I agree. It's not too heavily worn, but it's an extremely common date, and it has rim damage, scratches, and unattractive toning. That said, Morgan and Peace dollars usually go for a bit more than "melt value". They also contain more silver than four equally-worn silver quarters, two silver halves, or ten silver dimes.
If you were selling, and someone offered you $20, you'd be doing alright. That's what's sorta cool about these, for 20 or less you could own a nice little chunk of silver from our history!
I'll probably keep it. Who knows in 10 years maybe I'll get more . Maybe economy goes down again and silver prices will go up. I hope not but never know. Looks like now is the time to buy not to sale.
Peace dollars are my favorite coins they look awesome and no matter what condition it is in it will be worth $18 dollars at least
They're one of two favorite coins for me; the other is the Indian Head Cent. I checked my database and found that I have only one 1923P for which I paid $23.53. It is quite nice but obviously circulated. IMHO, I would sell or trade the OP's '23 and buy a nicer one for less than $25.
If it's only worth a little more than melt, give it a dip in silver jewelry cleaner for 30 seconds and really see what you have, really can't lose but it may show some better features Don't forget it is a very common coin