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The US Mint halted the production of the Morgan Dollar in 1904 after Congress repealed of the Sherman Silver Purchase Act in 1898.
Due to the Pitman Act, the Morgan dollar was once 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 be releasing Centennial Commemorative coins featuring the designs of these iconic silver dollar coins this year.
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 dollars will weigh 26.73 grams with a diameter of 1.500 inches. The coins will be minted from no less than 90% silver with 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 that was signed into law.
The bill does state that the coins must be sold at a price equal to the sum of 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 that are on the Mint’s list of Authorized Purchasers.
The final designs of the coins will be selected by the Secretary of Treasury 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.