Lot 1781
1921-S. PCGS graded MS-65. Housed in an Old Green Holder. Well struck and lightly toned. Toward the tail end of World War I, the Pittman Act (April 23, 1918) required melting of not over 350 million silver dollars to supply silver to the British government. Accordingly, 259,121,554 were melted for resale $1 per fine ounce (the British immediately shipped the bullion to India), and 11,111,168 for conversion into dimes, quarters, and half dollars. However, pressure from the silver lobby forced inclusion of a clause in the Pittman Act requiring purchase of enough domestic silver bullion to replace all the melted dollars. Under this authority, some 86,730,000 Morgan dollars were made in 1921 from all three mints then in operation, as the new Peace design was not yet ready. Pop 718; 31 finer, 4 in 65+, 27 in 66 (PCGS # 7300) .
Estimated Value $600 - 650.
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| Realized $748 |
