The 1887 Morgan silver dollars have value as both numismatic coins and as silver bullion. Keep reading to learn more about these coins.
Specifications
Type: Morgan Silver Dollar
Year: 1887
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $23.40
The US minted the 1887 silver dollar with no mint mark and also the 1887 O silver dollar and 1887 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath.
| Series | Location | Quantity Minted |
|---|---|---|
| 1887 | Philadelphia | 20,290,000 |
| 1887 O | New Orleans | 11,550,000 |
| 1887 S | San Francisco | 1,771,000 |
Value
This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $23.40. This melt value is calculated from the current silver spot price of $30.25 per ounce.
The 1887 silver dollar with no mint mark is worth around $48 in very fine condition. In extremely fine condition the value is around $49. In uncirculated condition the price is around $70 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $215.
The 1887 O silver dollar is worth around $48 in very fine condition. In extremely fine condition the value is around $49. In uncirculated condition the price is around $150 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $2,000.
The 1887 S silver dollar is worth around $50 in very fine condition. In extremely fine condition the value is around $55. In uncirculated condition the price is around $200 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,750.
Proof coins with no mint mark are available and they are each valued at around $3,750 in PR 63 condition. There were only 710 proof coins minted.
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7 Over 6 Error Coins
There is an overlap error for both the 1887 silver dollar with no mint mark and the 1887 O silver dollar. On these error coins the number 7 is minted over the number 6. These error coins are more valuable than the standard coins, especially in uncirculated condition.
The 1887 silver dollar with no mint mark 7 over 6 error coin is worth around $125 in very fine condition. In extremely fine condition the value is around $185. In uncirculated condition the price is around $650 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $2,250.
The 1887 O silver dollar 7 over 6 error coin is worth around $120 in very fine condition. In extremely fine condition the value is around $300. In uncirculated condition the price is around $800 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $35,000.
Grading System
Very fine- Two thirds of Liberty's hair lines from above her forehead to her ear are visible.
Extremely fine- Liberty's hair lines and ear look strong.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks are present but they are barely noticeable.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
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