One of the most coveted items in any coin collection is the 1921 Morgan Silver Dollar. This was the final year of the Morgan design before the introduction of the Peace Silver Dollar later that same year.
The United States Mint introduced this design on the Dollar coin in 1878, authorized by the Bland-Allison Act. The law reinstated the free coinage of silver after the Coinage Act of 1873 had temporarily ended the silver standard in the country. Then in 1890 the Sherman Silver Purchase Act even increased the amount of silver the Treasury was demanded to acquire to turn into coins.
After a series of repeals and Congress disputes, when all silver bullion purchased under the Sherman Silver Purchase Act was depleted in 1904, the US Mint stopped the production of Morgan Silver Dollars.
It would take more than a decade and another law, the Pittman Act in 1918, to authorize the melting and recoining of millions of silver dollars. And that long legal history led to the final coinage of circulating Morgan Silver Dollars in 1921, before the decision of changing the design.