Ron Guth: The 1925-S Peace Dollar is very common in circulated grades and fairly common in Mint State. However, Gems are very rare, because virtually all 1925-S Peace Dollars suffer from a poor strike. In fact, according to the PCGS Population Report, the 1925-S is the rarest of all the S-Mint Peace Dollars in MS-65 and it is the only date in the entire series where no example has been certified above MS-65! The luster on the 1925-S Peace Dollar is usually frosty, often with a grainy texture, but brilliant examples exist, as well. The 1925-S usually has good eye appeal, but good luck finding one with a full strike.
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