So, you've found a 1921 silver dollar and are wondering if you can retire early. Well, hold your horses, because 1921 was a rather schizophrenic year for dollar coins, and the value of yours depends entirely on which personality it has.
First, you need to determine if you have a Morgan dollar or a Peace dollar, as the U.S. Mint bizarrely produced both in that single year. The Morgan dollar is the old classic, featuring Lady Liberty with a fuller face and a cap. The Peace dollar, the new kid on the block that year, shows a more slender Liberty with a pointed, radiant crown, looking a bit like the Statue of Liberty.
If you have the 1921 Morgan dollar, congratulations, you have the far more common of the two. These were churned out in massive numbers. If it's been bouncing around in a pocket or a cash register its whole life, its value is mostly tied to its silver content, putting it in the $25 to $50 range. If it looks like it just left the mint yesterday, however, its value can climb into the hundreds or even thousands, especially if it has a D (for Denver) or S (for San Francisco) mint mark on the back.
Now, if you've got a 1921 Peace dollar, you can do a little happy dance. This was the very first year for the Peace dollar, and it was struck in a beautiful but impractical "high relief" that makes it highly sought after by collectors. Even a well-circulated, worn-down example is worth around $100. If yours is in uncirculated condition, you're not just buying dinner, you're potentially funding a vacation, as its value can easily soar into the thousands.
In short, check which Lady Liberty is on your coin. One is a common workhorse, the other is a rare superstar.
