The Peace silver dollars came into circulation in 1921. The designer for the coin was Anthony de Francisci. De Francisci was an Italian immigrant who came to the US in 1905. He worked for a few noted coin designers. One of his mentors was James Earle Fraser, the designer of the Indian Head nickel, aka the Buffalo Nickel. Another mentor was Hermon Atkins MacNeil, the designer of the Standing Liberty Quarter. Another noted designer whom he worked with was Adolph Alexander Weinman, known for the Mercury dime and the Walking Liberty Half Dollar. De Francisci was one of eight sculptors asked to design a new silver dollar with the idea of commemorating the peace after the end of World War I. His design won and he got a $1500 prize.
The Peace dollars carry a stylized head of Liberty wearing a crown of rays. The reverse is a bald eagle perched with rays coming up from below. He is holding an olive branch for peace. The first run of coins, in 1921, were struck in high relief. This was causing problems with minting as well as stacking the coins. One million of these coins went out before the designers dealt with the problem. In 1922, the Mint started striking the coins with lower relief.
The Mint continued making the Peace silver dollars until 1928. At that point, there was little demand for the coins in circulation. They reappeared for limited runs in 1934 and 1935. The coins came out of the Philadelphia, Denver, and San Francisco mints. A limited number of proof coins were struck in 1921 and 1922. These proofs are extremely rare and bring high prices among coin collectors.
Some years and grades of Peace dollars command a higher price than others do. The coins minted in 1921 and 1928 came out in lower quantities than other years. Those coins minted in San Francisco in 1934 are also rarer than others are. However, the grade of the coin is significant. The coin must be in uncirculated condition to the highest prices. Coins minted in other years that are in the finest condition can also command a higher price.
If you have ever seen an Indian head cent, you are looking at the work of the engraver James B. Longacre. He was the fourth person to hold the position of Chief Engraver of the United States Mint. He started out as a portrait artist and eventually because an engraver of portraits. During that time, before photography and modern printing developed, a portrait engraver would take a painting and make an engraving of it. Printers then used that engraving to print the portrait in books and other publications. One noted engraved portrait of Longacre’s was a famous rendition of Daniel Boone, sold widely during the 1830s.
In 1844, James B. Longacre became the Chief Engraver of the US Mint, after the death of the former engraver, Christian Gobrecht. He remained in that post until he died in 1869. Many of the historical coins of the United States came from his work such as the Liberty Double Eagle pictured below.
One of his most famous pieces was the Indian head cent. This penny was the standard design from 1859 through 1909. The face of the penny shows a Native American wearing a feathered headdress. Many of these pennies survive through today. Some years are rarer than others are. The 1877 is one of the most valuable. And the two years of minting in San Francisco, 1908-1909, are prizes to coin collectors.
Another famous design of James B. Longacre was the Liberty Head gold dollar coins. After the California gold rush, there was an emerging need for a gold dollar in American coinage. Longacre made a coin with the head of a stylized Liberty surrounded by 13 stars. The coin was extremely small however. It was just over ½ inch in diameter. Because of its small size, many people ended up losing them. In response, Longacre made the coin slightly bigger with a different Liberty head. Another redesign in 1856 was the final one. It remained in production until 1889.
James B. Longacre also designed the Flying Eagle penny, the 20-dollar gold piece, the 3-dollar gold piece, the Shield nickel, the 2-cent piece, and the 3-cent piece. The US Mint continued using Longacre’s designs until the last one ceased production in 1909, a full forty years after his death. His legacy continues in the world of coin collecting.
Susan B. Anthony Dollars were conceived with the purpose of creating a format for the denomination that would be readily used in commerce. Rather than using paper bills, which would wear out quickly, coins could last for decades saving the government money. It wasn’t that consumers were not amenable to the idea, but they found the new coins too easily confused with the quarter dollar.
Prior to the Anthony Dollar series, Eisenhower Dollars were struck for circulation for eight years. These coins had the same size as the classic silver dollar, although they were stuck in a composition of copper nickel clad. This series was often criticized for being too large and bulky for use in commerce. Outside of use in some casinos, not many were used in commercial transactions.
In 1979, the US Mint released the new Susan B. Anthony Dollars. These attempted to overcome the problems of the prior series. They were sized at 26.5 millimeters, smaller than the traditional 38.1 millimeters for the denomination. The inner rim was given thirteen sides, which would allow the coins to be differentiated by touch. A new design was used for the coins, with the portrait of the famous figure from the womens suffrage movement on the obverse. The reverse carried the same design as the prior series, based on the Apollo 11 mission insignia.
About 750 million of the new coins would be struck for the first year of issue at the mint facilities located at Philadelphia, Denver, and San Francisco. The large scale production was performed in anticipation of widespread public adoption. Despite some favorable publicity around the release, public sentiment quickly turned. People found the coins too difficult to differentiate from the quarter dollar, and even the half dollar. Confusion ensued and many merchants would not accept the coins.
Coining of the new denomination slowed in the following year, and by 1981 coins were only struck for collectors. The idea of a dollar coin fell out of favor until almost two decades later, when a new golden colored dollar coin was under development. It was at the same time that the supply of Susan B. Anthony Dollars finally ran dry. Although the coins were not widely used by the public, certain vending machines began to utilize the coins more readily. The Anthony Dollars were struck for one final year before being resigned to the history books.