Made to commemorate the peace following World War I, the Peace Silver Dollar was minted from 1921-1928, and 1934-1935 in Philadelphia, Denver, and San Francisco.
The coin is 90 percent silver, 10 percent copper.
Proofs for these coins were only made in 1921 and 1922. In total, only about 25 proofs were made. Mintmarks can be seen under the word “One” on the reverse side.
The design shows a new face of Lady Liberty on the obverse, with a perched Bald Eagle on the reverse. Both designs were executed by Anthony de Francisci in 1921.
Due to the Pittman Act in 1918, over half the silver dollars in the United States, including Morgan Silver Dollars, were melted for bullion. In 1921, the Morgan Silver Dollar returned for one last year and, in the final week of December 1921, the Morgan was replaced with the Peace.
In the first million coins, the relief turned out to be too high and was reduced in 1922. When this was done, however, the aesthetic value of the coin reduced as well.
The Peace Silver Dollar was the last silver coin made in the United States. Four years after production of the peace dollar came to a halt, World War II broke out. Coincidence?