1921 Morgan Silver Dollar

The Morgan – One of the Most Sought-After and Collected Silver Coins in the World
The story of one of America`s favorite coins has its roots in the discovery of massive amounts of silver found in Nevada in the mid 1800s. The Comstock Lode would yield up to $36 Million of silver ore annually, but demand was waning for the precious metal. In 1878, Congress bowed to political pressure from the silver mining industry and agreed to purchase between $2 and $4 Million worth of American-mined silver every month for coinage. As a result of this controversial legislation, one of the greatest coins in our nation`s history – the Morgan Silver Dollar – was born.

Morgan Dollars were named after their designer, George T. Morgan. First struck in 1878, these solid silver coins were circulated mainly in the West. They soon became symbols of the American West, invoking visions of gunslingers, riverboat gamblers, railroad tycoons, and dance hall queens.

In 1893, Congress passed a law that repealed the mandated monthly silver purchases and required the U.S. Mint to use up its silver reserve. By 1904, silver supplies had depleted, the Morgan Dollar was "retired," and the dies were all destroyed.

The Revival of a Legend
The Morgan Silver Dollar re-emerged in 1921, after a 17-year hiatus, to go back into production for a special one-year minting. The Pittman Act of 1918 called for $350 Million worth of old silver dollars to be melted down and the resulting bullion to be sold to Great Britain as backing for its silver-based currency after its depletion during World War I. The law also called for the U.S. Government to buy an equivalent amount of domestic silver and replace those coins that were melted down.

In February 1921, 17 years after what was thought to be the last Morgan was minted, new dies were cast and the beloved silver dollar – the coin that helped win the West – made one last stand. U.S. Mint facilities in Philadelphia, San Francisco, and Denver put the Morgan back in production for this special one-year mintage – creating one of the most desirable years in this storied coin`s existence.

Today these numismatic treasures are more popular than ever. Whether it`s for the beauty of George T. Morgan`s design or its place in American history, the Morgan Dollar continues to be America`s most-collected coin.

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Photo is a representation only; wear patterns may vary from the pristine example shown here. American Mint is not affiliated with the U.S. Mint.