Peace Silver Dollars
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The US Mint introduced the Peace Dollar in 1921. It was the last dollar coin to be made of silver. Since then, this one-dollar silver coin has been an object of desire for both investors and collectors alike. From the early silver dollars, such as the Seated Liberty, to the beloved Morgan Dollar, to its predecessor, the Peace Dollar, these coins are beloved for their beauty, size, and frequent availability.
Silver has been used as currency since ancient times. Many experts believe silver can be a sensible store of value. On top of that, due to its constant demand from the industry, long-term projections suggest it can perform well in the long run.
Nevertheless, simply having a bit of silver is not enough to be considered an investment-grade silver coin or collectible piece. The Peace Silver Dollars contain 90% pure silver. In addition, their first strike occurred a century ago. In fact, the US Mint has recently announced they will be re-issuing this coin in 2021 to celebrate its 100th anniversary.
The beauty and symbolism represented by the Peace Silver Dollar speak to a true piece of American history. Any coin collector should consider adding one to their coin collection.
Peace Silver Dollar History
In 1920 the American Numismatic Association held a convention in Chicago. The renowned numismatist Farran Zerbe, former president of the ANA, presented a paper defending the creation of a coin to commemorate America's victory in World War I and the peace treaty between the Allied forces, Germany and Austria.
The idea of a "Peace Coin" got enough support to inspire a bill in Congress, which would eventually reject it. Nevertheless, the Morgan Silver Dollar was in production for more than 25 years. As such, the U.S. Mint could introduce a new coin design with only the approval of its director and the Secretary of the Treasury.
Given that no Congress law was actually required, the Mint joined forces with the U.S. Commission of Fine Arts to create a contest inviting sculptors to send in design proposals for the new coin with the "peace" theme. The winner would receive a prize of $1,500.
The Winner Design
Anthony de Francisci's design was the chosen one for the new silver dollar coin. As stated by the contest rules, he depicted Lady Liberty on the obverse (as modeled by his wife Teresa) and an eagle on the reverse side.
Lady Liberty on the obverse wears a crown resembling the one in the Statue of Liberty. The word "LIBERTY" appears on the top, along the outer rim, and the motto "IN GOD WE TRUST" below, along with the mint year.
The reverse shows a bald eagle at a rest state. It clutches an olive branch on its talons, symbolizing peace. Rays of the sunrise are visible on the horizon, in the background. On the outline, above the eagle's head, are the inscriptions "UNITED STATES OF AMERICA" and the motto "E PLURIBUS UNUM". The denomination "ONE DOLLAR" is on the sides of the eagle, with the mintmark close to the tip of the bird's wings.
Peace Dollars carry the "D" mintmark for the ones minted in the Denver Mint or the "S" for the San Francisco Mint. The specimens from the Philadelphia Mint bear no mint marks.
Peace Dollar Mintage
The US Mint produced Peace Silver Dollars from 1921 to 1928. Production stopped a few years during the Great Depression but returned for two more years in 1934 and 1935.
In 1964 Congress approved the production of more Peace Silver Dollars. No coins were released to circulation, though, as collectors inflated their prices in anticipation. In fact, any Peace Dollar bearing the 1964 mint year is either a counterfeit or illegal to own and could be subject to confiscation.
Buy Peace Silver Dollars from SD Bullion
If you are interested in collectible coins or investing in silver bullion, SD Bullion has you covered. Make sure to check our products in stock. From rare coins to silver and gold uncirculated coins, we offer a variety of products to sate your enthusiasm. Make sure to contact our customer support if you have any queries. We'll be happy to assist you.