The 1921 Peace Dollar marks the debut of sculptor Anthony de Francisci’s iconic design, which was produced from 1921 to 1928 and briefly revived in 1934 and 1935. This coin was created to commemorate the end of World War I, originally known as The Great War, and has since become a highly sought-after piece among collectors.
The idea of a commemorative coin celebrating the end of the war gained momentum after the armistice on November 11, 1918. Frank Duffield, editor of The Numismatist, was a strong advocate for a circulating “victory coin,” and the proposal eventually reached the House Committee on Coinage. On May 9, 1921, Congressman Albert Henry Vestal, Chairman of the committee, passed legislation authorizing the production of the Peace Dollar.
Anthony de Francisci’s design was selected from a competitive process overseen by the Commission of Fine Arts (CFA). Despite the tight timeline, the coin was approved and struck by the end of 1921.
However, controversy arose over a broken sword included in the original design, which many interpreted as a symbol of defeat rather than peace. The sword was eventually removed, but not without delays and revisions.
The 1921 Peace Dollar is particularly notable as the first in the series and for its high-relief design, which required significant pressure during striking. As a result, the coin’s dies frequently broke, making the 1921 Peace Dollar a rare and highly collectible piece.
Why Is It Called the “Peace Dollar”?
The Peace Dollar was named to celebrate the end of World War I and the hope for a lasting peace. Originally proposed as a half dollar, the coin was eventually minted as a silver dollar. Anthony de Francisci’s design, inspired by his wife Teresa, symbolized a youthful Liberty and a new era of peace.
The reverse originally featured a broken sword, but this was removed after public outcry. Despite mixed reviews at the time, the Peace Dollar has since become one of the most popular coins among collectors.
How Much Is a 1921 Peace Dollar Worth?
The value of a 1921 Peace Dollar varies widely depending on its condition. In circulated grades, it can be worth around $150, while uncirculated examples, especially those in higher grades like MS63, can fetch around $1,000. The most pristine examples can command prices as high as $100,000.
Due to its status as a first-year issue and its unique high-relief design, the 1921 Peace Dollar is a key coin in the series, making it essential for serious collectors.
When purchasing a 1921 Peace Dollar, it’s important to ensure the coin is certified by reputable services like CAC, NGC, or PCGS to avoid counterfeits and ensure authenticity.
Design Details of the 1921 Peace Dollar
Obverse:
The obverse features a left-facing portrait of Miss Liberty wearing a tiara of rays, reminiscent of the Statue of Liberty’s crown. The inscription “LIBERTY” arcs along the upper rim, with the date “1921” positioned below Liberty’s bust.
The motto “IN GOD WE TRVST” appears across the lower portion of the obverse, with the designer’s initials, “AF,” beneath Liberty’s neck.
Reverse:
The reverse showcases an American bald eagle perched on a mountaintop, clutching an olive branch symbolizing peace. The rising sun’s rays in the background align with those in Liberty’s tiara.
The inscriptions “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” appear along the upper rim, while the denomination “ONE DOLLAR” is placed at the bottom. The word “PEACE” is inscribed below the eagle, symbolizing the hope for global harmony.
Edge:
The edge of the 1921 Peace Dollar is reeded.
Designer:
Anthony de Francisci, born in Sicily in 1887, emigrated to the United States in 1905 and became a renowned sculptor. The Peace Dollar is his most famous work, though he also created several significant medals. He passed away in 1964.
Coin Specifications:
| Country: | United States of America |
|---|---|
| Year of Issue: | 1921 |
| Denomination: | One Dollar (USD) |
| Mintmark: | None (Philadelphia Mint) |
| Mintage: | 1,006,473 |
| Alloy: | .900 Silver, .100 Copper |
| Weight: | 26.73 g |
| Diameter: | 38.10 mm |
| Edge: | Reeded |
| OBV Designer: | Anthony de Francisci |
| REV Designer: | Anthony de Francisci |
| Quality: | Business Strike |
Conclusion
The 1921 Peace Dollar is a cornerstone of American numismatics, representing the hope for peace after World War I and showcasing a bold, high-relief design. Its historical significance and aesthetic appeal make it a must-have for serious collectors.
FAQs
Why is the 1921 Peace Dollar significant?
It is the first issue of the Peace Dollar series and was struck in high relief, making it unique among its peers.
How much pressure was needed to strike the 1921 Peace Dollar?
The Mint had to apply 150 tons of pressure to fully capture the details of the high-relief design.
What does the reverse of the 1921 Peace Dollar symbolize?
The reverse features an eagle with an olive branch, symbolizing peace, and a sunrise, representing the dawn of a new era.
How much is a 1921 Peace Dollar worth?
Values range from $150 for circulated examples to $100,000 for the finest known uncirculated coins.
Why was the sword removed from the original design?
The sword was removed after public outcry, as many believed it symbolized defeat rather than disarmament.
Who modeled for the image of Liberty on the Peace Dollar?
Teresa de Francisci, the designer’s wife, served as the model for Miss Liberty, though the image is a composite rather than an exact likeness.
References
- The Numismatist Archives
- American Numismatic Association (ANA) Resources
- Heritage Auctions Records
