The Silver Peace dollar is a coin with a fascinatingly rich history. This coin is unique to the United States of America and was birthed after the Great War of 1914 to 1918 and the Vietnam War by Ferran Zerbe. He wanted to create a coin that would honor the memory of the fallen soldiers and civilians who had lost their lives in the Great War.
There are many fascinating things to know about the history of the silver peace dollar as you seek to invest in it. Understanding a currency’s history will help predict its stability and future value. Here are our four top historical facts to know about the silver peace dollar:
It was designed by an Italian immigrant:
The federal commission for finance announced the competition for the design of the coin in November 1921. De Fransisci was the youngest competitor at 34 and also the winner of the competition. He did not hire a model to use the features form due to the short time of the competition and referenced his wife’s features: Teresa de Francisci.
De fransisci does not consider the design his finest work but his wife was delighted to be the face that inspired the lady of liberty drawing on the coin. The crown she wears may also be confused as being synonymous with that of the one in roman coins but it’s more intended at giving correlation to the statue of liberty. The back design would include an eagle and a broken sword.
The public did not like the back design:
The new design was announced on December 19, 1921. The feedback was nothing short of scathing, especially to the design of the eagle and the broken sword. Although it had been intended to be a sign for peace, it instead was perceived as defeat by the masses. People saw it as the United States conceding to defeat in the war.
After the war, it was understandable to see why Americans were still highly sensitive about their national symbols and therefore gave little room for free interpretation of art on their national symbols. People sent a lot of mail to the mint, the treasury, and the fine arts commission rejecting the design and the broken sword had to be removed.
There was a mass production done in 1964 for the coins:
After the initial production was done in the 1920s, there was a shortage afterward after production stopped. Most people had hoarded the coins to the point where the silver bullion was worth more as bullion than as a form of currency. On August 3. 1964, Congress passed legislation that would make provisions for 45milion silver coins. These were to be used in Nevada casinos and other western areas where hard money had more popularity. Some like Mike Mansfield championed the idea because it benefited those in his area while others like C Douglas Dillon opposed it because the circulation would be poor. However, due to public outcry due to the view of negative use of mint resources, the pieces were deemed trial pieces and smelted.
New coins were released in 2021:
Under the directive of President Trump, there was a reopening to producing the Morgan and the Silver Peace Dollar. This was done as a way of marking the centennial transition between these two designs. The peace dollars have been available from August 10, 2021. The production of the peace dollar will now be made as an annual product.
The silver peace coin certainly has a rich history to it and if history repeats or rhymes with itself, then we can confidently say that the valuable coin is a worthy investment to make. As the government continues to make efforts towards stabilizing the bullion and making more productions, this is surely the time to invest in silver coins.