The 1921 Silver Dollar, particularly the Morgan and Peace series, holds a significant place in U.S. coin history. Coin collectors value these coins not just for their historical importance but also for their rarity.
Here, we’ll explore what makes the 1921 Silver Dollar so special and why it’s one of the most sought-after coins in numismatics.
Why is the 1921 Silver Dollar Considered Rare?
1. End of the Morgan Dollar Era
The 1921 Silver Dollar is unique as it represents the end of the Morgan Dollar era and the beginning of the Peace Dollar era. This transition period marks an essential moment in U.S. coin history, making the 1921 Morgan Dollar a highly valued collectible.
2. Limited Production of High-Relief Peace Dollars
The Peace Dollar series began in 1921 with a unique high-relief design. However, producing high-relief coins proved challenging, so only a limited number were made before the design was changed to a lower relief in 1922. This limited production makes the 1921 high-relief Peace Dollar exceptionally valuable to collectors.
3. Rare Mint Mark Variations
The 1921 Morgan Dollar was minted in three places: Philadelphia (no mint mark), Denver (D), and San Francisco (S). Coins from the San Francisco Mint, especially those in higher grades, are much rarer and more valuable. The scarcity of 1921-S Morgan Dollars, particularly in well-preserved conditions, adds to their value.
4. Impact of the Pittman Act
The Pittman Act, passed in 1918, led to the melting of millions of silver dollars to support World War I efforts. This act significantly reduced the number of Morgan Dollars in circulation, making surviving coins,
especially the 1921 editions, historically important. Interestingly, the silver in 1921 Silver Dollars came from these melted coins, giving them an additional layer of historical significance.
5. Value of High-Grade Coins and Auction Records
High-grade 1921 Silver Dollars, especially those graded MS-65 and above, are extremely rare. Some 1921 Morgan Dollars have sold for hundreds of thousands of dollars at auction.
For example, a 1921 Morgan Dollar graded MS-68 sold for $660,000 in 2021. Coins of this quality are valued both for their rarity and their potential investment value.
1921 Silver Dollar Values by Mint and Grade
| Coin Type | Mint Mark | MS-60 | MS-63 | MS-65 | MS-67 |
|---|---|---|---|---|---|
| 1921 Morgan Dollar | No Mint | $40 | $58 | $150 | $13,500 |
| 1921 Morgan Dollar | D | $47 | $74 | $355 | $16,000 |
| 1921 Morgan Dollar | S | $47 | $80 | $750 | $25,000 |
| 1921 Peace Dollar | No Mint | $285 | $490 | $1,800 | $84,500 |
These values highlight how the mint location and coin grade significantly impact the coin’s worth.
The 1921 Silver Dollar is a truly special piece of U.S. history. From its role in ending the Morgan Dollar series to the introduction of the Peace Dollar, each detail contributes to its high value and rarity.
The unique design changes, limited production, and historical events like the Pittman Act all play a part in making the 1921 Silver Dollar a collector’s dream.
High-grade specimens can reach exceptional prices, making them not only valuable historical pieces but also wise investments.
1. Why is the 1921 Silver Dollar important in U.S. history?
The 1921 Silver Dollar marks the end of the Morgan Dollar series and the start of the Peace Dollar series, symbolizing a significant change in U.S. coin design.
2. What makes the 1921 Peace Dollar more valuable than other years?
The 1921 Peace Dollar was made in a high-relief design that was difficult to produce, so only a limited number were made, increasing its rarity.
3. Are 1921 Silver Dollars rare because of the Pittman Act?
Yes, the Pittman Act led to the melting of millions of silver dollars, which lowered the number of Morgan Dollars available, especially from 1921.
4. Which 1921 Morgan Dollar is the rarest?
The 1921 Morgan Dollar with the “S” mint mark from San Francisco is rarer, particularly in higher grades.
5. Can a high-grade 1921 Silver Dollar be a good investment?
Yes, high-grade 1921 Silver Dollars, especially those graded MS-65 or higher, can be valuable investments and have sold for high amounts at auctions.
