Peace Dollars

The Historical Origins of the Peace Dollar

The Peace Dollar succeeded the iconic Morgan Dollar, marking a shift in American coinage that reflected new ideas and the desire to commemorate peace. The concept of the Peace Dollar emerged as a way to celebrate the victory and peace following World War I. Frank Duffield, the editor of “The Numismatist,” proposed the idea in 1918 to release a victory coin that would be available at face value to honor this newfound peace. Despite strong support from numismatists, Congress did not immediately approve the necessary legislation to mint the silver coin. However, due to a provision in the Act of 1890, the Secretary of the Treasury had the authority to introduce a new coin after 25 years of an existing design. As a result, in December 1921, the Morgan Dollar was replaced by the Peace Dollar, bypassing the need for congressional approval.

The Peace Dollar's Symbolism and Design

The Peace Dollar, minted from 1921 to 1928 and again from 1934 to 1935, is notably the last U.S. silver dollar coin to have circulated. This coin holds significant historical value as it symbolizes America’s emergence as a world power following World War I. In order to quickly release the Peace Dollar in 1921, the Commission of Fine Arts held a 10-day competition to choose the design. New York sculptor Anthony de Francisci won the competition, and his obverse design featured a lifelike portrait of Lady Liberty, modeled after his wife, Teresa de Francisci. Unlike earlier representations of Liberty, this version had a more natural appearance, complete with a radiant crown and wind-swept hair. The reverse side depicted an American bald eagle holding an olive branch, symbolizing peace, with the sun’s rays shining in the background. Above the eagle were the inscriptions "United States of America" and "E Pluribus Unum."

In 2021, the U.S. Mint revived the Peace Dollar series to celebrate the 100th anniversary of the coin's original release. This modern reissue, struck in .999 fine silver, honors the legacy of the Peace Dollar while incorporating contemporary minting techniques for collectors and investors alike.

Production and Rarity of Peace Dollars

Although the Peace Dollar series was relatively short-lived, it was minted in large quantities across three U.S. mints: Philadelphia (no mint mark), Denver (D), and San Francisco (S). Collectors seeking to complete a full date-and-mint set will find that, while there are no major rarities, the Peace Dollar series offers its own unique challenges. With just 24 coins in the entire run, the series provides a manageable yet rewarding pursuit for numismatists. Certain years, such as the 1934 Peace Dollar, are particularly sought after due to their lower survival rates, making them valuable in today’s market.

Why Buy Peace Dollars: Historical and Investment Appeal

Peace Silver Dollars carry a deep historical significance, connecting to both World War I and the economic impact of the Great Depression. During World War I, many American Silver Dollars, including Morgan Dollars, were sold to Great Britain and melted down to support the war effort. Peace Dollars were introduced to replace these coins, and their creation highlights America’s role in both global conflict and recovery. As silver prices increased, many Peace Dollars were also melted down, further contributing to their scarcity. Their historical importance, along with their numismatic appeal, makes Peace Dollars desirable for both collectors and investors. Additionally, their 90% silver content makes them an excellent option for those looking to invest in junk silver.

Collecting Silver Peace Dollars

Peace Dollars remain highly popular with both investors and collectors, much like the Morgan Dollar. Their unique design, silver content, and limited mintage period make them a valuable long-term investment. Collectors appreciate Peace Dollars for their age, history, and patriotic design, while investors are drawn to their silver content and liquidity. Certified Peace Dollars, which have been professionally graded, carry even greater numismatic value and appeal. As legal tender of the United States, Peace Dollars are well-recognized and offer a level of divisibility that enhances any investment portfolio. At Bullion Exchanges, we offer a wide selection of Peace Dollars, providing you with the opportunity to own a piece of American numismatic history. 

If you have any questions or need assistance finding the perfect Silver Peace Dollar for your collection, contact us today. We're here to help you make the best choice for your portfolio.