The History of the Peace Dollar
In the late 1800’s and early 1900’s, the Bland-Allison Act and the Sherman Silver Purchase Act had required the United States government to buy large amounts of silver every year to help the struggling western mining states. According to law, this silver was to be coined into silver dollars, and the Morgan Silver Dollar was designed and put into production. The Sherman Act was repealed in 1893. The government’s supply of purchased silver lasted eleven more years, but after 1904 the production of Morgan Silver Dollars stopped.