The 1921 Peace Dollar is a historic and highly sought-after coin in the world of numismatics. It was introduced as a symbol of peace after World War I, replacing the Morgan Dollar.
This guide will delve into its history, design, minting details, market value, and why it’s such a prized piece for collectors.
The Birth of the Peace Dollar
The Peace Dollar was created to celebrate the end of World War I and symbolize peace. Proposed by numismatist Farran Zerbe,
it aimed to honor the victory and restore a sense of tranquility. The U.S. Mint agreed with the concept, and the first Peace Dollar was produced in 1921.
Design and Features of the 1921 Peace Dollar
The 1921 Peace Dollar features a unique and symbolic design:
- Obverse Design: The front side shows Lady Liberty with a radiant crown, designed by Anthony de Francisci. “LIBERTY” is written above her head, with the year “1921” below and “IN GOD WE TRUST” to the right.
- Reverse Design: The back side shows a bald eagle perched on a rock, holding an olive branch, with “PEACE” displayed prominently. The inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” surround the eagle.
- Composition: Made of 90% silver and 10% copper, the coin weighs 26.73 grams and has a diameter of 38.1 mm.
- High Relief: The 1921 Peace Dollar is notable for its high relief design, which gave it more depth but also made it harder to produce. This led to changes in the design in later years.
Minting Details
The 1921 Peace Dollar was minted at the Philadelphia Mint. A total of 1,006,473 coins were produced. Due to its high relief, the production process was challenging, causing the dies to wear out quickly and resulting in fewer coins being minted compared to later years.
Rarity and Collectibility
The 1921 Peace Dollar is considered rare, especially in higher grades. Its high relief design often shows signs of wear, making uncirculated examples highly desirable.
The coin’s significance as the first of the Peace Dollar series adds to its 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 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, though 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 varies based 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 depending on market demand and the coin’s specific characteristics.
Investing in the 1921 Peace Dollar
The 1921 Peace Dollar is not just a collectible item but also a potential investment. Its rarity, historical significance, and demand make it a good candidate for long-term value appreciation. When investing, consider:
- Condition: Higher-grade coins are more likely to increase in value.
- Authentication: Ensure the coin is authentic and graded by a reputable service like PCGS or NGC.
- Market Trends: Watch auction results and market trends to make informed decisions.
What is the 1921 Peace Dollar?
It’s a U.S. silver dollar minted to commemorate the end of World War I and symbolize peace.
Why is the 1921 Peace Dollar important?
It was the first Peace Dollar and features a unique high relief design that makes it a significant collectible.
How can I tell if my Peace Dollar is genuine?
Check for authentication from reputable grading services like PCGS or NGC.
What affects the value of a 1921 Peace Dollar?
The coin’s condition, rarity, and market demand influence its value.
Where was the 1921 Peace Dollar minted?
It was minted at the Philadelphia Mint.
