The Fascinating Legacy of the 1921 Morgan Silver Dollar
The 1921 Morgan Silver Dollar is a piece of numismatic history with a unique story. These coins, cherished by collectors and investors alike, are not just valued for their silver content but also for their historical significance and nostalgia. This guide explores the rich legacy of the last year of the Morgan Silver Dollar’s production, offering insights into its minting history, design intricacies, and collectible value.
A Brief History of the Morgan Silver Dollar
The Morgan Silver Dollar, named after its designer George T. Morgan, debuted in 1878 as the first standard silver dollar minted since the passage of the Coinage Act of 1873. This beloved coin remained in production until 1904, with a brief revival in 1921. Its design depicts Lady Liberty on the obverse and an eagle with outstretched wings on the reverse, symbolizing American freedom and strength.
Why 1921 Marks a Special Year
The year 1921 marks a pivotal moment for the Morgan Silver Dollar, as this was the last year of its production. The coin made a comeback due to a silver shortage caused by the Pittman Act of 1918, which called for the melting and exporting of millions of silver dollars for bullion. The legislation also mandated the recoinage of the silver, leading to the production of the 1921 Morgan Silver Dollars.
Design and Specifications
- Obverse Design: Features a profile portrait of Lady Liberty adorned with a Phrygian cap, wheat stalks, and cotton bolls.
- Reverse Design: Showcases a bald eagle holding an olive branch and arrows, encircled by the inscription “UNITED STATES OF AMERICA” and “IN GOD WE TRUST”.
- Composition: 90% silver and 10% copper.
- Diameter: 38.1 mm.
- Weight: 26.73 grams.
Minting Locations and Mint Marks
The 1921 Morgan Silver Dollar was minted in three locations, resulting in distinct mint marks that contribute to their collectability:
- Philadelphia (No Mint Mark): The Philadelphia mint produced the highest number of coins, making this version more commonly available.
- Denver (D): The Denver mint struck Morgan dollars for the first and only time in 1921. The presence of the ‘D’ mark adds rarity and interest for collectors.
- San Francisco (S): Known for its consistent high-quality strikes, the San Francisco mint mintage also adds to a collector’s cache.
Rarity and Collectible Value
The 1921 Morgan Silver Dollar remains popular among collectors due to its status as the final year of production for the series. Despite the relatively high mintage, certain factors influence its collectible value:
- Condition: Coins in mint state (MS65 or above) can fetch significantly higher prices.
- Mint Mark Rarity: Coins from the Denver mint are generally more scarce and thus more desirable.
- Historical Significance: As the culmination of a renowned series, these coins attract numismatists interested in American history.
Tips for Investing in 1921 Morgan Silver Dollars
- Focus on coins with minimal wear and high-grade conditions to maximize investment potential.
- Consider diversifying your collection with examples from each mint location.
- Consult with reputable dealers or numismatic experts to ensure authenticity and fair pricing.
A Piece of American History in Your Collection
Owning a 1921 Morgan Silver Dollar is not just about holding a piece of silver; it’s about possessing a tangible piece of American history. With its iconic design, intricate history, and lasting value, the 1921 Morgan Silver Dollar continues to capture the imagination of collectors worldwide. Whether you’re starting your collection or looking to expand it, these coins offer a rich narrative and a potential financial reward.