Operation heads were in a recent sale of a 1921 High Relief Peace Dollar for $1.5 million, creating a new record for that coin and turning heads in the numismatic community,
As stated above, rare coins interest collectors not merely for fun but also for investment reasons.
The Stonewalling of the Peace Dollar
The Peace Dollar was produced in 1921 to commemorate the end of World War I and signify the nation’s resolve to peace.
The coin was created by Anthony de Francisca, from an impressive portrait of Lady Liberty on the obverse to a rather dignified eagle holding an olive branch on the reverse.
It is special in that it is a high relief coin, with the expected difficulties in minting and, therefore, rarity in production.
Reason behind Setting That Record Price
The increase in value of this coin was the result of many factors. The 1921 Peace Dollar was made rare by:
- Rarity: The mintage of 1,100,000 is considered rare; especially this coin in an uncirculated condition: 1921 High Relief Peace Dollar,
- Condition: Excellent preservation and eye appeal, graded by the PCGS as MS67.
- Historical Importance: This marks the first year in the series of Peace Dollars and is considered not only unique but rather extraordinary in the history of U.S. coinage, with only this particular year featuring the high relief.
A Comparison of Major Previous Auctions for Peace Dollars
Some of the best comparisons to this significant sale would be the previous major auctions for 1921 Peace Dollars:
| Year | Auction House | Grade | Sale Price |
|---|---|---|---|
| 2002 | Heritage | MS67 | $24,150 |
| 2015 | Heritage | MS67 | $70,500 |
| 2018 | Stack’s/Bowers | MS67 | $132,000 |
The dramatic appreciation in value over the last two years has been illustrated by these figures above for top-grade 1921 Peace Dollars.
The Importance of the High Relief Design
- The high relief design of the 1921 Peace Dollar is something that will, of course, make it even more desirable.
- The high relief made a more dramatic and detailed design, but it also created problems in production in that the high relief taxed the dies used to mint the coins.
As a result, the Mint changed to a lower relief design in subsequent years, making the 1921 high relief coins a special, one-year type.
Role of Coin Grading in Value
Professional grading is, among other things, that function for establishing a market price for coins. The grade MS67 assigned to this specific 1921 Peace Dollar indicates, this coin is all but flawless with the most exceptional luster and sharpness. Very few are this fine, and that increases its value to collectors.
The price, recently at $1.5 million for the sale of the 1921 High Relief Peace Dollar, not only showcases the coin’s intrinsic beauty and historical significance but also represents a healthy bite in the market demand for rare and high-quality numismatics.
With collectors constantly looking for top specimens, the rare coin market continues to be active and alive, including the 1921 Peace Dollar.
FAQS:
Why is the 1921 Peace Dollar so expensive?
The value of the 1921 Peace Dollar derives from its small mintage, unique high relief design, and significance as the first year of the series. Specimens of high grade are especially rare, hence they are much sought after.
What does it mean if something is rated MS67?
MS67 refers to a grade given by professional coin grading services defining a coin in near perfect condition, displaying outstanding luster and with only minor imperfections. Such grades are rare and greatly elevate a coin’s worth.
How does the high relief design enhance the worth of such a coin?
That high relief design in the 1921 Peace Dollar makes the coin unique, for that was used only in that first year out. This, along with the minting difficulties, adds to its rarity and greater allure with the collectors.