United States Silver Peace Dollar
The beautiful Peace dollar circulated mainly in the Western United States, where coins were preferred over paper money, and saw little circulation elsewhere. Aside from this use, the coins were retained in vaults as part of bank reserves. They would commonly be obtained from banks as Christmas presents, with most deposited again in January. With the last of the Pittman Act silver struck into coins in 1928, the Mint ceased production of Peace dollars.
Production resumed in 1934, due to another congressional act; this one requiring the Mint to purchase large quantities of domestic silver, a commodity whose price was at a historic low. This Act assured producers of a ready market for their product, with the Mint gaining a large profit in seigniorage, through monetizing cheaply purchased silver—the Mint in fact paid for some shipments of silver bullion in silver dollars. Pursuant to this authorization, over seven million silver Peace dollars were struck in 1934 and 1935. Mint officials gave consideration to striking 1936 silver dollars, and in fact prepared working dies, but as there was no commercial demand for them, none were actually struck. With Mint Chief Engraver Sinnock thinking it unlikely that there would be future demand for the denomination, the master dies were ordered destroyed in January 1937.
This is an excellent series to collect, and completing the entire collection is still financially possible for most collectors.
Source: http://finerarecoins.blogspot.com/2013/08/united-states-silver-peace-dollar.html
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