Americas Last 90% Silver Dollar - The Peace - Uncirculated
There are a select few coins through the history of the United States Mint with a better story than the fabled Peace Dollar… and it all began with U.S. victory and the signing of the Treaty of Versailles on June 28th, 1919 to mark the official end of the First World War, otherwise known as the ‘Great War.’ As has become commonplace, the United States Mint’s production was largely dictated by what the U.S. government’s needs were during wartime… and in this case, what they needed was a new dollar.
As the U.S. increased its involvement in the war in Europe, the government decided to enact the Pitman Act of 1918… an act which called for the melting of over 350 million silver dollars (mostly Morgan Dollars) to help finance the war effort. In fact, over two-thirds of the silver dollars melted down went to Great Britain to pay for the war. The remaining silver was used by the U.S. Mint to re-release the Morgan again in 1921… but the public demanded something new, something better.
As the Great War came to a close, the Nation needed a new dollar to signify their transition away from the years of bloodshed and violence that had gripped them during the world war. They needed a coin to herald in the new era of peace that was to be ushered in… and that is exactly what they decided to call the coin: The Peace.
The End of the Silver Dollar Era
The massive amounts of silver obtained by the Pittman Act were not to be endless and ran out in the year 1928… just seven years after the new silver Peace Dollars began production in 1921. The United States Stock Market would crash the following year in 1929, sending the Nation into the Great Depression. When you combine this period of economic hardship with the already limited amount of silver left in the United States Treasury by 1928, it was almost inevitable that the Peace Dollar would become the last regular issue 90% silver dollar produced by the United States Mint.
Outside of a limited short run minting in 1934 and 1935 due to special legislation passing, all of the fabled 90% Silver Peace Dollars were minted between 1921 and 1928. This silver dollar’s primary design depicts an eagle at rest clutching an olive branch, with the word 'Peace' below. The obverse shows a modern Lady Liberty with the motto 'In God we Trust', Trust spelled TRVST... the V for victory.
Did you know? The new Peace Dollar would be the first-ever U.S. coin to be issued without congressional sanction or approval.