The Peace Dollar was minted to commemorate the signing of the peace treaty between the United States and Germany at the end of World War I. Interestingly, this silver coin was created without a new Congressional Act; instead it was minted under the provisions of the Pittman Act that authorized the reissue of the Morgan Silver Dollar in 1921.
Design of the Peace Silver Dollar - The medalist Anthony De Francisci designed the Peace Silver Dollar using his wife Teresa as a model for the personified head of Liberty. Above her head appears the word 'LIBERTY' and beneath sits the date of issue. The motto 'IN GOD WE TRUST' appears around her neck separated between the words 'WE' and 'TRUST'.
The reverse (back) of the coin features a perched eagle on a mountain crag looking off into rays of sunlight. Across the eagle is the dollar denomination. The Mint Mark appears underneath the word 'ONE'. At the top of the coin along the rim lie the words 'UNITED STATES OF AMERICA' above the Latin phrase 'E ' PLURIBUS ' UNUM'.
All Peace Silver Dollars were struck in high relief in 1921, their first year of production. The design was slightly modified in 1922 and normal relief coins were struck later that year. Peace Dollars were struck continuously until the effects of the Great Depression were felt in 1929. The U.S. Mint began producing the Peace Dollar again in 1934, but coins dated 1935 would be the last to see circulation. Peace Dollars were struck in Denver again in 1965, but all were destroyed and none ever reached circulation.