With its magnificent liberty portrait, the 1935 Silver Dollar is one of the most beautiful coins to be produced by the US mintage. Most collectors are willing to pay high prices for this coin in mint state.
So, what exactly is the 1935 Silver Dollar value? According to NGC, a circulated coin is worth $34 to $95. In uncirculated conditions, the coin value can reach up to $18,000!
But there are a lot of different factors that affect this value. In today’s post, we will talk about the 1935 Silver Dollar varieties, errors, and grading. We will also discuss its history and some common FAQs.
Let’s get started!
1935 Silver Dollar Value Details
- Category: Peace Dollar
- Mint: Philadelphia, San Francisco
- Mintage: 3,540,000
- Obverse Designer: Anthony de Francisci
- Reverse Designer: Anthony de Francisci
- Composition: Silver
- Fineness: 0.9
- Weight: 26.73g
- ASW: 0.7734oz
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1935 Silver Dollar Value Chart
| Mint Mark | Good | Extremely Fine | MS-60 | MS-67 |
| 1935 No Mint Mark Silver Dollar Value | $37.50 | $50 | $100 | $18,000+ |
| 1935 S Mint Mark Silver Dollar Value | $37.50 | $75 | $300 | $30,000+ |
* No coins were produced in proof grade or with D mint mark.
1935 Silver Dollar Value and Varieties
1935 (P) No Mint Mark Silver Dollar
- Type: Peace Dollar
- Edge: Reeded
- Mint Mark: No Mint Mark
- Place of Minting: Philadelphia
- Year of Minting: 1935
- Face Value: $1
- Price: $34 to $18,000+
- Quantity Produced: 1,576,000
- Designer: Anthony de Francisci
- Composition: Silver
- Mass: 26.73g
- Diameter: 38.1mm
The Philadelphia mintage is very easy to recognize. All of the 1935 P Silver Dollar coins have no mint mark on the reverse side. The area above the tip of the eagle’s wings is completely plain.
These coins were produced in massive quantities at the Philadelphia mint. So, you can easily find them on online e-commerce platforms and sites. However, it’s rare to find a 1935 P Silver Dollar in higher grades of uncirculated condition.
This is because the majority of people used the coin for business purposes. Only a few enthusiasts collected and maintained it for all these years. These rare specimens are highly valuable.
According to NGC, an MS-66 grade 1935 Silver Dollar is worth $2,150. Meanwhile, an MS-67 grade coin is worth $18,000. That’s a $16,000 difference between the two grades!
But PCGS has auctioned these well-preserved specimens for even higher values. In Jan 2021, it sold an MS-67 1935 Silver Dollar for $72,500. Another one was auctioned recently in March for $46,500.
While that is a decrease in value over the years, the 5-figure price tag is still pretty hefty for a near-antique 1935 Silver Dollar coin. An MS-67+ coin can easily sell for $ 1 million in an auction event (though, no specimens have been found yet).
1935 S Mint Mark Silver Dollar
- Type: Peace Dollar
- Edge: Reeded
- Mint Mark: S Mint Mark
- Place of Minting: San Francisco
- Year of Minting: 1935
- Face Value: $1
- Price: $34 to $30,000+
- Quantity Produced: 1,964,000
- Designer: Anthony de Francisci
- Composition: Silver
- Mass: 26.73g
- Diameter: 38.1mm
The second half of the 1935 Silver Dollar mintage was produced at the San Francisco mint facility. With a little over 1.5 million, this lot was more abundant and massive than the Philadelphia one. And so, finding it is quite easy too.
You just have to look for the prominent S mint mark on the reverse side. It will be present right above the tip of the eagle’s wings. Apart from the mint mark, you should also focus on the sun’s rays.
The 1935 S Silver Dollar was struck in two varieties; one had three sun rays below the word ONE, and the other one had four rays. Please note that the four-rayed Silver Dollar is rare and valuable.
In some poor-condition coins, the rays might have rubbed off or faded. This could lead to misunderstanding and misevaluation. We strongly recommend the use of magnifying glass or – even better – professional coin appraisal services to know your coin better.
With that said, you should expect a circulated 1935 S mint mark Silver Dollar to value at $34 in good condition and $75 in extremely fine condition. Uncirculated coins start from $100 at MS-50 grade. At MS-60, the price hikes up to $300 for a single coin!
But that’s not the highest value. In 2018, NGC sold an MS-67 1935 S mint mark Silver Dollar for $37,500. PCGS broke this record in 2022 by auctioning the same grade coin for a whopping $45,000!
Also Read: Top 19 Most Valuable Morgan Dollars Worth Money
1935 Silver Dollar History
The US Peace Dollars have great historical significance and value. At the end of WW1, the US government passed the Pittman Act (1918) in which 350+ million Silver Dollars were authorized to be melted and sold to Britain for a dollar per ounce.
To replace them, the US government started the minting process of the Peace Silver Dollar in massive quantities. The denomination features the portrait of Liberty on the obverse side with the phrase In God We Trust, the word Liberty, and the year 1935.
On the reverse side, there is a detailed image of an eagle sitting on a rock. The sun rays run diagonally, with the ends almost touching the phrases on the top; E Pluribus Unum and the United States of America.
This design was created by Anthony de Francisci, who was an Italian-American artist. He participated in the competition held by the Commission of Fine Art to produce a new Silver Dollar design.
His success was largely due to the fact that he based Liberty’s portrait on his wife’s features. The sharp portrait filled with character and personality won the heart of the US Fine Arts Commission.
From 1921 to 1928, the same design was produced at the Philadelphia, Denver, and San Francisco mints. However, production ceased in 1929 following the crash of the stock market and the Great Depression.
After six years, the 1934 Silver Dollars were manufactured to increase the cash flow and support the production of domestic silver. The Silver Purchase Act further pushed the Treasury to focus on the silver purchase and increase the market price to $1.2929.
In 1935, the Silver Dollars were produced at the Philadelphia and San Francisco mints only. A total of 3,540,000 coins were minted. Although this was abundant for the country, the US mints had previously minted much larger numbers.
This sudden drop in quantity was due to the falling demand. However, today, the 1935 Silver Dollar is a high-interest collectible amongst numismatists. Its beautiful design, rarity, and historical importance make it an amazing addition to their coin collections!
Also Read: Top 19 Most Valuable Silver Eagles Worth Money
1935 Silver Dollar Grading
The Sheldon Scale is used to grade coins. It has 70 grades, which range from poor condition to mint state. While poor to extremely fine condition grades are used for circulated coins, the mint state (MS) is used for coins that were never circulated.
As a result, these coins have minimal to no damage. Their well-preserved condition makes them ideal for display and study amongst numismatists. But keep in mind that the higher the grade is, the more valuable it will be.
Here’s a useful video on coin grading and valuation:
List of 1935 Silver Dollar Errors
1. 1935 Silver Dollar Double Die Reverse
The double die is a common error in vintage and antique coins. It occurs when the entire design is punched on the metal twice but with some misalignment. As a result, you can see double lines and overlapping images on the coin.
In the 1935 Silver Dollar, the double die error is found on the reverse side. The branches around the rock are a little spread out, with some leaves merged together. In rare cases, there might be some overlapping in phrases and the overall design.
This 1935 Silver Dollar Double Die Reverse error coin is typically priced between $200 to $250 in uncirculated condition. At higher mint state grades, the coin can have worth in thousands.
2. 1935 Silver Dollar Planchet Flaw
Planchet is the metal used in the minting process. In the case of 1935 Silver Dollars, 90% silver and 10% copper composition was selected to make the coins sturdy, shiny, and valuable. But, even though the metal was carefully picked, some coins have a planchet flaw.
This type of error occurs due to the impurities and foreign particles in the planchet. As a result, the coin has a slightly dark and different color. It may also have spots, clipped edges, unusual thickness, and other flaws.
Heritage Auctions sold one of these 1935 Silver Dollar Planchet Flaw coins for $185. However, you can get better values if the error is very unique.
3. 1935 Silver Dollar Broad struck
Broadstruck errors are a consequence of missing retaining collars. As the name suggests, a retaining collar controls the planchet when the die is pressing the coin design.
If this collar is missing, the planchet will spread wide. Consequently, the coin will not have its typical circle shape, perfect thickness, and centrally-placed design. It will be deformed and unsuitable for use.
Fortunately, coin deformities make them a rarity. You will find this error in 1935 Silver Dollar coins too. And, since no two broad-struck errors are the same, a single 1935 Silver Dollar Broadstruck coin can sell for thousands of dollars.
4. 1935 Silver Dollar Lamination Flaw
A lamination flaw is basically a type of planchet error. But it is classified as a separate error due to its rarity and high value. What happens is that the impurities in the metal cause the coin to develop cracks or flakes after being struck.
In the 1935 Silver Dollar, you will find a specific lamination flaw in the coins minted in Philadelphia. The reverse side of the coin will have flakes and scratches on the rim. Since this is a very rare error, a 1935 Silver Dollar Lamination Flaw coin is worth $1800+.
1935 Silver Dollar FAQs
Where is the mint mark on a 1935 Peace dollar?
The mint mark on a 1935 Peace dollar is located on the reverse side of the coin. There will be a small S above the tip of the eagle’s wings. In Philadelphia coins, there will be no mint mark.
Please note that no 1935 Peace dollars were minted at the Denver facility.
How much is a 1935 Walking Liberty worth?
The value of any coin depends on its condition and rarity. According to NGC, a circulated 1935 Walking Liberty half-dollar is worth $10.75 to $50. However, an uncirculated or error coin can be worth $15,000+ in the open market.
We highly recommend consulting a professional coin appraiser to know the exact condition and value of your coin.
How can you tell if a silver dollar is rare?
You can tell if a silver dollar is rare by looking at 3-important factors:
- Mintage: The US mints produced Silver Dollar coins in bulk quantities from 1921 to 1928. Even when it restarted production in 1934, the numbers minted were massive. However, each year, the total mintage between Denver, San Francisco, and Philadelphia facilities was different. For example, the 1935 Silver Dollar quantity minted in Philadelphia was 1,576,000, and in San Francisco, it was 1,964,000. No coins were made at the Denver mint. So, in this case, Philadelphia coins have the lowest mintage which makes them rarer than San Francisco ones.
- Condition: Finding old coins in a well-preserved condition is difficult. Usually, the coins are circulated specimens with considerable damage and faded design. If a coin is in uncirculated or mint state condition, it is rare and valuable.
- Errors: Coin deformities make them unique and one-of-a-kind. So, it doesn’t matter whether a coin has a double die, planchet, or lamination error. Any coin with error is a rare and high-value specimen.
Which Peace Dollar is most valuable?
The most valuable Peace Dollar is the proof-grade coin from 1922. It was minted in Philadelphia and has a worth of $141,000!
Some other high-value Peace Dollars include the 1925 S Silver Dollar, 1928 S Silver Dollar, and 1934 Silver Dollar.
What is the best Peace Dollar to invest?
If you want to make a safe investment and have the budget for it, the best peace dollar would be the 1928 P Silver Dollar. You should also consider the 1934 Silver Dollar of high grades.