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1921 Morgan dollar value: $92 circulated to $175 in MS-65 per PCGS, about $50.61 in silver at $65.44/oz. 1921-D and 1921-S values and mint mark tips.
Condition drives the price — full breakdown below.
44,690,000 struck — against the other key dates in the Morgan Silver Dollar series.
Bars are scaled to keep the smallest mintages visible; the exact figure is printed on every row. Mintage is coins struck, not coins surviving — melting and circulation wear thin those numbers further.
PCGS lists a 1921 Morgan at $92 in every circulated grade from G-4 through EF-40, $94 in AU-50, $95 in MS-60, $110 in MS-63 and $175 in MS-65 (retrieved 2026-09-03). Below MS-63 you are paying for silver, not rarity.
Each coin weighs 26.73 grams of 90 percent silver, which is 0.7734 troy ounces of pure silver. At a silver spot price of $65.44 per ounce on 3 September 2026 that is about $50.61 of metal in every 1921 Morgan.
Philadelphia struck 44,690,000 in 1921, and PCGS notes that many millions were later melted under the Silver Act of 1942. Denver struck 20,345,000 (1921-D) and San Francisco 21,695,000 (1921-S).
The 1921-D is the only Morgan dollar ever struck at Denver. PCGS prices it at $92 in G-4 through EF-40, $94 in AU-50, $95 in MS-60, $160 in MS-63 and $575 in MS-65, so the D mint mark roughly triples the gem value.
The 1921-S is the condition rarity of the three. USA Coin Book lists it at $77 in G-4, $92 in EF-40, $112 in MS-60 and $969 in MS-65, and PGS Gold and Coin's 2026 chart puts MS-63 at $110 and MS-65 at $1,600.
Find the mint mark on the reverse, just above the DO in DOLLAR under the wreath. No letter means Philadelphia, D means Denver and S means San Francisco; 1921 is the only year a D appears on a Morgan.
Designer George T. Morgan's 1921 coins came from new, flatter dies after a 17-year gap in production, so 1921 Morgans look softer and less detailed than 1878 to 1904 issues even in mint state. That is normal, not wear.
Guide prices run above what coins actually bring. PCGS records Stack's Bowers sales of PCGS MS-65 examples at $145 in October 2025, December 2025 and February 2026 and $171 in May 2026, against the $175 guide figure.
The money is in gem grades: PCGS lists MS-66 at $700, MS-66+ at $2,250 and MS-67 at $9,500, and a PCGS MS-67 brought $19,975 at Legend Rare Coin Auctions in October 2015. Only certified coins reach those prices.
Live listings matching the 1921 Morgan Silver Dollar
Other dates and varieties in this series
What to check before you pay, specific to this date and its 44,690,000-coin mintage.
The same date runs from about $92 worn to $175 at the top of the scale — a 2× spread. Nearly all of that gap is condition, not the date on the coin, so work out where an example sits on the table above before deciding whether its asking price is fair.
Grading fees would eat much of what this coin is worth, so raw examples are normal here and nothing to be wary of. Judge it on clear photos of both sides and the seller's track record instead.
Every Morgan Silver Dollar listed here is priced by an individual seller, so the same coin in the same grade can differ by a wide margin on any given day. Sort by price, check Metal Points and order history for a sense of the seller's record, and message them if the photos don't show enough to grade confidently.
About the 1921 Morgan Silver Dollar
Value depends heavily on condition. A well-worn example brings closer to $92, while an uncirculated one can reach $175 or more.
PCGS lists a 1921 Morgan at $92 in every circulated grade from G-4 through EF-40, $94 in AU-50, $95 in MS-60, $110 in MS-63 and $175 in MS-65 (retrieved 2026-09-03). Below MS-63 you are paying for silver, not rarity.
For anything you believe is a key date or an error, professional grading protects both buyer and seller by settling condition and authenticity before money changes hands.
The rest of the series, with what each is worth at the top of the grade scale.
List it free on PeerMetals — flat 2.75% seller fee, zero listing fees, 1–3 day payouts.
