2021 Peace And Morgan Dollars!

Interesting. Hopefully the Senate will act on it, too.

Originally it was going to be classified as a commem. But they pushed thru a coin commemorating police and first responders to try to combat the anti police sentiment. But since they still wanted to do the 2021 morgan and peace they made a loophole.

As for multiple designs I'd be cool with that. I'd want a business strike, an old style proof, and a cameo proof, and maybe an ultra high relief.

As for different mints I'd imagine they'd all be San Francisco coins, but it'd be cool if they got some at the Philly mint. I'd say the Carson City mint, but they're only doing the CC 1870 halves right now as far as I know.

Be interesting to see how this actually shakes out. Slippery slope creating loopholes for things like this.

Also I would hope the design is not identical, otherwise I would be more inclined to purchase a real morgan/peace dollar. So I am very interested to see more information come out. Thanks for the link hfj

The only slippery slope I see is explaining to my wife how I spent hundreds for about $15 in face value (depending if they make 15 different varieties).

The slippery slope comes from the fact that Congress, back in 1996, put measures in place to help ensure that collectors, beginning in 1999, would not be subject to the type of abuse they dealt with back in the mid-1930s when the number of new commemorative coin issues skyrocketed. Congress is now circumventing itself - and the wisdom of the limits - by passing commemorative coin bills that ignore the two commemorative coin limit imposed in 1996.

How is Congress circumventing the 1996 law with this Morgan/Peace Dollar bill? By not specifically naming the new coins as "commemorative coins," by not placing a surcharge on the coins and by not naming a "recipient organization" for the surcharge funds. It should be noted, however, that it's a matter of semantics as the bill states: "These iconic silver dollars with vastly different representations of Lady Liberty and the American Eagle, reflect a changing of the guard in 1921 in the United States and therefore on the 100th anniversary must begin to be minted again to commemorate this significant evolution of American freedom." Sounds like a commemorative coin to me!

Regarding pricing, the new bill simply directs the Secretary of the Treasury, who oversees the US Mint, to strike the new silver dollar coins and charge enough for them to cover:

(1) the face value of the coins; and

(2) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).

This should result in the coins being $10 cheaper than silver dollars in current commemorative programs because there is no surcharge added. I wonder if that would actually happen?

I find it interesting to note that while the bill specifies "The Secretary may issue coins minted under this Act beginning on January 1, 2021." it does not include an end/expiration date. Theoretically, as written, the legislation allows for coins to be struck annually by the Mint.

Of course, there is no guarantee that the bill will be approved by the Senate before the current session of Congress adjourns - prior versions of the bill were held up/not acted upon. If it is not passed by both chambers of Congress and approved by President Trump before the current session adjourns, the bill will have to be re-introduced in the next session in January (with a new makeup after the November elections).

Personally, I hope the bill dies for lack of action in the Senate. I'm probably whistling in the wind, however.

I'm a buyer Hope it passes in the senate.

And if it becomes law, are you buying or taking a pass?

Interesting development.

For at least two reasons:

1. I'm not a fan of coins commemorating other coins - especially when the original coins in question are as common and available as those included here. The 1921 P-D-S Morgan silver dollars make up the most common year sets in the series at 86+ million coins - with its 44+ million coins struck, the 1921-[P] is the most common by over 20 million coins vs. #2 on the list (the 1889-[P]). More than a million of the 1921 Peace dollars were struck. They're not as common as the 1921 Morgan dollars, obviously, but they are readily available in the market. If you like the designs, go out and pick up nice examples of the original coins. Why is a modern re-strike needed?

2. I don't like how the Mint is trying to get around rules that were put in place to protect collectors by pressuring Congress to pass a law that gives it the authorization to strike these new commemorative silver dollars. (See my discussion above for the details.) The Mint is in search of profits at the expense of collectors and appears (in step with the Treasury Department) willing to manipulate our coinage laws to help it achieve its goals. This position is diametrically opposed to the Treasury's stance in years past. If this bill passes, get ready for an onslaught of new, non-commemorative commemorative coins in the coming years.



I will be a pass.