In 1921, a new silver dollar was minted in the United States. However, during those times -- demands for a new silver dollar was low and there was no need for an additional mintage. But with the efforts of some government officials that passed a legislation act called the Pittman Act and the desire to have a commemorative item during the end of WWI in 1918, set the stage for the creation of a new 1921 Silver Dollar.
The Pittman Act along with the Congress called for 350,000,000 existing Morgan dollars to be melted and the collected silver was then prepared to create the new 1921 Silver Dollar. They also gave subsidy to the country's leading silver producers to increase their output. The Morgan Dollar was minted for 3 mints in 1921 and created around 86 million coins. At that time Anthony DeFrancisci also designed a new Peace Dollar. His first design was a depiction of LIBERTY face and later became the main design for the silver coins.http://www.youtube.com/watch?v=eXZl6wccy3U