Peace Dollar

The Peace Dollar is a United States one-dollar coin struck in 90% silver. Its obverse shows the head of Liberty in profile, facing left, wearing a spiked radiant crown, with LIBERTY above and the date below. The reverse depicts a bald eagle perched on a rock, clutching an olive branch, gazing toward a rising sun, with the word PEACE inscribed on the rock below the eagle.

The photographed coin is dated 1921, the very first year of the series. First-year 1921 pieces were struck in high relief, giving Liberty's portrait a noticeably deeper, more sculptural appearance than later dates. The coin measures about 38.1 mm in diameter, weighs roughly 26.73 grams, and has a reeded edge, containing about 0.7734 troy ounce of pure silver.

The Peace Dollar was created to commemorate the peace that followed the end of World War I. Numismatists and Congress backed a new dollar to mark the era, and a design competition was won by Anthony de Francisci, a young Italian-American sculptor. He modeled Liberty in part on his wife, Teresa, and gave her the radiant crown as a symbol reminiscent of liberty and light.

Production began in late December 1921, and the first coins were struck in high relief. The Mint found the deep relief impractical for mass production, so the design was flattened to a lower relief beginning in 1922. The series continued through 1928, paused, then resumed for 1934 and 1935 before ending. Decades later, in 2021, the U.S. Mint issued a modern commemorative revival, but the classic circulating series ended in 1935.

Peace Dollars were struck at Philadelphia (no mint mark), Denver (D), and San Francisco (S). The 1921 issue, however, was produced only at Philadelphia and therefore carries no mint mark.

Identify the type by its two designs. The obverse Liberty head faces left and wears a distinctive spiked radiant crown, unlike the Morgan Dollar's coroneted, tiara-style Liberty that preceded it. The reverse shows a single eagle at rest, perched on a rock and holding an olive branch, with PEACE spelled out below — a motif unique to this series and different from the standing, wings-spread eagle on the Morgan Dollar reverse.

Size and metal are diagnostic: at about 38.1 mm and 26.73 grams in 90% silver, the Peace Dollar is a large, heavy coin with a bright silver ring and a reeded edge. On this 1921 first-year coin, the high relief makes Liberty's profile stand out with unusual depth, and the date reads 1921 beneath the portrait.

The mint mark, when present, appears on the reverse in the field below the word ONE, to the left of the eagle's wing tip near the tail. Because 1921 coins were all struck at Philadelphia, a genuine 1921 Peace Dollar bears no mint mark.

Every Peace Dollar contains roughly 0.7734 troy ounce of pure silver, so even a well-worn coin is worth a substantial multiple of its face value as bullion, tracking the silver market. Common later dates in circulated grades generally trade near their silver melt value plus a modest premium.

The 1921 high-relief first-year issue is a distinct and sought-after date, and it typically commands a premium over common dates because of its lower mintage and single-year high-relief design. Condition matters greatly: high-relief 1921 coins are often weakly struck at the center, and sharply struck, high-grade examples bring the strongest prices.

Values move with the silver market, grade, strike quality, and eye appeal, so consult a current price guide or dealer rather than relying on a fixed figure. For higher-value pieces, third-party certification is the safest way to confirm date, grade, and authenticity.