Collectors may wonder why they should bother to assemble a collection of Peace silver dollars when Morgan dollars, which are older and more available, generally get all the numismatic attention.
These “little sister” Peace silver dollars have appeal of their own and are a wonderful series to acquire. Here’s seven good reasons to collect these beautiful coins.
1. Peace dollars have the same silver content as Morgans. Both coins are a big 1 1/2 inches in diameter and contain .77344 ounces of pure 90% silver. Collectors love silver and these dollars are beautiful, historic and precious.
2. The Peace dollar series is much easier and cheaper to complete. Only ten Peace dollar dates were issued, compared to 28 Morgan dates. A complete date and mint set comprises 24 coins, compared to 97 Morgans. Hence it’s much easier and more affordable to acquire a Peace dollar set.
3. It was the last 90% silver dollar for commerce. The 90% silver Peace dollar was America’s last circulating silver dollar. Since the series was retired in 1935, no U.S. silver dollars have been issued for commerce. (The 40% silver Ike dollars and recent 90% silver commemorative dollars were only issued directly to collectors.)
4. The advantages of scarcity and limited availability. Only three Peace dollars were minted for every ten earlier Morgan silver dollars. Because of attrition in commerce and huge melts after recall, only a fraction of original Peace mintages survive in collectible quality. In fact, today only one Peace dollar survives for every two Morgans making them especially treasured to collectors.
5. Changes in U.S. dollar coinage. In 1964, Congress authorized additional Peace silver dollars, but the proposed issue was never produced. Later, the Eisenhower design became the official U.S. dollar and more recent dollar coins have been much smaller. The Peace dollar was thus America’s last circulating big silver dollar and there is never likely to be another.
6. It was the first coin to commemorate peace. The inscription “PEACE” on the reverse refers to the belated 1921 Peace Treaty between the United States and Germany, which formally ended World War I. The inscription “PEACE” appears on the rock below the American Eagle standing guard for freedom.
7. This series is acquiring real vintage status. Minted from 1921-1935, Peace silver dollars are now up to nine decades old! No more of these big impressive silver dollars will ever be made. Every year we lose specimens to melts and attrition, now is the time to start your collection.
Happy coin hunting!