1925

The 1925 Philadelphia ran 10,198,000 pieces, the fourth-largest P-mint output of the Peace Dollar series and the last date before the Mint resumed full three-mint production in 1926. With the Pittman Act of 1918 recoinage program complete since 1923, the 1925 mintage tracks purely commercial demand from Federal Reserve channels. Anthony de Francisci's Low Relief design carried through unchanged, and Philadelphia's 1925 dies produced the sharpest strikes of the year, since Denver again skipped Peace Dollar production for the second consecutive year.

Strike quality on the 1925 Philadelphia is the best of the year, with Liberty's hair detail, the eagle's breast feathers, and the rays of the rising sun on the reverse all coming up cleanly on coins from early die states. Most surviving examples grade MS63 to MS65 from broken Treasury bag releases, with PCGS, the Professional Coin Grading Service, and NGC populations clustering at MS64 and MS65. MS66 is available and inexpensive, making the 1925-P one of the most affordable Peace Dollars in solid gem grade. Van Allen-Mallis varieties exist for the year, including doubled-die obverses, but most do not command material premiums outside specialist collector demand.

The 1925 Philadelphia is a regular common date and a recommended pickup at the upper-gem grade for collectors who want a high-quality example of the early-run Peace Dollar at modest cost. Pricing has held flat for two decades at the lower end of the series price band. The 1925-P pairs with the 1925-S as the year's only two mints, completing the second consecutive year without Denver production. Original Treasury bag releases from the 1950s and 1960s seeded most of the modern high-grade supply, and the deep certified pool at MS65 makes the date a reliable upgrade target for collectors building from MS63 or MS64. For the post-Pittman production patterns and the broader 1924-1925 two-mint stretch, see the Peace Dollar series history.