Peace in Your Pocket: The Enduring Appeal and History of Silver Peace Dollars

When we hold any coin in our hands, we think first of all not about the metal, but about the story that the coin can tell. And among the many U.S. coins with a bright and unique history, the American Peace dollar takes a special place. The coin became a symbol of new times and hope for peace and prosperity, recovery from the First World War.

The Peace dollar is not only a sign of the end of the war, but also a new period for American numismatics. Its history, exceptional design and high collector value attract numismatists and collectors around the world. So here we would like to explore the history of the coin, unveil the secrets of its popularity and answer the questions: how and why the coin replaced the coin Morgan dollar, how much does the silver dollar weigh, what other Peace dollar dimensions are unique, and is it one of the coins worth money?

A Coin of Hope: The Origin of the Peace Dollar

What is a Peace silver dollar? The issue of the peace silver dollar was a direct result of the end of World War I and the search for new symbols to express hopes for world peace. Its minting began in 1921, when the American government was looking for a way to replace the outdated Morgan dollar, a symbol of power and industry, with something more modern and symbolic.

A competition for a new design to replace 1920 one dollar coin was announced and the winner was sculptor Anthony de Francisci, who proposed an image of a woman with a crown of rays that represented Liberty, but in a softer and more peaceful style.

From Old to New: Reasons for The Shift from Morgan to Peace Dollar

The replacement of the Morgan Dollar with the Peace Dollar can be explained to several reasons:

• Symbolism: After the end of World War I, the world needed new symbols. The old design of Morgan dollars, embodying strength and progress, no longer fit the spirit of the times. Thus, in 1921 there was a need for a new coin that would reflect a new world and a new era.

• Design Update: What does a Morgan silver dollar look like? You know that the Morgan Dollar symbolizes strength and great industrial power, its design was massive and rather clumsy, reflecting the industrial era. However, this design became outdated, so in 1921 there was a need for a new coin that would reflect peace and a new era. So, what does a peace dollar look like and what is the difference? The Peace Dollar embodied new meanings, its design was softer, more refined and inspirational, making it more in tune with the spirit of the times.

• Legislation: The Pittman Act of 1918 allowed for the melt-down of over 270 million Morgan Dollars. The law required some of the coins to be replaced with new ones, thus this opened the way for the creation of a new series of coins.

What's Behind the Peace Dollar: Characteristics and Differences

When it comes to U.S. silver dollars, the Morgan Dollar and Peace Dollar are inevitably mentioned together. The two coins are inseparably linked - one symbolizing industrial might, the other the desire for peace after war. However, despite their connection, they also have some distinguishing features. To better understand the main characteristics of the coins and their differences, please refer to the comparison table.

Main Features of Coins: Peace Dollar vs. Morgan Dollar

Due to the table, you can clearly study and compare the main Peace and Morgan silver dollar dimensions and features. And if you had any doubts about the questions “What is the weight of a silver dollar coin?” or “Are Morgan dollars silver?”, you can easily find the answer above.

Based on the data in the table, we can conclude that the main differences between the coins are still in their symbolism and design.

Circulation, Key Dates and Rare Samples

The Peace silver dollar mintage ran from 1921 to 1928 and from 1934 to 1935. The coin was minted at several mints: Philadelphia (unmarked), Denver (D) and San Francisco (S). Each year of issue has a different mintage, which affects the rarity and value of specific pieces.

Related article: The most popular gold coins.

Key Dates and Rare Peace Dollar Examples

Among the Peace Dollar issues, there are several iconic years that attract the attention of collectors. You may find the detailed explanation below:

1921: 1921 Peace dollar coins were minted in high relief, making them visually impressive but difficult to produce. Are all 1921 peace dollars high relief? Yes, but high relief required extra effort in minting, which led to a rapid switch to lower relief in 1922 and almost all Liberty dollars 1922 were minted in low relief. The Peace Dollar 1921 is consequently one of the most valuable coins in the series (especially if this coin is in good condition).

1928 (Philadelphia): The last year of regular Peace Dollar minting before the Great Depression. With a mintage of only 360,649 coins, the 1928 Philadelphia issue is the rarest of all regular issues in this series. To find this coin in excellent condition is a real achievement for any numismatist.

1929: Some numismatists sometimes wonder what about the 1929 Peace Dollar? After the Peace Dollar ended regular production in 1928, the coins were not minted for several years, including 1929 due to economic turmoil and the onset of the Great Depression. So the notion that 1929 Peace Dollars exist is a myth.

1934 (S): Another significant year in minting. Although Peace Dollar minting resumed in 1934, it is the San Francisco issue (with a mintage of 1,011,000 coins) which is considered rare and highly prized among collectors, especially if the coin is well preserved.

1935: The last year of the Peace Dollar issue, minting was completed, and the coins were no longer issued for circulation, making their last mintage historically significant.

2021: Nearly a century after the first minting, a special series of proof Peace dollars was issued. The modern Peace Dollars 2021 have attracted the attention of collectors because they are marked by the highest quality of minting (in 999 silver) and special attention to detail, which makes them worthy successors of the original Peace Dollars.

Note: For collectors of Peace Dollars and other coins, it is important both to understand the history and be able to properly grade specimens. For Peace Dollar and other coin collectors, we recommend using the Coin ID Scanner app to help identify coins, evaluate and track collection, as well as get additional information on rare pieces.

The Memory of Hope and Change

The Peace Dollar not only ended the era of silver dollars in the United States, but it also became a symbol of hope for a better future, highly relevant to the country after devastating events and hard times. Despite the fact you are interested in history, design, or just want to add this coin to your collection, the Peace Dollar continues to inspire generations of people around the world.

Sources:

1.      https://en.wikipedia.org/wiki/Peace_dollar

2.      https://peacedollars.com/peace-dollar-mintage/