The Morgan silver dollar is one of the most recognizable and widely collected U.S. coins. Struck from 1878 through 1904, it marked a distinct era in American coinage. When production resumed briefly in 1921, it closed the book on the series.

The 1921 Morgan dollar is not rare, but it is historically important. It represents both an ending and a transition—making it a meaningful coin for collectors at many levels.

Why Morgan Dollars Returned in 1921

Morgan dollar production originally stopped in 1904 when silver bullion supplies ran low. For more than 15 years, no Morgan dollars were struck.

That changed with the Pittman Act of 1918, which authorized the melting of millions of silver dollars and required the government to replace them with newly struck coins made from domestically mined silver. As a result, the U.S. Mint resumed silver dollar production in 1921.

Initially, the Mint returned to the familiar Morgan design before introducing a new silver dollar later that same year—the Peace dollar.

Mints and Mintages

The 1921 Morgan dollar was struck at three mints:

• Philadelphia (no mintmark)
• Denver (D mintmark)
• San Francisco (S mintmark)

All three issues were produced in large numbers, especially the Philadelphia and Denver coins. Because of these high mintages, 1921 Morgan dollars are among the most available dates in the series today.

This availability makes them a common entry point for new Morgan dollar collectors.

Design and Production Differences

Although the design matches earlier Morgan dollars, the 1921 issues were struck using newly prepared dies. Some collectors notice subtle differences in detail compared to 19th-century strikes.

The Mint was also working quickly to meet production requirements. As a result, many 1921 Morgan dollars show:

• Weaker strikes
• Less sharp hair and feather details
• Average luster compared to earlier years

These characteristics are typical for the date and not considered defects.

Condition and Collecting Considerations

Because many 1921 Morgan dollars were released directly into circulation or stored in bags, they are often found today in lower Mint State or About Uncirculated condition.

When evaluating a 1921 Morgan dollar, collectors commonly focus on:

• Overall eye appeal
• Luster quality
• Bag marks, especially on Liberty’s cheek
• Strike strength relative to the date

High-grade examples with strong luster and minimal marks do exist, but they are less common than lower Mint State coins.

The Role of the 1921 Morgan in a Collection

The 1921 Morgan silver dollar often serves one of several roles in a collection:

• A type coin representing the Morgan design
• A starter coin for new collectors
• A necessary date for those assembling a complete Morgan dollar set
• A historical bridge between the Morgan and Peace dollar series

While it does not carry the scarcity of earlier key dates, its significance comes from being the final Morgan dollar ever struck.

A Straightforward, Historic Coin

The appeal of the 1921 Morgan silver dollar lies in its context rather than its rarity. It marks the end of a long-running design and the beginning of a new chapter in U.S. silver dollar coinage.

For collectors who value history, continuity, and classic American designs, the 1921 Morgan remains a solid and understandable piece of the story.