This year marks the 100th anniversary of the switchover from the Morgan Dollar to the Peace Dollar in 1921.
Public Law 116-286, the 1921 Silver Dollar Coin Anniversary Act, was approved by Congress on December 19, 2020, and signed into law by the President on January 5, 2021.
The US Mint halted the production of the Morgan Dollar in 1904 after Congress repealed the Sherman Silver Purchase Act in 1898.
Due to the Pitman Act, the Morgan dollar was again minted in 1921. However, the Pitman Act called for a new design of the US Dollar Coin. The Peace Dollar design was chosen because it represented a shift in US culture post World War I from a nation at war to a nation at peace.
To commemorate the switchover, the US Mint will release Centennial Commemorative coins this year featuring the designs of these iconic silver dollar coins.
The Morgan Dollar, designed by George Morgan, was produced from 1878 until 1904, then again in 1921.
The Peace Dollar, designed by Anthony de Francisci, was produced from 1921 until 1935.
1921 Silver Dollar Coin Anniversary Act
The law specifies that the centennial dollar will weigh 26.73 grams and have a diameter of 1.500 inches. The coins will be minted from at least 90% silver and have a reeded edge.
The design requirements specify that the commemorative silver dollar coins will have an obverse design and a reverse design that are renditions of the designs historically used on the obverse and reverse of the original coins. Mintage amounts or limits are excluded from the bill signed into law.
The bill states that the coins must be sold at a price equal to their face value and the cost of designing and issuing the coins, including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping. Discounts will be available for bulk purchases, likely companies on the Mint’s list of Authorized Purchasers.
The Secretary of Treasury will select the final designs of the coins, with input from the Commission on Fine Arts and review by the Citizens Coinage Advisory Committee.
No official release dates for the coins have been specified yet.