1921 Peace Silver Dollar. High Relief. Satin Proof-66 (NGC).Struck from new, carefully impressed dies on the Mints hydraulic press, this gorgeous Satin Proof 1921 Peace dollar displays sharp definition to even the highest elements of the design in and around the centers. The degree of detail evident on these coins is superior to that usually obtainable in a circulation strike 1921 Peace dollar, even one that has received an uncommonly sharp strike from the dies. In addition to the central high points, the obverse lettering and the reverse rays are in very high relief on these satin finish Proofs. The surfaces exhibit the characteristic bright, satiny texture with a modestly semi-prooflike finish. Close inspection with a loupe reveals swirling die polish lines in the fields, most significantly on the obverse at the word WE and on the reverse above the word ONE and contiguous to many letters in the legend UNITED STATES OF AMERICA. Both sides are impressively smooth to support the outstanding premium Gem grade from NGC. Otherwise brilliant, crescents of iridescent pinkish-rose toning line the upper obverse and lower reverse borders to enhance the eye appeal.<p>Among the more enigmatic Proof Peace dollars, the satin finish 1921 is a very difficult coin to properly attribute. The Mint struck these coins using the same dies that it eventually used to produce certain circulation strike 1921 Peace dollars. As such, it can be difficult to distinguish a true Satin Proof 1921 Peace dollar from an uncommonly well made and carefully preserved circulation strike.<p>Even so, some specimens are undeniable Satin Proof strikings of the 1921 Peace dollar, the present specimen included. These coins were struck on the Mints hydraulic press from carefully impressed dies for presentation to government officials and other persons important to the Peace dollar design process. In this the Satin Proofs share a common origin and purpose with the Sand Blast Proof 1921 coins, and both types were probably prepared at the same time during the last few days of that year. The mintage figure for the Satin Proofs can only be estimated based on the number of specimens extant as this issue is not mentioned in the mint directors report for 1921. It also seems likely that the Mint did not make these coins available for purchase by the contemporary public; at very least the issue was unknown to the public at large at the time of striking.<p>The Satin Proof 1921 Peace dollar was also unknown to the numismatic community until 1975, when Walter Breen authenticated the discovery specimen at that years ANA Convention. The large amount of time that elapsed since the creation of these coins and their numismatic discovery is easily explained if we keep in mind two previously presented points. First, the Satin Proof 1921 is not a regular issue and was not widely publicized at the time of striking. Second, Satin Proof silver dollars of this date can be difficult to distinguish from well made business strikes, so it is easy to understand how the special status of these pieces was overlooked by earlier generations of collectors.<p>The Satin Proof 1921 is not quite as rare as the Sand Blast variant, although properly attributed pieces are still major numismatic rarities in an absolute sense. We believe that fewer than 15, if not 10 different 1921 Peace dollars exist that are undeniable Satin Proofs. This one, in NGC Proof-66, is the single finest certified and offers both absolute and condition rarity for the connoisseur.PCGS# 7382. NGC ID: 2UAU.Combined PCGS and NGC Population: 1; 0 finer.Property of a Texas Gentleman. Earlier ex Jack Lee Collection; Heritages Atlanta ANA Signature Auction of April 2006, lot 1237; Heritages sale of the Greensboro Collection, Part V, January 2014 FUN Signature Auction, lot 5344; Heritages FUN Signature Auction of January 2023, lot 3804.
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