Peace Dollars were created as a way to commemorate the restoration of peace following the end of World War I. Rather than being issued for a single year, the series continued for a number of years, as three United States Mint facilities struck silver dollars in relatively large quantities. Mintages for the series occur at two extremes with large numbers struck early in the series and low mintages and a significant key date towards the end of the series.
Anthony de Francisci designed the Peace Dollar, winning a competition among several notable artists of the era. The design used when the first coins were struck in 1921 was done in high relief with a portrait of Liberty based on his wife appearing on the obverse. The reverse of the reverse of the coin featured an eagle perched on a rock with rays of the sun behind. The eagle grasps an olive branch and has the word “PEACE” below. The relief of the coin was lowered for subsequent years of the series.