The name itself of this shiny silver coin would tell you what it was meant for - Peace. Peace dollars which was first created way back 1921 reverberates a meaningful expression that stretches its message from the distant past up to our modern day.
Peace dollars is indeed remarkable and historic. The US dollar has Lady Liberty engraved on the other side while an Eagle standing proudly and the word “Peace” on reverse. It is said to symbolize the American positivism and dynamism during times of distress. Peace dollars were created in commemoration of the end of World War I and to remember the country's victory. The US Government was encouraged to create the US coin because of a paper written by Frank G. Duffield in 1918 when the war was almost nearing its end. The paper points out a need to honor the country by creating a remarkable coin that would be distributed all over the country and the message would be clearly remembered.
The paper was well-received and Albert H. Vestal, chairman of the House Committee on Coinage, Weights and Measures during that time declared “Peace Dollar,” a standard silver coin, to carry the message of peace. There were several design proposals. And on November 23, 1921 the Federal Commission on Fine Arts declared a competition for the Peace dollar's design. Nine sculptors were invited, and among them are Chester Beach, Anthony Francisci, John Flanagan, Hermon A. MacNeil, and Adolph A .Weinman. And on December 19, the winning design was finally chosen. It was Francisci's design that was selected.
Francisci's original design of the Peace dollar was a picture of Lady Liberty on obverse with words “In God We Trust” and an eagle holding a broken sword on reverse. But the design was interpreted as a form of defeat rather than of peace so George Morgan, a chief coin engraver modified the design and changed the broken-sword into an olive which is well-suited to convey the coin's message and the eagle is now standing on a rock facing sun's rays.
It was on January 3, 1922 that the first Peace Dollar coin was presented to the then president of United States, Warren G. Harding. However, the design gathered negative responses and was not well-received by the public. One of complaints about the Peace dollar's design was that it was neither symbolic nor metaphorical. Lady Liberty's crown didn't look like a crown at all. And even the Wall Street Journal criticized why Liberty's mouth is parted. Due to mounting criticism, it was decided on February 9, 1922 that the coin be withdrawn from circulation.
Despite the coin's unpopular publicity, the message and purpose on why it was created remains significant to US history. Today, Peace dollar is still the symbol of the unfailing American optimism and vigor. The dollar remains popular because of its historical importance during World War I and its artistic value. It is sought after by coin collectors because it was believed that its history, relatively shortage of remaining coins, and the silver content made Peace dollars extremely invaluable.
