Own a Peace Dollar Honoring the End of World War I
The Peace Dollar was minted from 1921 to 1928, then from 1934 to 1935. A successor to the Morgan Dollar, it was issued to commemorate the end of World War I. It was made of 90% silver and proved to be the final US silver dollar.
During World War I, the Pittman Act authorized the US Mint to melt millions of... more
Own a Peace Dollar Honoring the End of World War I
The Peace Dollar was minted from 1921 to 1928, then from 1934 to 1935. A successor to the Morgan Dollar, it was issued to commemorate the end of World War I. It was made of 90% silver and proved to be the final US silver dollar.
During World War I, the Pittman Act authorized the US Mint to melt millions of silver dollars stored in the vaults. The silver was then sold to the United Kingdom for its war effort. The law also required the minting of new silver dollars in 1921. Some saw the upcoming production of coins as an opportunity to introduce a new design.
The idea for a new coin commemorating the restoration of peace came from coin dealer Farran Zerbe. In August 1920, a paper he wrote promoting the new coin was read at the American Numismatic Association’s convention. A committee was formed to present a proposal for a new commemorative dollar to Congress.
The proposal was making slow progress through Congress. Meanwhile, the director of the US Mint met with the chairman of the US Commission of Fine Arts. They decided to hold a competition to allow select sculptors to submit designs for the new coin. By the end of 1921, supports of a new Peace Dollar realized they didn’t need Congressional approval because it had been more than 25 years. (According to a law passed in 1890, the Secretary of the Treasury could change coin designs after that time.) In December, the designs submitted by the selected sculptors were reviewed, and Anthony de Francisci’s concept was chosen.
The obverse (heads) side of the coin shows the head of the goddess Liberty. De Francisci used his wife as the model for his depiction of Liberty. She is facing left, and it seems the wind is blowing her hair. Her crown resembles that of the Statue of Liberty.
The reverse of the Peace Dollar pictures an American bald eagle perched majestically on a rock. Beneath the bird is the word “PEACE.” The eagle is clasping an olive branch in its talons, a symbol of peace. This image was also created by de Francisci. In his original design, the eagle was holding a broken sword as a sign the war was over. When photos of the new coin were published in newspapers, many people objected to this, because a broken sword symbolizes surrender. America had not been beaten in World War I, but had been victorious. As a result of the controversy, the design was modified to show the olive branch instead.
Production of the new Peace Dollar began on December 28, 1921, at the Philadelphia Mint. The first coin struck was given to President Harding. Before the new year, over 1 million of the new coins had been produced. The Peace Dollar went on sale on January 3, 1922. They were instantly popular with consumers and collectors. Soon the Denver and San Francisco Mints were also producing the new dollars.
Production on the Peace Dollar ended in 1928, when enough coins had been struck to replace those melted during the war. Production began again in 1934, when Congress required the Mint to buy a large supply of silver. The last Peace Dollar was struck in 1935. It represented the final silver dollar the US would produce for circulation.
Year Issued: 1926
Face Value: $1.00
Mint: San Francisco
Mintage: 6,980,000
This 1926 Peace Dollar is a fitting tribute to the end of World War I and America’s place in the world as a lead nation. It has been lovingly preserved and is waiting to be added to your collection. Order yours today.
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