1921-P VAM-1L

Description

William Bland identified the 1921-P Peace VAM-1L "Bulls-eye O Die Chip" in September 2006, naming it for the distinctive die chip that creates a raised circular feature within the center of the letter O in ONE on the reverse. Cataloged as 1L I 1 · Aa (Bulls-eye O Die Chip), this variety occupies a unique visual niche among Peace dollar die varieties — the chip inside the O produces what collectors describe as a "bulls-eye" effect, where the normally open center of the letter contains a raised dot or circular mark surrounded by the O's ring, mimicking a target's concentric pattern. Anthony de Francisci's Peace dollar debuted in December 1921 with a high-relief design that was reduced to low relief for all subsequent years, making the 1921 issue the only high-relief regular production Peace dollar. Philadelphia struck approximately 1.01 million Peace dollars in 1921, a modest figure reflecting the late-year introduction date — production began only after the design was finalized and dies were prepared. The Obverse I 1 classification identifies this as a Type I obverse die characteristic of the 1921 high-relief production, paired with a Reverse Aa that carries the diagnostic die chip. Die chips result when a small fragment of die steel fractures away from the die surface, creating a void that fills with metal during striking and produces a raised feature on the coin. The location inside the O of ONE — a letter with an enclosed counter (interior space) — means the chip fills this naturally open area, creating the distinctive bulls-eye appearance. The high-relief design of 1921 Peace dollars creates deeper die cavities and higher striking pressures than the subsequent low-relief issues, potentially contributing to die chip formation. Collectors should examine the O in ONE on the reverse under 10x magnification, looking for a raised circular feature inside the letter that transforms its normally open center into the characteristic bulls-eye pattern.

External References