The year 1921 holds a unique and fascinating place in American numismatic history. It was a pivotal year for coin production, marked by significant changes and the minting of several iconic coin types. Consequently, the 1921 coin value can vary dramatically, influenced by factors such as the specific coin type, its mintmark, and its condition or grade. This comprehensive guide delves into the specifics of various 1921 coins, offering insights into what makes them valuable to collectors today.
Understanding the Factors Influencing 1921 Coin Value
Before examining individual coin types, it’s crucial to understand the universal factors that dictate a coin’s market price. When assessing any 1921 coin value, three primary elements come into play:
- Condition (Grade): This is arguably the most critical factor. Coins are graded on a scale from Poor (P-1) to Mint State (MS-70), with higher numbers indicating better preservation. A coin’s grade directly correlates with its desirability and, therefore, its value. Professional grading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company) provide standardized and authenticated grades.
- Mintmark: A small letter found on the coin, the mintmark identifies the facility where the coin was produced. For 1921, common mintmarks include “S” for San Francisco and “D” for Denver, while coins from the Philadelphia Mint typically bear no mintmark. The rarity of coins from a particular mint can significantly impact their 1921 coin value.
- Errors and Varieties: Mistakes made during the minting process, or subtle intentional design variations, can turn an ordinary coin into a highly sought-after rarity. These can include off-center strikes, double dies, re-punched mintmarks, or unique die cracks. Identifying these can dramatically increase the 1921 coin value.
The Iconic 1921 Morgan Silver Dollar
The 1921 Morgan Silver Dollar holds a special place in collectors’ hearts. After a hiatus of 17 years, the Morgan Dollar was briefly resurrected in 1921 before being replaced by the Peace Dollar later the same year. This makes the 1921 issue particularly significant as the final year of this beloved series.
1921 Morgan Silver Dollar Value Breakdown:
- Circulated Condition: In average, circulated condition, a 1921 Morgan Dollar typically fetches between $30 and $50. This range reflects their historical silver content value plus a small numismatic premium.
- Uncirculated (Mint State) Condition: The 1921 coin value for uncirculated Morgan Dollars sees a significant jump:
* MS60-MS63: These grades, representing lower-end uncirculated coins, are generally valued at $60-$150. They show full luster but may have some contact marks.
* MS65 and higher: As the grade improves, so does the value. MS65 coins, considered “Gem Uncirculated,” can command $200-$500+. For exceptionally high-grade pieces, particularly those graded MS67 or higher with superb eye appeal, the 1921 coin value can potentially reach $15,000 or more. These are rare and highly prized by serious collectors.
Mintmarks and Their Impact:
The 1921 Morgan Dollar was struck at three different mints:
- Philadelphia (no mintmark): With over 44 million minted, the Philadelphia issue is the most common and generally serves as the baseline for 1921 coin value. While abundant, high-grade examples are still valuable.
- San Francisco (“S”): Coins from the San Francisco Mint are slightly less common than their Philadelphia counterparts but were still minted in large numbers. They tend to be slightly more valuable than Philadelphia issues in comparable grades.
- Denver (“D”): The 1921-D Morgan Dollar is notable as it marked the first time the Morgan Dollar series was ever produced at the Denver Mint. Despite this historical significance, they were minted in large quantities and are generally comparable in value to the San Francisco issues, though high-grade examples can sometimes carry a slight premium due to their unique minting history.
Notable Errors for the 1921 Morgan Dollar:
While less common than for some other issues, certain errors can significantly enhance the 1921 coin value:
- “Thornhead” Varieties: These are subtle die varieties where a small die break or anomaly appears as a “thorn” near Liberty’s head. Identifying these requires careful examination but can add a premium.
- Off-Center Strikes: When a coin blank is not perfectly centered in the coining press, the resulting strike is off-center, creating a distinctive and collectible error. The degree of off-centerness determines the value.
- Die Breaks and Cuds: Cracks or breaks in the coin die can leave raised lines or lumps (cuds) on the struck coin. Significant die breaks can be very desirable.
The Inaugural 1921 Peace Silver Dollar
The 1921 Peace Silver Dollar is a true numismatic landmark. Designed by Anthony de Francisci, it was created to commemorate the end of World War I. The 1921 issue is unique within the series due to its distinctive “High Relief” design, a feature that proved difficult to strike and was quickly abandoned in subsequent years.
1921 Peace Silver Dollar Value Breakdown:
- Circulated Condition: Even in low to average circulated condition, the 1921 Peace Dollar is considerably more valuable than its Morgan counterpart. Expect values of $100 or more due to its rarity and historical significance.
- Uncirculated (Mint State) Condition: The 1921 coin value for uncirculated Peace Dollars escalates rapidly:
* These coins can easily fetch hundreds or even thousands of dollars, depending on the precise grade and condition. The extreme difficulty in striking the high relief design meant that very few 1921 Peace Dollars were struck perfectly, making high-grade examples particularly elusive.
Rarity and Unique Features:
- Low Mintage: Fewer than a million 1921 Peace Dollars were minted (specifically 1,006,473), making them significantly rarer than the 1921 Morgan Dollar. This low mintage is the primary driver of their increased 1921 coin value.
- High Relief: All 1921 Peace Dollars are characterized by their “High Relief” design. This means the design elements stand out much more prominently from the coin’s surface compared to later issues. While aesthetically striking, this design put immense pressure on the dies, leading to frequent breakage and often resulting in weakly struck areas on the coins themselves. Collectors highly value well-struck 1921 High Relief examples.
The Scarce 1921 Mercury Dime
The Mercury Dime, designed by Adolph A. Weinman, is celebrated for its elegant depiction of Liberty wearing a winged Phrygian cap. While many Mercury Dimes are common, the 1921 issues stand out due to their lower mintages, particularly from the Denver Mint.
1921 Mercury Dime Value Breakdown:
- Circulated Condition: The 1921 coin value for circulated Mercury Dimes can range significantly, from $40 to $1350, depending heavily on the specific mintmark and the coin’s grade. Even in lower grades, these coins carry a substantial premium over their silver content.
- Uncirculated (Mint State) Condition: For uncirculated examples, the 1921 coin value can soar, reaching as high as $4750 for top-tier specimens.
Low Mintage and Key Dates:
- 1921-D Dime: The 1921-D Mercury Dime is a key date in the series. It has the second-lowest mintage of any Mercury Dime (1,080,000 produced), making it highly desirable. Its rarity drives its premium 1921 coin value.
- 1921 (Philadelphia) Dime: While more common than the Denver issue (10,630,000 minted), the 1921 Philadelphia dime is still considered a semi-key date due to its relatively lower mintage compared to surrounding years. High-grade examples are still sought after.
The Majestic 1921 Standing Liberty Quarter
The Standing Liberty Quarter, designed by Hermon A. MacNeil, is renowned for its artistic beauty and, in its early years, its controversial design. The 1921 issue is a low-mintage key date within the series, making it particularly valuable to collectors.
1921 Standing Liberty Quarter Value Breakdown:
- Circulated Condition: A circulated 1921 Standing Liberty Quarter is worth between $150 and $1500, with its exact 1921 coin value being highly dependent on its grade and whether it’s from the Philadelphia or Denver mint. Even in lower grades, these coins are scarce.
- Uncirculated (Mint State) Condition: For uncirculated examples, the 1921 coin value can be substantial, with some specimens selling for as much as $8650.
Rarity and Mintmarks:
- 1921 (Philadelphia) Quarter: Only 1,916,000 were minted at the Philadelphia Mint, making it a significant rarity. This low mintage ensures a high 1921 coin value across all grades.
- 1921-D Quarter: The Denver Mint produced even fewer Standing Liberty Quarters in 1921, with a mere 1,900,000 struck. This slight edge in rarity makes the 1921-D often slightly more valuable than its Philadelphia counterpart in comparable grades.
The Ubiquitous 1921 Lincoln Wheat Cent (Penny)
While silver coins dominate the high-value spectrum for 1921, the Lincoln Wheat Cent from that year also holds numismatic interest, particularly in higher grades and with specific mintmarks.
1921 Lincoln Wheat Cent Value Breakdown:
- Common Circulated Condition: Most circulated 1921 Lincoln Cents are relatively common and generally worth $1-$2. This makes them accessible entry points for new collectors.
- Mint State (MS-63 RD): The 1921 coin value for uncirculated cents, especially those with original red luster, increases dramatically. An MS-63 RD (Red) cent can range from $250 to over $1,200, depending on the specific mintmark and the vibrancy of its original color.
Mintmarks and Condition:
- San Francisco (“S”) Mint Mark: The 1921-S Lincoln Cent (8,000,000 minted) is generally more sought after than the Philadelphia mint mark (39,157,000 minted), particularly in uncirculated condition. Its lower mintage contributes to a higher 1921 coin value.
- Condition and Color: For Lincoln Cents, color plays a crucial role in valuation:
* “RD” (Red): Coins retaining their original copper-red luster are the most valuable.
* “RB” (Red-Brown): Coins with a mix of red and brown toning are less valuable than “RD” but more than “BN.”
* “BN” (Brown): Coins that have completely toned to brown are the least valuable in uncirculated grades.
Potential Errors for the 1921 Lincoln Cent:
Like other coins, Lincoln Cents can exhibit errors that boost their 1921 coin value:
- Off-Center Strikes: As with other denominations, a coin struck off-center is a popular error.
- Broadstrikes: Occur when the retaining collar fails during striking, causing the coin to expand beyond its normal diameter.
- Double Strikes: When a coin receives more than one impression from the die, creating overlapping details.
- Die Breaks and Lamination Errors: Imperfections in the planchet or die can lead to unique features.
Important Considerations for All 1921 Coins
Regardless of the specific denomination, several overarching considerations apply to accurately determining any 1921 coin value:
- Condition (Grade): Reiterate that this is paramount. A higher grade almost always means a significantly higher value. Learning to accurately grade coins, or submitting them to professional services, is essential for serious collectors.
- Mintmark Location: Always check for the mintmark. On Morgan and Peace Dollars, it’s typically on the reverse, above the “ONE DOLLAR.” On Mercury Dimes and Lincoln Cents, it’s usually below the fasces/torch and date, respectively. On Standing Liberty Quarters, it’s on the obverse, to the left of Liberty’s foot (after 1917).
- Market Demand: The popularity of a particular coin type or series can fluctuate, influencing its 1921 coin value. Current trends in the numismatic market can play a role.
Seeking Professional Guidance
For precise and reliable valuation, especially for potentially high-value coins like uncirculated 1921 Peace Dollars or key-date 1921 Mercury Dimes and Standing Liberty Quarters, it is highly recommended to consult a professional coin grading service (such as PCGS or NGC) or a reputable numismatist. These experts can provide authenticated grades, detect subtle varieties or errors, and offer accurate market valuations, ensuring you get a fair assessment of your 1921 coin value.
In conclusion, the year 1921 produced a fascinating array of U.S. coinage, offering something for every level of collector. From the common yet historically significant Morgan Dollar to the rare and beautiful Peace Dollar, understanding the nuances of condition, mintmark, and rarity is key to appreciating and accurately valuing your 1921 treasures.
Is a 1921 dollar coin worth anything?
1921 MORGAN Morgan Dollar Value
According to the NGC Price Guide, as of August 2025, a Morgan Dollar from 1921 in circulated condition is worth between $40.50 and $45. However, on the open market 1921 MORGAN Silver Dollars in pristine, uncirculated condition sell for as much as $17500.
Why are 1921 coins rare?
From my experience, The 1921 Peace Silver Dollar
The 1921 Peace dollar was minted in lower numbers than any release in the series until 1927, when mintage figures dipped below 1,000,000 coins for the first time ever. As a result of its limited mintage, the 1921 Peace dollar remains a popular collector’s item.