Two different types of U.S. silver dollars were minted in 1921: the Morgan dollar and the Peace dollar.
- Circulated condition: In average circulated condition, a 1921 Morgan dollar typically sells for between $30 and $50. According to the NGC Price Guide, as of August 2025, a 1921 Morgan Dollar in circulated condition is worth between $42 and $45.
- Mint State (Uncirculated) condition: Values increase dramatically for higher grades, with pristine uncirculated examples (Mint State, or MS) selling for much higher prices.
– According to the NGC Price Guide, as of August 2025, a Morgan Dollar from 1921 in pristine, uncirculated condition can sell for as much as $17,500.
– [NGC estimates] range from $55 for MS60 to $17,500 for MS67.
- Mint marks:
– Philadelphia (no mint mark): The most common issue, typically under $30 in circulated condition, [values jump] significantly in grades of MS65 and above.
– Denver (D): Less common than Philadelphia issues. Values rise considerably in uncirculated grades, with MS68 specimens reaching over $44,000 at auction.
– San Francisco (S): Slightly less common than Denver issues, and desirable in low mint state grades, with [auction records exceeding] $19,000.
- Circulated condition: Generally sell for $100 or more in low to average condition.
– According to the NGC Price Guide, as of August 2025, a Peace Dollar from 1921 in circulated condition is worth between $100 and $525.
- Mint State (Uncirculated) condition: The 1921 Peace dollar, being a lower mintage, is generally more valuable than the 1921 Morgan dollar, even in lower grades.
– According to the NGC Price Guide, as of August 2025, 1921 PEACE Silver Dollars in pristine, uncirculated condition sell for as much as $67,500.
– [PriceCharting estimates] for uncirculated coins range from $602.62 for MS62 to $6,835.80 for MS66.
- Mint mark: All 1921 Peace dollars were minted at the Philadelphia Mint and have no mint mark.
In summary, the value of a 1921 US dollar coin depends on its type (Morgan or Peace) and its condition. Peace dollars are generally more valuable due to their lower mintage numbers. Always consult a professional coin grading service for an accurate assessment of your coin’s value, especially for higher grades or potential errors.
What is special about the 1921 silver dollar?
From my experience, 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.