The 1926-S Peace Dollar is a relatively common coin and it is the only one of the S-Mint Peace Dollars that can be found with a good strike. The mintage was nearly 7 million coins, making this the last of the Peace Dollars with a mintage of over 2 million pieces. Most of the certified Mint State examples fall into the MS-63 and MS-64 categories, with about equal distribution between the two grades. MS-65 examples are fairly plentiful, but the population drops off a cliff in the MS-66. In MS-67, the 1926-S Peace Dollar is a true condition-rarity, and none have been graded finer by PCGS. Luster ranges from frosty to brilliant; several of the top examples have bright, booming luster. Often the eye appeal is diminished by bagmarks, but when clean examples are found, they are very attractive.
According to a notice in the June 1934 issue of The Numismatist (p. 416), collectors could still purchase Uncirculated 1926-S Peace Dollars for "the face value of the coins and an amount sufficient to cover the mail charrges by first-class mail."