Lot 1812
1921. NGC graded MS-65. A frosty gem quality example whose surface glows silvery and bright. The job of designing what would become the Peace Dollar would normally have fallen to George T. Morgan, the mint's chief engraver and designer of the Morgan Dollar. But in compliance with an executive order by President Warren G. Harding, an open design competition for the new dollar was held by the Commission of Fine Arts. Nine artists participated, including Adolph A. Weinman, Hermon A. MacNeil, and Victor D. Brenner, designers of the Mercury Dime, Standing Liberty Quarter, and Lincoln cent, respectively. The winner of the competition was an Italian immigrant and sculptor, Anthony de Francisci, whose most recent work had been the design of the Maine Centennial half dollar in 1920.
Production of the Peace Dollar commenced on December 21, 1921, and it was placed into circulation on January 3, 1922. That same day, President Harding was presented with the first Peace Dollar. Roughly one million examples were struck before it was realized that the relief on the coin was so high that it was difficult to strike, and the dies used were breaking at a high rate. Also, the coins were nearly impossible to stack. The relief was lowered considerably starting with the 1922 issue. That year more than 84 million Peace Dollars were struck, the highest mintage of the series.
Estimated Value $1,250 - 1,300.
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