We know for sure that there was no '11, and there was no '31. So conclusively I can say it's the 1921 25¢ in low grade, and low mintage.
If I remember correctly, the ones on that design look more like an "I" that a 1. Could be a worn down 4.
In the 1960's my Dad pulled a lot - like 15 rolls of slick buffalo nickels out of nickel rolls. He got this acid stuff that brought the date out. Some of them were real rarities, but the nickels looked like..... well, let's just say that they weren't pretty!