23 & 22 appear to match genuine design although the mint mark on the 23 looks questionable. Could have taken a hit, cannot tell from pic. 22 looks good to me.
Have you measured it's SG? Apparent thickness at the edge is meaningless. A well struck genuine coin will be thicker at the edge than a typically struck coin. While what you said IS possibly true it is not good enough to condemn the coin. The coin on the other hand IS slightly out of tolerance. The maximum weight for a new Peace dollar should be 26.83 grams, which on a scale accurate to a single decimal point would show as 26.8. But to show as 26.9 it would only have to be .03 grams out of tolerance.
Yup. Looks thick. Check it with a caliper to satisfy everyone's curiosity and report the findings. Compare the overall diameter then compare the thickness of similar spots on each coin.
I was not condemning the coin based on this FACT alone. Look at the observations posted above mine, wrong number of rays on the reverse, letter O in ONE is completely wrong and also notice how wrong the mountains are on the reverse. This thing IS a fake. The fact IS cast counterfeit Peace and Morgan Dollars were produced thick to achieve the proper weight and this is just another nail in the coffin. There has been much discussion about this on another site and I'm kind of amazed you apparently missed all of it.
I still agree with Dave, regardless of the SG, the 1925 is counterfeit, no question about it. Wrong design elements seal it for this one.
Some examples, are worth good money to, The ones that help further our knowledge of fakes. I sometimes flash back to the early CC Morgan I almost bought. It was very lustrous, probably AU58, It didn't measure up, in Diameter, nor weight. I look back sometimes and wish I could have the chance back. The shop owner who I have got to know pretty well, said he got a hundred and a quarter more than what I could have bought it for.
I am not sure what you should do. You can keep it as reference. @Insider might know a good route to take?
I've accumulated a few fakes. I keep them about as well-organized as the rest of my collection, that is to say, "not at all". I intend to put them in flips with clear labels explaining that they're fake, with some details about each -- but so far, those intentions are still part of the pavement I'm speeding over, as it were. I don't plan to stamp or deface them, although some say I should.
I didn't miss anything, I think it is probably fake as well (for other reasons). It's just that the apparent extra thickness doesn't mean anything because a genuine coin could have the same appearance. And while the counterfeiters do sometimes use slightly thicker planchets to to get the weight right that wasn't common with cast fakes. It was more likely with struck pieces because it would be easier to do by just rolling the strip slightly thicker. Making a cast coin thicker would seem to me to be a bit more difficult. And unless it a pretty old fake it is not likely to be cast anyway.
Chalk it up for experience. There are lots of fakes out there being sold and we do our best to avoid them but most of us have bought a few that looked genuine at the time. We all have to keep our guard up and weigh every coin we buy and check diameter with accurate scales and calipers. Our "friends" in China are getting better with their fakes and it's going to get much harder to detect fakes