The 1921 Silver Dollar holds significance as the last year of regular issue for the Morgan Silver Dollar series. After the passage of the Pittman Act in 1918, which authorized the melting and recoinage of silver dollars, the Morgan Silver Dollar production resumed in 1921 for a brief period before being replaced later in the year.
The United States saw an economic boom following the end of World War I and 90% silver coins were the bedrock of the economy.
The US Mint responded to shortages by restarting the production of the Morgan $1 Silver Dollar in March of that year, turning out 86,730,000 coins across three mint facilities:
- Philadelphia (no mintmark) produced the highest number of 1921 Morgan Silver Dollar coins, roughly 44,690,000 with no mint mark.
- Denver (D mintmark) minted roughly 20,345,000 1921-D coins.
- San Francisco (S mintmark) minted 21,695,000 1921-S silver coins
At the same time, many politicians felt it would be a suitable time to change the design of the coins to have a more contemporary feel.
The Commission of Fine Arts petitioned an invitation-only competition in 1920 to find a suitable design to symbolize peace after the end of World War I.
The competition invited several prominent sculptors to submit designs for the new silver dollar coin. Among the participants were Anthony de Francisci, Hermon MacNeil, and Adolph A. Weinman. Each artist presented their proposed designs, which were reviewed by a panel of judges. Ultimately, the design created by Anthony de Francisci was selected as the winning design as the Peace Dollar silver coin.
Anthony de Francisci’s design featured a portrait of Lady Liberty wearing a radiant crown on the obverse side of the coin, with the word “LIBERTY” inscribed. The reverse side showcased a perched bald eagle resting on a rock, clutching an olive branch, symbolizing peace. The inscriptions “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “IN GOD WE TRUST” were also included on the coin.
The 1921 Peace Silver Dollar holds historical significance as the first year of issue for the series. However, it had a very limited mintage compared to the Morgan Silver Dollar, making it relatively scarcer and often more sought after by collectors. The Peace Silver Dollar series was produced from 1921 to 1935, with additional issues in 1964 and 1965.
The coin was only issued in a high-relief format, similar to a proof. In total, just 1,006,473 1921 Peace Silver Dollar coins were minted at the Philadelphia Mint, making it a single mint issue.
It’s worth noting that the availability and desirability of specific mintmarks can vary among collectors, and some command very high numismatic premiums due to their relative scarcity or historical significance.
With more than 80 million coins struck, it is very common to find 1921 Morgan Dollars in Brilliant Uncirculated that condition. Coins in finer condition and graded specimens tend to see higher increases in numismatic premiums over time.
Silver dollar coins often hold greater collector appeal compared to smaller denominations. Their larger size, historical context, and unique designs make them attractive to coin collectors and many build comprehensive collections spanning all mintage years and mintmarks. This collector demand influences the market value and potential appreciation of silver dollar coins over time with numismatic premiums.
