The Zerbe Proof 1921-S Morgan Dollar is a rare coin that collectors highly value. The Morgan dollar, officially called the Liberty Head Dollar, is a silver coin produced by the United States Mint from 1878 to 1904, and again in 1921.
In 1921, the San Francisco Mint created 21,695,000 Morgan Dollars. This was part of a larger effort to produce more silver coins, driven by the Pittman Act of 1918. This law allowed the government to sell a large number of silver dollars to help Britain during World War I and then to repurchase silver for future minting. This year marked the largest production of Morgan Dollars in the entire series.
The History of the Morgan Dollar
The American silver dollar has a complex history. It was first issued in 1794 but faced many challenges throughout the 19th century. The Morgan Dollar was produced in large amounts but not widely circulated. Many coins were returned to the Treasury and stored away.
The Pittman Act’s Impact
The Pittman Act led to the destruction of around 40% of all Morgan Dollars minted. Most of the 1921 coins also went back to the Treasury after a brief circulation.
Farran Zerbe and the Special Strikes
As the Mint prepared for more coin production, excitement grew in the coin community. Farran Zerbe, a past president of the American Numismatic Association (ANA), wanted a new coin design to celebrate the end of World War I.
Zerbe was a well-known figure in the coin world and managed to gather support for his idea. He claimed that the Mint struck 24 special coins just for him when he was disappointed to find out that the new coins were still the Morgan design.
The Known Zerbe Proofs
Though Zerbe claimed there were 24 special strikes, only five are recognized today as true Zerbe Proofs. Here’s a summary of these coins:
| Feature | Details |
|---|---|
| Total Known | 5 |
| Grading | 4 graded by PCGS, 1 ungraded in a museum |
| Highest Price | $117,500 (PCGS PR65 CAC) |
| Common Price Range | $150 – $400 (regular 1921-S Morgan Dollars) |
Design Features
Obverse Design
- Liberty Head: Features Liberty facing left, wearing a cap.
- Inscription: “LIBERTY” on a ribbon and “E PLURIBUS UNUM” at the top.
- Stars: 13 stars represent the original colonies.
Reverse Design
- Eagle: A heraldic eagle holds an olive branch and arrows.
- Inscription: “IN GOD WE TRUST” above the eagle, “UNITED STATES OF AMERICA” around the top.
Edge
- Reeded Edge: The edge of the coin has ridges.
The Designer
George T. Morgan, born in England in 1845, designed the Morgan Dollar. He became the Chief Engraver of the U.S. Mint in 1917.
Specifications of the Coin
| Specification | Details |
|---|---|
| Country | United States of America |
| Year of Issue | 1921 |
| Denomination | One Dollar (USD) |
| Mintmark | S (San Francisco) |
| Mintage | 24 alleged; 5 known |
| Alloy | 90% Silver, 10% Copper |
| Weight | 26.73 g |
| Diameter | 38.10 mm |
Conclusion
The 1921-S Morgan Dollar Zerbe Proof is a fascinating piece of history and an important collectible for coin enthusiasts. With only a few known examples, its rarity makes it even more special. Collectors value its unique design features and the story behind its creation. Understanding its significance helps appreciate this beautiful coin even more.
FAQ’s
What makes the 1921-S Morgan Dollar Zerbe Proof so rare?
The 1921-S Morgan Dollar Zerbe Proof is rare because only five known examples exist today, despite claims of 24 original strikes. Its limited mintage and unique history associated with Farran Zerbe, who sought special coins, contribute to its rarity and value among collectors.
How can I identify a Zerbe Proof Morgan Dollar?
To identify a Zerbe Proof, look for specific features like a mirror-like finish and sharp details on the design. These coins were struck with a higher quality than standard issues, resulting in a brilliant, polished appearance. Professional grading services like PCGS can also help confirm authenticity.
What is the value of a 1921-S Morgan Dollar Zerbe Proof?
The value of a 1921-S Morgan Dollar Zerbe Proof can vary significantly based on its condition and grading. While regular 1921-S Morgan Dollars typically range from $150 to $400, Zerbe Proofs have sold for as much as $117,500 at auction, depending on their grade and collector interest.