By Charles Morgan and Hubert Walker for CoinWeek Notes …..
A New Dollar for a New Era of Peace
The Peace Dollar was introduced following World War I to celebrate victory and commemorate peace. Farran Zerbe, a former American Numismatic Association president, advocated for the coin to be issued in honor of the end of the war. The coin was made possible by the Pittman Act of 1918, which provided the silver needed for its production.
Insight: The Pittman Act was enacted to help Great Britain during the war and is now remembered for its role in shaping numismatic history by facilitating the creation of the Peace Dollar.
A Lower Relief Peace Dollar Emerges
Initially struck in high relief, the Peace Dollar faced issues with striking and die life. As a result, the relief was lowered in 1922, leading to a change in the coin’s production process. Although some high-relief coins were melted down, a few Proof versions survived, adding to the rarity of those particular coins.
Insight: The lower relief design made the Peace Dollar more practical for production and helped ensure the coin’s longevity in circulation.
The Peace Dollar Almost Returned in 1965
In an intriguing turn of events, Congress authorized the production of Peace Dollars in 1964 as part of a program created by Senator Mike Mansfield. The Denver Mint struck over 316,076 trial coins, but ultimately, the project was canceled due to objections and rising silver prices. Subsequently, all 1964-D Peace Dollars were melted down, with rumors persisting that at least one example remains hidden.
Insight: The mysterious allure of the 1964-D Peace Dollar continues to capture the interest of collectors and enthusiasts alike, perpetuating its legendary status in numismatic lore.
The Peace Dollar Returned (Kind of) in 2021
To commemorate the centennial of the 1921 Morgan and Peace Dollars, modern versions of these iconic coins were produced in 2021. However, unlike the original issues, the modern coins are struck in .999% silver, making them numismatic tribute coins rather than accurate replicas of the historical Peace Dollars.
Insight: The 2021 commemorative coins highlight the enduring legacy of the Peace Dollar and its significance in numismatic history, bridging the past with the present for collectors to appreciate.
Are Peace Dollars Collectible? What Are They Worth (Generally Speaking)?
Peace Dollars are highly sought after by collectors, with their value closely tied to the current silver spot price and their condition. Scarcer dates command significant premiums, with rare varieties such as the 1922 High Relief Matte Proof having a value of over $400,000.
Insight: The rarity and historical significance of certain Peace Dollar varieties contribute to their desirability among collectors, driving up their market value significantly.
Varieties
The Peace Dollar series encompasses a variety of die varieties, categorized as VAMs after the specialists Leroy Van Allen and A. George Mallis. Some varieties are more pronounced and easily identifiable, while others require a deeper understanding of the series for recognition.
Insight: Collectors who specialize in Peace Dollars may find joy in exploring the different die varieties, adding depth and complexity to their numismatic pursuits.
In-Depth Peace Dollar Date Analysis by CoinWeek
CoinWeek offers an in-depth analysis of each Peace Dollar in the series, examining the correlation between mintage figures and prices in MS63 condition. This comprehensive analysis provides collectors with valuable insights into the market dynamics of Peace Dollars.
Insight: Understanding the relationship between mintage figures and market prices can help collectors make informed decisions when acquiring Peace Dollars for their collections.
Additional Peace Dollar Coverage on CoinWeek
CoinWeek’s extensive coverage of Peace Dollars includes informative videos, market analyses, and grading insights from industry experts. Whether you’re a beginner or an experienced collector, CoinWeek’s comprehensive resources on Peace Dollars offer valuable information for enhancing your numismatic knowledge.
Insight: CoinWeek’s commitment to providing detailed and authoritative content on Peace Dollars underscores its role as a premier source of numismatic information for collectors and enthusiasts worldwide.