The Peace Silver Dollar was minted by the United States Mint from 1921 to 1935, consisting of 90% silver. Each coin contains 0.77344 ounces of pure silver.
Peace Silver Dollar
Production of silver dollars in the U.S. had halted after 1904 due to a decline in demand for these coins in everyday transactions. However, the situation changed with the Pittman Act of 1918, which mandated the melting of existing silver dollar inventories to be either sold as bullion or converted into new coinage.
As a result, millions of old silver dollars were melted down, and the mint resumed production of new coins in 1921. Initially, the U.S. Mint began striking Morgan Dollars, which were originally produced between 1878 and 1904. By December of that year, the new Peace design was adopted.
The original 1921 design featured a high relief, but it was deemed impractical for everyday use as the coins did not stack properly. In 1922, the U.S. Mint modified the design to a shallower relief, which was used for the remainder of the coin’s production.
In 1965, under presidential direction, the Peace Silver Dollar was once again struck, this time dated 1964. However, these coins were never issued for circulation as Congress intervened, ordering the destruction of all 1965-dated pieces.
The coin’s name, “Peace Silver Dollar,” comes from the word “PEACE,” which is prominently featured on the reverse.
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Design of the Coin
The Peace Silver Dollar was designed by Anthony de Francisci, an Italian immigrant who won a public competition held by President Warren G. Harding.
On the obverse of the coin, Francisci depicted a left-facing portrait of Lady Liberty, her mouth slightly open. Surrounding her portrait are the inscriptions “LIBERTY,” “IN GOD WE TRUST,” and the year of minting.
The reverse side shows a bald eagle perched on a rock, holding an olive branch in its talons. The inscriptions include “PEACE,” “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” “ONE DOLLAR,” and the mintmark, if present.