1921-S $1 MS(PCGS#7300)

February 2025 Showcase Auction - U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

1164

Grade

MS66

Price

2,340

Lot Description

The three 1921-dated Morgan dollar issues - the first of their kind since 1904 - were achieved under the terms of the 1918 Pittman Act, which mandated that hundreds of millions of older silver dollars be melted down into bullion, the proceeds from which the government would use to purchase new silver at inflated prices to appease Western mining interests and, more significantly from a numismatic viewpoint, to provide backing for Silver Certificates. The newly acquired silver was to be coined into silver dollars. With the new Peace design taking longer to implement than anticipated, the Mint resurrected the old Morgan design so that silver dollar coinage could resume as quickly as possible. The San Francisco mint produced 21,695,000 Morgan dollars in 1921, being less than half of the mintage of the Philadelphia minted issues. This brilliant upper end Gem is a desirable example for inclusion in a high grade certified set.