From the description it would seem as though the line through the "S" is the result of a die crack or a scratch on the die. This would create the line you have described. Some die cracks are collectable but generally those of most interest to collectors are those which pass through the design from one side of the coin to the other. A small crack does not generally increase the value of a coin unless it is unusual and demand for it is high. 1923 Peace Dollars are valued from $18 to $30 in circulated condition. Uncirculated values range widely depending upon the which mint struck the coin.
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A 1924 United States Peace Dollar is worth anywhere from $20.00 to $300.00.
That is called a Peace dollar. The red book value is between $17 and $40 depending on condition.
The is no 1921S Peace dollar; Peace dollars were not produced in San Francisco ("S" mintmark) in 1921. If your 1921 dollar coin is a Peace dollar, it was produced in Philadelphia and has no mintmark; if it has an "S" mintmark, it is a Morgan dollar produced in San Francisco).
1928 would make it a Peace dollar. Pictures can be easily found through a search on Google Images.
The last Peace dollar was issued in 1935 so it can't be a 1942 Peace dollar. Look at the coin again and post new question.