What is the Value of an 1887 Silver Dollar- A Comprehensive Guide to Its Worth
What is an 1887 silver dollar worth? This question often comes up for collectors and enthusiasts of American coinage, as the 1887 silver dollar holds a unique place in the history of American numismatics. With its distinctive design and limited mintage, the 1887 silver dollar has become a highly sought-after piece among collectors, and its value can vary widely depending on several factors.
The 1887 silver dollar, also known as the Morgan dollar, was minted by the United States Mint from 1878 to 1904. Designed by George T. Morgan, the coin features an obverse with a profile portrait of Lady Liberty and a reverse with an eagle, olive branch, and shield. The 1887 silver dollar is particularly notable for its low mintage, with only 484,000 pieces produced at the Philadelphia Mint. This scarcity, combined with the coin’s historical significance, has contributed to its value.
The value of an 1887 silver dollar can be influenced by several factors, including its condition, mint mark, and rarity. Uncirculated coins, which have never been in circulation, are typically worth more than circulated coins. The condition of the coin is graded on a scale from MS-60 (Mint State, 60) to MS-70 (Mint State, 70), with MS-70 being the highest grade and indicating a coin in perfect condition.
Additionally, the mint mark plays a role in determining the coin’s value. Coins minted at the Philadelphia Mint do not have a mint mark, while those minted at the San Francisco Mint have an “S” mint mark, and those minted at the New Orleans Mint have an “O” mint mark. Coins with an “S” or “O” mint mark are rarer and can command higher prices.
Rarity also affects the value of an 1887 silver dollar. The coin is considered rare, but not as rare as some other Morgan dollars, such as the 1895-S or the 1894-S. However, it is still a valuable coin for collectors, and its value can range from a few hundred dollars for a circulated coin in average condition to tens of thousands of dollars for an uncirculated coin in high grade.
In conclusion, the value of an 1887 silver dollar is influenced by its condition, mint mark, and rarity. While it is not the rarest Morgan dollar, it is still a highly sought-after piece in the numismatic community. For collectors and enthusiasts, determining the worth of an 1887 silver dollar requires careful consideration of these factors and consultation with a professional appraiser or coin dealer.
