1921 was certainly a transitional, if not experimental, year for U.S. coinage. Three separate commemorative silver half dollars were produced to celebrate the Pilgrim Tercentenary, the Missouri Centennial, and the Alabama Centennial. Among the circulating issues, lower-mintages were seen from most branch mints, affecting the Buffalo nickel and Mercury dime series, with even a Philadelphia deficit apparent to the Standing Liberty quarter and Walking Liberty half dollar productions. Perhaps, the most intriguing Mint occurrences of 1921 can be attributed to silver dollar production, with both the Morgan and Peace design types sharing the coining press.
Though the Morgan dollar, or any silver dollar for that matter, had not seen production since 1904, the Pittman Act of 1918 served as a subsidy to domestic silver mines and compelled the resurrection of George T. Morgan’s design, and in great quantities. Because the original design hubs had been destroyed in 1910, new hubs were crafted by Morgan himself, based upon the 1878 7 Tailfeathers, Reverse of 1878 variety. Though conceptually faithful to the original design, these new hubs exhibited minor alterations and a much shallower relief, resulting in a subtly distinguished aesthetic when compared to the initial 1878 to 1904 production. The dies manufactured from these hubs struck an astonishing 44,690,000 dollars at the Philadelphia Mint alone, resulting in the largest Morgan issue of the entire series.
Contributing over a million additional silver dollars to the year’s total was the simultaneous production of the Peace dollar design type. Designed by Anthony de Francisci and rendered in a high relief format, examples are stunning when fully struck, but the effort required made the relief impractical and detrimental to the dies. While a lower relief design eliminated these striking complications for the 1922 issue, the true beauty of Francisci’s vision was somewhat diminished.
While the Morgan dollars of 1921 far outnumber those of the Peace design, finding them with excellent preservation can be more challenging than earlier, lower-mintage issues of the 1870s and 1880s. Offered in our July 2015 Baltimore auction is an exceptional 1921 survivor – among the very finest seen by PCGS. This Superb Gem is fully brilliant, with satiny luster that provides strong cartwheel effects throughout. The strike is razor sharp and contributes to the overall impressive execution. This Condition Census example is exceedingly attractive for the issue and represents an important opportunity for the collector of top-quality Morgan dollars. Please be sure to inspect this jewel closely and formulate your bid with great care!
To view this numismatic marvel along with other treasures, including the Douglas C. Kaselitz Collection, the Twin Leaf Collection and the many additional exciting items from our July 2015 Baltimore Auction, please visit StacksBowers.com or contact our offices to secure your copy of the catalog.
