1924-S Silver Dollar Sells For $54,625!
The 1924-S silver Peace dollar has recently sold for an impressive $54,625 in an online auction, demonstrating the coin's enduring popularity and value among collectors.
This highly sought-after coin was minted to replace the Morgan dollars that were melted down following the Pittman Act, and features a design by Italian sculptor Anthony de Francisci commemorating the end of World War I.
With limited quantities available and varying values based on condition, mint marks, and possible errors, the 1924 silver dollar remains a valuable and highly collectible piece of American history.
The 1924-S silver dollar is a significant artifact of American history, representing both the end of World War I and the replacement of the Morgan dollar with the Peace dollar.
The coin's design and composition, with its depiction of Lady Liberty on the obverse and a bald eagle perched on a rock on the reverse, reflect the artistry and symbolism of the time.
Additionally, the limited number of 1924-S silver dollars in circulation, combined with the possible variations in condition and mint marks, contribute to the rarity and value of this coin.
As such, collectors and numismatists alike continue to seek out these coins for their historical significance and potential for investment.
The 1924 Peace Dollar
The 1924 silver Peace dollar, which was designed to replace the Morgan dollars, is a highly sought-after coin with limited quantities available. Despite its age and wear and tear, this coin is highly valued by both professional and beginner coin collectors.
The coin was designed by Italian sculptor Anthony de Francisci to commemorate the end of World War I. The obverse side of the coin features a portrait of Lady Liberty, while the reverse side includes a bald eagle sitting on an olive branch.
The 1924 silver dollar is composed of 90% silver and 10% copper, and weighs 26.73 grams. Its value can vary based on factors such as its condition, mint marks, and possible errors. The grading system for determining a coin's quality can be subjective, but uncirculated coins are typically the most valuable.
Extremely fine and fine condition coins are also valuable, while those in good condition are more common and affordable for collectors. The presence of the S mintmark usually leads to higher values, especially in excellent condition, with some 1924-S dollars selling for over $50,000 in MS66 condition.
Design and Composition
Composed of 90% silver and 10% copper, the 1924 silver Peace dollar weighs 26.73 grams, which is equivalent to the weight of approximately 13 paperclips. The coin has a diameter of 38.1 millimeters and a thickness of 2.4 millimeters.
The high silver content of the coin makes it valuable not only to collectors but also to investors who see it as a tangible asset that can potentially hold its value even in times of economic uncertainty.
The design of the 1924 silver Peace dollar was the result of a competition held by the US Mint to find a new design for the silver dollar. Italian sculptor Anthony de Francisci won the competition with his design that featured Lady Liberty on the obverse side and a bald eagle on the reverse side.
Lady Liberty is depicted as a beautiful, serene figure with flowing hair, wearing a tiara that bears the word 'Liberty.' The eagle on the reverse side is perched on an olive branch, which symbolizes peace.
The words 'In God We Trust,' 'E Pluribus Unum,' and 'United States of America' are also inscribed on the coin.
Additional info on 1923 Penny
Value and Grading
Valuation and grading of the 1924 silver Peace dollar is a subjective process, with uncirculated coins typically being the most highly prized by collectors. The value of a coin can vary depending on factors such as its condition, mint marks, and possible errors. As a general rule, coins that are in excellent condition and have been well-preserved are more valuable than those that are worn or damaged.
To help collectors determine the value of their 1924 silver Peace dollars, grading systems have been developed that assign a grade from Poor to Mint State. The most common grading system is the Sheldon Scale, which grades coins on a scale of 1 to 70. Coins that are graded Mint State 60 or above are considered to be in uncirculated condition and are the most valuable. A table of the Sheldon Scale and its corresponding grades can be found below:
|1-19||Poor||Heavily damaged with only the date and mint mark visible|
|20-39||Fair||Very worn with most details visible|
|40-49||About Good||Worn with some details visible|
|50-59||Very Good||Worn with most details visible|
|60-69||Mint State||Uncirculated with full details visible|
|70||Perfect Mint State||Flawless with no imperfections visible|
In addition to the Sheldon Scale, there are other grading systems that collectors may use to determine the value of their coins. Ultimately, the value of a 1924 silver Peace dollar will depend on a variety of factors, and collectors should seek the advice of a professional coin dealer or appraiser to determine the true value of their coin.
Mintmarks and Errors
Mintmarks and errors are important factors to consider when assessing the value of a 1924 silver Peace dollar. Mintmarks indicate where the coin was produced, with Philadelphia and San Francisco being the two locations.
The presence of an S mintmark usually leads to higher values, especially if the coin is in excellent condition. However, some collectors may prefer coins from the Philadelphia Mint, which do not have a mintmark.
Errors can also affect the value of a 1924 silver dollar. Various errors can appear on the coin, such as reverse sharp strikes or missing parts of Lady Liberty's hair. Some errors have been given names, such as Broken Jaw, Extra Hair, and Clashed E, and can add value to a coin.
However, errors that detract from the overall appearance of the coin, such as scratches or dents, can lower its value. It is important for collectors to carefully examine any potential purchases for mintmarks and errors to ensure that they are getting an accurate assessment of the coin's value.
One effective way to approach collecting 1924 silver Peace dollars is to focus on completing a set of four Philadelphia Mint issues from 1922 through 1925. This set includes the 1922, 1923, 1924, and 1925 silver dollars, all of which share the same design by Anthony de Francisci. Collectors can aim to acquire these coins in various conditions, ranging from circulated to uncirculated, and with different mint marks such as the Philadelphia, Denver, or San Francisco mints.
Another collecting strategy is to focus on acquiring 1924 silver dollars with specific errors or varieties. For example, some collectors may seek out coins with the Broken Jaw or Extra Hair varieties, which are caused by die breaks and over-polishing respectively. Others may search for coins with sharp strikes or missing parts of Lady Liberty's hair. These types of errors can add value to the coin and make it more appealing to collectors.
Ultimately, the collecting strategy chosen will depend on the collector's personal preferences, budget, and goals.
Where to Buy 1924S Silver Dollar
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See Also: 1921 Penny