Peace Silver Dollars: An Overview
The Silver Peace Dollar is a numismatic classic. Struck from 1921 through 1928 and again from 1934 through 1935, each coin contains .7734 oz. of silver struck on a 90% pure or “coin silver” planchet.
Two separate things caused the Peace Dollar to come into being: The Pittman Act and a popular citizen movement--and subsequent design contest--to come up with a “Peace Coin” to mark the end of the First World War. Following the end of the “great world” many citizens were excited to celebrate and promote the global desire of peace following years of turmoil.
The Pittman Act was legislation that required the U.S. Government to buy large amounts of silver from mining interests in the Western states. The resulting silver was largely struck into Morgan Silver Dollars. Vast numbers of Morgan Silver Dollars sat unused in U.S. Treasury vaults. After WWI, these Morgans were melted, and the silver was forwarded to England. The United States Mint then struck newly purchased silver into Peace Dollars which were used to replenish the U.S. Treasury vaults.