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The Peace Symbol was designed by Gerald Holtum, in England in 1958 for the Campaign for Nuclear Disarmament. It is the combination of two semaphore letters, N and D for Nuclear Disarmament, surrounded by a circle.
The symbol actually stands for "Peace" in a very loose way. It was designed by artist Gerald Holton and incorporates the 2 hand-held semiphore symbols for "N" and "D" which stands for "Nuclear Disarmament".