Are you a coin collector looking for the 1887 Morgan silver dollar? This classic U.S. coin is highly sought after due to its historical value and rarity, so it’s no wonder why collectors are always on the lookout for one!
In this blog post, we’ll explore all aspects of the 1887 Morgan silver dollar, from its features (such as its obverse and reverse design) and history to how much it might be worth in various conditions. We’ll also discuss common errors found with these coins that could make them even more valuable and any other tips to help you determine if your coin could fetch a high price in the market if you were to sell.
So whether you are just starting out in collecting coins or are looking for an investment opportunity with potentially high returns, read on to learn more about what makes the 1887 silver dollar such an attractive option!
1887 Silver Dollar Details
- Category: Morgan dollars
- Mints: Philadelphia, New Orleans, San Francisco
- Total mintage: 33,611,710
- Obverse designer: George T. Morgan
- Reverse designer: George T. Morgan
- Edge: Reeded
- Diameter: 38.1 millimeters (1.5 inches)
- Thickness: 2.9 millimeters (0.09 inches)
- Composition: 90% silver, 10% copper
- Weight: 26.73 grams
The 1887 silver dollar is a popular coin among collectors. It was designed by George T. Morgan, the same person who designed the popular Morgan dollars of 1878 to 1904. The obverse features a bust of Lady Liberty with thirteen stars around her and the reverse features an eagle clutching arrows and an olive branch.
The 1887 silver dollar has a mintage of 33,611,710 coins, making it the most common of all Morgan Silver Dollars. These coins contain 0.77344 troy ounces of silver, giving them an intrinsic value that is much higher than their face value. As such, many people collect these coins for their historical significance as well as for potential profit.
The 1887 version of the Morgan silver dollar was minted in three locations – Philadelphia, New Orleans and San Francisco. Each location had its own unique features and design elements that made the coins distinct from one another.
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1887 Silver Dollar Value Chart
1887 Silver Dollar Value Chart |
|||||
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated | Proof |
| 1887 No Mint Mark Silver Dollar | $40 | $48 | $53 | $73-$252 | $4,367 |
| 1887 No Mint Mark Silver Dollar – 7 Over 6 | $51 | $61 | $119 | $524-$2,337 | / |
| 1887 O Silver Dollar | $40 | $51 | $57 | $170-$2,190 | / |
| 1887 O Silver Dollar – 7 Over 6 | $44 | $57 | $148 | $807- $38,032 | / |
| 1887 S Silver Dollar | $39 | $51 | $57 | $215-$1,758 | / |
1887 Silver Dollar Values and Variety Guide
The Morgan silver dollar is the most famous of all American silver coins. Let’s take a closer look at the different varieties and values of 1887 Morgan silver dollars.
1887 “No Mint Mark” Silver Dollar
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1887
- Face value: $1
- $ price: $40 to $4,367
- Quantity produced: 20,290,710
- Designer: George T. Morgan
This variety of 1887 Morgan silver dollar is the most common one, coming in at 20,290,710 coins minted that year. These coins were minted at the Philadelphia location and can be identified by their lack of a mint mark, which was customary for Philadelphia’s coins. Since it was produced at a higher rate, it is not as valuable as its counterparts, but still worth a pretty penny nonetheless.
The value of an 1887 “No Mint Mark” silver dollar in “Good” condition is currently valued at around $40, which isn’t bad for a coin with a face value of one dollar! The same coin in “Fine” condition can fetch up to $48. If you find one in “Extremely Fine” condition, its value could go up to $53.
In “Uncirculated” condition, the coins can range from being worth $73 up to $252, and beyond – one even sold at auction recently for $11,000!
There was a Proof coin at this US Mint location as well. A Proof coin is a coin that has been struck on specially prepared blanks using polished dies, resulting in an extraordinary level of detail and surface quality. In pristine condition, the value of an 1887 “No Mint Mark” silver dollar Proof coin is about $4,367, and – get this – a nearly-perfect Proof sold at an auction not too long ago for $90,000!
1887 “No Mint Mark” Silver Dollar – 7 Over 6 Variety
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: None
- Place of minting: Philadelphia
- Year of minting: 1887
- Face value: $1
- $ price: $51 to $2,337
- Quantity produced: n/a
- Designer: George T. Morgan
Minted in Philadelphia, this variety is a rare coin with the number “7” punched over the number “6” in the date on the obverse side. Since this mistake was quite unique and relatively rare, no one is sure how many were made, and it can fetch some high prices depending on its condition.
In “Good” condition, an 1887 “7 Over 6” silver dollar from the Philadelphia Mint can be worth around $51. In “Fine” condition, its value is around $61. The value increases to $119 in “Extremely Fine” condition and then between $524 and $2,337 for a coin in pristine “Uncirculated” condition!
There are no Philadelphia Proof coins known to have this variety.
1887 “O” Silver Dollar
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: O
- Place of minting: New Orleans
- Year of minting: 1887
- Face value: $1
- $ price: $40 to $2,190
- Quantity produced: 11,550,000
- Designer: George T. Morgan
The 1887 “O” silver dollar was minted at the New Orleans location, making it a bit rarer than its Philadelphia counterpart. This variety of Morgan silver dollar consists of 11,550,000 coins and can be identified by an “O” mint mark located on the reverse side near the bottom.
The values of the 1887 “O” silver dollar are similar to those of the “No Mint Mark” variety. For example, an 1887 “O” silver dollar that is in “Good” condition has a current estimated value of $40, while the same silver dollar in “Fine” condition could fetch up to $51.
“Extremely Fine” coins can be worth around $57, and those that are in “Uncirculated” condition can be worth between $170 and $2,190, which is still very impressive, considering the face value is one dollar. One even sold at auction for around $40,000!
Finally, there were no 1887 “O” silver dollar Proof coins produced.
1887 “O” Silver Dollar – 7 Over 6 Variety
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: O
- Place of minting: New Orleans
- Year of minting: 1887
- Face value: $1
- $ price: $44 to $38,032
- Quantity produced: n/a
- Designer: George T. Morgan
This next variety of 1887 Morgan silver dollar was minted at the New Orleans location and is considered a rare coin, due to the same unique variety that you will find in the Philadelphia version. The number “7” was punched over the number “6” in the date on the obverse side of the coin making it quite special.
This variety has an estimated value of $44 for a coin in “Good” condition and $57 in “Fine” condition. For an “Extremely Fine” specimen, the value increases to $148, and in “Uncirculated” condition it can fetch $807 for nearly perfect and then a whopping $38,032 for a pristine “Uncirculated” grade! So if you have a perfect version of this variety, you’re sitting on a potential gold mine.
There are no 1887 “O” silver dollar Proof coins known to exist with this “7 Over 6” variety. As such, none can be found on the market today.
1887 “S” Silver Dollar
- Type: Morgan dollar
- Edge: Reeded
- Mint mark: S
- Place of minting: San Francisco
- Year of minting: 1887
- Face value: $1
- $ price: $39 to $1,758
- Quantity produced: 1,771,000
- Designer: George T. Morgan
The 1887 “S” silver dollar was minted at the San Francisco location and can be identified by an “S” mint mark located on the reverse side near the bottom. This variety consists of 1,771,000 coins and its value is closely related to its condition.
In “Good” condition, an 1887 “S” silver dollar can be worth around $39. In “Fine” condition, its value is around $51. The value increases to $57 in “Extremely Fine” condition and then between $215 and $1,758 for a coin in pristine “Uncirculated” condition, but could sell for more at auction (one even sold for $8,000)!
There aren’t any “S” Proof silver dollar coins for the 1887 year, so none can be found on the market today.
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1887 Silver Dollar History
As previously mentioned, the 1887 Morgan silver dollar was designed by George T. Morgan, who was the seventh Chief Engraver of the United States Mint. Morgan silver dollars were minted from 1878 to 1904, were named after the designer, and have become extremely recognizable in the world of coin collecting.
George T. Morgan was a British-born engraver who worked at the United States Mint from 1876 to 1925. He had the honor of designing one of America’s most iconic coins, plus some variety coins of a few others.
The silver used to mint the 1887 Morgan dollar was sourced from the Comstock Lode, which was a major silver lode discovered in Nevada in 1859.
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1887 Silver Dollar Grading
When it comes to grading 1887 silver dollars, there are several factors that must be taken into consideration. The most important factor is the condition of the coin itself. Coins can range from “Good” to “Uncirculated,” with each grade representing a different level of wear and tear on the coin.
Another factor to consider when grading a 1887 silver dollar is if it has any mint errors. Coins may have slight differences in design, such as a 7 punched over a 6 in the date, or some other deformity that makes it more valuable than standard specimens.
Finally, coins should also be inspected for signs of cleaning or damage as these will further reduce their value. By taking all of these factors into account, you can determine the grade of your 1887 silver dollar and its potential value.
If you happen to come across one of these coins, make sure you do your research before purchasing as they can be quite valuable. Regardless, the 1887 silver dollar is a beautiful and rare piece of US coinage that will continue to increase in value over time.
Lists of 1887 Silver Dollar Error Coins
As with most denominations and most dates, there are 1887 silver dollar varieties that can be found with errors on them. Each error is unique and can make the coin more valuable than standard silver dollars. Let’s dive in a little deeper:
1887 Silver Dollar Double Die Obverse
The 1887 silver dollar double die obverse is an extremely rare variety of the Morgan dollar. It can be identified by a doubled image on the obverse side, especially noticeable on the thirteen stars. This type of coin is very hard to find and commands a high price if it does come up for sale, making it one of the most sought-after varieties in all of US coinage.
1887 Silver Dollar Repunched Mint Mark
Another rare variety is the 1887 silver dollar repunched mint mark. This variety can be identified by a faint “S” in the area of the regular mint mark, indicating that it has been repunched at least once. Coins like this are very hard to find and may command a premium price if they do appear on the market.
One sold at auction recently for about $2,700.
1887 Silver Dollar Frequently Asked Questions
Now that you know more about the 1887 silver dollar and its potential value, here are some frequently asked questions for further reference.
What Should I Do if I Find a 1887 Morgan Silver Dollar?
If you come across a 1887 Morgan silver dollar, make sure to research it before making any purchases! Its condition, mint error, and other factors will affect its value and can help you determine if the coin is worth investing in or not.
Should I Clean My 1887 Morgan Silver Dollar?
No, you should never clean a coin. Cleaning can damage surfaces and reduce their value. Always inspect the coin for any signs of wear or damage before making any purchases. If you are unsure, it is best to consult with a professional numismatist who can help assess the condition of your 1887 Morgan silver dollar.
Conclusion
By being aware of the key factors that affect the 1887 silver dollar’s value, you can determine whether or not it is a worthwhile investment. The condition of the coin, mint error, and any other unique features must all be taken into account in order to make an informed decision. With this knowledge in mind, you’ll be able to confidently own and enjoy your 1887 Morgan silver dollar! Happy collecting!