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.

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