1887 Morgan Silver Dollar
The 1887 Morgan Silver Dollar was struck at the Philadelphia Mint and had a massive total mintage of over 20 million coins. This year held the record for the most minted until 1921. Due to the amount of 1887 Morgan Dollar minted at this time, they are plentiful on the market and readily available in most grades for collectors on any spectrum. It is believed that there are Mint State 1887 Morgan Silver Dollars available in the millions. Continue reading to learn more about 1887 Morgan Silver Dollar Value.
AUCTION RECORD: $34,500 • MS68
Image Source: PCGS
History of the 1887 Morgan Silver Dollar
The 1887 Morgan Silver Dollar was released from storage over many decades starting around the late 1930s and up until the 1960s. Due to the amount of Mint State coins available, there is often little interest in the plentiful circulated, lower grade coins. The majority of the 1887 Morgan Dollar have an average strike, but can vary from flat to rather sharp. The luster is typically more on the satiny side versus being frosty, and there are enough of these coins on the market to cherrypick for one that would make the perfect addition to your Morgan Dollar series collection.
1887 Morgan Silver Dollar Value
The 1887 Morgan Silver Dollar value ranges from under a hundred dollars to upwards of the low tens of thousands. These coins are plentiful and the 1887 Morgan Silver Dollar worth reflects its availability. These coins are much more affordable and accessible than some of the more highly sought after coins in the Morgan Dollar series, yet would a great addition to any collection and easy enough to gift to fellow friends and collectors without breaking the bank.
Type of coin: Silver Dollar
Year: 1887 Morgan Silver Dollar
Morgan Silver Dollar Mint Mark: Philadelphia
Total mintage:20,290,000
Metal content: 90% Silver, 10% Copper
Face value: One dollar
Weight: 26.73 grams
Edge: Reeded
Designer: George T. Morgan
Diameter: 38.10 millimeters
FAQ
What factors influence the 1887 Morgan Silver Dollar value?
The Morgan Silver Dollar value, particularly for the 1887 edition, is determined by its mint mark, condition (or grade), rarity, and silver content. Special varieties and recognized errors can also significantly impact its value.
How much is a typical 1887 Morgan Silver Dollar worth?
A typical 1887 Morgan Silver Dollar in circulated condition might be worth around $35 to $60. Uncirculated examples, depending on their grade, can fetch from $50 to several hundred dollars.
What is the value of an 1887-O Morgan Silver Dollar?
The 1887-O Morgan Silver Dollar, minted in New Orleans, can vary in value from about $30 in lower grades to over $200 for higher uncirculated grades. The value increases significantly for coins in MS65 condition or higher due to their rarity.
Are there any rare varieties of the 1887 Morgan Silver that significantly impact its value?
Yes, the 1887 Morgan Silver Dollar has known varieties such as the 1887/6 overdate and the 1887 "Hot Lips" doubled die obverse, which are highly sought after by collectors and can command higher prices due to their rarity.
What is the highest grade and value achieved by an 1887 Morgan Silver Dollar?
The highest grades for an 1887 Morgan Silver Dollar can reach up to MS67, with values that can exceed several thousand dollars, especially for coins with exceptional eye appeal and those with significant varieties.
How does the mint mark affect the 1887 Morgan Silver Dollar value?
The mint mark on an 1887 Morgan Silver Dollar (e.g., "O" for New Orleans, "S" for San Francisco, or no mint mark for Philadelphia) significantly affects its value. Coins with the "S" mint mark are generally more valuable, followed by "O" and then Philadelphia issues, with variations depending on condition and rarity.
Can the silver content of the 1887 Morgan Silver Dollar influence its value?
Yes, the silver content of the 1887 Morgan Silver Dollar, which is 90% silver, provides a base value tied to the current silver bullion market. However, the numismatic value for collectors often exceeds the melt value.
Where is the best place to sell an 1887 Morgan Silver Dollar?
The best places to sell an 1887 Morgan Silver Dollar include reputable coin dealers, numismatic auctions, coin shows, and online platforms that specialize in coins. Ensuring the coin's authenticity and condition can help achieve the best price.
What should collectors look for when purchasing an 1887 Morgan Silver Dollar?
Collectors should look for the coin's overall condition, mint mark, any notable varieties, and signs of original luster. Purchasing graded coins from reputable grading services can also provide assurance of the coin's authenticity and condition.
How should I store my 1887 Morgan Silver Dollar to preserve its value?
To preserve the value of your 1887 Morgan Silver Dollar, store it in a cool, dry place, ideally in a protective holder or capsule designed for coin storage. This protects the coin from environmental damage and physical wear.
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