SPOILER ALERT: This post contains spoilers for “A Dream and A Memory,” the series finale of “1923,” now streaming on Paramount+.

1923 Series Finale: Alex and Spencer's Death, Time Jump, 1944 Prequel

The “Yellowstone” universe, built on grit, loyalty, and sacrifice, delivered one of its most emotional finales yet in the Season 2 conclusion of 1923. Taylor Sheridan’s prequel series, which charts the early struggles of the Dutton family in Montana, ended with heartbreak and closure — most notably for the beloved couple Spencer (Brandon Sklenar) and Alexandra (Julia Schlaepfer).

A Love Story Cut Short

After a grueling journey filled with separation, danger, and trauma, Spencer and Alex finally reunite. But the much-anticipated moment of happiness quickly dissolves into tragedy. Stranded in a snowstorm with a British couple who had offered her a ride, Alex nearly freezes to death just before Spencer, by sheer fate, arrives by train and finds her.

Despite their emotional reunion and her pregnancy, Alex is rushed to Bozeman for treatment. There, she is faced with an impossible decision: amputations and loss of her child or risking her life. She chooses her baby, gives birth prematurely, and cradles the infant as frostbite claims her life. The Dutton ranch — the place she and Spencer were fighting to reach — remains unseen by her.

With '1923' Ending, 'Yellowstone' Prequel '1944' Saddles Up Next

In a touching epilogue, Spencer lives another 45 years raising their son, John Dutton II, the father of Yellowstone’s John Dutton (Kevin Costner). He never remarries, though he fathers another son later. Spencer’s final scene shows him lying beside Alex’s grave, imagining a heavenly 1920s party reunion with her — a visual echo of Titanic’s iconic final moment.

Cast Reflect on Their Characters’ Fates

Both Sklenar and Schlaepfer admitted the finale left them in tears.

“That finale, I couldn’t read it without losing my sh*t and crying,” Sklenar said. “It just became this chunk in my [script] book that I couldn’t look at.”

Schlaepfer agreed, calling the season “a doozy,” adding that Alex’s death hit deeply after spending years with the character.

“When Alex dies, a chunk of me dies with her,” she said. “It’s just really heartbreaking.”

1923 finale leaves fans divided over 'tragically beautiful' ending that left them in tears - The Mirror US

Their chemistry, which anchored much of 1923’s emotional pull, was clear even off-screen. Their reunion scene was the first they shot together in Season 2 — and their last moment filmed together was a quiet stare as Elsa’s voiceover revealed they would never meet again.

Parallels to “1883” and What Comes Next

Alex’s death mirrors that of Spencer’s sister Elsa (Isabel May), who narrates 1923. Both die young, far from home, after enduring profound trauma. Schlaepfer noted the beauty of this parallel, saying, “It is such an honor to be part of the lineage.”

As for what’s next, Paramount is moving forward with 1944, a new prequel set around World War II. While plot details are still under wraps, the series could focus on Spencer’s son, John Dutton II.

Sklenar expressed interest in returning as an older Spencer, joking about a long-term Dutton timeline:

“We are going to do 1933, ‘43, ‘53, ‘63. I’m really looking forward to ‘63. Spencer at Woodstock — I think he’d be really big into Creedence Clearwater Revival.”

Schlaepfer warned him not to get ahead of things, but both actors agreed their characters had forever changed them.

“Alex has changed who Julia is, forever,” Schlaepfer said. “I am so grateful for it.”