The 1921 Peace Dollar is a fascinating and important coin for collectors and history lovers alike. Introduced as a symbol of peace after World War I, it replaced the popular Morgan Dollar. In this guide, we’ll explore its history, design, minting details, market value, and why collectors prize this coin.
The Birth of the Peace Dollar
The Peace Dollar was created to celebrate the end of World War I and to symbolize peace. Proposed by a numismatist named Farran Zerbe, this coin aimed to honor the victory and restore a sense of tranquility. The U.S. Mint agreed with this idea, and the first Peace Dollar was produced in 1921.
Design and Features of the 1921 Peace Dollar
The 1921 Peace Dollar has a unique design that many find beautiful:
Obverse Design
The front side features Lady Liberty wearing a radiant crown. The design was created by Anthony de Francisci. Above her head is the word “LIBERTY,” with the year “1921” below and “IN GOD WE TRUST” to the right.
Reverse Design
On the back side, you’ll see a bald eagle perched on a rock, holding an olive branch, representing peace. The word “PEACE” is prominently displayed, with “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” surrounding the eagle.
Composition
The coin is made of 90% silver and 10% copper. It weighs 26.73 grams and has a diameter of 38.1 mm.
High Relief
A notable feature of the 1921 Peace Dollar is its high relief design, which gives the coin more depth. However, this made it harder to produce, leading to changes in later years.
Minting Details
The 1921 Peace Dollar was minted at the Philadelphia Mint. A total of 1,006,473 coins were produced. Because of the high relief, the production process was challenging. The dies wore out quickly, which meant fewer coins were minted compared to later versions.
Rarity and Collectibility
The 1921 Peace Dollar is considered rare, especially in higher grades. Its high relief design often shows wear, making uncirculated examples highly sought after. Additionally, being the first of the Peace Dollar series adds to its appeal and value among collectors.
Grading the 1921 Peace Dollar
Coins are graded on a scale from Poor (P-1) to Perfect Mint State (MS-70). Here’s what the different grades mean for the 1921 Peace Dollar:
- Good (G-4): Significant wear, but major details are still visible.
- Very Fine (VF-20): Moderate wear with clear details, slightly flattened.
- Extremely Fine (EF-40): Light wear on high points, with most details sharp.
- Uncirculated (MS-60 to MS-65): No wear, full luster, and sharp details. Higher grades are rarer and more valuable.
Market Value of the 1921 Peace Dollar
The value of a 1921 Peace Dollar depends on its condition:
- 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
These values can change based on market demand and the coin’s specific characteristics.
Investing in the 1921 Peace Dollar
The 1921 Peace Dollar is not just a collectible; it can also be a good investment. Its rarity and historical significance make it valuable over time. If you’re considering investing, think about:
- Condition: Higher-grade coins are more likely to increase in value.
- Authentication: Ensure the coin is real and graded by a reputable service like PCGS or NGC.
- Market Trends: Keep an eye on auction results and market trends to make smart decisions.
The 1921 Peace Dollar is more than just a coin; it tells a story of hope and peace after a difficult time in history. With its unique design, historical significance, and rarity, it remains a prized possession
for collectors and investors alike. Whether you’re a seasoned collector or just starting, understanding this coin can enhance your appreciation for numismatics.
1. What is the 1921 Peace Dollar?
The 1921 Peace Dollar is a silver coin minted to celebrate peace after World War I.
2. Why is it called the Peace Dollar?
It symbolizes peace and was created after the end of World War I to honor the victory.
3. How can I tell if my Peace Dollar is authentic?
Check for official grading by services like PCGS or NGC, and look for specific design features.
4. What factors affect the value of the Peace Dollar?
Its condition, rarity, and market demand influence its value.
5. Can I invest in Peace Dollars?
Yes, they can be a good investment due to their historical significance and rarity.
