A Matte Proof 1922 Peace, High Relief silver dollar, a coin struck
during the transition to a lower relief for the series, is a highlight
of the April 27 Heritage auction at the Central States Numismatic
Society convention in suburban Chicago.
Another botched release from the United States
Mint: Inside Coin World:
The release of the Congratulations set adds to the narrative that
the U.S. Mint needs to overhaul its approach to limited-edition releases.
The 2017 CSNS auctions will include selections from the Siegel
Collection, which was put together over three decades by the chairman
of a manufacturing company who had a long-held interest in numismatics
that began in his childhood. Always on the lookout for coins that
combined quality, rarity, eye appeal, and low population, he focused
much of his attention on silver dollars, including an 1895 Morgan
dollar graded Proof 64 Cameo by Professional Coin Grading Service, a
large grouping of Mint State 68 Morgan dollars, and a 1921 Peace
dollar graded Mint State 67 by NGC.
Of particular interest is a Matte Proof 1922 Peace,
High Relief dollar graded Proof 64 by PCGS with a green CAC sticker.
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All 1921 Peace dollars representing Anthony de Francisci’s high
relief design were struck in the final week of 1921 at the
Philadelphia Mint. As the Mint worked to lower the relief so that the
new dollars could be better produced for circulation, the Mint
experimented with a variety of Proof Peace dollars. Heritage’s
research shows that three different obverse and four reverse subtypes
are identified for Proof 1922 Peace dollars, and research continues
on these interesting transitional issues. Circulation strike 1922
Peace dollars were produced in a low relief.
Matte Proof 1922 Peace, High Relief dollars are noteworthy for their
rarity (PCGS estimates that five to eight are
known) but Heritage suggests “they also represent a different design
subtype, and may merit classification as a pattern, along with the
high relief satin proofs.”
On the offered dollar, Heritage observes, “The obverse of the
present specimen displays distributed minute tan freckles, and a tiny
tick on the base of Liberty’s neck provides another identifier. The
surfaces are otherwise stone-gray and virtually free from contact, and
under strong magnification exhibit the finely-grained texture
characteristic of matte proof production of the era. The finish is
consistent throughout with the exception of the reverse field near 3
o’clock, which shows slightly greater granularity.” Indeed, the
overall look is very different from what collectors are used to seeing
with circulation strike 1921 or 1922 Peace dollars.
It was previously offered at Bowers and Merena’s March 2000 offering
of the Lindensmith Collection, where it realized $36,800. Research has
enhanced the hobby’s understanding and awareness of these Proof 1921
and 1922 Peace dollars and has brought increased attention to the
issues, which are now considered key 20th century rarities.