1921 Peace Dollar
The 1921 Peace Dollar was the first year of issue for the new series of silver dollars. This also represented the only issue that was struck in high relief. Slightly more than one million coins were produced at the Philadelphia Mint during the period from December 28 to December 31, 1921. The coins would be released into circulation early in the following year.
In production, the high relief made the coin difficult to strike and caused excessive die breakage. The Mint adjusted procedures and began to strike the coins at lower pressure, which preserved the dies and allowed them to be used longer. Although the production problems were solved, this adjustment resulted in the most 1921 Peace Dollars being weakly struck. The vast majority of coins encountered will exhibit a lack of detail at the centers, apparent at the hair near Liberty’s ear and the feathers on the eagle’s chest.
Despite having one of the lower mintages of the series, the 1921 Peace Dollar remains readily available in grades up to MS64. A large portion of the original mintage was held in government vaults, and many others were saved by the public since it was the first year for the new design and a high relief coin.
Collectors seeking to add this coin to their collection might want to exercise patience and wait for a fully struck example to come along. Although these pieces are in the distinct minority and clearly much more beautiful, they often sell without a premium to average or weakly struck examples.
1921 Peace Dollar Mintage and Specifications
Mintage: 1,006,473
Designer: Anthony de Francisci
Composition: 90% silver, 10% copper
Weight: 26.73 grams
Diameter: 38.1 mm
Edge: reeded
