Though Silver Dollars have been part of American Coinage since the early days of the US Mint, few versions were more popular than the Morgan Silver Dollar. These coins boasted imagery that was as intricate as it was beautiful, and took the American public by surprise in all the right ways. Now, more than 100 years after these coins were first minted, collectors are doing everything they can to get their hands on well-preserved Morgans.
For collectors, the time to buy these coins is now because there are only ever going to be fewer and fewer on the market.
When it comes to the condition of coins that are approaching a century of existence, the condition of the coin is something that raises a big question mark for collectors. While one coin may have been excellently preserved, the next will have been quite heavily damaged. Knowing this, collectors will always pay close attention to a coin prior to making a purchase.
For most people, the best way to have the condition of a coin assessed is to send it away to a professional company for grading. Knowing that not everyone can afford to have their coins graded, we have provided below an outline of the basic coin grades as well as their related characteristics.
Uncirculated: Uncirculated coins are the best of the best in that they have spent almost no time exchanging hands. These pieces will have been preserved from the day they were minted and even to this day will have retained many of those pristine qualities. Naturally, Uncirculated coins are the most desirable for collectors.
Extremely Fine: If a coin is of Extremely Fine grade, this means that the piece in question will have spent almost no time at all in circulation. Though these coins spent only a bit of time being circulated, the fact of the matter is that they have been damaged a bit. While there is damage, you will only be able to notice it under close inspection.
Fine: Fine is the grade given to coins that were circulated for an extended period of time, but have not been so heavily damaged. You will notice that the surfaces of these coins have been worn down over the years such that the coin will feel smooth to the touch. All in all, however, collectors are constantly trying to get their hands on these pieces.
Good: Good is the worst grade a coin can receive and is usually indicative of a piece that has been through many years of circulation. These pieces will play host to an immense amount of damage that can vary dramatically from coin to coin. All in all, these coins are in poor shape and are not the first choice to be added to a collection.
When it comes to the Morgan Silver Dollar, assigning a price is no more difficult than assessing the condition of the coin and understanding what type of coin you own. Being that condition means everything to collectors, it goes without saying that those well-preserved pieces will sell for the highest prices. Secondly, because multiple types of Morgans were produced each and every year, the exact type you have will also play into the asking price. Below exists a chart aimed at giving you a better idea of what you might be asked to pay for a 1921 Morgan Silver Dollar given its condition and type.
1921 Morgan Dollar
|1921 Morgan Dollar||N/A||N/A||$37||$38|
|1921 Morgan Dollar (D)||N/A||N/A||$37||$38|
|1921 Morgan Dollar (S)||N/A||N/A||$39||$41||Source: Red Book|