The 90% Silver Dollar That Marked the End of an Era! The Final Uncirculated Philadelphia Peace Dollar: the 1935 issue!
The Peace Dollar was the final silver dollar ever produced by the United States Mint that was meant for everyday circulation. This iconic Silver Dollar was minted from 1921 to 1928 and was brought back for one more run in 1934 and 1935.
This 1935 uncirculated silver dollar is special not only because of its status as the last of its kind, but because it has one of the truly unique stories in all of coin collecting: it was created completely without congressional approval!
No Congressional Approval? No Problem for this Silver Dollar!
The Peace Dollar was issued without congressional approval under the terms of the Pittman Act of 1918. The act referred to a bullion dollar being created, but did not specify the design. Coin collectors lobbied the Mint to issue a coin that memorialized the peace following World War I. Congress would not pass a bill requiring a design change (the Morgan was the last released), but they were able to persuade government officials to take action.
The original design of the Peace Dollar was in high relief. The images of Liberty and Majestic Eagle were created higher than traditional coins, but after only a month the design was reworked. The coins wouldn't stack properly, creating an issue for merchants across the country. The design incorporated the word "In God We Trust" like all U.S. coins...but the word "Trust" was spelled "Trvst" - the letter V for victory in WWI.
Circulating Silver Dollars come to an end!
The Peace Dollar was rushed into production in the closing weeks of 1921 to commemorate the end of World War I (then commonly referred to as the "Great War".) The design features a proud presentation of Lady Liberty donning a crown of light with a perched American Bald Eagle watching a sunrise on the reverse. In a sign of remembrance, designer Anthony di Francisci emblazoned the gorgeous design with the phrase "Peace." While extremely popular in their initial release, the later dated Peace Dollars failed to see much circulation and as a result minting was subsequently ended in 1935.
This became significant with the passing of legislation to create the Eisenhower Dollar in 1971 - the first-ever U.S. dollar struck in "clad" - a mixture of copper and nickel. The 1935 Peace Dollar became the last ever circulated silver dollar the United States Mint would ever produce, making it a collector's dream!
While at the Houston Money Show earlier this month, we came across a few sealed rolls of these stunning final year of issue silver dollars while inspecting a collection --- and they all were in incredible Uncirculated condition more than 85 years later!
