“The Peace dollar is a United States dollar coin minted from 1921 to 1928, and again in 1934 and 1935.
Designed by Anthony de Francisci, the coin was the result of a competition to find designs emblematic of peace. It is 90% silver, 10% copper,and contains 0.77 troy oz of silver.” (Wikipedia)
The Pittman act of 1918 was a federal subsidy to the Nevada silver mining industry, which provided silver at $1 per ounce. Approximately 209 million ounces of silver was mined to make the coins.
History of the Zwart coin
It was minted in Philadelphia in 1923 (96 yrs old in 2019), as there is no mint mark by the eagle’s
wingtips. To the best of Steve Zwart’s knowledge, the coin is uncirculated. The US inflation rate in 1974 was 11%. Claude H. Zwart, Jr. (1933-2009) wanted a hedge against inflation, so he invested in silver and diamonds and purchased the coin from a coin store in Creve Coeur, Mo.
The coin resided in the 1 st National Bank vault in St. Louis, Mo. from 1974 to 1985.
Claude gifted the coin to his son Steve in 1985 and the coin resided in a safe deposit box at Member’s Heritage credit union in Lexington, KY until 1995, when Steve thought it would be nice to have at the home. Known addresses for the coin:
- 3968 Hillside Dr., Lexington, KY
- 1723 Courtney Ave, Lexington, KY
- 3025 Town Branch Rd, Lexington, KY
- 1030 Elk Dr., Christiansburg, VA
- 2701 Suzanne Cir, Lexington, KY
Today on MLK day 2019, the coin gets a new custodian, Mr. Parikshit Mohite. He worked with Steve at the Kentucky Commonwealth Office of Technology and is a tennis buddy.