Face Value: 1921 Morgan Dollar

In 1921, the Morgan Dollar series ended as the last issues were produced and circulated nationwide. Largely forgotten, its popularity and demand were renewed by the 1960s and, since then, the average worth of the 1921 Morgan Dollars in the current market has quadrupled.

Depending on the mint facility, grade and finish, the 1921 issues' value will vary in the current market. Coins with Prooflike (PL) and Deep Prooflike (DPL) finishes are rare and are worth more than their Mint State (MS) counterparts.

1921 Morgan Dollar

According to the NGC Price Guide, a free resource provided by Numismatic Guaranty Company™ (NGC®), a circulated 1921 Morgan Dollar is worth between $29 and $45, while the value of 1921 MS issues have a value between $55 and $15,000. The Philadelphia issue has a mintage of 44,690,000; the largest number struck for the series. To learn more about the 1921 Morgan Dollar and see the latest values from the NGC Price Guide, visit NGC Coin Explorer.

1921 Morgan Dollar from NGC Coin Explorer Click images to enlarge.

1921-D Morgan Dollar

The Denver Mint had a mintage of 20,345,000, and circulated issues today are worth between $29 and $50. Mint State 1921-D Morgan Dollars have an NGC Price Guide value between $60 and $50,000. To learn more about the 1921-D Morgan Dollar and see the latest values from the NGC Price Guide, visit NGC Coin Explorer.

1921-D Morgan Dollar from NGC Coin Explorer Click images to enlarge.

1921-S Morgan Dollar

The 1921 Morgan Dollars struck in San Francisco have a mintage of21,695,000. Circulated coins are valued between $29 and $70; Mint State ones are valued between $80 and $25,000. To learn more about the 1921 Morgan Dollar and see the latest values from the NGC Price Guide, visit NGC Coin Explorer.

1921-S Morgan Dollar from NGC Coin Explorer Click images to enlarge.

History of Morgan Dollars

Morgan Dollars were regularly produced from 1878 to 1904, when the bullion that had been legislatively allocated for silver dollar production ran out. After a 17-year hiatus, the US Mint was directed to strike new silver dollars. In 1921, the Philadelphia, Denver and San Francisco facilities produced additional Morgan Dollars until the new Peace Dollar design was ready.

Because the original hubs were destroyed, the 1921 Morgan issues look a little different from the previous issues. A century later, the passing of the 1921 Silver Dollar Act led to the production of the 2021 Morgan and Peace Dollars, celebrating the end of one series and the beginning of another.

All values are based on the NGC Price Guide.