The 2021 Peace and Morgan Silver Dollars

The Morgan Silver Dollars and Peace Silver Dollars are two quintessential coins for any silver coin lover. These coins are famous US silver dollars from the late 1800s through 1935. For 2021, two numismatic enthusiasts Thomas Uram—Chairman of the Citizens Coinage Advisory Committee (CCAC)—and CCAC member and numismatic author Michael Moran, finally received approval via the accepted legislation of the 2021 Morgan and Peace Silver Dollars

2021 marks the centennial of the Peace and Morgan Silver Dollars transition, therefore, these two citizens did not want history to forget the silver dollars. However, these coins will not technically be commemorative coins. Otherwise, they are not acceptable owing to preexisting regulations. Specifically, the current legislation only allows the US to release two specified commemorative coin programs every year, and no more. As of September 22, these coins are effectively legal, and you can expect to see them in the coming year!

The Key Points of the Legislation:

  • The Denver, Philadelphia, and San Francisco Mints can strike the Morgan Silver Dollars with mintmarks. 
  • Some Morgan Dollars may feature a Carson City and New Orleans privy mark to honor the history of these two former facilities. 
  • The Philadelphia Mint may strike the high relief Peace Silver Dollars.
  • Mintages, finishes, and pricing for these potential coins are currently unknown.

Please feel free to check this article anytime for updates.

A Closer Look at the 2021 Morgan and Peace Silver Dollars

The House approved the necessary legislation for the centennial anniversary of the silver dollars on September 22.  Rep. Andy Barr originally put forth the 1921 Silver Dollar Coin Anniversary Act, officially known as H.R. 6192, on March 11, 2020. The Act reached the Senate on Sept. 23.

So far what we know is there will likely be Silver Morgan issues with privy marks to pay homage to two former minting facilities (Carson City and New Orleans). Furthermore, the Denver, Philadelphia, and San Francisco Mints will all strike both the Peace and Morgan dollars. But, the 2021 Peace Silver Dollars may be struck at the Philadelphia Mint with the original high relief. The San Francisco, Philadelphia, and Denver Mints will most likely strike the 2021 Morgan Silver Dollars. 

As far as specifications go, the bill promulgates the Morgan and Peace Silver Dollars must be struck with no less than .900 fine silver. Special editions are not officially confirmed yet, but the official reports currently suggest there could be Proof, Uncirculated, and even special edition sets. These sets would include coins of different finishes released from several Mints.

The Line-Up of the 2021 Morgan Silver Dollars

2021 Morgan Silver Dollar Centennial Coin CC Privy 1921 100th Anniversary

 

2021 Morgan Silver Dollar Centennial Coin O Privy 1921 100th Anniversary

 

2021-D Morgan Silver Dollar Centennial Coin 1921 100th Anniversary

 

2021-S Morgan Silver Dollar Centennial Coin 1921 100th Anniversary

 

2021-P Morgan Silver Dollar Centennial Coin 1921 100th Anniversary

 

The Line-Up of the 2021 Peace Silver Dollars

2021-P Peace Silver Dollar High Relief Centennial Coin 1921 100th Anniversary

What are the Peace and Morgan Silver Dollars?

Coin collectors widely appreciate and collect the Morgan Silver Dollars and Peace Silver Dollars for their designs and high silver content. About .900 fine silver and .100 copper make up these coins. The history that both these coins carry documents the US’s economic past and important global history. With the pending release of the 2021 Peace Silver Dollars and 2021 Morgan Silver Dollars, you might see these coins among the top-sellers for the year. 

The Morgan Silver Dollar

US Mint Assistant Engraver George T. Morgan was the man to design the first silver dollar of the two, the Morgan Silver Dollar. The Morgan Silver Dollar spotlights Lady Liberty on its front and the US Seal on the back. Back in its time, four US Mints struck the Morgan Silver dollar from 1878 until 1904. Later, three mints struck these again in 1921 after WWI. The discovery of the Comstock Lode in 1859 closely ties the Morgan Silver Dollar to the US’s westward expansion because the groundbreaking discovery offered the US market a larger silver pool. 

The Morgan Silver Dollar became the first standard silver dollar struck since the Coinage Act of 1873. This act effectively ushered the US towards the gold standard, which ceased private silver coining. This gave the US the ability to prevent silver’s inflation. Because this act permitted very specific silver dollars, this act deemed the Morgan Silver Dollar acceptable. The Morgan Dollar was minted from 1878-1904 & 1921 from the Philadelphia, San Francisco, Denver, New Orleans, and Carson City Mints.

1878-1921 Morgan Silver Dollar Cull (Random Year) Bullion Exchanges

1878-1921 Morgan Silver Dollar

The history this coin carries does not merely end with the Comstock Lode. Actually, by 1918, the Pittman Act came into play. This act mandated the melting of approximately 270 million Morgan Silver Dollars to help Great Britain’s economy during WWI. 

Great Britain needed assistance because of German propaganda released in India. This propaganda falsely swindled many Indian citizens into believing they couldn’t redeem silver with British banknotes. As a result, citizens ran for silver and Britain could not meet the demand for the silver. So, the Pittman Act allowed the US to melt down the Morgan Silver Dollars to sell to the UK for $1 per troy ounce. 

As a result, over 270,000,000 Morgan Silver Dollars are forever lost. This was actually about half of the total mintage for these coins. Years later, the US found many more silver dollars in the Treasure vaults. However, not many of these coins ever left the Treasury. As a result, today’s prices for collecting uncirculated Morgan Silver Dollars vary depending on condition, mintmark, and the coin’s grade. The 2021 Morgan Silver Dollar will have different editions commemorating the mints that struck the coins and privy marks for those that no longer exist. 

The 1921 Peace Silver Dollar

Thanks to another provision of the Pittman Act, the Peace Silver Dollar came to fruition. The US needed to replace the lost coins after the war. However, there was no approved design when the time came for the new coin. As a result, the Morgan Silver Dollars briefly resurfaced in 1921 but were replaced by the end of the year by the Peace Silver Dollars. 

A competition helped the US decide on the new design for the obverse and reverse of the new silver dollar. Anthony de Francisci entered the competition, and his Peace Silver Dollar design won. His wife, Teresa Cafarelli de Francisci modeled as his Lady Liberty. This romantic story is the result of her childhood attachment to Lady Liberty. The statue in NYC was the first piece of the US she laid eyes upon when her family immigrated over. So, she posed for him in the way she viewed the statue as she entered the US for the first time at the age of five. 

The new design was not implemented until the end of the year because of a design discrepancy. The Peace Dollars were made from 1921-1935, produced by the Philadelphia, Denver, and San Francisco Mints.

1922-1935 Peace Silver Dollar BU (Random Year) Bullion Exchanges

1922-1935 Peace Silver Dollar BU (Random Year)

Why Was Production of the 1921 Peace Silver Dollars Delayed?

The reverse of the Peace Silver Dollar actually sparked some controversy. The accepted reverse we know today bears a bald eagle clutching an olive branch in its talons. It sits atop a rock as the sun rises. The original illustration, however, features the eagle with a broken sword. Because this coin was meant to celebrate the victory of the Allies of WWI, the broken sword seemed inappropriate as it is often a mark of defeat. So, the US Mint had to postpone production of the Peace Silver Dollars until the end of the year. This gave them time to fix the dies—by hand—used to strike the coins.

The Peace Silver Dollar is the only classic circulating US silver coin struck with high relief. Therefore, the 2021 Peace Silver Dollar will feature the same high relief like the first coin. But, back then, this level of relief led to production issues. Because of the high pressure necessary to achieve the high relief, the dies often broke. So, the December 1921 Peace Silver Dollar has a relatively small mintage of just over one million. When comparing it to the silver Morgan dollars, the Peace Silver Dollar is extremely rare. The US Mint decided to lower the relief of the coins, which is why the mintage of the Peace Silver Dollars ballooned in 1922 with over 50 million coins. This was the most for this coin in its history.

 

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