Interesting facts: In 1964, more than 300,000 Peace Dollars were produced at the Denver Mint, but all were destroyed.
The first of the Peace Dollars were struck and issued in 1921 from designs by Anthony de Francisci, winner of a competition held by the Commission of Fine Arts. At age 34, de Francisci was the youngest of the competitors; he was also among the least experienced in the realm of coin design. The goal was to produce an appropriate design commemorative of the termination of the war between the Imperial German Government and the Government of the people of the Untied States. Designer, Anthony de Francisci chose his wife Teresa as the ideal model for the classical features of Miss Liberty.
A large amount of critism greeted the new Peace Dollar design. Some critics charged that Liberty looked like a modern flapper, despite her distincly old fashioned hair-do. Others protestested because her mouth was open. Even the eagle was abused for lacking dignity, and he looked as if he was gazing into vacancy with the cheerless attitude of a wet barnyard fowl waiting for the weather to clear.
There was one genuine difficulty in that the coins could not be perfectly struck up by ordinary means. The high relief of the dies created numerous problems for the Mint, including shortened die life, and difficulties in bringing up the details with a single strike. Rumors that the coins did not stack well were contradicted by bank cashiers, who demonstrated for The New York Times that the coins stacked about as well as the Morgan dollars. Changes were soon made and the the relief of the design was lowered.
Obverse: Depicts a profile of Lady Liberty facing left. The designer's monogram is located in the field of the coin under the neck of Liberty.
Reverse: Depicts a bald eagle perched on a rock and looking right.
Overall: Very common in all grades up through MS66. Most common issue for the type is 1923. MS 67 examples are very scarce and the finest known examples are two in MS68. Matte and and Satin Finish Proof examples exist of the 1922 but are extremely rare and desirable.