Silver dollars bearing the legend PEACE on the reverse were minted in America between 1921 and 1935. They were created in the aftermath of World War I, a time when Americans craved a return to peace and normalcy. World War I was known as the war to end all wars, and in its wake, the League of Nations (a precursor the UN) was formed with the hope of preventing the outbreak of further global conflicts.

Neither the hope for lasting peace, nor the issuance of the Peace dollar was to survive a single generation. Today, Peace dollars are collectible coins, representing the last of the US silver dollars to be composed of 90 percent silver. A complete set consists of just 24 date and mint combinations.

The Peace dollar was designed by Anthony de Francisci, who used his wife Teresa as a model for the figure of Liberty on the coin's obverse. An eagle on a rock appears on the reverse of the coin, bathed in upward rays of light. The peace motto appears at the bottom of the coin, superimposed on the rock.

Production of the Peace dollar began very late in 1921, and continued regularly through 1928. Public demand for the silver coin was low, and production of the Peace Dollar was halted. It was briefly resumed in 1934 and 1935 when the government required additional backing for silver certificates. Within four years, World War II had erupted, and the Peace dollar was never again minted for circulation. Several hundred thousand were made in 1964, but all were destroyed, and rumors of the existence of contraband 1964 Peace dollars have not been confirmed.