1926-S

The 1926-S, at 6,980,000 pieces, ran the largest output of the 1926 three-mint year and the second-largest San Francisco output of the Peace Dollar series after the 1923-S 19-million figure. The post-Pittman commercial demand for dollar coinage in the western states sustained S-mint production at a higher volume than either Philadelphia (1.94 million) or Denver (2.35 million) for the year. Anthony de Francisci's Low Relief design carried through unchanged on the obverse and reverse, with the standard configuration in service since 1922.

Strike quality on the 1926-S follows the established San Francisco pattern of weak hair detail above Liberty's ear and softness on the eagle's breast feathers. The 1926-S typically shows slightly better strike quality than the surrounding 1924-S and 1925-S issues because the higher mintage allowed Denver-level die rotation, but the central design elements still come up softer than at Philadelphia. Most surviving examples grade MS60 to MS64 from broken Treasury bag releases, with PCGS, the Professional Coin Grading Service, and NGC populations clustering at MS63 and MS64. MS65 is available but condition-scarce, and MS66 and above is genuinely rare across the certified pool.

The 1926-S is a regular common date in lower grades but a meaningful condition rarity above MS64. Pricing has held flat for two decades at the low end and trended upward at the high end, mirroring the broader S-mint strike-quality pattern across the series. The 1926-S pairs naturally with the 1923-S as the two highest-mintage San Francisco Peace Dollars and is a recommended pickup at the mid-grade level for S-mint date-set collectors. The deep certified pool at MS63 and MS64 makes the date a reliable entry-grade S-mint pickup, while the thin MS65 population means even modest upgrade attempts carry meaningful cost. For the broader San Francisco strike-quality story and the post-Pittman production context, see the Peace Dollar series history.