1922 Peace Dollar, Low Relief Matte Proof: A Collector’s Guide

The 1922 Peace Dollar, Low Relief Matte Proof, is one of the rarest and most intriguing coins in American numismatic history. Struck as part of an experiment by the U.S. Mint, this coin stands apart from the regular 1922 Peace Dollars due to its unique finish and exceptional rarity. Numismatists consider it a holy grail of the Peace Dollar series, and owning one is a dream for serious collectors.

Historical Background

The Peace Dollar was first introduced in 1921 as a commemoration of the end of World War I. Designed by Anthony de Francisci, the coin’s obverse features a radiant Lady Liberty wearing a crown of rays, symbolizing peace and freedom. The reverse depicts a bald eagle resting on an olive branch with the word “Peace” inscribed below.

The initial design of the 1921 Peace Dollar featured high relief to emphasize the artistic details. However, the high-relief design posed practical challenges, as the coins were difficult to strike and prone to rapid die wear. To address this issue, the Mint transitioned to a low-relief design in 1922 for general production.

Unique Features of the 1922 Low Relief Matte Proof

1. Matte Finish:
   Unlike the mirror-like surfaces of traditional proof coins, the 1922 Matte Proof Peace Dollar has a soft, frosted finish. This subdued luster enhances the coin’s artistic details and distinguishes it from standard business strikes.
2. Low Relief Design:
   The low-relief design improved the minting process, ensuring the dies lasted longer and the coins stacked better. However, it subtly altered the appearance of Liberty’s profile and the eagle on the reverse, making this coin an important evolution in the Peace Dollar series.
3. Sharp Details:
   The matte proof coins were struck with extra care, ensuring crisp and well-defined details. From the strands of Liberty’s hair to the eagle’s feathers, the craftsmanship is extraordinary.

Value and Collectibility

Due to its extreme rarity, the 1922 Peace Dollar Matte Proof is highly coveted among collectors. When they do surface at auction, these coins command staggering prices:

• Coins graded PR63 or PR64 by services like PCGS or NGC typically sell for hundreds of thousands of dollars.
• In higher grades, such as PR65, the coin can fetch prices exceeding $1 million.

How to Authenticate a 1922 Matte Proof Peace Dollar

Given the coin’s immense value, counterfeits are a concern. To ensure authenticity, it is essential to:

1. Obtain Professional Grading:
   Only purchase a 1922 Matte Proof Peace Dollar that has been certified by a reputable grading service such as PCGS or NGC.
2. Inspect the Finish:
   The matte proof finish is distinct from the luster of regular strikes. Look for the soft, even frosting on the coin’s surface.
3. Examine the Details:
   Matte proofs have sharper details compared to circulation strikes, especially in Liberty’s hair and the eagle’s feathers.

Why Collect the 1922 Low Relief Matte Proof Peace Dollar?

1. Historical Significance:
   This coin represents an important moment in U.S. Mint history as part of the transition from high-relief to low-relief designs.
2. Artistic Merit:
   The matte finish accentuates the elegance of de Francisci’s design, making it one of the most visually stunning coins in the Peace Dollar series.
3. Investment Potential:
   With only a few known examples, the 1922 Matte Proof Peace Dollar is a sound investment. Its rarity ensures strong demand and appreciation over time.

Conclusion

The 1922 Peace Dollar, Low Relief Matte Proof, is a true masterpiece of American coinage. Its rarity, historical importance, and aesthetic appeal make it a prized possession for collectors and a highlight of any numismatic collection. For those fortunate enough to own one, it represents not just a coin, but a tangible piece of history.

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