Indian Peace Medals
1857 “James Buchanan” Silver Indian Peace Medal Rarity
1857 President James Buchanan Indian Peace Medal, 62 mm. Small Size. Struck in Silver. Extremely Rare. Fine to Very Fine.
Julian IP-35. Belden-51. Prucha-50. 62 mm. Struck at the United States Mint on behalf of the Commissioner of Indian Affairs for distribution to Indian Chiefs and high officials. This example has seen actual wear and is holed at the top for suspension, as always. Both sides show numerous edge bumps, appearing quite similar to the piece offered in the 1986 Dreyfuss Sale (which realized $5,060 in that long-ago sale, nearly three decades ago).

Julian indicated that this size may only have been struck in Silver, but since the publication of his “Medals of the United States Mint” in 1977, a very few Bronze pieces have appeared. In his 1986 supplement, Rich Hartzog could find only seven records of this 62 mm size and Silver metal combination appearing at auction. As such, being of higher rarity, Hartzog listed a value of this size higher than the largest 76 mm Silver version! Indian Peace Medal prices have advanced steadily over the past few years, as more and more collectors recognize their true rarity and immense historical value. The only sale we could find of this medal was in Stack’s Ford XVI Sale of October 2006, in which a Fine to Very Fine specimen hammered for $13,500. We’ve offered later silver and bronze versions, but had only one 76 mm “Original” struck in Silver which brought $14,375.00 in our October 2000 auction sale.

Now, nearly a decade and a half later, we are extremely pleased to offer this current, Exceedingly Rare 1857 “James Buchanan” Silver Small Size Indian Peace Medal to our cadre of serious collectors. An impressive example of a great Indian Peace Medal rarity that has seen true actual wear from a long period of being proudly worn for display.