Collectors highly prize the 1921 silver dollar and has historical significance, making it unique in the world of numismatics. The Morgan dollar and the Peace dollar, which were both produced in this year of transition in the history of American coins, are the two main varieties of 1921 silver dollars.
The majority of 1921 silver dollars in circulation are valued between $20 and $30, although some uncommon types and excellent examples can bring up to $150,000 at auction. Here are five reasons why coin collectors are quite interested in these coins.
Reasons Which Make 1921 Silver Dollar Very Rare
1. Morgan Dollar Era Comes to an End
Morgan dollars, minted from 1878 to 1904 before being momentarily resurrected in 1921, ended with the 1921 Morgan silver dollar. Because of this “end-of-era” feature, the 1921 Morgan dollar is a valuable coin for collectors.
After 1921, the U.S. Mint adopted the Peace dollar design, which raised Morgan’s appeal even further. Since it marks the end of one of America’s most recognizable coins, the final manufacturing year frequently sparks strong demand.
2. The Peace Dollar was introduced
The introduction of the Peace Dollar in 1921, which was created to honor the conclusion of World War I, also made the year noteworthy. In 1921, the Peace dollar was struck with a high-relief design, setting it apart from subsequent iterations when the relief was decreased to facilitate minting.
Only roughly one million high-relief Peace dollars were made at the Philadelphia Mint, making them far more rare than subsequent Peace dollars.
Because of this, 1921 high-relief Peace dollars are highly sought-after collectibles, with prices for well-preserved specimens frequently topping $150,000.
3. The San Francisco Mint Has Low Mintage
Just over 20 million Morgan dollars were created by the San Francisco Mint, compared to the Philadelphia and Denver Mints’ massive production of the 1921 Morgan dollar.
Compared to the 44 million generated in Philadelphia, this is significantly less. The 1921-S Morgan dollar is particularly valued in higher grades due to its limited mintage.
Because they are so rare, San Francisco Mint coins in mint-state condition can fetch values ranging from $8,000 to $12,000, depending on the grade.
4. Error and High-Grade Varieties
Silver dollars from 1921 that are in Mint State (M.S.) or better are highly prized by collectors. 10 Thousand dollars might be paid for coins that are in excellent condition and have not been worn or damaged.
For instance, one of the highest prices ever paid for a Morgan dollar was recently achieved at auction when a 1921 Morgan dollar-graded MS-68 sold for more than $660,000. The value of these coins is further increased by a few uncommon error kinds, such as VAM (Van Allen-Mallis) defects.
Instances of minting anomalies that distinguish a coin include doubled dies, misplaced mint markings, or other issues.
5. The Special Farran Zerbe
The Farran Zerbe Special is among the rarest variations of the 1921 Morgan silver dollar. These coins are believed to have been minted as presentation pieces for renowned coin collectors of the era and numismatist Farran Zerbe.
There is a restricted quantity of these coins in circulation, and they are distinguished from ordinary ones by their better strike and shiny appearance. These unique Morgan dollars can easily fetch $5,000 or more at auction; the precise amount will depend on the quality and provenance of the coins.
Value Breakdown of 1921 Silver Dollars
| Coin Type | Mintage | Value (Circulated) | Value (Uncirculated) |
|---|---|---|---|
| 1921 Morgan Dollar (P) | 44,690,000 | $20-$30 | $40-$660,000+ |
| 1921 Morgan Dollar (D) | 20,345,000 | $20-$30 | $40-$156,000+ |
| 1921 Morgan Dollar (S) | 21,695,000 | $20-$30 | $40-$74,000+ |
| 1921 Peace Dollar (High-Relief) | 1,006,473 | $100-$150 | $150-$150,000+ |
A few factors make the 1921 silver dollar unique, including that it was the last year in the Morgan dollar series and the year the Peace dollar was introduced.
It is rare because of the San Francisco Mint’s low mintage and the creation of high-relief Peace dollars. Error variations, like VAMs and high-grade instances, increase their worth.
A 1921 Morgan or Peace dollar in excellent condition might fetch thousands or perhaps hundreds of thousands of dollars at auction if you are fortunate enough to possess one.
