The peace dollar: A controversial collector's favorite
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The world of coin collecting is vast and varied, with countless pieces of history to explore. One such piece that often piques the interest of collectors is the Peace Dollar. This emblematic coin, steeped in historical significance, offers a fascinating glimpse into the past.
The peace dollar controversy
Produced from 1921 to 1928 and again in 1934 and 1935, the United States Peace Dollar coin has a storied past involving controversy, politics, and public perception. After World War I, numismatists – the official term for coin collectors and experts – campaigned to convince the U.S. Mint to strike a coin symbolizing peace. Congress initially said no, but it was eventually approved by Treasury Secretary Andrew Mellon.
Designer Anthony de Francisci’s proposed emblem beat out other designs representing peace. But controversy struck again when public reaction was overwhelmingly negative. It seems the original design had a broken arrow, which people perceived to portray defeat, not victory or peace. So, the U.S. Mint quickly redesigned the Peace Dollar, removing the arrow. The amended design features Lady Liberty on the front (obverse) and an eagle clutching an olive branch on the reverse.
The historical significance of the peace dollar
The Peace Dollar holds a unique position in U.S. coinage as it was created to commemorate the end of World War I and to symbolize the country's hopes for lasting peace. Its release was met with much fanfare, and it continues to be a cherished piece among collectors.
Speaking of the Peace Dollar controversy, it hit again in 1965 when the Mint struck hundreds of thousands of new coins labeled 1964. It was never issued and the batch is believed to have been melted down.
The Peace Dollar made a triumphant return in 2021 with a silver bullion version commissioned to celebrate its 100th anniversary.
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Investing in peace dollars
For parents looking to introduce their teens to coin collecting, the Peace Dollar can be an excellent starting point. Not only does it provide a tangible connection to history, but it also offers an opportunity to learn about the nuances of coin grading and valuation.
Where do you find peace dollars?
You can try searching online coin shops or local coin shows. Be sure to research prices and compare different dealers before making a purchase. Alternatively, check with your bank to see if they have any in stock.
Tips for collecting peace dollars
Look for high-quality coins: A well-preserved Peace Dollar is more valuable and sought after by collectors.
Consider the year: Some years of production have more limited mintages, making them rarer and potentially more valuable.
Look out for mint marks: Different branches of the U.S. Mint strike different versions of coins. A coin minted in San Francisco, for example, usually bears an “S” series mark. Different mintings have different values. 2021 Peace Dollars minted by The Philadelphia Mint bear no mint marks. Others minted in San Francisco and Denver bear their respective S and D marks.
Stay organized: Keep track of your collection by using a coin album or spreadsheet to monitor the coins you own and their condition.
Be patient: It takes time, effort, and patience to build an impressive collection. Don't rush into buying every Peace Dollar you come across, and take the time to research each purchase.
FAQs about the peace dollar
Q: What is a peace dollar?
A: The Peace Dollar is a U.S. dollar coin that was minted in the early 20th century to commemorate the end of World War I.
Q: When were peace dollars minted?
A: Peace Dollars were minted from 1921 to 1928 and again in 1934 and 1935. The 100th-anniversary coins began minting in 2021.
Q: Who designed the peace dollar?
A: The Peace Dollar was designed by Anthony de Francisci.
Q: What is the peace dollar made of?
A: 2021 commemorative versions of the Peace Dollar are made of 99.9% silver.
Q: How much is a peace dollar worth?
A: The value of a Peace Dollar can vary greatly depending on its condition, mint mark, and rarity. Some can be worth hundreds or even thousands of dollars.
Q: Are peace dollars a good investment?
A: Peace Dollars can be a good investment for those interested in numismatics (coin collecting) as they hold both historical and monetary value.
Q: How can I tell if a peace dollar is authentic?
A: Authenticating a Peace Dollar involves examining its weight, size, design details, and edge reeding. It's often best to seek professional advice for authentication.
Q: Where can I buy peace dollars?
A: Peace Dollars can be purchased from coin dealers, auctions, online marketplaces, and sometimes directly from the U.S. Mint.
Q: What is the most valuable peace dollar?
A: The 1928 Peace Dollar from the Philadelphia Mint is considered one of the most valuable due to its low mintage.
Q: How many types of peace dollars are there?
A: There are numerous types of Peace Dollars, differentiated by their year of mintage and the specific mint where they were produced.
Q: How can I care for my peace dollar?
A: To care for your Peace Dollar, handle it as little as possible, store it in a cool and dry place, and consider using protective coin holders.
Q: Can I use a peace dollar as legal tender?
A: While Peace Dollars are legal tender, their collector value often far exceeds their face value.
The Peace Dollar is more than just a coin; it's a symbol of hope, a piece of history, and a collector's favorite. It offers an exciting adventure into the world of coin collecting for parents and teens alike.
Find more fun facts and smart-money advice, visit Greenlight Learning Center for helpful resources on family and finance.
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