1922 Misprint Silver Dollar Value: How Much Are These Rare Errors Worth?

Introduction to 1922 Misprint Silver Dollars

The 1922 Peace Dollar represents a significant chapter in American numismatic history. While millions were minted, certain error varieties and misprints command substantial premiums in today’s collector market. These coins were part of the Peace Dollar series introduced in 1921 to commemorate the peace following World War I.

Among regular 1922 Peace Dollars, certain error coins stand out for their rarity and collector appeal. These “misprint” dollars (more accurately called error coins or varieties in numismatic terminology) range from striking errors to die varieties and can be worth substantially more than their standard counterparts.

The “TRVST” Error Variety

One of the most discussed “errors” in 1922 Peace Dollars isn’t actually an error at all. Many novice collectors believe they’ve found a rare misprint when they see “TRVST” instead of “TRUST” in the motto “IN GOD WE TRUST.” However, this is the correct design, as the letter “U” was stylized as a “V” in accordance with classical Roman lettering conventions of the time.

Despite not being a true error, many people search for this “TRVST” variety believing it to be valuable. The standard design uses this classical lettering on all Peace Dollars, so this feature alone doesn’t add premium value.

The 1922 “No Mint Mark” Error (1922 Plain)

A genuine and valuable error is the 1922 “No Mint Mark” Peace Dollar. While Philadelphia-minted coins typically carried no mint mark, all 1922 Peace Dollars were supposed to be minted at Denver (D) or San Francisco (S). When a Denver-minted coin appears without the “D” mint mark due to a die polishing error, it creates the rare “1922 Plain” variety.

Unlike their 1922-D counterparts that typically sell for $25-$39 in circulated condition, these No Mint Mark errors can fetch significantly higher prices:

The “Moustache” VAM-12A Variety

The VAM-12A “Moustache” variety is a fascinating die error where a curved die gouge appears between Liberty’s nose and mouth, creating what looks like a moustache on Lady Liberty’s face.

According to Find Bullion Prices, these “Moustache” varieties typically sell for:

• Fine (F) condition: $100 to $150
• Extra Fine (XF45) condition: $250 to $400
• Mint State: $500+

Double Struck Errors

Double struck errors occur when a coin fails to eject properly after the first strike and receives a second impression from the dies. The 1922 Peace Dollar double struck errors are rare and highly sought after by collectors.

One notable example is a 1922 Peace Silver Dollar that was double struck in collar with the second strike rotated 90 degrees. These dramatic errors can sell for several thousand dollars, especially in higher grades.

The original 1921 Peace Dollar design featured a high relief that proved difficult for production. In early 1922, before switching to the standard lower relief design, the Philadelphia Mint produced a small number of 1922 Peace Dollars in high relief.

According to the US Gold Bureau, these high relief coins were struck fewer times before the mint shifted to a lower relief design for easier production. Most of the 35,401 high relief coins produced were later melted, making genuine survivors exceptionally rare.

USA Coin Book estimates the value of a 1922 High Relief Peace Dollar in proof condition at over $300,000.

Even more rare is a unique coin with the 1922 high-relief obverse paired with a 1921 reverse. Only one example of this transitional piece is known to exist.

The 1922 was the first full year of Peace Dollar production, with over 84 million coins minted across three facilities:

• Philadelphia (no mint mark): 51,737,000 minted
• Denver (D mint mark): 15,063,000 minted
• San Francisco (S mint mark): 17,475,000 minted

Due to this high mintage, standard 1922 Peace Dollars are among the most common in the series. According to Hero Bullion, most 1922 Peace Dollars in average circulated condition are worth between $25 and $39, essentially their silver melt value with a small numismatic premium.

Values increase significantly for coins in higher grades:

Heavy wear with major details visible

Moderate wear with good detail remaining

Light wear primarily on high points

Very slight wear, nearly full luster

No wear, varying degrees of contact marks

Premium examples with exceptional eye appeal

The highest values are for coins in gem mint state condition. According to Hero Bullion, a 1922 Peace Dollar (no mint mark) graded MS-67 sold for $7,000, while a 1922-D in MS-67+ condition achieved $36,000 at auction.

Authenticating the 1922 No Mint Mark Error

The genuine 1922 No Mint Mark Peace Dollar resulted from excessive die polishing at the Denver Mint. To authenticate this variety:

1. Confirm the absence of a mint mark where the “D” should appear (below “ONE” on the reverse)
2. Look for weakened details on the reverse, particularly on “ONE DOLLAR” and eagle’s feathers
3. Check for die characteristics that match known authentic examples

Be cautious of artificially removed mint marks, where someone has tampered with a 1922-D to make it appear as the valuable No Mint Mark variety.

Authenticating the “Moustache” VAM-12A Variety

The VAM-12A “Moustache” variety shows a distinctive curved die gouge between Liberty’s nose and mouth. This error is more noticeable on coins with minimal wear and is often found only on early strikes before the die was replaced or repaired.

To authenticate:

1. Use a magnifying glass to examine the area between Liberty’s nose and mouth
2. Look for the curved die gouge that resembles a moustache
3. Compare to known authenticated examples
4. Consider professional authentication for high-value specimens

Professional Authentication

For potentially valuable error coins, professional authentication is highly recommended. Organizations like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) provide expert verification and grading services that:

1. Confirm authenticity
2. Verify the specific error variety
3. Establish condition grade
4. Protect the coin in a tamper-evident holder
5. Provide documentation that enhances resale value

Auction Houses

For rare, high-value errors like the 1922 High Relief or authenticated 1922 No Mint Mark dollars, specialized numismatic auction houses often achieve the highest prices:

• Heritage Auctions
• Stack’s Bowers
• Great Collections

These auction houses have expert numismatists who can properly catalog your coin and market it to serious collectors.

Coin Dealers

Established coin dealers can offer immediate payment, though typically at wholesale prices:

• Local coin shops (convenient but may offer lower prices)
• National dealers (may offer better prices for rare varieties)
• Dealers at major coin shows (can generate competitive offers)

Online Marketplaces

Online platforms can connect you directly with collectors:

• eBay (largest audience but higher fees and risk)
• Heritage Auctions online (lower fees for coins than general auction platforms)
• Specialized numismatic forums and marketplaces

For error coins valued over $1,000, professional certification is strongly recommended before listing online to enhance buyer confidence and achieve maximum value.

Comprehensive reference guide for Peace Dollar varieties with price guides and authentication information.

Detailed catalog of Peace Dollar VAM varieties including the 1922 "Moustache" and other variations.

Comprehensive price guide for all 1922 Peace Dollar varieties and conditions.

Database of past auction results for 1922 Peace Dollars showing realized prices.

NGC's price guide and historical information on 1922 Peace Dollars.

Detailed information on the rare 1922 High Relief Peace Dollar variety.

No, this is not an error. All Peace Dollars have "IN GOD WE TRVST" with a V instead of a U. This classical Roman-style lettering was intentional in the design by Anthony de Francisci and appears on all Peace Dollars from 1921-1935. It doesn't add any premium value to your coin.

The genuine 1922 No Mint Mark error was caused by excessive die polishing at the Denver Mint. Look for these characteristics:

- Complete absence of a mint mark (should be located below "ONE" on the reverse)
- Weakened design elements on the reverse, especially on "ONE DOLLAR" and the eagle's feathers
- No signs of tampering around where the mint mark should be

This is a rare variety, so professional authentication is recommended.

The 1922 "Moustache" VAM-12A variety shows a distinctive curved die gouge between Liberty's nose and mouth. Values typically range from:

- $100-$150 in Fine condition
- $250-$400 in Extra Fine (XF45) condition
- $500+ in Mint State condition

The error is more noticeable on coins with minimal wear and is often found only on early strikes.

Standard 1922 Peace Dollars without errors typically sell for:

- $25-$35 in circulated condition (roughly their silver melt value plus a small premium)
- $40-$60 in About Uncirculated condition
- $60-$100 in lower Mint State grades (MS-60 to MS-63)
- $150-$300+ in higher Mint State grades (MS-64 to MS-65)
- $1,000+ for superb gem examples (MS-66 and above)

Mint mark can affect value, with Philadelphia (no mint mark) and Denver (D) being more common than San Francisco (S).

The 1922 High Relief Peace Dollar is rare because:

1. It was a transitional design produced in limited quantities (35,401 coins)
2. Most were melted after production
3. It features higher relief details similar to the 1921 design before the mint switched to the standard lower relief

Authenticated examples can sell for $25,000+ in About Uncirculated condition and $300,000+ in Proof condition. Only one example with a 1922 high-relief obverse and 1921 reverse is known to exist.

The best venues for selling valuable 1922 error dollars include:

- Specialized numismatic auction houses (Heritage Auctions, Stack's Bowers)
- Established coin dealers (local or national)
- Online marketplaces (eBay, specialized numismatic forums)

For valuable errors, professional certification from PCGS or NGC is highly recommended before selling to authenticate the error and establish condition.

All genuine 1922 Peace Dollars are 90% silver and 10% copper. To verify silver content:

1. Check the weight (should be approximately 26.73 grams)
2. Measure the diameter (should be 38.1mm)
3. Perform a magnet test (silver is not magnetic)
4. Listen to the ring test (silver coins produce a distinctive high-pitched ring)
5. Look for any signs of copper showing through heavily worn areas

Counterfeit silver dollars might be made of base metals plated with silver, and usually have incorrect weight, poor strike details, or wrong ring sound.

Beyond the No Mint Mark and "Moustache" varieties, other valuable 1922 Peace Dollar errors include:

- Double struck errors (coins struck twice by the dies)
- Off-center strikes (design not centered on the planchet)
- Broadstrike errors (struck outside the collar die)
- Die cracks and cuds (raised lines or lumps caused by damaged dies)
- Lamination errors (flaws in the metal that cause portions to split or peel)

These mechanical errors are typically rarer than die varieties and can command significant premiums based on the visual appeal and severity of the error.

Conclusion: Are 1922 Misprint Silver Dollars Worth the Investment?

The 1922 Peace Dollar series offers compelling opportunities for collectors and investors alike. While standard 1922 Peace Dollars remain affordable and accessible at $25-$60 in most circulated conditions, the rare error varieties can command significant premiums.

The most valuable 1922 errors include:

1. High Relief Variety: Extremely rare transitional design worth $25,000 to $300,000+ depending on condition
2. No Mint Mark Error: A die polishing error from the Denver Mint valued at $400 to $7,000+ based on grade
3. “Moustache” VAM-12A: A distinctive die gouge worth $100 to $500+
4. Double Struck Errors: Dramatic mechanical errors selling for thousands of dollars

For collectors, these error varieties represent fascinating chapters in U.S. Mint history and production processes. For investors, they offer potential for significant appreciation due to their genuine rarity and strong collector demand.

When considering 1922 Peace Dollar errors as an investment:

1. Focus on authentication – professional certification is essential
2. Condition matters significantly – higher grades command exponential premiums
3. Provenance can add value – documented history enhances desirability
4. Market knowledge is crucial – understanding population reports and auction results helps inform buying decisions

Whether you’re a seasoned numismatist or a curious beginner, the world of 1922 Peace Dollar errors offers a fascinating blend of history, artistry, and potential value that continues to captivate collectors a century after these coins were struck.