CoinTrackers.com has estimated the 1921 S Morgan Silver Dollar value at an average of $28, one in certified mint state (MS+) could be worth $600. (see details)...
- 1921 Morgan Silver Dollar Value Chart
- 1921 Morgan Silver Dollar Value Today
- 1921 Morgan Silver Dollar Value No Mint Mark
- 1921 Morgan Silver Dollar Value Today
- Silver Dollar Values Chart
Type: Morgan Silver Dollar Year: 1921 Mint Mark: No mint mark Face Value: 1.00 USD Total Produced: 44,690,000 Silver Content: 90% Silver Weight.7735 oz. Silver Melt: $20.68 Value: As a rough estimate of this coins value you can assume this coin in average condition will be valued at somewhere around $28, while one in certified mint state (MS+) condition could bring as much as $120 at auction. USA Coin Book Estimated Value of 1921 Morgan Silver Dollar is Worth $34 in Average Condition and can be Worth $56 to $189 or more in Uncirculated (MS+) Mint Condition. Click here to Learn How to use Coin Price Charts. Also, click here to Learn About Grading Coins. Therefore, Morgan had to recreate entirely new master dies for the 1921 issue. This is why the 1921 Morgan dollars look very different from the earlier issues. Almost 21.7 million Morgans were struck in San Francisco this year, the most silver dollars ever struck in a year in San Francisco. The Birth of America's beautiful Morgan Dollar – Minted from 1878-1904, and once again in 1921, the Morgan silver dollar is one of America's most popular collectible coins. To fully understand the history of these 90% silver beauties, we first have to go back to the era of our nation's great gold and silver rushes – particularly 1859. 1921 Morgan Silver Dollars The 1921 Morgan Silver Dollar is a popular coin for collectors all over the world. It was an important coin that helped usher in the westward expansion of the United States. There are unique characteristics about the 1921 Morgan Silver Dollar as compared to Silver coins that preceded them.
Type:Morgan Silver Dollar
Year:1921
Mint Mark: S
Face Value: 1.00 USD
Total Produced: 21,695,000 [?]
Silver Content: 90%
Silver Weight: .7735 oz.
Silver Melt: $21.05
Value: As a rough estimate of this coins value you can assume this coin in average condition will be valued at somewhere around $28, while one in certified mint state (MS+) condition could bring as much as $600 at auction. This price does not reference any standard coin grading scale. So when we say average, we mean in a similar condition to other coins issued in 1921, and mint state meaning it is certified MS+ by one of the top coin grading companies. [?].
Additional Info: Many of the 1921 Morgans are actually older Morgans and peace dollars melted down and re-coined. The Pittman Act, passed in 1918, authorized the melting and recoining of millions of silver dollars. See Wikipedia for more info on the Pittman act. Read more on the Pittman Act 1921 Peace Dollars generally have nice reeded edges as they are newer.
Numismatic vs Intrinsic Value:This coin in poor condition is still worth $6.95 more than the intrinsic value from silver content of $21.05, this coin is thus more valuable to a collector than to a silver bug. Coins worth more to a collectors may be a better long term investment. If the metal prices drop you will still have a coin that a numismatic would want to buy.
Want more info? Then read Coin Collecting Investment an article that details the benifits of coin collecting as a way to build wealth. Also learn how to properly store your coins.
Current silver melt value* for a 1921 S is $21.05 and this price is based off the current silver spot price of $27.22 This value is dynamic so bookmark it and comeback for an up to the minute silver melt value.
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- *list does not count the newer Presidential Dollars
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**When we say that 21,695,000, of these coins were produced or minted in 1921 this number doesn't always match the actual circulation count for this coin. The numbers come from the United States mint, and they don't reflect coins that have been melted, destroyed, or those that have never been released. Please keep that in mind.
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***Price subject to standard supply and demand laws, dealer premiums, and other market variations. Prices represent past values fetched at online auctions, estate sales, certified coins being sold by dealers, and user submitted values. While we wholeheartedly try to give honest price estimates there are many factors besides appearance, metal content, and rarity that help make up the coins overall value.Call or visit your local coin dealer for more information.
We use user submitted pictures please read that article if you are interested in adding your own.
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Mintage: 20,345,000
Finest Known: MS68 (NGC) MS67+ (PCGS)
Auction Record: $44,063 (MS67)
The 1921-D Morgan dollar holds the distinction of being the only Morgan dollar from the Denver Mint. The Morgan dollar had ceased production in 1904, two years before the Denver Mint began operations. More powerful coin presses that could handle the striking of the large silver dollar were installed at the Denver Mint specifically for assisting in meeting the Congressional mandate of the Pittman Act.
Denver used the same shallow profile dies that had been cut for the other two U.S. Mints, but had better luck at coaxing out an acceptable strike than the San Francisco Mint.
The Value of A 1921-D Morgan Dollar
The 1921-D Morgan dollar is a common date, as the massive mintage would suggest. It is readily available in most grades. Millions were likely melted in WWII to meet the wartime silver shortage, but it's safe to assume that far fewer 1921 Morgan dollars were melted in Denver than were melted than at San Francisco and Philadelphia. San Francisco and Philadelphia were West Coast and East Coast wartime production hubs. It only made sense to melt down locally-sourced Morgan silver dollars than take up valuable rail capacity shipping silver from Denver.
1921-D Morgan Dollar Price Guide
Circulated Grades| Very Fine | Extremely Fine | About Uncirculated |
|---|---|---|
| $25 | $32 | $40 |
| Mint State 61 | Mint State 63 | Mint State 65 | Auction Record (MS67) |
|---|---|---|---|
| $50 | $60 | $250 | $44,063 |
The information on this page does not constitute an offer to buy or sell the coin(s) referred to. Statistics are for Mint State coins only. Proof and prooflike examples of this issue may have greater or lesser 'finest known' and different record auction prices.
Grading Morgan Dollars
The value of a Morgan dollar depends on its rarity and condition. Like anything else, the better the coin's condition, the more it is worth. Prices show a substantial jump as their condition reaches mid-level uncirculated grades.
Determining the condition of a coin is called 'grading.' The coin grading scale, for reasons too lengthy to cover here, goes from 1 to 70. A Mint State 70 coin (MS70) is completely flawless, even when examined under 5x magnification. This level of detail was impossible with the coining technology of the 19th and early 20th centuries.
1921 Morgan Silver Dollar Value Chart
THE HIGH POINTS WHERE SIGNS OF WEAR FIRST APPEAR ON MORGAN DOLLARS
There are a few high points on the Morgan dollar that will be worn down first. Other than rarity, the amount of wear in these high places is what drives most of the value of the coin.
- Top of cheek
- Brow
- Hairline
- Hair over ear
- Curls over date
- Top of cap
- Eagle's breast
- Eagle's legs
- Eagle's head
- Right wingtip
Note that some mintages of Morgan dollars may have been weakly struck at the Mint. Morgan dollars minted at the San Francisco and New Orleans Mints are more likely to have weak strikes than those produced at Philadelphia. A weakly struck Morgan dollar may be missing some fine detail, but this does not mean that the coin is worn. Be aware if the coin you are looking at is from a date known for weak strikes.
PRIME FOCAL AREAS ON MORGAN DOLLARS
There are certain places on a Morgan dollar where damage is far more noticeable. Damage in these 'focal areas' will affect the grade a Morgan dollar achieves, more than damage in other places.
- Face and neck of Liberty
- The field in front of Liberty's face
- Body and wings of the eagle
- Fields to sides of wings and above eagle's head
1921 Morgan Silver Dollar Value Today
Very Fine
A VF25 Very Fine Morgan dollar will have light to moderate wear. Wear will be greater on the high points of the coin. Bag marks or circulation damage may be present in prime focal areas, keeping this coin from a higher grade. High points will show some flattening and loss of detail, but all major and many minor details are still present. Most or all mint luster will be gone.
OBVERSE
Liberty's hair will show flatness along the hairline above the forehead, over the ear, and down next to the date. Liberty's cheek might show moderate abrasion. The top of Liberty's cap will show wear. The cotton bolls in Liberty's crown will have some minor detail worn away. The cotton leaves will also exhibit flatness.
REVERSE
The top of the eagle's breast and legs will be worn smooth. The head and neck will be worn, but not to the same extent. The talons will be flat. The leaves of the wreath will be distinct, but with many showing wear. All wing feathers will be present, but some will be missing detail. The right wingtip will be worn.
Extremely Fine
The XF45 Extremely Fine Morgan dollar will exhibit light wear overall, focused on the usual high points. Nearly all minor details are present and well defined. It might display up to half of the original mint luster. Again, marks or circulation damage may prevent this coin from earning a higher grade.
OBVERSE
Liberty's hairline is full, with some flatness on the high points above the eye and ear. The hair retains fine strands, giving the face a more detailed appearance. Mild wear has taken the luster from Liberty's cheek, but it retains its full shape. The cotton bolls are beginning to exhibit minor details. Flatness is evident on the top of the bolls and the edges of the cotton leaves. The high point of the cap is flat.
REVERSE
Feathers are beginning to show on the eagle's breast. The head and neck are more detailed, but retain some flatness. The legs show major details on the sides, but the tops are worn. The talons are slightly flat. Most wing feathers are well-defined. The right wing shows wear across 25% of the wing. The edge of the left wing will show some wear.
About Uncirculated
1921 Morgan Silver Dollar Value No Mint Mark
An AU55 About Uncirculated Morgan dollar will present very light friction or wear, but only on the high points. Mint luster should be complete, or nearly so. Scratches and marks should be small and unobtrusive. An AU55 Morgan dollar should present positive eye appeal, even when compared to low-grade Mint State coins.
1921 Morgan Silver Dollar Value Today
OBVERSE
Slight rubbing or friction may be seen at the regular high points. Liberty's hair will display high detail. The cotton and wheat in the hairband will have full detail. The cheek may show impaired or missing luster.
REVERSE
The reverse should present full detail, aside from faint rubbing on the high points of the eagle (the head, breast, top of the legs, and talons.)
Mint State Morgan Dollars
Mint State (Uncirculated) coins are those that remained in sealed canvas Mint bags before being acquired by a coin collector. As a rule, these coins will have complete mint luster, and no 'post-Mint' damage. However, when talking about Mint State coins, 'uncirculated' does not mean 'undamaged.'
That last detail is important, because while Mint State Morgan dollars were never paid out (people preferred paper silver certificates), they could still see substantial damage from being slung around in the giant canvas bags the same way bags of quarters, nickels, dimes, and cents were. The damage coins receive from banging into one another is called 'bag marks.'
No matter how beat up a Morgan dollar looks, if there is no circulation wear and it retains mint luster, it will grade as Mint State. This is why Mint State coins are graded from MS60 (worst) to MS70 (perfect). Because Morgan dollars were handled like any other circulation coin, there will never be a perfect MS70 Morgan dollar
Mint State 61
A MS61 Mint State Morgan dollar will have substantial mint damage. Much of this damage will be in prime focal areas (see 'What Are The Prime Focal Areas On Morgan Dollars', above.) Many large and small bag marks, and even gouges make this coin unattractive. It is readily apparent when a coin is going to grade as low as MS61. Coin collectors will not waste money having such a coin professionally graded, unless it is a rare mintage.
Mint State 63
Mint State MS63 (and MS64) Morgan dollars are more attractive than lower grades, with good strikes and mint luster. They will still have enough marks or scuffs to be distracting. Some of these will be in prime focal areas. None will be heavy or particularly detracting. MS63 and MS64 are the most popular grades of Morgan dollars. They're nicer than the MS60-MS62 coins, and not nearly as expensive as MS65 ones.
Mint State 65
A Mint State 65 Morgan dollar is also known as 'Gem Uncirculated,' with good reason. It will have a sharp strike, and full, attractive luster. It will show scattered, light marks, with none in the prime focal areas. The eagle's breast or Liberty's cheek may display light friction from the time the coin spent in a bulk canvas bag in Treasury vaults The far higher attractiveness of a MS65 Morgan dollar explains the large difference in price when compared to a MS63 of the same date.
Very Fine
A VF25 Very Fine Morgan dollar will have light to moderate wear. Wear will be greater on the high points of the coin. Bag marks or circulation damage may be present in prime focal areas, keeping this coin from a higher grade. High points will show some flattening and loss of detail, but all major and many minor details are still present. Most or all mint luster will be gone.
OBVERSE
Liberty's hair will show flatness along the hairline above the forehead, over the ear, and down next to the date. Liberty's cheek might show moderate abrasion. The top of Liberty's cap will show wear. The cotton bolls in Liberty's crown will have some minor detail worn away. The cotton leaves will also exhibit flatness.
REVERSE
The top of the eagle's breast and legs will be worn smooth. The head and neck will be worn, but not to the same extent. The talons will be flat. The leaves of the wreath will be distinct, but with many showing wear. All wing feathers will be present, but some will be missing detail. The right wingtip will be worn.
Extremely Fine
The XF45 Extremely Fine Morgan dollar will exhibit light wear overall, focused on the usual high points. Nearly all minor details are present and well defined. It might display up to half of the original mint luster. Again, marks or circulation damage may prevent this coin from earning a higher grade.
OBVERSE
Liberty's hairline is full, with some flatness on the high points above the eye and ear. The hair retains fine strands, giving the face a more detailed appearance. Mild wear has taken the luster from Liberty's cheek, but it retains its full shape. The cotton bolls are beginning to exhibit minor details. Flatness is evident on the top of the bolls and the edges of the cotton leaves. The high point of the cap is flat.
REVERSE
Feathers are beginning to show on the eagle's breast. The head and neck are more detailed, but retain some flatness. The legs show major details on the sides, but the tops are worn. The talons are slightly flat. Most wing feathers are well-defined. The right wing shows wear across 25% of the wing. The edge of the left wing will show some wear.
About Uncirculated
1921 Morgan Silver Dollar Value No Mint Mark
An AU55 About Uncirculated Morgan dollar will present very light friction or wear, but only on the high points. Mint luster should be complete, or nearly so. Scratches and marks should be small and unobtrusive. An AU55 Morgan dollar should present positive eye appeal, even when compared to low-grade Mint State coins.
1921 Morgan Silver Dollar Value Today
OBVERSE
Slight rubbing or friction may be seen at the regular high points. Liberty's hair will display high detail. The cotton and wheat in the hairband will have full detail. The cheek may show impaired or missing luster.
REVERSE
The reverse should present full detail, aside from faint rubbing on the high points of the eagle (the head, breast, top of the legs, and talons.)
Mint State Morgan Dollars
Mint State (Uncirculated) coins are those that remained in sealed canvas Mint bags before being acquired by a coin collector. As a rule, these coins will have complete mint luster, and no 'post-Mint' damage. However, when talking about Mint State coins, 'uncirculated' does not mean 'undamaged.'
That last detail is important, because while Mint State Morgan dollars were never paid out (people preferred paper silver certificates), they could still see substantial damage from being slung around in the giant canvas bags the same way bags of quarters, nickels, dimes, and cents were. The damage coins receive from banging into one another is called 'bag marks.'
No matter how beat up a Morgan dollar looks, if there is no circulation wear and it retains mint luster, it will grade as Mint State. This is why Mint State coins are graded from MS60 (worst) to MS70 (perfect). Because Morgan dollars were handled like any other circulation coin, there will never be a perfect MS70 Morgan dollar
Mint State 61
A MS61 Mint State Morgan dollar will have substantial mint damage. Much of this damage will be in prime focal areas (see 'What Are The Prime Focal Areas On Morgan Dollars', above.) Many large and small bag marks, and even gouges make this coin unattractive. It is readily apparent when a coin is going to grade as low as MS61. Coin collectors will not waste money having such a coin professionally graded, unless it is a rare mintage.
Mint State 63
Mint State MS63 (and MS64) Morgan dollars are more attractive than lower grades, with good strikes and mint luster. They will still have enough marks or scuffs to be distracting. Some of these will be in prime focal areas. None will be heavy or particularly detracting. MS63 and MS64 are the most popular grades of Morgan dollars. They're nicer than the MS60-MS62 coins, and not nearly as expensive as MS65 ones.
Mint State 65
A Mint State 65 Morgan dollar is also known as 'Gem Uncirculated,' with good reason. It will have a sharp strike, and full, attractive luster. It will show scattered, light marks, with none in the prime focal areas. The eagle's breast or Liberty's cheek may display light friction from the time the coin spent in a bulk canvas bag in Treasury vaults The far higher attractiveness of a MS65 Morgan dollar explains the large difference in price when compared to a MS63 of the same date.
Mint State 66
MS66 Morgan dollars are rare, even when compared to a MS65. They will have a clean, sharp strike. The MS66 Morgan dollar boasts a pleasing, full original luster. It has very few, very light marks or imperfections that barely detract from the coin's very attractive appearance.
Silver Dollar Values Chart
