June 2026 – 1921 Peace Dollar
The Peace Dollar is one of America’s most beautiful and historically significant silver coins. First issued in December 1921, it was created to commemorate the end of World War I and to symbolize the hope for lasting peace after one of history’s deadliest conflicts.
Congress had not specifically authorized a new design, but a growing movement among numismatists encouraged the U.S. Mint to replace the long-running Morgan Dollar with a coin that celebrated peace. The winning design was created by Italian-American sculptor Anthony de Francisci, whose youthful image of Liberty was reportedly inspired by his wife, Teresa.
The 1921 Peace Dollar is especially prized because it was struck in high relief, giving Liberty’s portrait and the eagle on the reverse remarkable depth and detail. While visually stunning, the high-relief design proved difficult for the Mint to produce efficiently. As a result, beginning in 1922 the design was modified to a lower relief, making the 1921 issue unique within the series.
The obverse features Liberty wearing a radiant crown reminiscent of the Statue of Liberty, while the reverse depicts a bald eagle peacefully perched on a rock, clutching an olive branch. Beneath the eagle appears the single word PEACE, making it the first regular-issue United States coin to display that word so prominently.
Approximately 1,006,473 Peace Dollars were minted in 1921 at the Philadelphia Mint. Although this is not an extremely low mintage, collector demand is strong because it is the only high-relief issue and the first year of the series. Well-preserved examples often command substantial premiums, and gems with original mint luster are especially desirable.
More than a century after its introduction, the 1921 Peace Dollar remains a favorite among collectors. Its elegant design, historical significance, and unique high-relief striking make it an outstanding centerpiece for any U.S. silver dollar collection.
Did You Know?
The Peace Dollar was the last circulating U.S. dollar coin struck for commerce that contained 90% silver. Production continued through 1935, ending an era of classic American silver dollar coinage that began in the late 1700s.
