1. Worn/Heavily Circulated: Coins that have significant wear and tear, with visible scratches, nicks, and loss of details, are considered worn or heavily circulated. The value of such coins typically ranges from $20 to $50.
2. Fine: Fine-grade coins show moderate wear, with some smoothing of details, but the design and inscriptions are still clearly visible. Their value can range between $50 and $100.
3. Very Fine: Very fine-grade coins exhibit light wear, but the finer details are still sharp and the luster may be slightly dull. These coins can be valued between $100 and $200.
4. Extremely Fine: Extremely fine-grade coins have minimal wear, with sharp details, good luster, and no significant marks or imperfections. Their value range can be between $200 and $300.
5. Uncirculated: Uncirculated coins are those that have never been put into general circulation and show no signs of wear. They can be further classified as MS-60, MS-63, MS-65, and so on, with higher numbers indicating better preservation. Uncirculated 1921 Morgan silver liberty dollars can range in value from $300 to several thousand dollars, depending on their specific grade.
Please note that coin values can fluctuate over time, influenced by economic conditions, market trends, and the availability of high-grade specimens. If you're interested in buying or selling this coin, it's recommended to consult with a reputable coin dealer or expert to get an accurate valuation based on the coin's current market value.