 The Peace dollar was released into circulation on January 3 , 1922 . In common with all silver and copper @-@ nickel dollar coins struck from 1840 to 1978 , the Peace dollar had a diameter of 1 @.@ 5 inches ( 38 mm ) , which was larger than the Mint 's subsequently struck modern dollar coins . Its issuance completed the redesign of United States coinage that had begun with issues in 1907 . Long lines formed at the Sub @-@ Treasury Building in New York the following day when that city 's Federal Reserve Bank received a shipment ; the 75 @,@ 000 coins initially sent by the Mint were " practically exhausted " by the end of the day . Rumors that the coins did not stack well were contradicted by bank cashiers , who demonstrated for The New York Times that the coins stacked about as well as the Morgan dollars . De Francisci had paid Morgan for 50 of the new dollars ; on January 3 , Morgan sent him the pieces . According to his wife , de Francisci had bet several people that he would lose the design competition ; he used the pieces to pay off the bets and did not keep any . 
