1923 Peace Dollar (1923 Peace $1) NGC MS63 CAC. This beautifully toned Peace Dollar has magnificent obverse toning and a shimmering, mainly all white reverse. The obverse colors are predominantly yellow, gold, red, blue, and grey. Because of the full luster underneath the toning, they jump off the coin making it seem as if Liberty is bathed in bright sunshine. Aside from a small spot of golden-brown toning at the bottom of the eagles breast, the reverse is blast white with full, unbroken luster. The coin is well struck, with a few minor contact marks under the toning on the obverse and a few more in the reverse field. The coins designer, Anthony De Francisci used classical lettering for the word Trust much to the consternation of the uninitiated, who think they have found a rare misspelling on a coin. The coin comes with a CAC sticker indicating that it is solid for the grade.

In 1921 at the American Numismatic Association convention in Chicago, Farran Zerbe, founder of the Chase Manhattan Money Museum and historian for the ANA, made a proposal that the half dollar or dollar should be a circulating commemorative celebrating peace. The "War to End All Wars" was over ending with the Treaty of Versailles. The commemorative proposal met with such enthusiasm that a bill was prepared in the House of Representatives to be passed by unanimous consent; however, a single objection prevented it from being placed on the calendar. Later the design was adapted without Congressional approval because the earlier design, the Morgan dollar, had been in use for more than its twenty-five year minimum. Except in the casinos of Nevada, most Peace dollars saw little circulation. In other states, they stayed in bank vaults being part of the cash reserves that banks were required to maintain. The toning on the present coin probably came from being stored in a Mint sealed bag in one of these vaults. De Francisci's design, which was supposed to recall the Statue of Liberty, shows Liberty wearing a radiate crown reminiscent of an earlier Roman coin. He used his lovely twenty-three year old wife Teresa as the model.