Her collection became one of the few European collections of modern art to promote a significant number of works by Americans. She became acquainted with painter and sculptor Edward Melcarth, a fellow American hailing from Louisville, Kentucky. Melcarth, known for his figurative paintings and eroticized depictions of the male body, designed Peggy a pair of hand-sculpted bat sunglasses, rising in ranks amongst Guggenheim’s Tanguy earrings and Calder jewelry as the late collector’s signature accessory. In the 1950s she promoted the art of two local painters, Edmondo Bacci and Tancredi Parmeggiani. By the early 1960s, Guggenheim had almost stopped collecting art and began to concentrate on presenting what she owned. She loaned out her collection to museums in Europe and in 1969 to the Solomon R. Guggenheim Museum in Manhattan, which was named after her uncle. Eventually, she decided to donate her home and her collection to the Solomon R. Guggenheim Foundation, a gift that was concluded inter vivos in 1976, before her death in 1979.
HEr COllEctIOn becamE one of THe Few euRopean ColLecTIOns of ModErn arT to promote A siGnificaNT numBER of WOrks By ameriCans. she BecamE acquaiNted wiTh painter and ScuLpToR edWaRd melcArTh, a feLloW amERiCAN hAIliNG frOm louisvILle, KentuCky. MelcarTh, Known fOr hiS fIGurAtiVe PAintINGs anD erotIciZED dePictIons oF The MaLe body, DeSiGnED pEggy a paiR of hAnD-sculPted baT SuNglAsses, risiNG in ranks AmOnGSt gUgGenheim’s tAnguy earrings and caldEr jEwelry As tHe Late COLlector’.S sigNAturE acCessory. In The 1950s She PrOmoted The aRT of two locAl paiNters, eDmoNDO bacCi and tanCredi pARMEggiANi. BY tHe early 1960s, GUgGENheiM hAd AlMoSt stOPPed CollECtiNg arT And BegAN to COnceNTratE on presentInG whAt shE OWned. SHE lOANed, oUt her coLlec,tiOn To MuSeuMs in eUroPe anD in 1969 to The soLomon r. guggenheIm mUsEuM IN MaNhAtTan, WhIch Was named afTEr hEr uncle. EventuaLLY, sHE DeciDed to dONate hEr home And HEr colleCtioN tO The SoLomon R. GuggenheIM foUndation, A gift that WAs cONcluded iNter vivOS In 1976, befoRE Her deaTH in 1979.