The Origin of Peace Silver Dollar Coins

If you are either an amateur or professional coinsignificance of the cessation of World War I. Eight
collector, you will no doubt be familiar withfamous sculptors of the time were invited by the
collecting Peace Silver Dollar coins which hold aUS Commission on Fine Arts in late 1921 for a
high value in price amongst professional collectors.design competition on the new silver dollar. The
To understand the true importance of these coinsdesign of Antony de Francisci, a sculptor with
beyond their monetary value, we should firstItalian ancestry, eventually won the competition
discuss their origin in American history.and approved by US President Harding.
Peace Silver Dollars hold a special place in theThe Peace Silver Dollars started minting on
hearts and minds of all serious numismatists andDecember 1921 and circulation started January
coin collectors for the creation of these coins was1922. Slight modifications had to be made after
inspired by hobbyists from their own ranks. Theover 1 million dollar coins were already struck. The
issuance of these silver dollars was the brainchildcoin's relief was too high; attractive, yes, as the
of an article in The Numismatist, the publication ofengraved features stuck out, but the dollars were
the American Numismatic Association (ANA),unwieldy to stack. With the relief lowered, 84
which proposed in the magazine's November 1918million dollars were minted in 1922, the highest in
issue that a special coin be minted toits series. The Pittman Act's quota for
commemorate the then imminent ending of Worldreplacement dollars was met in 1928, and with the
War I. This commemorative coin proposal was tolack of public demand for Peace Dollars, its minting
have been presented in ANA's 1918 summerstopped that year. Six years later, minting of the
convention, but a flu pandemic caused thePeace Silver Dollars resumed for a period of two
meeting's cancellation.years (1934-1935) to provide the US government
It was at the August 1920 ANA convention inadded security backing for issued Silver
Chicago that the proposed coin issuance wasCertificates.
finally presented, calling for US TreasuryAfter a long hiatus, President Johnson in 1964
authorities to mint either a half-dollar or a dollarordered minting of new Peace Silver Dollars but
commemorative piece. The ANA proponentsdue to Congress passing the Coinage Act of
found some powerful backers in Washington,1965, the production of this new series was
allowing the mintage not only just for acanceled. Although some of these silver coins
commemorative coin, but a one silver dollar issuewere already struck, the government ordered
for general circulation. It also helped that the USthem to be melted down so no coins from this
Treasury then was empowered by the 1918production exist today. Historically, the peace
Pittman Act to convert up to 350 million silversilver dollars celebrate more than the victory of
dollars into bullion either for sale or for mintingthe Allies in World War I. These coins have a
replacement dollars.value as proud showcase of the democratic ideals
The dollar size very well fits the ANA proposalof liberty, honor and prosperity. The hope of a
which called for a coin that would have as muchnew era is eloquently manifested in the coin's
space as possible for the interpretation of theproud eagle atop a slope facing toward a sunrise.