Coin collectors are constantly looking for new and unusual coins to add to their collection. In addition, they sometimes search for coins from a particular time or country to complete their collection. Morgan Silver Dollar coins are very popular among coin collectors, who cherish them as prized possessions.
However, the 1921 S Morgan Silver Dollar is a type of coin among the Morgan Silver Dollar series that was minted in huge numbers. Here, we will discuss the value of a 1921 S Morgan Silver Dollar and what makes it unique. You will also learn to distinguish the different types of Morgan silver dollars and how they are graded.
So, without much ado, let’s get started!
Morgan Silver Dollar Coins
Named after George T. Morgan, the coin designer, Morgan Silver Dollars are considered a popular collectible among coin collectors. The coins were minted constantly between 1878 and 1904. It was later revived in 1921 due to the meltdown of all the prior silver dollar coins during World War I.
Although the coins mostly went unused and were stored in government vaults, the U.S. mint made efforts to maximize their use by creating new relief coin dies. Among them is the 1921 S Morgan silver dollar, which is quite common, with around 21.6 million coins minted.
Even though most of these Morgan Silver Dollar coins were melted down, there are plenty available on the market for coin collectors and enthusiasts to add to their collection today.
Specifications And Design Of 1921 S Morgan Silver Dollar Coin
The 1921 S Morgan Silver Dollar Coin has a composition of 90% silver and 10% copper. It has a mass of 26.73g, a thickness of 2.4mm, and a diameter of 1.5 inches.
The front of the coin has the words “E Pluribus Unum” engraved on it. The phrase translates to “Out of Many, One,” which refers to the United States of America. There are 13 stars on either side of the phrase representing the 13 colonies. It also has the left profile view of Lady Liberty.
At the back, you will find a bald eagle with its wings spread out and glancing to the left, carrying an olive branch and arrows in its claws, which symbolizes peace and war. The back also has the engravings of the ‘United States of America,’ ‘One Dollar,’ and ‘In God We Trust.’
1921 S Silver Dollar Value
Since 1921 S Morgan silver dollar has had a regular strike that made the overall impressions soft. The 1921 S Morgan dollars rarely have extremely prooflike surfaces of the earlier Morgan silver dollars. Since millions of these coins were minted, their rarity has reduced.
Since most of the coins went into storage soon after minting, plenty of them are available in uncirculated form. Hence, the 1921 S silver dollar value mainly depends on the wear of the brow, hairline, curls over the date, top of the cheek, top of the cap, hair over the ear, Eagle’s breast, right wingtip, Eagle’s legs, and the Eagle’s head.
Another thing that determines the value is the strike on the coins. Most coins minted in Philadelphia have a decent strike, but the coins struck in New Orleans, Denver, and San Francisco have weaker strikes, leaving them with overall soft impressions.
The current value of a 1921 S Morgan Silver Dollar varies according to its rarity. You can buy the coins in circulated condition for anywhere between $28 and $600. Some uncirculated coin versions in perfect condition can be worth about $25,000.
How Is A 1921 Morgan Silver Dollar Graded?
The rarity of a 1921 Morgan Silver Dollar coin depends on its condition and grading. The coin grading scale has a range of 1 to 70. If a coin is in excellent condition, the greater its value. An uncirculated coin in good condition will have more value than a circulated one.
A Mint State 1 (MS1) coin will have a highly worn-out surface, whereas an MS70 will have a pristine condition with details that will be retained even under 5x magnification. The closest a Morgan dollar could get to MS69 was because of the technology of those times.
The grading of the 1921 S Morgan silver dollar is based on the damage to certain focal parts of the coin, including the face of the Liberty; the body of the Eagle; the front of Liberty’s face; the sides of the wings; the neck of Liberty; the space above the Eagle’s head; and the wings of the Eagle.
It is also based on specific high points, including the hairline, top of the cap, brow, top of the cheek, hair over the ear, curls of the date, and Eagle’s legs, head, right wingtip, and breast.
The following is the grading used for the Morgan silver dollar.
MS61 Morgan Silver Dollars
The Mint State 61 Morgan silver dollar coin will have significant damage to the focal points of the coin. It may also have several bag marks of big and small sizes.
As the coins don’t have a certain level of appeal, professional grading is not made for a coin with damage of this level if it’s not a rare one.
MS63 and MS64 Morgan Dollars
The Morgan silver dollar coin with mint state 63 and 64 gradings has considerable mint luster and good striking. These are the most popular Morgan silver dollar grades.
Although they will still have some level of marks and scratches, they are more appealing than other lower-grade Morgan silver coins. The focal points will show most of the damage. However, it is not crucial and makes them more attractive.
MS65 Morgan Silver Dollar
Also known as Gem Uncirculated, Morgan silver coins with mint state 65 gradings have a complete luster with sharp strikes. However, it may have slight scratches and marks here and there on the focal points.
It may also have bag marks from the treasury vaults on the Liberty’s cheek and Eagle’s breast. However, it is much more appealing than MS61, MS63, and MS64, which explains its higher price.
MS66 Morgan Silver Dollars
Morgan Silver Dollar coins with mint state 66 gradings are rare with a sharp strike. It has little to no marks, with very light imperfections that are barely visible.
It also has a complete luster which is highly appealing. Hence, it has a very high value compared to the above mint state Morgan silver dollar coins.
Very Fine Grading
A Morgan silver dollar with a grade of VF25 will have light to moderate wear. The coin’s high points will wear more with a loss of details and mild flattening. However, some circulation damage might occur at the focal points of the coins.
You might see moderate abrasion in the cheek of the Liberty and flatness of hair over the ear, above the forehead, next to the date, and in the cotton leaves. You might also see the wearing of Liberty’s cap and bolls in the crown. It may also have bag marks that result from being knocked around with other coins.
You can also expect to see a loss of luster. However, you can find most of the major and minor details intact.
Extremely Fine Grading
Extremely fine Morgan dollar with a grading of XF45 will have light wear typically found around the high points. It will have some flatness in the area above Liberty’s eye and ear, the high point of the cap, the edges of the cotton leaves, the top of the bolls, the head and neck of the Eagle, and the top of the legs of the Eagle.
It will also have part of the luster from the original mint. The majority of the details will remain well-defined and intact. However, it might have damage and marks due to circulation.
About Uncirculated Coins
An About Uncirculated Morgan silver coin with a grade of AU55 will have very light wear on the coin’s high points. In addition, it will have slight, unobtrusive scratches and nearly full original mint luster, with very little missing glow on the cheek.
There might be slight rubbing on the top of the legs, talon, head, and breast of the Eagle. All the high and focal points will have great detail.
Uncirculated Morgan Dollar (Mint State)
An uncirculated Morgan silver dollar coin comes in a sealed canvas mint bag. These are also known as Mint State coins and remain in the mint bags until coin collectors own them.
Since these are entirely uncirculated coins, they will have the full luster of the original mint and will not have any circulation wear whatsoever. However, it might be slightly damaged due to being in the mint bags, but this will not reduce its grading value.
What Makes A 1921 Silver Dollar Rare?
The delay in the approval of Peace Silver Dollars was one of the primary reasons for the excessive minting of Morgan silver dollars in 1921. Once this coin was approved in December, its design implementation and minting began, leading to the Morgan silver dollars getting locked into vaults.
Since the Peace Silver Dollar got delayed approval and its minting began in late December 1921, only a few coins are available. This low production is the reason for its rarity and high value compared to the Morgan silver dollar. Another reason for its high value is the mintage numbers on the Peace silver dollar coins.
1921 S Morgan Silver Dollar Errors
Significant errors on 1921 S Morgan silver dollars are pretty rare. One of the occasional errors includes a 1921 S Morgan dollar that was struck 20 percent off-center. It had an MS63 grading and was sold for $16,450 at the 2017 FUN auctions. It also had the San Francisco Mint mark and the full date.
Some of the other errors in 1921 S Morgan Silver Dollars include the following:
- Rim Defect Error includes errors in the rims of the coins. Well, you may often encounter several errors on the edges.
- Lamination Error occurs in the outer skin or the lamination portion of the coin that might be missing.
- Missing or Partial Numbers Error is when you might encounter coins with missing portions of letters and words.
- Curved Clip Error occurs when the edge or lip of the coin has a curved clip that creates a dent-like dip into the coin.
- Blank Planchet Error is when the coin doesn’t have anything on it. It is a blank coin with no images, dates, or inscriptions.
Which factors determine the value of a 1921-S Silver Dollar?
There are three factors that affect the value of a 1921-S Silver Dollar. They are its grade, condition, and rarity.
How much is a 1921-S silver dollar worth in good condition?
If your 1921-S Silver Dollar is in good condition, you can expect to receive between $10,000 and $20,000 for it. This is because it is extremely rare, and few of them are in good condition. If you have a 1921-S silver dollar in good condition, don’t expect to get rid of it anytime soon. Instead, you should consider investing in a coin-collecting company and storing it there until the market recovers.
Is your 1921-S silver dollar in good condition?
If your 1921-S Silver Dollar is in good condition, you can expect to receive between $10,000 and $20,000 for it. This is because it is extremely rare, and few of them are in good condition. If you have a 1921-S silver dollar in good condition, don’t expect to get rid of it anytime soon. Instead, you should consider investing in a coin-collecting company and storing it there until the market recovers.
How much is a 1921-S silver dollar worth in fair condition?
If your 1921-S Silver Dollar is in fair condition, you can expect to receive between $2,000 and $3,000 for it. This is because it is rare, but most of the coins are in poor condition. If your 1921-S Silver Dollar is in fair condition, you can either sell it or hold onto it until the value goes up. If you decide to sell it, make sure you select a reputable dealer. You can also store it in a coin-collecting company and wait for the value to go up.
Is your 1921-S silver dollar in fair condition?
If your 1921-S Silver Dollar is in fair condition, you can expect to receive between $2,000 and $3,000 for it. This is because it is rare, but most of the coins are in poor condition. If your 1921-S Silver Dollar is in fair condition, you can either sell it or hold onto it until the value goes up. If you decide to sell it, make sure you select a reputable dealer. You can also store it in a coin-collecting company and wait for the value to go up.
How much is a 1921-S silver dollar worth in poor condition?
If your 1921-S Silver Dollar is in poor condition, you can expect to receive between $50 and $100 for it. This is because the coin is rare, but most of them are in poor condition. If your 1921-S Silver Dollar is in poor condition, don’t expect to get rid of it for at least a few years. It might be worth something in the future if the market improves.
Final Word
The 1921-S Silver Dollar is a rare and beautiful coin. It was only minted in that year, and there are far less of them in circulation than other coins. This is why they are so valuable and sought after by collectors. Their high price is also due to their beautiful design. If you have a 1921-S Silver Dollar, you can use this article to learn its value and see if it’s worth anything. Keep in mind that prices are subject to fluctuate depending on supply and demand, but this article should give you a good idea of where your coin stands.
