The U.S. Mint will release individual Reverse Proof versions of the Morgan and Peace silver dollars on July 9, 2026, at noon ET. Both coins are priced at $173, carry the Philadelphia (P) mint mark, and feature the Semiquincentennial dual date 1776~2026 with the Liberty Bell “250” privy mark. The household order limit is 10 per design.
Three changes from prior years matter here: the coins are struck at Philadelphia instead of San Francisco, they’re sold as individual coins instead of a mandatory two-coin set, and the finish is applied to designs carrying dual-date Semiquincentennial markings for the first time.
Specifications
| Morgan Reverse Proof | Peace Reverse Proof | |
|---|---|---|
| Product code | 26XF | 26XL |
| Sale date | July 9, 2026, noon ET | July 9, 2026, noon ET |
| Price | $173 | $173 |
| Composition | .999 fine silver | .999 fine silver |
| Weight | 26.73g (1 oz ASW) | 26.73g (1 oz ASW) |
| Mint | Philadelphia (P) | Philadelphia (P) |
| Finish | Reverse Proof | Reverse Proof |
| Dual date | 1776~2026 | 1776~2026 |
| Privy mark | Liberty Bell “250” | Liberty Bell “250” |
| Household limit | 10 | 10 |
A two-coin Reverse Proof set will follow separately in Fall 2026 at approximately $375.
What Reverse Proof Means
Standard Proof coins have mirrored fields (flat background) and frosted devices (raised design elements). Reverse Proof inverts this: frosted fields and mirrored devices. The effect is visually distinct — the eagle, Liberty’s portrait, and lettering appear polished and reflective against a matte background.
This finish has been applied to Morgan and Peace dollars since 2023, but 2026 marks the first year these coins carry dual dating and a privy mark.
Philadelphia Mint Mark: A First for Modern Reverse Proof Dollars
Previous Reverse Proof Morgan and Peace dollars (2023, 2024, 2025) were struck at San Francisco with the “S” mint mark. The 2026 editions move production to Philadelphia, giving these coins a “P” mint mark — a first for Reverse Proof silver dollars in the modern series. Collectors building complete mint-mark sets will need the 2026-P to fill a gap that didn’t previously exist.
Sold Individually: Another First
Prior Reverse Proof Morgan and Peace dollars were sold exclusively as two-coin sets. In 2026, the Mint offers each coin as a standalone purchase. Buyers who want only the Morgan or only the Peace can buy one without paying for both. Those who want the pair can order each separately (total $346 for two individual coins) or wait for the Fall 2026 two-coin set at approximately $375 — a slight premium for the packaging and matched presentation.
What Happened in Prior Years
The 2025 Reverse Proof two-coin set (San Francisco, 160,000 mintage) sold strongly at launch. The 2023 and 2024 sets followed similar patterns: high initial demand, sellout within the first week, and modest secondary market appreciation. Certified examples in top grades (PF70) from prior years typically trade at $250–$400 per coin, well above the original set pricing. Individual coins from broken-up sets command similar premiums.
The shift to individual sales in 2026 makes the math simpler for collectors — you pay $173 per coin at launch, with no set-splitting required to isolate the design you want.
Buying Strategy
Mark July 9, 2026, noon ET. Create your U.S. Mint account now if you don’t have one. Have payment information saved and verified. The household limit is 10 per design — enough to keep raw examples and submit others for grading.
If you want both coins, order each individually on July 9 ($346 total). The Fall two-coin set costs slightly more ($375) and releases months later. The individual coins ship sooner, letting you submit for grading before the two-coin set holders even receive their orders — an advantage if you’re targeting early-submission grading labels.
For collectors who miss the July 9 window, secondary market pricing will be available through authorized dealers. Compare silver dollar pricing across dealers to find competitive offers.
Where This Fits in the 2026 Morgan & Peace Calendar
| Product | Sale Date | Price | Mint |
|---|---|---|---|
| Reverse Proof Morgan | July 9, 2026 | $173 | Philadelphia (P) |
| Reverse Proof Peace | July 9, 2026 | $173 | Philadelphia (P) |
| Enhanced Uncirculated Morgan | August 25, 2026 | $169 | West Point (W) |
| Enhanced Uncirculated Peace | August 25, 2026 | $169 | West Point (W) |
| Two-Coin Reverse Proof Set | Fall 2026 | ~$375 | Philadelphia (P) |
| Two-Coin EU Set | Fall 2026 | TBD | West Point (W) |
All 2026 Morgan and Peace dollars carry the 1776~2026 dual date and Liberty Bell “250” privy mark. Collectors building a complete 2026 Semiquincentennial dollar set will need both finishes from both mints — at minimum four individual coins plus the sets.
Silver Value Floor
Each coin contains approximately 0.860 troy ounces of pure silver (26.73g at .999 fine). At current silver spot prices near $33/oz, that’s roughly $28 in melt value — providing a hard asset floor regardless of what the numismatic market does. The $145 premium over melt reflects the Reverse Proof finish, Philadelphia mint mark, Semiquincentennial markings, and controlled mintage.
