1921-S Morgan Dollar Value
In the current market, a 1921-S Morgan Dollar changes hands for roughly $34.00 at the low end and $850 at the top; the melt floor under every example is $28.23 (spot prices as of 2026-06-01) Exceptional, certified pieces regularly exceed the top of that range.
1921-S Morgan Dollar value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $28.23 |
| Good (G-4) | $34.00 to $40.00verified |
| Very Good (VG-8) | $35.00 to $42.00verified |
| Fine (F-12) | $36.00 to $45.00verified |
| Very Fine (VF-20) | $38.00 to $48.00verified |
| Extremely Fine (XF-40) | $42.00 to $55.00verified |
| About Uncirculated (AU-50) | $48.00 to $65.00verified |
| Mint State (MS-60) | $60.00 to $85.00verified |
| Choice Unc (MS-63) | $95.00 to $140verified |
| Gem Unc (MS-65) | $600 to $850verified |
Estimated retail range, updated 2026-06-15. Rows marked verified reflect dealer retail listings; the rest are model estimates from mintage rarity and metal content. Actual sale prices vary with certification, eye appeal and market timing.
Current 1921-S Morgan Dollar value
In worn but collectible condition (Good-4), a 1921-S Morgan Dollar starts around $34.00. From there, value climbs with every grade step: a gem Mint State example (MS-65) can reach $850. Most coins found in old collections fall somewhere between Very Fine and About Uncirculated, the middle rows of the table above.
1921-S Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1921
- Mint mark
- S
- Mintage
- 21,695,000
- Composition
- 90% silver, 10% copper
- Weight
- 26.73 g
- Diameter
- 38.1 mm
- Edge
- Reeded
- Designer
- George T. Morgan
- Silver content
- 0.77344 troy oz
Mintage figure: US Mint reports (approximate).
Where is the mint mark on a 1921 Morgan Dollar?
On a 1921-S Morgan Dollar, the "S" mint mark of the San Francisco Mint sits on the reverse, just below the wreath bow and above the letters DO in DOLLAR. A loupe helps: on worn examples the letter can fade into the surrounding devices.
What makes the 1921-S Morgan Dollar valuable
Every 1921-S Morgan Dollar contains 0.7734 troy ounces of pure silver, currently worth $28.23. That intrinsic value is a hard floor under the price: no matter how worn the coin, the silver inside cannot be graded away.
21,695,000 pieces left the presses, so survivors remain plentiful. Pricing tracks bullion and grade, with gems carrying the only substantial premiums.
Context adds the final layer to the 1921-S Morgan Dollar. The Morgan dollar is the most collected classic United States coin, struck from 1878 to 1904 and once more in 1921. Owning this date means owning a piece of that story, and demand for the series as a whole sustains liquidity for every issue in it.
Summary: the 1921-S Morgan Dollar is valued between $34.00 and $850 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.