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The Certified Morgan Silver Dollar 1921 MS62 PCGS holds a special place in American numismatics, not only as the final issue of the original Morgan Dollar series but also as a symbol of a pivotal transition in U.S. coinage history. First introduced in 1878, the Morgan Silver Dollar was the product of George T. Morgan’s artistic vision and the political necessity to monetize vast quantities of domestic silver. After a 17-year hiatus following the end of Morgan Dollar production in 1904, the series was briefly revived in 1921 to comply with the requirements of the Pittman Act of 1918. The act mandated the melting of hundreds of millions of silver dollars and authorized the replacement of some through newly struck coins. The 1921 Morgan Dollar was a result of this legislation and marks the final chapter in a coin series deeply rooted in the economic and industrial expansion of the United States during the Gilded Age and Progressive Era.
The obverse of the 1921 Morgan Silver Dollar continues George T. Morgan’s iconic representation of Liberty, modeled after Anna Willess Williams, a Philadelphia schoolteacher. Liberty is depicted in profile facing left, wearing a Phrygian cap adorned with a ribbon inscribed “LIBERTY,” along with cotton and wheat—symbols of agriculture and unity. The inscriptions “E PLURIBUS UNUM” and the date “1921” circle the upper and lower rims, respectively. Thirteen stars line the bottom of the design, symbolizing the original colonies. Though the basic design remained unchanged from previous issues, the 1921 coins display subtle differences due to new master dies used after the lengthy hiatus. As a result, the relief is slightly shallower, and some of the fine details, such as the hair and facial features, appear less crisp than on earlier Morgan Dollars struck between 1878 and 1904.
The reverse of the 1921 Morgan Dollar features a powerful eagle with outstretched wings, grasping an olive branch in one talon and arrows in the other. The eagle is framed by a laurel wreath, with the inscriptions “UNITED STATES OF AMERICA” and “ONE DOLLAR” surrounding the image. Above the eagle’s head is the motto “IN GOD WE TRUST.” The reverse design, also by Morgan, is praised for its balance and symbolism, blending the concepts of peace and military readiness. As with the obverse, the reverse on the 1921 issue appears slightly flatter in relief compared to earlier examples. Despite this, the design maintains its grandeur and remains one of the most admired motifs in the history of American silver coinage.
The 1921 Morgan Dollar was produced at three mints: Philadelphia, Denver, and San Francisco. The coin certified by PCGS as MS62 and bearing no mintmark was struck at the Philadelphia Mint. With a total output of over 44.6 million Morgan Dollars from Philadelphia alone in 1921, this final-year issue represents the highest single-year mintage for any Morgan Dollar. The mass production was driven by the Pittman Act’s provisions and the post–World War I economic environment, which necessitated replenishing the nation's silver reserves. The Denver Mint produced Morgan Dollars for the first and only time in 1921, adding additional significance to the series’ closing year. As a whole, 1921 Morgans are more plentiful than earlier issues, but they remain highly collectible due to their historical importance and role as the final classic Morgan issue before the introduction of the Peace Dollar later that same year.
Certified by PCGS as Mint State 62, this coin is officially recognized as uncirculated, showing no signs of wear from use. MS62 is considered an entry-level mint state grade, sitting above AU58 and MS60 but below the more premium MS63 and higher classifications. A coin in MS62 condition typically exhibits average luster with noticeable bag marks or contact marks, particularly in the fields and on the high points of the design such as Liberty’s cheek and the eagle’s breast. These marks are the result of bulk handling and storage in canvas bags by the U.S. Treasury, a common fate for silver dollars of the era. Despite these minor imperfections, an MS62 Morgan Dollar maintains full detail and strong overall eye appeal, making it a desirable addition to both type sets and Morgan-specific collections.
The surfaces of this MS62 example likely exhibit a combination of frosty and satiny luster, with clean devices and generally well-defined legends and rims. The strike quality, while slightly weaker than in earlier issues due to the rushed nature of the 1921 reintroduction, remains respectable and allows for good visibility of key design elements. On Philadelphia-struck coins, the strike can vary, but MS62 examples tend to display reasonably sharp central details on both obverse and reverse. The coin’s fields may show some scattered ticks and chatter, but the original mint brilliance remains, especially when viewed under light. The consistency in preservation and originality is further ensured by PCGS’s encapsulation, which protects the coin from further handling and environmental degradation.
The PCGS certification also enhances the coin’s credibility in the numismatic marketplace. As one of the most respected third-party grading services in the world, PCGS provides collectors and investors with assurance regarding authenticity, grade accuracy, and long-term preservation. The encapsulated holder displays the coin’s vital information, including date, denomination, grade, and certification number, making it ideal for tracking within a registry or for resale. For collectors aiming to build a full set of Morgan Dollars by date and mintmark, the 1921 MS62 PCGS coin is a key acquisition that combines affordability with certified quality. It represents a tangible connection to both American coinage history and early 20th-century monetary policy.
The 1921 Morgan Silver Dollar is also significant for its role in closing one of the most beloved chapters in U.S. coin design. Later that same year, the Peace Dollar would debut, marking a shift toward more modern and commemorative themes in American coinage. The Morgan Dollar, with its bold, classical motifs and strong patriotic symbolism, reflects the artistic and industrial character of late 19th-century America. Holding a certified MS62 1921 Morgan is not just an investment in silver or numismatics—it’s a way of preserving a story about America’s growth, transition, and identity in a time of great change.
For collectors who value both history and certified quality, the Certified Morgan Silver Dollar 1921 MS62 PCGS provides a perfect balance. It captures the legacy of George T. Morgan’s artistry, the economic backdrop of the Pittman Act, and the craftsmanship of early 20th-century minting, all preserved in a holder from one of the most trusted names in coin certification. As the final date in the original Morgan series, it holds a unique and irreplaceable role in American numismatics. Whether part of a full set or a standalone investment in silver and historical value, this MS62 coin remains a cornerstone for any serious collector of classic U.S. silver dollars.