1922 US Coins: Values & Mintages

US coinage in 1922

Only Denver struck Lincoln cents in 1922. Worn and filled dies at Denver produced cents with a missing mint mark, now known as the 1922 "No D" or "Plain" cent.

The Mint in the 1920s

After the First World War, demand for coins rose and fell sharply. A sharp recession in 1920 and 1921 cut demand for new coins, which is why several branch-mint issues of the early 1920s have low mintages. The Morgan dollar returned briefly in 1921 and the Peace dollar replaced it, struck in large numbers to replace the dollars melted under the Pittman Act.

Through the middle of the decade the economy boomed and the Philadelphia, Denver and San Francisco mints struck cents, nickels, dimes, quarters and half dollars in growing numbers. Dates that wore off easily, on the Buffalo nickel and the Standing Liberty quarter, are a feature of the era's coins. The decade ended with the stock market crash of October 1929.

How many coins were made in 1922

Counting the circulation issues on this page, US mints struck 95,468,500 coins dated 1922 across 6 issues. That is 40% fewer than in 1921 (160,143,973). In 1923 the figure rose to 254,003,250.

It was the smallest year since 1896.

By mint: Philadelphia 53,112,500 (56%, down from 99,436,973), Denver 22,223,000 (23%, up from 21,633,000) and San Francisco 20,133,000 (21%, down from 39,074,000).

Those coins held about 65,182,542 troy ounces of pure silver and 3,902,384 troy ounces of gold.

1922 coins by denomination

Cents: 7,160,000 struck in 1 circulation issue of the Lincoln Wheat Cent, down 87% on 1921.

Dollar Coins: 84,275,000 struck in 3 circulation issues of the Peace Silver Dollar, down 3.9% on 1921. The scarcest is the 1922-D (15,063,000) and the most plentiful the 1922 (51,737,000).

Gold Coins: 4,033,500 struck in 2 circulation issues of the Saint-Gaudens Double Eagle, up 663% on 1921. The scarcest is the 1922 (1,375,500) and the most plentiful the 1922-S (2,658,000).

Every 1922 circulation issue at a glance

• 1922 Saint-Gaudens Double Eagle: 1,375,500 struck, more than 65% of the series' 52 issues, up from 528,500 in 1921.
• 1922-S Saint-Gaudens Double Eagle: 2,658,000 struck, more than 76% of the series' 52 issues, up from 558,000 in 1920.
• 1922-D Lincoln Wheat Cent: 7,160,000 struck, 15th lowest of 140 in the series, down from 49,280,000 in 1920.
• 1922-D Peace Silver Dollar: 15,063,000 struck, more than 83% of the series' 24 issues.
• 1922-S Peace Silver Dollar: 17,475,000 struck, more than 87% of the series' 24 issues.
• 1922 Peace Silver Dollar: 51,737,000 struck, the highest mintage of the series, up from 1,006,473 in 1921.

Lincoln Wheat Cent: Initials return and the 1922 plain

In 1918 Brenner's initials returned, this time tiny on the truncation of Lincoln's shoulder, where they stayed for the rest of the series. Production stayed high after the war, but a recession cut 1921 output. In 1922 only Denver struck cents. Worn and filled dies at Denver produced coins with no visible mint mark, the 1922 Plain. Only one die pair shows a strong reverse and no trace of the D. That is the variety collectors want.

Branch mint cents of the 1920s are known for soft strikes. The 1924-D, 1926-S and other San Francisco and Denver dates often show weak hair detail and mushy wheat lines. The 1926-S is notoriously hard to find with red color. Most dates from this era survive in circulated grades with brown surfaces. Fully struck, red examples from the branch mints are much harder to find than Philadelphia coins.

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Peace Silver Dollar: High relief and the switch to low relief

Anthony de Francisci's Peace dollar commemorated the end of World War I. The first 1,006,473 were struck in late December 1921 in high relief and released in January 1922. The reverse eagle perches on a rock inscribed PEACE as the sun rises behind it. A broken sword in the original design was removed before release after objections that it suggested defeat.

The high relief strained the presses and wore dies quickly, so early in 1922 the Mint lowered the relief. Philadelphia then struck 51.7 million low relief dollars in 1922, joined by Denver and San Francisco, making 1922 the most common Peace dollar. A few 1922 high relief coins exist as rarities. The 1921 itself is scarce and often shows a weak strike in the center of Liberty's hair.

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Saint-Gaudens Double Eagle: Postwar mintages and overseas hoards

Double eagle production stopped from 1917 through 1919. When it resumed in 1920, much of the output went into Treasury vaults or abroad as reserves. The 1920-S and 1921 are rare because most were melted in the 1930s. The 1927-D is one of the great rarities of American gold, with only a handful known from 180,000 struck.

The Philadelphia coins of 1924 to 1928 are among the most common double eagles because many were shipped to European banks and later returned in quantity. Branch mint coins of the same years tell a different story. The 1924-D, 1924-S, 1925-D, 1925-S, 1926-D and 1926-S are scarce despite mostly large mintages because most were melted. Bag marks and rim nicks are the usual flaws on the repatriated Philadelphia coins.

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