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Obverse of 1921 Peace Dollar     Reverse of 1921 Peace Dollar
Matte Proof

Obverse of 1921 Peace Dollar - Satin Proof     Reverse of 1921 Peace Dollar - Satin Proof
Satin Proof


PCGS No: 7356


Circulation strikes: 1,006,473
Proofs: estimated 15

Designer: Anthony de Francisci

Diameter: 38.5 millimeters

Metal Content:
Silver - 90%
Copper - 10%

Weight: 412.5 grains (26.7 grams)

Edge: Reeded

Mintmark: None (for Philadelphia, Pennsylvania) below ONE on the reverse

Following the death and destruction of World War I, peace became a priority in America and throughout the world.  Following some nudging by a numismatist named Farran Zerbe, America began issuing a "Peace" Dollar in 1921.  Unfortunately, by the time the original concept turned into the finished product, "PEACE" became a small word relegated to the bottom of the back of the coin.  The 1921 Peace Dollar was struck in very high relief, giving the coin an impressive, medallic appearance similar to that seen on the "High Relief" $20 Gold Pieces of 1907.

The finest Uncirculated examples graded by PCGS are 5 MS-67's.

PCGS has not graded any Proof 1921 Peace Dollars.

Matte Proofs have a dull texture caused by etching of the coin's surfaces.  Satin Proofs have a brilliant texture unlike that seen on examples made for circulation.  The strike on Proof 1921 Peace Dollars should be strong and there should be no underlying marks.  Friction on the high points or contact marks will leave shiny areas where the matte or satin finish has been disturbed.  Beware of fraudulent Proofs where a faux texture has been applied to a circulation strike -- these will show matte or satin surfaces inside any contact marks.  True Matte Proofs are extremely rare, with only six to eight known to exist.  Satin Proofs are also extremely rare, with approximately a 10-12 known.

Matte Proof 1921 Peace Dollars have been identified in the Smithsonian, the American Numismatic Society, in the Col. Green collection, the Lester Merkin 06/1971 sale, and the former Kagin example.

Images courtesy of Superior Galleries and Ira and Larry Goldberg Coins & Collectibles

Significant examples:
NGC Satin Proof-66
- Jack Lee

NGC Satin Proof-64 (illustrated above)
- Goldbergs 1/2004:2839, no prior pedigree, $40,250.00

NGC Matte Proof-65 (illustrated above)
- Goldbergs 1/2004:2838, no prior pedigree, $40,250.00
- Superior 1/2005:909

Auction appearances:
- Heritage 08/2000:6418, not sold

- Heritage 01/2001:7681

- Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot 3769, illustrated, sold for $1,466.25

NGC MS-65.  Ex- Heritage Numismatic Auctions, Inc.'s "October 2000 Long Beach Sale" October 5-7, 2000, Lot 8501, illustrated, sold for $1,121.25

PCGS MS-65.  Ex - Bowers & Merena Galleries' "The Rarities Sale", January 3, 2001, Lot 403, illustrated, sold for $1,955.00

Sources and/or recommended reading:
"Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins" by Walter Breen

"The PCGS Population Report, April 2003" by The Professional Coin Grading Service