Peace Silver Dollar
Until 1921, no new silver [dollars] had been minted in the United States because the 1904 Morgan Dollar. Demand for silver [dollars] was low & there was no need for any extra mintage. The mixture of a piece of legislation known as the Pittman Act & the need for a coin to commemorate World Peace after the end of WWI in 1918 set the stage for the 1921 Peace Silver Greenback to be released.
The Pittman Act known as for 350,000,000 current Morgan [Dollars] to be melted for bullion & for Congress to buy the equal amount of silver from US mines at a set cost of 1 an ounce. This silver was to be used to mint a like variety of new silver [dollars], & the resulting 23 cent distinction per greenback being thought-about a subsidy to the nation’s silver producers.
The Morgan Dollar was minted at all 3 mints in 1921 to the tune of round 86 million coins. At the identical time the brand new Peace Dollar was being designed by Anthony DeFrancisci, a noted designer of medals. His design was decidedly totally different from previous designs in a few notable ways. First, his depiction of LIBERTY faced left instead of proper as she did within the Morgan Dollar & Barber coins of the era, & she wears a crown of rays around her head. His Eagle is at rest with wings folded on the reverse, fairly than in flight as or with wings spread as in earlier coin designs. The Eagle stands on a mound with the word PEACE on it, with rays extending out from the mound. The most distinct difference was the reduction of the coin. Being a designer of medals DeFrancisci used the excessive aid design [that a] medal would bear, one thing not yet tried on a US coin design.
Once the Peace design was ready, mintage of Morgans was suspended & 1,006,473 1921 Peace [Dollars] have been struck at the Philadelphia mint. This was the one 12 months that the coin was not minted at least 1 of the other 2 department mints, making the this 1921 silver dollar the one design not to bear a mint mark. In subsequent years the mint mark would seem on the reverse underneath the Eagle’s tail feathers. The coins have been very detailed because of the high relief, but this additionally made them difficult stack & the design was changed to low relief in 1922 & from then on the coins had a regular low relief.
The combination of its low mintage, unique high reduction design, & first yr of launch makes the 1921 Peace Greenback a really collectible & very fascinating coin. The design was halted after solely seven years in 1928 due to the requirements of the Pittman Act being met. It made a quick reappearance in 1934 & 1935 earlier than being once once more discontinued. It was the last true Silver Dollar design within the United States, with the Eisenhower & Susan B. Anthony [Dollars] being clad with no silver content.
At Valueincoins.com you will learn about regarding 1923 peace silver dollar, silver peace dollars, and 1928 peace dollars.
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