The obverse design depicts a female head emblematic of Liberty, wearing a tiara of light rays. The CFA chose the work of notable Italian American artist Anthony de Francisci. The design of the Peace Dollar was selected by the Commission of Fine Arts (CFA) from models submitted by a number of prominent sculptors. Six months later nearly 25 million Peace Dollars had been minted. The Mint made more than one million Peace Dollars in less than one month. The Peace Dollar commemorated the declaration of peace between the United States and Germany. In December 1921, Treasury Secretary Andrew Mellon approved the Peace Dollar to replace the Morgan Dollar. No special congressional authority was required for the modification in design, since the law permits changing the design of any U.S. Later that year, the Philadelphia Mint switched production to the Peace Dollar. In order to satisfy the Pittman Act, production of the Morgan Dollar resumed in 1921 at Philadelphia, San Francisco, and – for the first time – Denver. However, the Act also required silver to be purchased in order to manufacture new silver coins to replace the melted ones. Since the New Orleans Mint relied on silver coin production for business, this ultimately led to its shutdown as a Mint facility.Īfter World War I, the Pittman Act of 1918 authorized the melting of millions of previously minted silver dollars (primarily Morgan Dollars). No silver dollar coins were minted in the U.S. When demand and silver bullion supplies dropped as a result of this legislation, production of the Morgan Dollar was suspended in 1904 at all U.S. Once again, legislation played a role in the silver supply chain because of the passage of the 1890 Sherman Silver Purchase Act. The next year, New Orleans joined in, and, like San Francisco and Philadelphia, would manufacture Morgan Dollars through 1904. Following some design revisions, they were also struck at San Francisco and Carson City that same year, because of the facilities’ proximity to the silver mines in the western United States. The first Morgan Dollar coins were struck in 1878 at the Philadelphia Mint. 246, 248), the obverse features a profile of Lady Liberty, and the reverse features a heraldic eagle. Adhering to the requirements written in the Coinage Act of Ap(1 Stat. Morgan (who, from 1917-1925, would serve as chief engraver). This new coin would be commonly referred to as the Morgan Dollar, since it was designed by George T. The Bland-Allison Act re-authorized the standard silver dollar to the weight and fineness as stated in the Act of Janu(26.73 grams. Before the nation could truly benefit from this discovery, previous legislation demonetizing silver first had to be overcome.
Silver mining in the United States, mainly the Comstock Lode (1859), is the catalyst that gave silver dollar coinage its heyday.
These three coins, spanning 100 years-from the first Morgan Dollar in 1878 to the final Eisenhower Dollar in 1978-share a connection through history and legacy. This year also marks the 50th anniversary of the silver coin that would follow: the Eisenhower Dollar. Essentially, it’s the centennial of the transition between minting two of the most famous coins issued by the United States Mint. This year marks the 100th anniversary of completion of coinage of the Morgan Dollar and the 100th anniversary of commencement of coinage of the Peace Dollar.
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