SILVER DOLLAR REFERENCE GUIDE
1923 Peace dollar: photo checklist for no mintmark, D, and S
A 1923 Peace dollar can have no mintmark (Philadelphia), D (Denver), or S (San Francisco). The letter, when present, is on the reverse left of the eagle’s tail. Confirm the mark in a sharp image of the actual coin, then judge strike, wear, and surface condition separately.
Compare photographs from real listings
View the photographed coin →
View the photographed coin →
These are real Store listing photos, labeled from seller-recorded item details. Their web previews do not independently establish the mintmark. No verified 1923-D Store photograph was available for this comparison. Use the source references below for issue examples and request a clear reverse close-up before paying for a D or S attribution.
The three original 1923 Peace dollar issues
| Issue | Reverse mark left of tail | Original mintage | What to check next |
|---|---|---|---|
| 1923 Philadelphia | No letter | 30,800,000 | Do not call a normal blank area an error |
| 1923-D Denver | D | 6,811,000 | Confirm the D in an actual-item close-up |
| 1923-S San Francisco | S | 19,020,000 | Separate weak strike from wear and marks |
Locate the mark without confusing the designs
A Peace dollar has a radiating-crown Liberty on the dated face and a resting eagle above the word PEACE on the reverse. Turn to that reverse and look left of the eagle’s tail. The mintmark is a small letter there, unlike a Morgan dollar’s mark below the wreath. This guide concerns original 1923 Peace dollars, not modern commemorative coins.
The Philadelphia issue has no mark. Denver uses D and San Francisco uses S. NGC records all three as normal 1923 business strikes. A blank mintmark area is therefore not a mint error on a Philadelphia coin. If the date or alleged letter is not legible in the same coin’s photographs, ask for a better view before comparing its value.
What the two real listing photos can show
The photo examples above place the mintmark area in the context of the whole reverse. They are useful for learning where to examine an actual coin, but the compressed previews are too small to settle a fine letter shape reliably. Zoom the full listing, then ask for a sharp crop with enough surrounding detail to prove it is the same coin.
If the seller has only an obverse photo, a stock photograph, or a reverse with glare over the tail, treat the mint as unverified. An item-specific condition note and additional images are especially important when two coins share the same date and broad grade.
Why the S coin may look flatter than expected
PCGS describes the typical 1923-S as weakly struck and often marked. Strike weakness is incomplete detail from manufacture; circulation wear removes high-point detail after the coin enters use. A flat center alone does not tell you which cause applies. Compare the high points with protected areas and look for original texture or luster under angled light.
Do not assign a numeric grade from one overhead photo. Cleaning can leave parallel hairlines, while bag contact marks can coexist with original luster. Read any seller disclosure of scratches, polishing, or rim damage and compare with actual-item images of both sides.
Use mintage carefully when comparing value
NGC lists 30.8 million Philadelphia, 6.811 million Denver, and 19.02 million San Francisco pieces struck in 1923. Those totals alone do not price today’s coin. The remaining supply at a particular grade, surface quality, and certification status matters. In higher grades, NGC and PCGS describe the 1923-S as harder to find well preserved.
Search completed sales for the exact mint and similar condition. Keep raw and graded examples separate. Exclude unusual attributed varieties and exceptional high-grade records when pricing an ordinary circulated coin. Include shipping and buyer protections in the total cost.
A repeatable buyer worksheet
Record the exact date; letter seen on the reverse or “unverified”; full obverse and reverse photos; any edge or rim damage; visible wear, strike softness, luster, and marks; whether the coin is certified; and three to five relevant completed sales with dates. If the proposed price depends on a special variety, require recognized attribution.
Compare the seller’s title, item specifics, and photographs. If they disagree, ask for a correction before buying. The Store’s Peace dollar collection shows current examples, while the live eBay listing controls price, availability, shipping, and return terms.
Use this guide with a real coin
Compare the actual item photographs and confirm current price and purchase terms on the named sales channel.
Browse Morgan dollars → Browse Peace dollars → Check silver content →