1921 Silver Dollar Coin Value Lookup (Morgan & Peace)

If you are interested in old coins or collecting, the 1921 Silver Dollar is definitely one to check out. This year saw the production of both the Morgan and Peace Silver Dollars, making it a special time in American coin history. These coins are popular among collectors, and their values can vary greatly—from just a few dollars to thousands. Knowing how to determine the value of these coins can help you turn what seems like a simple piece of silver into something much more valuable.

In this article, we will dive into the history of the 1921 Silver Dollar, discuss the important features of the Morgan and Peace coins, and explain what factors affect their value. We will also provide tips on how to check the condition of your coin and where you might sell it if you have one.

The History of the 1921 Silver Dollar

Morgan Silver Dollar: A Comeback After 17 Years

The Morgan Silver Dollar was made between 1878 and 1904. The coin is named after its designer, George T. Morgan, who created an image of Lady Liberty on the front side of the coin. The back side features an American eagle holding arrows and an olive branch. Morgan Dollars are made of 90% silver and 10% copper, weighing about 26.73 grams.

In 1921, after being off the market for 17 years, the U.S. Mint started making the Morgan Silver Dollar again. This was due to the Pittman Act of 1918, which required the melting of many old silver dollars and the need to mint new ones. Because of this, 1921 became the last year for the Morgan Silver Dollar. Nearly 86 million coins were minted that year, making it one of the most common years for Morgan Dollars.

The Birth of the Peace Silver Dollar

While 1921 was the final year for the Morgan Dollar, it also marked the start of the Peace Silver Dollar. The Peace Dollar was created to celebrate the end of World War I and show America’s wish for peace. The design was made by Anthony de Francisci, and like the Morgan Dollar, it also contains 90% silver and 10% copper.

The first Peace Dollars made in 1921 had a high relief, giving them a unique, three-dimensional look. However, this design was hard to create, and by 1922, the relief was made lower to make minting easier. These high-relief 1921 Peace Dollars are rarer and more valuable than those made in later years.

Key Differences Between the 1921 Morgan and Peace Dollars

Even though both coins were made in 1921, they have different designs and levels of rarity:

• Morgan Dollar: This coin shows Lady Liberty wearing a cap with the word “Liberty.” The back side displays an eagle with its wings spread. The Morgan Dollar is thicker and heavier than the Peace Dollar.
• Peace Dollar: This coin shows Lady Liberty wearing a crown of rays, representing peace. The back side shows an eagle resting on a rock, with the word “Peace” below.

In general, 1921 Morgan Silver Dollars are much more common than 1921 Peace Dollars, especially the high-relief versions, making the Peace Dollars from that year very sought after.

What Determines the Value of 1921 Silver Dollars?

The value of a 1921 Morgan or Peace Dollar depends on several factors, such as rarity, condition, mintmark, and historical significance. Here’s a breakdown of what affects the value of these coins:

1. Rarity

Rarity is one of the key factors in determining a coin’s value. Although many 1921 Morgan Dollars were made, the Peace Dollar is much rarer, especially the high-relief versions from 1921. Fewer of these high-relief coins were produced, making them more desirable to collectors.

2. Mintmarks

The U.S. Mint produced the 1921 Silver Dollars at three different locations: Philadelphia (no mintmark), Denver (D), and San Francisco (S). The mintmark shows where the coin was made and can be found on the back side. Coins made in San Francisco (S) or Denver (D) are usually more valuable than those made in Philadelphia because fewer were made.

3. Condition (Grading)

The condition of a coin, also known as its grade, plays a big role in its value. Coins are graded on a scale from Poor (P-1) to Mint State (MS-70). A coin in Mint State condition has little to no wear and shines like new. In contrast, a heavily worn coin is worth much less.

Here’s a basic grading scale:

• Poor (P-1): Very worn and hard to identify.
• Good (G-4): Worn but still recognizable.
• Fine (F-12): Moderate wear, key details visible.
• Very Fine (VF-20): Light wear, sharp details.
• Extremely Fine (EF-40): Minimal wear, strong details.
• Mint State (MS-60 to MS-70): No wear, perfect or near-perfect condition.

4. Historical Significance

The 1921 Peace Dollar is significant because it was the first of its kind and symbolizes peace after World War I. This historical background adds to its value, especially for collectors interested in the story behind the coin.

5. Silver Content

Both the 1921 Morgan and Peace Dollars contain 0.7734 troy ounces of silver. The value of the silver itself can influence the coin’s price, especially when silver prices are high. However, for rare or high-grade versions, the collectible value usually far exceeds the silver value.

Value of the 1921 Morgan Silver Dollar

Since many Morgan Silver Dollars were produced in 1921, their value can change a lot based on their condition and mintmark. Here’s a general guide:

• Circulated 1921 Morgan Silver Dollar: Coins in lower grades (G-4 to F-12) usually sell for $25 to $50, mainly because of their silver content.
• Uncirculated or Mint State (MS-60 to MS-64): Coins in better condition can be worth between $50 and $200, depending on the grade.
• Higher Grade (MS-65 and above): High-grade 1921 Morgan Silver Dollars, especially from the San Francisco Mint, can go for between $200 and $1,000, and some rare examples can sell for even more.

Value of the 1921 Peace Silver Dollar

The 1921 Peace Dollar, especially the high-relief version, is much rarer and therefore more valuable. Here’s a rough estimate of its value based on condition:

• Circulated 1921 Peace Dollar: Coins with noticeable wear typically range from $80 to $200.
• Uncirculated or Mint State (MS-60 to MS-64): These coins can be worth between $300 and $1,200.
• Higher Grade (MS-65 and above): High-grade 1921 Peace Dollars can command prices from $2,000 to $50,000 or more, especially the high-relief versions in pristine condition.

How to Determine the Value of Your 1921 Silver Dollar

If you think you have a 1921 Silver Dollar, it’s important to know how to figure out its value. Here are some steps to help you evaluate the coin:

Step 1: Identify the Coin Type and Mintmark

First, determine whether you have a Morgan or Peace Dollar. You can tell by looking at their designs. The Morgan Dollar has Lady Liberty with a cap, while the Peace Dollar shows Lady Liberty with rays around her head. Check the mintmark on the back to find out where it was made (no mintmark for Philadelphia, D for Denver, and S for San Francisco).

Step 2: Check the Condition

Look closely at your coin. If it has clear details and little wear, it likely has a higher grade and is worth more. Coins that are heavily worn will be closer to their silver content value.

Step 3: Get a Professional Appraisal

If you have a valuable coin, consider getting it graded by a professional service like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC). These services will verify the coin’s authenticity and provide a grade that helps determine its market value.

Step 4: Keep Track of Silver Prices

Since both Morgan and Peace Silver Dollars have a good amount of silver in them, the silver market can affect their value. Make sure to keep an eye on current silver prices, as they can change often.

Where to Sell Your 1921 Silver Dollar

After figuring out the value of your coin, you may want to sell it. Here are a few ways to do that:

• Coin Dealers: Good coin dealers can offer you a fair price based on the coin’s condition, rarity, and silver content.
• Online Auctions: Websites like eBay or Heritage Auctions let you sell coins to collectors worldwide.
• Coin Shows: Attending a coin show can connect you with buyers and sellers, giving you a chance to sell your coin for a better price.
• Grading Services: If you have your coin professionally graded, it can increase its value, especially if it gets a high grade.

Conclusion

The 1921 Silver Dollar, whether it is a Morgan or Peace Dollar, is not just an ordinary coin; it is a valuable piece of American history. Knowing how to determine its worth—by checking its condition, rarity, and mintmark—can help you assess its value. For collectors, the 1921 Peace Dollar, especially the high-relief version, is a true treasure. Whether you keep these coins as a part of your collection or plan to sell them, they remain important symbols of U.S. craftsmanship and heritage.

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