Arguably the most coveted and collected vintage U.S. silver coin of all time, Morgan Silver Dollars are always in demand. And no wonder: this is a coin steeped in American history, minted from the era of the Wild West to the first shout of the Roaring Twenties.
As the largest silver currency coin ever to circulate in the United States, the Morgan Silver Dollar was America's "work horse" coin – the big silver dollar many businessmen, farmers and housewives counted on as cash money every day.
Silver Peace Dollars
It's 1921. The Great War is over and the American economy is booming. The U.S. Mint strikes its last Morgan Silver Dollar and prepares to release a brand new coin to celebrate a world finally at peace. It would be known as America's Peace Dollar, the last circulating 90% Silver Dollar ever issued in the U.S.
Rewind to the Pittman Act of 1918, which authorized the melting of some 270 million Morgan Silver Dollars for the war effort – with the stipulation that following the war's end, all those melted Silver Dollars would have to be replaced. Production of the newly-designed Silver Peace Dollar began in December of 1921, when, for a few short weeks, the mint attempted a high-relief design like the Saint-Gaudens gold piece. But the coins were just too difficult to strike. Since the mint needed to replace a considerable number of melted Morgans, it made a smart and timely decision: opting to strike a low-relief version for 1922's first full year of Peace Dollar production. Every Peace Dollar afterwards would follow suit.
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