United States 1921 dollar KM-150
This specimen was lot 3398 in Stack's Bowers ANA sale (Costa Mesa, CA, August 2021), where it sold for $7,800. The catalog description noted,
"1921 Peace Silver Dollar. High Relief. MS-66 (PCGS). Uncommonly smooth for an example of this popular first year Peace dollar issue, both sides also possess billowy mint frost. Essentially brilliant, we note only a few speckles of light russet toning along the left borders. The only collectible High Relief issue of this design type, the 1921 is readily obtainable in lower Mint State grades, but is a noteworthy condition rarity with the quality and eye appeal embodied in this upper end Gem."
Silver dollars ceased to circulate in the 1890's, the populace finding paper currency more convenient, but silver mining interests persuaded Congress to force the Treasury to continue minting them. The unneeded coins sat in bags in government vaults and served as backing for silver certificates. Britain, facing a silver shortage in India after World War One, purchased several hundred million to be melted down and made into rupees. Numismatists mounted a campaign to have the melted dollars replaced by a new design celebrating the coming of peace after World War One. This was accepted and the "Peace" dollar was introduced late in 1921 (the dies not being ready, the Morgan dollar was revived and struck in 1921). Large quantities were struck 1922-28 to public indifference. A few more were minted 1934-35 and the series ended. No silver dollars have been struck for circulation since. A few hundred thousand were made in 1964 but the whole run was melted with none being saved. No Peace dollars are rare tho some dates are scarce and true gems are hard to find.
Recorded mintage: 1,006,473, a scarce date, plus millions of the Morgan type.
Specification: 26.73 g, 0.900 fine silver, .773 troy oz ASW, 38.1 mm diameter, reeded edge.
Catalog reference: KM 150.
- Breen, Walter H., Walter Breen's Complete Encyclopedia of U. S. and Colonial Coins, New York: Doubleday, 1987.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- Yeoman, R. S., and Kenneth Bressett (ed.), A Guide Book of United States Coins, 65th Ed., Atlanta, GA: Whitman Publishing, 2011.
- Alexander, David T., Coin World Comprehensive Catalog & Encyclopedia of United States Coins, Sidney, OH: Amos Press, 1995.
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