Production of Peace dollars went full steam ahead in 1922, after the relief of the dies was lowered to make it easier to manufacture large numbers of the new coin without causing excessive wear on the equipment. The Peace dollar, designed by Anthony de Francisci, depicts a representation of Miss Liberty on the obverse and an American bald eagle perched atop a rock and looking at a sunrise.
Most Peace dollars bearing the 1922 date feature the lower relief design, but the U.S. Mint reported striking 35,401 Peace dollars in 1922 with a high relief. It is thought that only around 10 to 12 high-relief 1922 dollars – all proofs – remain. These are worth in excess of $80,000 and are highly rare.
Conversely, the low-relief 1922 silver dollars are extremely common. In fact, 1922 is the most common date in the entire Peace dollar series, with 51,737,000 struck at the Philadelphia mint, 15,063,000 at Denver, and 17,475,000 at the San Francisco mint.
Values for the common 1922 Peace dollar swing mainly with silver bullion values, but with a spot price of $20, a typical, well-circulated Peace dollar has a value of around $16 to $20 Mint state examples are very common, and are worth the extra few dollars in price over circulated examples so you can obtain a nice, crisp specimen of this symbolically American silver dollar.