Peace Silver

What do they mean 3 rays or 4 rays on a silver peace dollar?

It is about the number of rays from the sun on the back of the coin.
1935 S — “Found with either three or four rays below ONE on the reverse.”

http://www.coinfacts.com/silver_dollars/peace_dollars/peace_dollars.html

If you look at the picture at the top of the page, you will see that there are extensions of some of the rays up under the word “ONE” behind the eagle. That is what they are referring to.

Horace Silver – Peace

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