Collection: Type 1, High Relief

Designed by: Anthony DeFrancisci
Issue Dates: 1921-1922
Composition: 90% silver, 10% copper
Diameter: 38.1 mm
Weight: 26.73 grams (412.50 grains)
Edge: Reeded
Business Strike Mintage: 1,006,473 (1921 only), all 1922 coins destroyed
Proof Mintage: Fewer than 20

1921 Peace Dollar – High Relief First Year of Issue | Key Type Rarity in U.S. Silver Coinage

The 1921 Peace Dollar holds a special place in American numismatics as both the first year of issue and the only Peace dollar struck in high relief for circulation. Authorized to commemorate the end of World War I and symbolize America’s commitment to peace, the design—created by renowned sculptor Anthony de Francisci—was rendered with bold, elevated relief and deeply concave fields, producing a stunning visual presentation reminiscent of classical coinage.

Design & Historical Context

Struck in late December 1921, just under one million high relief examples were produced at the Philadelphia Mint. These coins feature Liberty’s radiant crown and sharply defined facial features, coupled with a majestic eagle on the reverse, resting atop a rock inscribed PEACE, clutching an olive branch—a powerful postwar message.

While visually dramatic, the high relief format proved impractical for mass production. Dies wore out quickly, and achieving full strikes proved difficult on hard planchets. As a result, production in early 1922 began with the same high relief hubs, but the Mint quickly abandoned the format after roughly 35,000 coins were struck—none of which were officially issued. These were later melted under the terms of the Pittman Act, and the coin's design was revised to lower relief for improved durability and consistency.

Proof Issues: Extreme Rarity

An estimated 20 Proof 1921 and 1922 Peace Dollars were struck in matte and satin finishes during experimental phases. These ultra-rare specimens are believed to have been test strikes or presentation pieces and are among the most coveted U.S. silver dollar rarities, commanding six-figure prices when offered in top condition.

Collector Significance

• Key Type Rarity: The only high relief Peace dollar struck for circulation, making it a must-have for type set collectors and Peace dollar specialists alike.

• Historical Importance: As the inaugural coin in the Peace dollar series and a symbol of post-war optimism, it embodies a unique transitional moment in American coinage.

• Visual Appeal: The high relief 1921 Peace dollar remains one of the most aesthetically impressive silver coins ever struck by the U.S. Mint.

Whether you're building a complete Peace Dollar set, acquiring standout type coins, or investing in historic 20th-century U.S. silver coinage, the 1921 High Relief Peace Dollar is an essential centerpiece that continues to rise in collector demand.

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