Last year, something historic happened in the coin collecting world when a 1921 High Relief Peace Dollar was auctioned for $1.5 million. This not only indicates how the demand for this rare coin is rising but also creates a new benchmark for coin investors and collectors.
Origin of the Peace Dollar
The Peace Dollar was minted in 1921 as a representation of the conclusion of World War I and the hope for peace. Anthony de Francisci designed this coin.
- The reverse of the coin has the lovely image of Lady Liberty.
- The reverse has a stunning eagle clutching an olive branch, representing peace.
- The largest characteristic of this special edition was that it had a high relief design, which set it apart from other coins. Nevertheless, this design proved to be hard to cast, and as such, there was a limited mintage.
Main reasons behind selling at such a high price
There are a few primary factors behind the unusually high price of this coin:
1. Rarity
Total minting of the 1921 High Relief Peace Dollar amounted to just 1 million coins. Moreover, it is very hard to spot it in good quality.
2. Perfect Condition
This coin was graded MS67 by the Professional Coin Grading Service (PCGS). This grade suggests that this coin is in outstanding condition with nearly no defects.
3. Historical Significance
This was the first coin in the Peace Dollar series.
This was the sole year for the adoption of the high relief design.
The 1921 version was significant in America’s coinage manufacturing process.
Other Significant Peace Dollar Auctions
To see how the price of the 1921 Peace Dollar has appreciated, we can examine some of the notable auctions:
| Year | Auction House | Grade | Sale Price |
|---|---|---|---|
| 2002 | Heritage | MS67 | $24,150 |
| 2015 | Heritage | MS67 | $70,500 |
| 2018 | Stack’s/Bowers | MS67 | $132,000 |
This table clearly shows that the value of this coin has increased tremendously in the last two decades.
Importance of High Relief Design
The high relief design was the most unique feature of this coin. However, this design was difficult to cast and put additional pressure on the coin minting process.
Because of this, the Peace Dollar design was altered to reduce relief from 1922, making the 1921 high relief coin the sole distinctive one.
Impact of Coin Grading and Assessment
Grading has a significant role in establishing the value of coins. This 1921 Peace Dollar was graded MS67, which indicates its superior luster, sharpness of design, and very minimal flaws.
These high-grade coins are very rare, and therefore, they are even more precious.
Conclusion
The auction of the 1921 High Relief Peace Dollar for $1.5 million is evidence that the charm of historical and rare coins increases with time.
Collectors and investors are always on the search for such incredibly scarce and high-grade coins. That is why the cost of coins such as the 1921 Peace Dollar can go even higher in the future.
FAQs
Q1. Why is the 1921 Peace Dollar so valuable?
The 1921 Peace Dollar is valuable due to its rarity, high relief design, historical significance, and exceptional condition in top-grade specimens.
Q2. What makes the high relief design special?
The high relief design features more detailed and pronounced imagery, but it was difficult to mint, leading to a limited production and making it a unique one-year type.
Q3. How rare is an MS67-graded 1921 Peace Dollar?
Extremely rare. Only a handful of 1921 Peace Dollars have achieved the MS67 grade, significantly increasing their desirability and value.
Q4. How much did this 1921 Peace Dollar sell for?
It was sold for an astonishing $1.5 million, setting a new record for this coin.
Q5. Will the value of the 1921 Peace Dollar continue to rise?
Given its historical importance and scarcity, its value is likely to appreciate further, especially for high-grade specimens.