The value of a 1921 silver dollar depends on several factors, primarily its type (Morgan or Peace dollar), mint mark, and condition.
- The 1921 Morgan dollar was minted in large quantities, with over 86 million coins produced across the Philadelphia (no mint mark), San Francisco (“S”), and Denver (“D”) mints.
- Average circulated condition: Typically worth a small premium over its silver melt value, generally ranging from $30 to $50.
- Higher grades (Uncirculated/Mint State): Values increase significantly. For example, a 1921 Morgan in MS65 grade could be worth $215, while an MS67 could fetch $11,500.
- Mint marks: While not a dramatic difference for 1921 Morgans, those from the San Francisco (“S”) mint may be slightly more valuable than the Philadelphia issues (no mint mark) due to slightly lower mintage numbers.
- Error coins: Some 1921 Morgan dollars have errors like the “thorn head” (worn dies causing a thorn-like appearance on Lady Liberty’s head) which can sell for hundreds or even thousands of dollars depending on the condition. Off-center strikes and missing “S” in TRUST errors can also be valuable, ranging from $150 to $1500 or higher.
- The 1921 Peace dollar was minted in lower numbers than any release in the series until 1927.
- Average circulated condition: Generally sell for $100 or more, depending on condition/grade.
- Uncirculated/Mint State: Can be worth hundreds of dollars or more.
- High relief: All 1921 Peace dollars are considered high-relief, which is a unique feature but not a rarity factor as all coins of that year share it.
- Limited mintage: As the first year of the Peace dollar series with a relatively low mintage, 1921 Peace dollars are considered popular collector’s items.
- Melt Value: The base value of a silver dollar is determined by the current price of silver, as these coins are 90% silver.
- Condition/Grade: The condition of the coin plays a significant role in its value. Professional grading services like NGC and PCGS can certify a coin’s condition and significantly increase its value.
- Mint Mark: Indicates where the coin was minted (Philadelphia, San Francisco, or Denver for Morgan dollars).
- Errors and Varieties: Rare minting errors or unique varieties can drastically increase a coin’s value.
Note: For the most accurate valuation of your 1921 silver dollar, it is recommended to consult a professional coin dealer or utilize a reputable grading service.
What is special about the 1921 silver dollar?
1921 was a very important year for American silver coinage. The United States Mint was ordered to create a silver dollar coin that would commemorate the end of World War One, and the result was the Peace dollar.
What makes a 1921 Peace dollar valuable?
Great question! There are four main factors that determine what makes a 1921 silver dollar rare: limited production numbers, transition from Morgan to Peace design, low survival rates, and varieties and minting errors.