2021 Morgan Silver Dollar and Peace Dollar

There is some very good news for collectors of U.S. coins who have been excited about the idea of the U.S. Mint striking 2021 Morgan and Peace Silver Dollars for several years now. On September 22, the House of Representatives passed H.R. 6192, the 1921 Silver Dollar Coin Anniversary Act, with no objections to the bill from any representatives.

The next day, September 23, the legislation was received in the Senate and referred to the House Banking Committee. The House bill was introduced on March 11 by Rep. Andy Barr (R-KY), while the companion Senate bill, S. 4326, was introduced by Senators Mike Enzi (R-WY) and Catherine Cortez-Masto (D-NV) on July 27.

This program honors the 100^th anniversary of the end of the Morgan Silver Dollar series with the release of final coin, the 1921 Morgan dollar. It also marks the commencement the same year of the Peace Dollar series with the release in December 1921 of the first Peace Dollar, struck in high relief, which was issued to commemorate the declaration of peace between the United States and Imperial Germany that ended World War I.

The transition from Morgan to Peace Dollars also reflects a key moment in American history as the country evolved from the westward expansion and industrial development of the late 19 ^th century and came of age as an international power during World War I. In addition, the different depictions of Liberty on the two coins reflected a changing of the guard in 1921 and that evolution of American freedom will be celebrated with the 2021 Morgan and Peace dollars.

Morgan Silver Dollar and Peace dollar

The legislation is expected to pass the Senate and then be signed into law by President Trump, paving the way for an exciting program next year that may include Uncirculated and Proof Morgan Silver Dollars struck at the Philadelphia, Denver and San Francisco Mints as well as coins with privy marks in the same place as mint marks for the New Orleans and Carson City Mints that have long been closed plus Uncirculated high-relief Peace dollars struck at the Philadelphia Mint as well. There may also be special sets of coins from different mints.

The bill builds on previous legislation introduced last year in the House by Rep. Emanuel Cleaver (D-MO) that proposed issuing the same coins as commemorative issues that failed to garner sufficient support in the Congress despite having strong support in the numismatic community.

Thomas Uram, Chairman of the Citizens Coinage Advisory Committee and President of the Pennsylvania Association of Numismatists, and his CCAC colleague numismatic author Michael Moran, are longtime coin collectors who came up with the idea of this program and have been working hard with members of congress for the past couple years on it.

The legislation that passed the House gives the Mint the authority to issue the coins in .999 fine silver like all other silver coins currently issued by the Mint. The bill also does not specify an end date for the program, but Mr. Uram said that he has been told by Mint officials that they do not expect to issue the coins beyond 2021 other than perhaps for other anniversary dates like the 110 ^th.

The bills also state that the coins are to be considered numismatic items; that they will be issued with the same weight and in the same size as the original coins; and that they will carry renditions of the original designs that appeared on the 1921 Morgan Dollar and the 1921 Peace Dollar.

There is very strong support for these coins among collectors, but some of them have said they are concerned about the retail price being too high. However. the coins are not expected to have high premiums and should be priced roughly in line with the collector versions of the American Silver Eagle (i.e., Proof and burnished uncirculated examples sold directly by the Mint).

If you want to see these coins minted next year, you should contact your Senator as soon as possible and ask them to support S. 4326. You can mention that the coins have been estimated to generate $31 million in revenue for the Mint. Profits on those sales are returned to the Treasury to reduce the national debt after all costs are recouped.

Morgan Silver Dollar Value

Silver Dollars are always one of the hottest segments of the market, especially when silver spot prices and demand for silver are rising, as they have been this year.

Today a pre-1921 Morgan dollar is worth about $30 in circulated condition, $52 for an MS60, $60 an MS63 coin, $130 for MS65 and $650 for a top-grade MS67.

1921 Morgan Silver Dollar

1921 was the final coin of the series that was issued after a long hiatus since 1904 and also has by far the largest original mintage and the largest surviving population of the series. Yet the coin remains very popular with collectors, especially those newer to the series as well as more advanced collectors looking for top-graded coins that are hard to find, especially with good strikes.

Circulated examples are worth $30, MS63 runs $60, MS64 is $70, MS65 runs $150, but a top graded MS67 is much more valuable than pre-1921 examples, commanding an impressive $13,000.

And scarce Deep Mirror Prooflike coins are also very valuable worth from $750 in MS62 DMPL all the way to over $22,000 for MS65 DMPL.

Peace Dollar Value

A type example (which is usually a 1922 or 1923 coin) runs the same in circulated grades as a common Morgan, i.e., $30, while in  MS60 Peace dollars are cheaper in price at $40. MS63 is $46, and $350 in MS66, but in MS67 they are scarce and run $2,850. Interestingly, in that grade 1925 (another of the more common dates in BU condition) is worth less than 1922 or 1923.

1921 Peace Dollar

The 1921 Peace Dollar is a key coin as the first issue and the only high-relief Silver Dollar ever struck. Though not as low mintage as coins like 1928 and 1934-S, it is always in demand. In circulated grades it runs  $170 in XF, $215 in AU, $285 in MS60, $450 in MS63 all the way to $140,000 for a rare MS67.

1922 Peace Dollar

1922 Peace Dollar values mostly track the type coin values listed above, but in MS66 they are worth $450 and in MS67 $12,000, or four times what a 1925 in that grade commands.

While a complete date and mint mark set of Morgan dollars is a challenging task that would take many years and considerable resources, a complete Peace dollar set is much more accessible up to sets in MS63-MS65. A basic date set in BU can be had for just under $1,000.