The Silver Peace Dollar is a United States coin minted from 1921 to 1935. It was introduced as a commemorative coin to celebrate the end of World War I and was intended to symbolize peace and unity. The Silver Peace Dollar was also the last circulating silver dollar in the United States until the introduction of the Silver Eagle in 1986.
The idea for the Silver Peace Dollar originated in the early 1900s. But it was not until after World War I that the coin was finally authorized by Congress in 1921. The coin was designed by sculptor Anthony de Francisci, who won a competition to create the design.
The first coins were minted later that same year. The Silver Peace Dollar was produced annually until 1928, and then again in 1934 and 1935, before production ceased permanently.
Design and Composition of The Silver Peace Dollar:
The Silver Peace Dollar was designed by Italian-American sculptor Anthony de Francisci, who won a competition to design the coin in 1921. The obverse side of the coin features the profile of Lady Liberty facing left, with the word “Liberty” inscribed above her head and the motto “In God We Trust” below. The reverse side of the coin features a bald eagle perched on a rock. Holding an olive branch in its talons, with the word “Peace” inscribed above and the words “United States of America” and “One Dollar” below.
The Silver Peace Dollar is made of 90% silver and 10% copper, with a total weight of 26.730 grams (0.86 troy ounces) and a diameter of 38.10 millimetres (1.5 inches). The edge of the coin is reeded, meaning it has small ridges around the circumference. The coins were minted at several locations across the United States. Including Philadelphia, Denver, and San Francisco. The mint mark can be found on the reverse side of the coin, just above the word “One.”
Circulation and Collectibility of The Silver Peace Dollar:
The Silver Peace Dollar was minted from 1921 to 1935. But not all years saw the same amount of production due to fluctuations in demand. In the first year of production (1921), over 86 million coins were minted. But in later years, production numbers dropped significantly. The years with the lowest mintage numbers, such as 1928 and 1934, are the most difficult to find in good condition.
Factors affecting collectibility:
Several factors affect the collectibility and value of Silver Peace Dollars. One of the most important factors is the condition of the coin. Coins that are in excellent condition, with minimal wear and no damage, are highly sought after by collectors and investors. The rarity of a particular year or mint mark can also greatly impact its value. Coins that were produced in smaller quantities, or at specific mint locations, are often worth more. Finally, the historical significance of a particular coin can also affect its value. Such as coins minted in the first year of production or coins that were part of significant collections.
Value and pricing:
The value of a Silver Peace Dollar can vary greatly depending on its condition, rarity, and historical significance. As of 2023, a typical circulated Silver Peace Dollar might be worth around $20-$30. While an uncirculated coin can be worth hundreds or even thousands of dollars, depending on its condition and rarity. Mint condition coins, those graded MS-65 or higher, can be worth tens of thousands of dollars or more. The value of Silver Peace Dollars can also be affected by changes in the silver market. As the coins contain a significant amount of silver.
Interesting Facts and Trivia:
Significance of the year 1921:
The year 1921 is significant for Silver Peace Dollars because it was the first year of production and the year with the highest mintage numbers. This year saw over 86 million coins minted, which is more than any other year of production. Additionally, the 1921 coins were produced with a high-relief design. This means the design elements are raised higher than the surrounding surface of the coin. Also, this high-relief design caused production issues and was changed to a lower-relief design in later years.
The design of the Silver Peace Dollar was not without controversy. Some critics felt that the image of Lady Liberty on the obverse side was too masculine. While others felt that the eagle on the reverse side was too small in relation to the size of the coin. Additionally, some people felt that the inscription of the word “God” on the coin violated the separation of church and state. Despite these criticisms, the Silver Peace Dollar remains a beloved and iconic coin to this day.
Famous collections and auctions:
There have been several famous collections and auctions featuring Silver Peace Dollars. One of the most famous collections is the Jack Lee Collection, which contained one of the most complete sets of Silver Peace Dollars ever assembled. The collection was sold in a series of auctions in the early 2000s and fetched a total of over $23 million. Another famous auction was the sale of the “King of VAMs” collection in 2018, which featured rare varieties of Silver Peace Dollars and brought in over $600,000.
Finally, a single Silver Peace Dollar sold for a record-breaking $4.1 million in 2021, making it the most expensive Silver Peace Dollar ever sold at auction.
The Silver Peace Dollar is important to both collectors and investors. Collectors appreciate the coin’s historical significance, unique design, and rarity. The coins have been collected since their inception.
Many collectors strive to obtain a complete set of Silver Peace Dollars. Investors, on the other hand, value the coins for their silver content and potential for appreciation in value over time. The coins are a tangible asset that can provide a hedge against inflation and economic uncertainty. The Silver Peace Dollar remains an important and highly valued coin in the numismatic world.
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