The value of a 1921 silver dollar mostly depends on its series and the coin’s condition. Generally, one belonging to the Morgan series currently has a minimum value of $23.68, while a 1921 peace silver dollar has a minimum value of $62.
Although both series are in high demand, the Peace series has a higher value because it was struck in high relief and is rare today. With intricately beautiful designs and profiles, no collection is truly complete with the 1921 silver dollar series.
1921 Silver Dollar Identification Guide
Comprising two series, each with unique histories, the 1921 silver dollar not only existed to fulfil certain Acts but also became quite popular among coin collectors. Its series were made of 90% silver and 10% copper. It would also become a symbol of peace starting from the later part of its year of production.
History
The production of the 1921 silver dollar started as a fulfilment of the Pittman Act, which allowed the conversion of millions of silver dollars for sale during the Great War. However, the US Mint had to replace this silver by purchasing from American mines and producing the silver dollars after the war.
When the war ended, the US Mint had to fulfil the agreement and started producing the first set of silver dollars in 1921. Since the mint stopped the production of the Morgan silver dollar in 1904 after fulfilling the Sherman Silver Purchase Act, what better way to carry out the Pittman Act than to simply resume the production of Morgan silver dollars?
However, several Numismatists began to push for the authorization and production of a coin that would celebrate the end of the Great War. Later in December 2021, Treasury Secretary Andrew Mellon finally authorized the 1921 Peace silver dollar.
The approval allowed the US Mint to replace the Morgan silver dollars with the Peace series.
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The 1921 Silver Dollar Series
To fully collect the 1921 silver dollar, you need to obtain its series. Fortunately, it has only two main series, the Morgan and Peace series. It is important to note that the latter has a higher value than the former. The reason is that the 1921 peace silver dollar is very rare.
1921 Morgan silver dollar
This coin belongs to the Morgan series and was the first to be produced to fulfil the Pittman Act. Minting ran throughout the year and stopped in December 1921 when the Peace series replaced it.
Three Mints were responsible for striking the 1921 morgan silver dollar, and they are the Philadelphia, San Fransisco, and Denver mints. Interestingly, this year was the only time the Denver mint struck a Morgan dollar, and it produced the lowest amount of the three mints.
1921 Morgan silver dollar Specifications |
|
| DIAMETER | 38.10 millimeters |
| WEIGHT | 26.73 grams |
| EDGE | Reeded |
| METAL | 90% Silver, 10% Copper |
| DESIGNER: | George T. Morgan |
Features
A 1921 morgan silver dollar has unique features that distinguish it from a peace silver dollar. You can find these features on both its obverse and reverse.
Obverse
You will find the left-side profile of Miss Liberty at the centre of the coin. Her profile illustrates comprehensive details of her hair with individual strands easily recognizable if the coin is in uncirculated condition. Thirteen stars line the bottom half of the coin, seven on the left and six on the right, with the year “1921” at the bottom centre.
On the upper half of the coin, you will see the famous words “E PLURIBUS UNUM,” which means ONE FROM MANY.
Reverse
There is an American bald eagle with outstretched wings at the centre of the coin, clutching an arrow and an olive branch. Above the eagle’s head are the words “IN GOD WE TRUST,” and the “UNITED STATES OF AMERICA” can be found along the top of the coin. At the bottom of the coin, you will find its denomination in words “ONE DOLLAR.”
The arrow and olive branch symbolizes the United States’ readiness for war and peace. Finally, there are two stalks of wheat along the coin’s sides, between the eagle and the words.
1921 Morgan silver dollar Mints
Although five Mints produced the Morgan dollar throughout history, only three struck the 1921 morgan silver dollar. The three Mints are:
1921 Morgan silver dollar Mints |
||
| Year | Location | Minted |
| 1921 Morgan silver dollar with no mark | Philadelphia | 44,690,000 |
| 1921 S Morgan silver dollar | San Fransisco | 21,695,000 |
| 1921 D Morgan silver dollar | Denver | 20,345,000 |
Philadelphia Mint
The Philadelphia mint struck the highest number of 1921 morgan silver dollars with a total of 44,690,000. Coins from this Mint do not have a mint mark so when you find one with no mark, know that it is from the Philadelphia mint.
San Fransisco Mint
This facility struck the second-highest number of 1921 morgan silver dollars with a total of 21,695,000. You can easily recognize a San Fransisco mint through the letter “S” found beneath the wheat and above the “DO” of the “ONE DOLLAR” on the coin’s reverse.
Denver Mint
The Denver mint struck the lowest number of 1921 morgan silver dollars with a total of 20,345,000. Interestingly, this facility had never struck a Morgan dollar before the year 1921. The presence of the letter “D” on the coin’s reverse indicates that the Denver mint struck it.
1921 Peace Silver Dollar
The 1921 peace silver dollar replaced the morgan silver dollar in December 1921. The US Mint produced it to celebrate the peace after World War 1, which was the first struck coin of the peace silver dollar series.
This coin was initially struck in high relief at the Philadelphia mint before subsequent production switched to normal relief. The reason was that striking the peace silver dollar in high relief was difficult and not sustainable for the long haul.
1921 Peace Silver Dollar Features
While both the 1921 morgan and peace silver dollars carry Liberty’s profile on the obverse and a bald eagle on the reverse, these coins have distinct differences.
Obverse
The features on the coin’s obverse are the same as subsequent peace dollars with the only difference being the year. At the center, you will find the left-side profile of young Miss Liberty wearing a tiara. The words “IN GOD WE TRUST” are struck under Miss Liberty’s profile, truncated by her neck in between “WE” and “TRUST.”
Along the top side of the coin, you will find the word “LIBERTY,” while the bottom of the coin carries its year of production “1921.”
Reverse
The words “UNITED STATES OF AMERICA” are struck along the top of the coin with the famous “E PLURIBUS UNUM” directly beneath them. You will find an American bald eagle at the center of the coin, facing right and holding an olive branch. The eagle truncates the coin’s denomination into “ONE” and “DOLLAR.”
Finally, the word “PEACE” is at the bottom of the coin under the olive branch. Peace dollars of subsequent years carry their mint marks at the area under “ONE” and the eagles tail. However, the 1921 peace silver dollar has no mint mark because it was struck at the Philadelphia mint.
Mint
1921 Peace Silver Dollar Mints |
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| Year | Location | Minted |
| 1921 Peace silver dollar with no mark | Philadelphia | 1,006,473 |
Only one facility produced the 1921 peace silver dollar, and it was the Philadelphia mint. With a total of 1,006,473 total struck coins, these series are quite rare to find in uncirculated conditions. This makes them more valuable than their morgan counterparts.
Furthermore, numismatic historians estimated that about twenty-four proof coins were struck in satin and about five in matte. If at all they still exist, these proof coins will be worth a fortune.
How Rare is the 1921 Silver Dollar?
The rarity of the 1921 silver dollar varies based on the type in question. A 1921 morgan silver dollar is quite common because of the high number of total struck coins which are 86,730,000. Although this figure easily puts it in the common category, finding one in uncirculated condition might turn out to require time and patience.
On the other hand, the 1921 peace silver dollar is less common than its morgan counterpart. In fact, with a total of 1,006,473 coins, it falls in the rare category. This makes acquiring one in uncirculated condition a feat because of the low number of available coins.
1921 Silver Dollar Value
The value of the 1921 silver dollar depends on the coin’s grade and its type. A 1921 morgan silver dollar is expected to have lesser value than its peace counterpart because of its abundance.
However, the coin’s grade can significantly increase its value, especially when it falls is in higher mint states.
Grading
Grading your coin is vital to getting its correct value as it helps you estimate the right listing price. Generally, a coin can fall into one of four main grades.
- Good Condition: A coin that falls into this grade has signs of serious wear and scratches. It is common to observe discolouration of the coin when examining it under a single light source. This grade is more like the lowest grade a coin can get and still be sellable.
- Fine Condition: This condition means that the coin shows fewer signs of wear. You can still see details like Liberty’s hair strands around her ear. Struck letters are more visible, and facial features remain intact.
- Extremely Fine Condition: This grade generally describes a coin’s best grade in circulated condition. Not only can you clearly see the details on the profiles, but you can also discern a roundness to them.
- Uncirculated Condition: Although there are several degrees of coins in uncirculated condition, it means the coin has never been spent. It retains its lustre, and you should observe no discolouration when examining the coin under a single light source. Details remain intact in pristine condition too.
1921 No Mint Morgan Silver Dollar Value
Even though it shouldn’t fetch much theoretically, a 1921 morgan silver dollar sold for as much as $32. Another sold for $41.99 with MS-60 grade. However, the higher the mint state, the more the 1921 morgan silver dollar value.
Quality |
Price |
MS 63 |
|
MS 64 |
|
MS 64 (with die break error)* |
|
MS 65+ |
|
MS 66 |
$775 |
*Certain errors add to a 1921 morgan silver dollar value.
1921-S Morgan Silver Dollar Value
A coin of this type sold for $36 even though it appears to be in excellent condition. Another in about uncirculated condition went for $51. The table below shows the examples of prices at which coins in different mint states sold.
Quality |
Price |
MS 63 |
|
MS 64+ |
$380 |
MS 65 |
$700 |
1921-D Morgan Silver Dollar Value
We mentioned how important it is to grade your coin before selling, and here is an example of a coin that could have sold for more if it was properly graded. On another note, a 1921-D morgan silver dollar sold for $26.76 in good condition.
Quality |
Price |
MS 63 |
|
MS 64+ |
|
MS 65 |
$500 |
MS 66 |
1921 Peace Silver Dollar Value
Due to low mintage, the 1921 peace silver dollar value is significantly higher than its morgan counterpart. One went for about $170 in very fine condition, while another sold for $430 (High relief) in uncirculated condition.
Quality |
Price |
MS 60 |
|
MS 63 |
|
MS 64 (High Relief) |
|
MS 65 |
$3,828 |
MS 66 |
$20,500 |
Best Places to Sell Your 1921 Silver Dollar
There are several good options for anyone looking to sell their 1921 silver dollar. Going to a pawn shop or local coin dealer is good, and an online platform is another excellent choice. People generally decide to go to a local coin dealer because they can have their coin graded and receive cash as payment.
However, there is a tendency to receive less than the actual worth of your coin. Therefore, you can try an online platform like eBay or Heritage Auctions as a better alternative. All you have to do is create an account on said platforms and list whatever you have for sale. People can then bid, and it goes to the highest bidder.
Wrapping Up
Most coin collectors refer to 1921 as the year of two different silver dollars. The reason is that the 1921 silver dollar was produced in two series: Morgan and Peace, with the latter replacing the former in the latter part of the year.
Both series have distinct features that differentiate them, with a significant value disparity. This is mainly because of mintage differences, with the Morgan series having a higher total amount than the Peace series.
