The value of a 1921 Morgan silver dollar is dependent on several factors, most notably its condition and mint mark. Coins in circulated condition, showing wear and tear from handling, generally command prices around their silver melt value or slightly above. Uncirculated examples, retaining their original luster and exhibiting no wear, are worth significantly more. The presence of a particular mint mark, or lack thereof, also plays a crucial role in determining its worth.
These coins represent a tangible piece of American history, minted during a period of significant economic and social change. The silver content itself provides intrinsic value, while collector demand adds a premium based on rarity and preservation. Understanding these factors allows individuals to assess a potential investment or appreciate a historical artifact.