Peace Dollar (1921 - 1935)

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The Peace Dollar, minted from 1921 to 1935, stands as a lasting symbol of America's hope for peace following World War I. Designed by Anthony de Francisci, this silver dollar replaced the Morgan Dollar, delivering a fresh and modern look that reflected the optimism of the early 20th century.

Key Specifications

  • Designer: Anthony de Francisci
  • Issue Dates: 1921–1935
  • Composition: 90% silver, 10% copper
  • Diameter: 38.1 mm
  • Weight: 26.73 grams (412.50 grains)
  • Edge: Reeded
  • Business Strike Mintage: 190,577,279
  • Proof Mintage: Fewer than 20

Historical Context

After a 15-year hiatus in dollar coinage from 1905 to 1920, silver dollars returned in 1921. Initially, the old Morgan design was revived, much to the disappointment of numismatists who desired a more contemporary aesthetic. Under pressure from the numismatic community, the Commission of Fine Arts held a competition to create a new design. Anthony de Francisci's vision, featuring his wife as Miss Liberty, was chosen for its artistic merit and forward-looking symbolism.

Design Highlights

Obverse

  • Miss Liberty is depicted wearing a radiant crown, reminiscent of the Statue of Liberty.
  • The inscription LIBERTY spans the top, with IN GOD WE TRUST and the date appearing below.

Reverse

  • The reverse showcases a majestic eagle perched on a mountaintop, clutching an olive branch with PEACE inscribed on the rock.
  • This peaceful imagery replaced the initial design featuring a broken sword, which faced public criticism.

Two Varieties of Peace Dollars

Type 1: High Relief (1921–1922)

  • Mintage: 1,006,473 in 1921 (all 1922 circulation strikes destroyed)
  • Unique Characteristics:
    • Deeply dished fields and raised devices create a stunning visual effect.
    • High relief coins proved impractical for mass production due to die wear and striking difficulties.
  • Rarity:
    • Fewer than 20 Proofs (dated 1921 and 1922) survive, making them highly coveted among collectors.

Type 2: Low Relief (1922–1935)

  • Mintage: 189,570,806
  • Improved Production:
    • The relief was lowered in 1922 to facilitate mass production and ensure longevity of the dies.
  • Minting Details:
    • Production continued through 1928 and resumed in 1934 and 1935.
    • A 1964-D Peace Dollar was struck in limited numbers but later destroyed, sparking persistent rumors of surviving examples.

Collectibility

Key Dates and Rarities

  • 1928 Philadelphia: The lowest-mintage Peace Dollar and a key date in lower grades.
  • 1934-S: A condition rarity, especially sought after in mint state grades.

Affordability

  • Common dates in MS63 and MS64 grades are accessible to most collectors, while ultra-high-grade examples, especially from San Francisco and later years, command significant premiums.

Legacy of the Peace Dollar

The Peace Dollar remains a cherished series for its artistry, historical significance, and connection to America's post-war optimism. Its obverse design has come to symbolize liberty and peace, while its reverse captures the tranquil resolve of a nation healing after conflict.

Shop Peace Dollars at ParadimeCoins.com

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