Key Features:
- Obverse:
- Displays Lady Liberty in profile, wearing a Phrygian cap with the inscription “LIBERTY” on a ribbon. Surrounding her are the words “E PLURIBUS UNUM,” with the date “1921” at the bottom.
- Reverse:
- Features a bald eagle with wings outstretched, holding arrows and an olive branch, symbolizing both strength and peace. The inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR” surround the eagle. The 1921 issue often has a higher relief compared to earlier years, contributing to its detailed and striking design.
- Composition: 90% silver and 10% copper.
- Silver Content: Contains approximately 0.7734 troy ounces of silver.
- Diameter: 38.1 mm.
- Weight: 26.73 grams.
Grade:
- PCGS MS64 (Mint State 64):
- MS64 is a high grade, indicating the coin is in uncirculated condition with strong luster and minimal contact marks or surface imperfections.
- In this grade, any imperfections are typically small and in non-prominent areas. The coin should still have strong eye appeal, with most of the original mint luster intact.
- The strike quality may vary somewhat, as 1921 Morgans are known for having some strike inconsistencies compared to earlier years, but MS64 examples generally display sharp details.
Historical Context:
- 1921 was a transitional year for U.S. silver dollars. After the Morgan Dollar was last minted in 1904, production resumed in 1921 before switching to the Peace Dollar in the same year.
- The U.S. government authorized the re-minting of Morgan Dollars in 1921 due to increased demand for silver coinage and the melting of millions of older silver dollars under the Pittman Act of 1918.
- The 1921 Morgan Dollar was struck in large quantities at three different mints: Philadelphia (no mintmark), Denver (D), and San Francisco (S).
Mintage & Scarcity:
- The 1921 Morgan Dollar had an exceptionally high mintage, with over 44 million coins struck at the Philadelphia Mint alone, making it one of the most common dates in the series.
- While high mintage numbers make it one of the more affordable Morgan Dollars, coins in higher grades, such as MS64, are still desirable for collectors due to the coin’s historical importance and luster.
VF-20 Very Fine- Two thirds of hair lines from top of forehead to ear visible. Ear well defined. Feathers on eagle’s breast worn.
EF-40 Extremely Fine- All hair lines strong and ear bold. Eagle’s feathers all plain but with slight wear on breast and wing tips.
AU-50- About Uncirculated- Slight trace of wear on the bust shoulder and hair left of forehead, and on eagle’s breast and top edges of wings.
MS-60 Uncirculated-Â No trace of wear; full mint luster present, but may noticeably marred by scuff marks or bag abrasions.
MS-63 Choice Uncirculated-Â No trace of wear; full mint luster; few noticeable surface marks.
MS-64 Uncirculated-Â A few scattered contact marks/ Good eye appeal and attractive luster.
MS-65 Gem Uncirculated-Â Only light, scattered contact marks that are not distracting. Strong luster, good eye appeal.
PF-63 Choice Proof-Â Reflective surfaces with few blemishes in secondary focal places. No major flaws.
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