The 1921 Peace Dollar is a historic coin that stands out in American numismatics. Issued to mark the end of World War I and the restoration of peace, it holds a special place in both history and coin collecting. This guide delves into the background, design, minting details, rarity, and investment potential of the 1921 Peace Dollar.
The Birth of the Peace Dollar
The Peace Dollar was introduced as a symbol of peace following World War I, replacing the Morgan Dollar that had been in circulation since 1878. The concept, proposed by numismatist Farran Zerbe, aimed to celebrate the end of the war and the peace that followed. The U.S. Mint approved the idea, and the first Peace Dollar was minted in 1921.
Design and Features of the 1921 Peace Dollar
The 1921 Peace Dollar is renowned for its striking design:
- Obverse Design: Features Lady Liberty in profile, wearing a radiant crown, designed by Anthony de Francisci. The word “LIBERTY” arches above her head, with the date “1921” below and “IN GOD WE TRUST” to the right.
- Reverse Design: Shows a bald eagle perched on a rock, holding an olive branch. The word “PEACE” is displayed prominently, symbolizing the coin’s purpose. “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” encircle the eagle.
- Composition: Made of 90% silver and 10% copper, weighing 26.73 grams and measuring 38.1 mm in diameter.
- High Relief: The 1921 Peace Dollar was struck in high relief, giving it a detailed and raised design. This high relief made the coin more challenging to produce and led to changes in later years.
Minting Details
Minted at the Philadelphia Mint, 1,006,473 Peace Dollars were produced in 1921. The high relief design made these coins difficult to produce, causing the dies to wear out quickly and resulting in fewer coins being struck compared to later issues.
Coin Specifications
- Year: 1921
- Mint Mark: None
- Mintage: 1,006,473
- Composition: 90% Silver, 10% Copper
- Diameter: 38.1 mm
- Weight: 26.73 grams
Rarity and Collectibility
The 1921 Peace Dollar is considered rare, especially in higher grades. Its high relief design means many coins show wear, making uncirculated examples highly sought after. The coin’s historical significance as the first of the Peace Dollar series further enhances its appeal to collectors.
Grading the 1921 Peace Dollar
Coins are graded on a scale from Poor (P-1) to Perfect Mint State (MS-70). Here’s a general guide to the grading scale:
- Good (G-4): Significant wear but major details visible.
- Very Fine (VF-20): Moderate wear, details clear but slightly flattened.
- Extremely Fine (EF-40): Light wear on high points, most details sharp.
- Uncirculated (MS-60 to MS-65): No signs of wear, full luster, and sharp details. Higher grades indicate fewer marks and a more brilliant appearance.
Market Value of the 1921 Peace Dollar
The value varies based on the coin’s condition. Here’s an approximate value range:
- Good (G-4): $80 – $150
- Very Fine (VF-20): $200 – $400
- Extremely Fine (EF-40): $500 – $1,200
- Uncirculated (MS-60): $1,500 – $3,000
- Uncirculated (MS-65): $7,000 – $20,000
Values fluctuate depending on market demand, the coin’s provenance, and specific characteristics like toning or strike quality.
Investing in the 1921 Peace Dollar
The 1921 Peace Dollar is not only a collector’s item but also a good investment. Its rarity and historical importance make it a strong candidate for long-term value appreciation. When investing:
- Condition: Higher-grade coins generally appreciate more in value. Look for uncirculated examples.
- Authentication: Ensure authenticity and get the coin graded by a reputable service like PCGS or NGC.
- Market Trends: Monitor auction results and market trends for informed buying decisions.
The 1921 Peace Dollar is a remarkable piece of American history and a prized addition to any coin collection. Its unique design, historical significance, and relative rarity make it a valuable collector’s item and a strong investment.
1. Why is the 1921 Peace Dollar so special?
The 1921 Peace Dollar commemorates the end of World War I and features a unique high relief design, making it a significant piece in numismatics.
2. How can I tell if my 1921 Peace Dollar is genuine?
Ensure authenticity by having the coin graded by a reputable service like PCGS or NGC. Look for clear details and compare it to verified images of genuine coins.
3.What affects the value of a 1921 Peace Dollar?
Value is influenced by the coin’s condition, rarity, historical significance, and market demand. Higher-grade coins generally command higher prices.
4. Where was the 1921 Peace Dollar minted?
The 1921 Peace Dollar was minted at the Philadelphia Mint.
5.How many 1921 Peace Dollars were made?
A total of 1,006,473 1921 Peace Dollars were minted.
