1921 Peace Silver Dollar. High Relief. MS-66 (PCGS). An exceptionally well produced and preserved 1921 High Relief Peace dollar. Central striking detail is remarkably full for the type, the definition complete in other areas toward the borders. The obverse is brilliant apart from a splash of olive iridescence in the center, while the reverse exhibits lighter champagne-pink and pale gold throughout. Softly frosted with a smooth and inviting appearance.<p>The passage of the Pittman Act in 1918 required the Treasury to melt as many as 350 million silver dollars to be used for the production of subsidiary silver coinage or to be sold as bullion. It also required that the Mint strike replacement silver dollars for any that were destroyed. In just two years, more than 270 million silver dollars ended up in the Mints crucibles, and to meet the terms of the act, low relief 1921 Morgan dollars were produced in prodigious quantities.<p>With the encouragement of the ANA, legislation was proposed and approved by Congress in May 1921 to issue a new silver dollar to celebrate the return of peace after World War I. The Commission of Fine Arts sponsored a competition and the design by Italian immigrant Anthony de Francisci was selected the winner. The winning design featured a bust of Liberty modeled on his wife, Teresa, and a proud eagle standing on a rock engraved with the word PEACE surrounded by a glory of rays on the reverse. The new design was not ready until late in the year and the entire production of 1,006,473 coins took place between December 26 and 31. The first of these coins were released just a few days later on January 3. Well struck and with significant eye appeal, this is certainly one of the nicest to come on the market in recent times.<p>
