The Peace design was issued from 1921 to 1935. If your coin is dated 1878 it's called a Morgan dollar.
Please see the Related Question for more information.
The 1881 "Peace Dollar" does not exist. Peace Dollars were minted starting in 1921. Prior to that the Morgan dollars were minted from 1878 up to and including 1921 (Yes both Peace and Morgan dollars were minted in 1921.
what is the current value of an 1878 silver dollar
A 1922 dollar with the word "Peace" on the back would be a Peace dollar rather than a Morgan dollar. "Morgan" refers to George T. Morgan, the artist who designed the silver dollars minted from 1878 to 1904 and in 1921. There's more information at the question "What is the value of a 1922 US silver dollar?"
About a dollar.
Morgan dollars were minted from 1878 to 1904 and in 1921. Please check the back of your coin. You have a Peace dollar rather than a Morgan.
A circulated 1878 Morgan silver dollar can be worth 32 to 156 dollars.
The Philadelphia issue (no mintmark) 1878 Trade Dollar is a Proof only coin with a retail value of about $1,000.00 but take it to a dealer for a assessment.
The Liberty head design was used on over several different coins in 1878. Please post a new question with the coin's denomination, with the wording "What is the value of an 1878 US (coin denomination)?" e.g. What is the value of an 1878 US silver dollar? or What is the value of an 1878 US 10 dollar gold piece.
Yes, yes I can. In 1878 the United States Mint first started minting the Morgan Dollar series which continued on until 1921 when it was replaced by the Peace Dollar. Below is a link to a photograph of an 1878 Uncirculated Morgan Dollar.
The Philadelphia issue (no mintmark) 1878 Trade Dollar is a Proof only issue. The coins have a retail value of about $1,000.00. Take it to a coin dealer for an assessment.
Morgan dollars were minted from 1878 to 1904 and in 1921. Any silver dollar dated 1923 is a PEACE dollar, as you can see by looking at the reverse side. The Peace design was issued from late 1921 to 1935. There's more information at the Related Question.
The only value is if there is silver in it, if not no collection value at all.