Collecting the 1921 Silver Dollar – a Vital Date Within the Peace Dollar Series

Until 1921, no new silver dollars had been minted in the us considering that the 1904 Morgan Dollar. Demand for silver dollars was low & there was clearly no requirement for any additional mintage. The mix of a part of legislation referred to as the Pittman Act & the need for a coin to commemorate World Peace after the end of WWI in 1918 set the stage for that 1921 Peace Silver Dollar to be sold.

The Pittman Act necessary 350,000,000 existing Morgan Dollars to be melted for bullion & for Congress to get very same level of silver from US mines at the fixed tariff of 1 an oz. This silver would have been to be familiar with mint a like amount of new silver dollars, & the resulting 23 cent difference per dollar being considered a subsidy to the country’s silver producers.

The Morgan Dollar was minted in any respect 3 mints in 1921 for the tune of approximately 86 million coins. At the same time the newest Peace Dollar had been developed by Anthony DeFrancisci, a noted designer of medals. His design was decidedly distinctive from previous designs inside a handful of notable ways. First, his depiction of LIBERTY faced left rather than right as she did within the Morgan Dollar & Barber coins with the era, & she wears a crown of rays around her head. His Eagle is at rest with wings folded on the reverse, in lieu of in flight as or with wings spread as in previous coin designs. The Eagle stands on the mound using the word PEACE onto it, with rays extending out of the mound. Essentially the most distinct difference was the relief of the coin. Like a designer of medals DeFrancisci used our prime relief design that the medal would bear, something not tried over an US coin design.

When the Peace design was ready, mintage of Morgans was suspended & 1,006,473 1921 Peace Dollars were struck in the Philadelphia mint. This is the one year the coin had not been minted a minimum of 1 of the other 2 branch mints, making the this 1921 silver dollar the sole design to never bear a mint mark. In subsequent years the mint mark would seem around the reverse under the Eagle’s tail feathers. The coins were very detailed due to the high relief, but this also made them difficult stack & the structure was changed to low relief in 1922 & there after the coins were built with a standard low relief.

The mixture of the low mintage, unique high relief design, & fresh of release makes the 1921 Peace Dollar an extremely collectible & very desirable coin. The structure was halted only for seven years in 1928 due to requirements in the Pittman Act being met. It designed a brief reappearance in 1934 & 1935 prior to being once again discontinued. It turned out the very last true Silver Dollar design in the usa, using the Eisenhower & Susan B. Anthony Dollars being clad without having silver content.

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