Take advantage of low silver prices to obtain Historic Peace Silver Dollars at Bargain Prices
History of the Peace Silver Dollar
Peace dollars were minted from 1921-1928 and from 1934-35. Its predecessor, the Morgan Silver Dollar was minted from 1878-1921. The minting of Peace dollars was done pursuant to the Pittman Act of 1918 that required, among other things, that over 270 million Morgan dollars be destroyed and melted down with the silver bullion then sent England to assist Great Britain’s ongoing silver shortage. The Pittman Act authorized the reminting of silver dollars to replace those that were melted down. In 1921, the United States Mint recommenced production of the Morgan dollar that had not been minted since 1904. Later in 1921, the U.S. Mint ceased production of the Morgan dollars and began producing Peace dollars.
Peace dollars were named in hope shortly after World War I. Italian born Anthony de Francisci fashioned the front design based on his wife’s features and inspired by the Statute of Liberty he had seen when arriving in America as an immigrant. His monogram can be found under the neck of the female liberty head.
With the price of silver hovering around two year lows, now is the time to look into acquiring historic Peace Silver Dollars at prices not seen for years.
About the Peace Dollar
Peace silver dollars were minted at United States Mint locations in Philadelphia (no mint mark), Denver (D) and San Francisco (S). The mint mark appears to the left of the bald eagles’ directly below the word “one”. The Carson City (CC) and New Orleans (O) mints that had produced Morgan silver dollars were closed in 1893 and 1909, respectively.
Peace silver dollars are 90% silver, weigh 26.73 grams and contain .77344 ounces of pure silver.
The Peace silver dollar obverse features a crowned female head with the word “Liberty” written across the top half of the coin. “In God We Trust” and the date also appear on the front of the coin.
The reverse features a bald eagle perched upon the crest of a mountain with the word “peace” written in to the side of the crest. The words “e pluribus unum” (out of one many) “one dollar” and United States of America are also engraved on the back along with the date.
Give the gift of Peace!
Peace silver dollars range from the common “cull dollars” to uncirculated ones. For novice coin collectors, cull Peace dollars provide a great introduction to the coin. Peace dollar culls are heavily circulated or have other imperfections but are generally in good enough condition to make out all of the coins’ features, including date, mint marks and inscriptions.
Even though Peace silver dollars are nearly a century old, there still exist many in uncirculated or mint state (MS) that can be purchased for a modest amount. Graded Peace silver dollars can thus be prized for their numismatic value as well as their silver content.
Mint state coins are most commonly graded by either NGC or the Numismatic Guarantee Company or PCGS or the Professional Coin Grading Service. These coin grading services use a 70 point system with 70 points representing a flawless uncirculated coin.
The most common mint state Peace dollars available are in the MS 63-64 range. These coin have at least average luster, so they appear new, but will have small contact marks that were most likely the product of banging up against other Peace dollars in the bags in which they were stored. Graded coins come in sonically sealed plastic containers with the name of the grading company fixed in a hologram inside the packaging to ensure authenticity.
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.