The item represents a specific year of issue within a series of bullion coins produced by the United States Mint. It contains one troy ounce of .999 fine silver and is considered legal tender, carrying a face value of one dollar. Its composition and government backing contribute to its intrinsic and perceived worth.
This particular coin, minted in 1987, holds significance for collectors due to its relative scarcity compared to other years in the series. Its value is derived from both its silver content and its numismatic desirability. Factors such as condition, mint mark (if any), and market demand influence its pricing. The year it was made falls within the initial years of the bullion program, adding to its historical appeal for those interested in American coinage history.
The following sections will delve into topics such as grading standards relevant to collectible coins, price fluctuations influenced by precious metals markets, and strategies for building a collection of these sought-after silver bullion coins.
1. Date
The date “1987” affixed to the American Silver Eagle is not merely a chronological marker, but rather an integral identifier that distinguishes this specific coin within the larger series. It dictates its place in the historical context of the American Silver Eagle program and influences its collectibility.
-
Year of Issue Significance
The year 1987 places this particular coin in the early years of the American Silver Eagle program, which commenced in 1986. Early issues often garner increased interest from collectors due to their association with the program’s origin. The 1987 date immediately signals its relative age and historical position.
-
Production Volume
The date is directly linked to the number of coins produced in that specific year. Mintage figures for 1987 American Silver Eagles are finite and public record. This information is crucial in determining the relative scarcity of the coin compared to other years in the series, thereby influencing its potential value on the numismatic market. Lower mintage numbers typically correlate with higher collectible value.
-
Authentication and Verification
The date serves as a primary identifier for authenticating the coin. Experts use the date in conjunction with other characteristics, such as design details and metal composition, to verify its legitimacy. Counterfeit coins often exhibit inconsistencies in their date or other features, making the date a critical factor in preventing fraud.
-
Grading and Condition Assessment
Professional grading services consider the date when assessing the condition of the coin. Wear and tear are evaluated in light of the coin’s age. A coin dated 1987 is expected to show some degree of handling or environmental impact, and this expectation is factored into the grading process. A coin in exceptional condition for its age commands a higher premium.
In conclusion, the date 1987 is fundamental to understanding the value, authenticity, and historical context of the American Silver Eagle. It’s not simply a year, but a key attribute scrutinized by collectors, investors, and experts within the numismatic community.
2. Silver Content
The intrinsic value of the 1987 American Silver Eagle is directly tied to its silver content. This aspect remains a primary driver for both investors seeking a tangible asset and collectors appreciating the coin’s composition. Understanding the specifics of its silver content is crucial for evaluating its worth.
-
Weight and Purity Specification
The 1987 American Silver Eagle contains one troy ounce (31.103 grams) of .999 fine silver. This level of purity indicates that the coin is composed of 99.9% pure silver, with only trace amounts of other metals. This high purity is a defining characteristic of the series and assures a substantial silver value. The precise weight and purity are rigorously controlled during production by the United States Mint.
-
Impact on Intrinsic Value
The spot price of silver in the global market directly impacts the intrinsic value of the 1987 American Silver Eagle. Fluctuations in the price of silver will correspondingly affect the base worth of the coin. However, its total value also incorporates a premium reflecting collector demand, scarcity, and condition, exceeding its pure silver value. Investors closely monitor silver prices to determine opportune buying or selling points.
-
Distinguishing Feature from Other Coins
The silver content and purity level differentiate this coin from other circulating coinage or less pure bullion products. The United States Mint guarantees the weight and fineness, providing a level of assurance to buyers. This contrasts with older silver coinage, which may have lower silver content or varying degrees of wear, thus influencing melt value.
-
Role in Counterfeit Detection
The specified silver content serves as a benchmark for detecting counterfeit 1987 American Silver Eagles. Deviations in weight or purity can indicate a fraudulent coin. Reputable coin dealers and grading services employ techniques to verify the silver content, ensuring authenticity. Ultrasonic testing and X-ray fluorescence are examples of methods used to assess metal composition.
The 1987 American Silver Eagle’s silver content is not merely a specification; it is a defining characteristic impacting its value, authenticity, and appeal to both investors and collectors. Its guaranteed weight and purity underpin its status as a trusted and sought-after silver bullion coin.
3. Face Value
The face value of the 1987 American Silver Eagle represents its nominal legal tender value, distinct from its intrinsic silver content or numismatic value. Understanding this distinction is essential for comprehending the coin’s multifaceted worth.
-
Nominal Legal Tender Status
The 1987 American Silver Eagle carries a face value of one dollar, as inscribed on the coin. This designation signifies that it is technically legal tender within the United States for the payment of debts. However, its intrinsic silver value and collectibility far exceed this nominal amount, rendering its use as currency impractical. The face value primarily serves as a symbolic attribute acknowledging its government backing.
-
Limited Practical Application
In practice, the one-dollar face value has negligible impact on the coin’s market price or transactional use. The market value is determined by the prevailing silver spot price plus a premium based on factors such as condition, scarcity, and collector demand. Attempting to use the coin as legal tender at its face value would result in a significant financial loss for the holder. Its worth as a collectible or investment far surpasses its monetary denomination.
-
Government Guarantee and Confidence
The face value, despite its limited practical application, contributes to the coin’s overall credibility and perceived security. As a product of the United States Mint and backed by the U.S. government, the assigned face value reinforces its legitimacy. This governmental endorsement instills confidence in potential buyers and collectors, enhancing its marketability and investment appeal.
-
Distinction from Intrinsic and Numismatic Value
The face value should not be conflated with either the intrinsic silver value or the numismatic value of the 1987 American Silver Eagle. The silver value fluctuates with market prices and represents the worth of the coin’s silver content. The numismatic value is determined by collector demand and can be substantially higher, particularly for coins in exceptional condition or with rare features. The face value remains constant at one dollar, irrespective of these other fluctuating values.
In summary, the face value of the 1987 American Silver Eagle is a nominal attribute that acknowledges its status as legal tender, but its significance is primarily symbolic. Its true value lies in its silver content and collector demand, both of which far exceed its face value and drive its market price.
4. Mint Location
The location where a 1987 American Silver Eagle was minted can influence its value and collectibility. While the majority were produced at the Philadelphia Mint, variations exist that warrant careful consideration.
-
Philadelphia Mint Production
The Philadelphia Mint was the primary producer of the 1987 American Silver Eagle. Coins from this mint do not carry a mint mark, which is the standard for Philadelphia-produced bullion coins. The absence of a mint mark is a key characteristic for identifying most 1987 issues.
-
Proof Coinage at San Francisco
The San Francisco Mint produced proof versions of the American Silver Eagle in 1987. These proof coins are distinguished by their sharp details, mirrored fields, and the “S” mint mark. These proofs were specifically intended for collectors and sold separately, representing a different segment of the market.
-
Impact on Value and Collectibility
The presence or absence of a mint mark, indicative of the mint location and coin type (bullion vs. proof), significantly impacts its value. San Francisco-minted proof coins command a higher premium than the standard Philadelphia-minted bullion coins due to their limited mintage and collector-oriented finish. Identifying the mint location is thus crucial for assessing the coin’s potential worth.
-
Authentication Considerations
The mint location is a factor in authenticating the 1987 American Silver Eagle. Counterfeit coins may exhibit incorrect mint marks or lack the expected characteristics of coins produced at a specific mint. Knowledge of the mint’s production practices and identifying marks is essential for detecting forgeries.
In conclusion, the mint location of a 1987 American Silver Eagle whether Philadelphia or San Francisco is a defining characteristic that influences its market value, collectibility, and authentication. Understanding the nuances associated with each mint is vital for both collectors and investors.
5. Design Details
The visual elements present on the 1987 American Silver Eagle are not merely aesthetic; they are key identifiers for authentication, grading, and understanding its historical context. The design, consistent across the series, contributes significantly to its recognition and appeal.
-
Obverse Imagery: Walking Liberty
The obverse features Adolph A. Weinman’s “Walking Liberty” design, originally used on the half-dollar from 1916 to 1947. Liberty is depicted striding towards the sunrise, draped in the American flag, carrying laurel and oak branches, symbolizing civil and military glory. This iconic image is a hallmark of American coinage and contributes to the coin’s widespread recognition. Subtle variations in the strike and details of the Walking Liberty design can influence grading and collector interest, particularly concerning the sharpness of the details in Liberty’s gown and the sun’s rays.
-
Reverse Imagery: Heraldic Eagle
The reverse showcases John Mercanti’s heraldic eagle design, featuring an eagle behind a shield, clutching an olive branch and arrows, symbolizing peace and defense, respectively. Thirteen stars above the eagle represent the original thirteen colonies. The design serves as a visual representation of American strength and sovereignty. Variations in the die strike can affect the clarity of the eagle’s feathers and other fine details, impacting the coin’s grade and visual appeal.
-
Inscriptions and Lettering
Inscriptions such as “LIBERTY,” “E PLURIBUS UNUM,” “UNITED STATES OF AMERICA,” and “1 OZ. FINE SILVER – ONE DOLLAR” are integral to the coin’s design. The font style, placement, and clarity of these inscriptions are examined during grading and authentication. Variations in letter spacing or font irregularities can indicate a counterfeit or a poorly struck coin. These inscriptions also provide key information about the coin’s composition, denomination, and national origin.
-
Edge Design
The 1987 American Silver Eagle features a reeded edge, consisting of a series of vertical grooves around the coin’s circumference. This edge design is consistent across the series and serves as an anti-counterfeiting measure. The sharpness and regularity of the reeding are assessed during grading. Damage or wear to the reeded edge can lower the coin’s grade and value.
These design details, from the iconic imagery to the subtle nuances of the inscriptions and edge, collectively define the 1987 American Silver Eagle. Careful examination of these elements is crucial for authentication, grading, and appreciating the coin’s artistic and historical significance.
6. Condition Grading
Condition grading is paramount in determining the value of a 1987 American Silver Eagle. Collectors and investors rely on established grading standards to assess the physical state of a coin, influencing its desirability and market price. The condition grade reflects the extent of wear, surface imperfections, and overall eye appeal.
-
Sheldon Scale Application
Professional grading services, such as PCGS and NGC, utilize the Sheldon Scale, ranging from 1 to 70, to assign a numerical grade. A coin graded MS70 (Mint State 70) represents a flawless specimen, while a coin graded lower reflects increasing degrees of wear or damage. The Sheldon Scale provides a standardized framework for evaluating and communicating a coin’s condition.
-
Impact of Wear and Tear
Wear and tear, resulting from handling or environmental exposure, significantly affect the grade. Scratches, abrasions, and loss of detail are detrimental to the coin’s appearance and lower its grade. Careful handling and storage are essential to preserve the condition of a 1987 American Silver Eagle. Even minor imperfections can substantially reduce the coin’s value compared to a pristine example.
-
Surface Preservation and Eye Appeal
The surface quality and eye appeal are critical components of condition grading. Original luster, absence of toning or spotting, and overall aesthetic appeal contribute positively to the grade. A coin with exceptional eye appeal, even with minor imperfections, may command a higher premium than one with a higher numerical grade but lacking visual allure.
-
Third-Party Grading Services
Submitting a 1987 American Silver Eagle to a reputable third-party grading service provides an objective assessment of its condition. These services encapsulate the coin in a protective holder, guaranteeing its authenticity and condition. Graded coins are more readily traded and command higher prices in the market due to the assurance of their condition. The grading service’s reputation directly impacts the market’s acceptance of the assigned grade.
In conclusion, condition grading is a critical determinant of the value of a 1987 American Silver Eagle. Collectors and investors should understand the grading standards and the impact of wear, surface preservation, and professional certification on the coin’s market price. A well-preserved and accurately graded 1987 issue represents a more secure and potentially profitable investment.
7. Mintage Figures
The number of coins produced in 1987, known as mintage figures, directly influences the scarcity and, consequently, the potential value of a specific vintage of the American Silver Eagle. The mintage numbers serve as a fundamental data point for collectors and investors seeking to evaluate the rarity of this particular year’s issue.
-
Official Mintage Records
The United States Mint maintains official records of mintage figures for all American Silver Eagles, including the 1987 issue. These records represent the definitive source of information regarding the quantity of coins struck. Discrepancies between reported mintage figures and actual surviving numbers can influence collectibility. Official figures also serve as the benchmark against which the authenticity of purported rare varieties is measured.
-
Comparison to Other Years
The mintage figure for 1987 can be compared to those of other years in the American Silver Eagle series. Years with significantly lower mintage numbers often command higher premiums due to their relative scarcity. Analyzing the mintage figures across the entire series provides a context for assessing the rarity of the 1987 coin within the broader market.
-
Impact on Market Value
A lower mintage figure generally translates to a higher potential market value, assuming demand remains constant or increases. However, other factors such as condition, grading, and market sentiment also play a role. A high-grade 1987 American Silver Eagle with a relatively low mintage figure is likely to command a substantial premium compared to a lower-grade example or one from a year with significantly higher production.
-
Influence on Collector Demand
Mintage figures directly shape collector demand. Knowing that a particular year had a lower production run can increase interest among collectors seeking to complete a set or acquire a specific rarity. Publications and online resources dedicated to coin collecting often highlight mintage figures as a key factor in determining the desirability of a coin.
In summary, the mintage figure for the 1987 American Silver Eagle is a crucial piece of information for assessing its rarity, value, and appeal within the broader numismatic market. Analyzing this figure in conjunction with other factors, such as condition and demand, provides a comprehensive understanding of its potential as a collectible or investment.
8. Market Price
The market price of a 1987 American Silver Eagle represents the dynamic value assigned to it through supply and demand within the numismatic and precious metals markets. This price reflects a confluence of factors beyond its intrinsic silver content, making it a crucial consideration for collectors and investors.
-
Spot Price Influence
The prevailing spot price of silver exerts a fundamental influence on the coin’s market price. As the 1987 issue contains one troy ounce of .999 fine silver, its base value is directly correlated to silver market fluctuations. However, the coin’s market price invariably exceeds the spot price, incorporating a premium reflecting factors like scarcity, condition, and collectibility. Monitoring silver market trends is essential for gauging the underlying value of the coin.
-
Numismatic Premium
The numismatic premium represents the additional value assigned to the coin due to its collectibility, historical significance, and condition. This premium can vary significantly based on factors such as grading, rarity, and market demand. A 1987 American Silver Eagle graded MS70 will command a substantially higher premium compared to a circulated example. The numismatic premium reflects the coin’s desirability among collectors, distinguishing it from a generic silver bullion product.
-
Dealer Markups and Transaction Costs
The market price is also influenced by dealer markups and transaction costs. Coin dealers and online marketplaces typically add a margin to their selling prices to cover operational expenses and profit. Transaction costs, such as shipping, insurance, and payment processing fees, can further impact the final market price paid by the buyer. Comparing prices across multiple sources is advisable to secure a competitive market price.
-
Market Sentiment and Economic Factors
Broader market sentiment and economic conditions can influence the demand for and, consequently, the market price of 1987 American Silver Eagles. During periods of economic uncertainty, investors may turn to precious metals as a safe-haven asset, increasing demand and driving up prices. Conversely, during periods of economic stability, demand may moderate, potentially leading to price adjustments. External events and investor psychology can significantly impact the coin’s market price.
In essence, the market price of a 1987 American Silver Eagle is a complex interplay of the spot price of silver, numismatic premium, dealer markups, and prevailing market sentiment. Evaluating these factors is crucial for both buyers and sellers to make informed decisions within the numismatic and precious metals markets, ensuring they understand the true value and potential of this particular silver coin.
9. Collectibility
The collectibility of a 1987 American Silver Eagle arises from a combination of factors that extend beyond its intrinsic silver value. These factors include historical context, condition, mintage figures, and market demand, each contributing to its desirability among numismatists and investors alike.
-
Historical Significance
The year 1987 falls within the early years of the American Silver Eagle program, which began in 1986. Coins from this period hold a certain historical appeal, as they represent the nascent stages of a now-iconic bullion series. Collectors often seek examples from these initial years to complete sets or to possess a tangible piece of American coinage history. The historical context adds value beyond the mere silver content.
-
Condition and Grading
The physical condition of a 1987 American Silver Eagle significantly influences its collectibility. Coins in uncirculated condition, particularly those graded by reputable third-party services such as PCGS or NGC, command higher premiums. Collectors prioritize examples with strong eye appeal, minimal imperfections, and original luster. A certified grade provides assurance of the coin’s condition and authenticity, enhancing its desirability.
-
Rarity and Mintage Numbers
While not the lowest mintage year in the series, the 1987 American Silver Eagle’s mintage figures contribute to its collectibility. Lower mintage numbers generally translate to increased scarcity, driving up demand and market prices. Collectors analyze mintage figures to identify potentially undervalued or rare examples. Relative scarcity, even within a common series, can significantly enhance a coin’s collectibility.
-
Market Demand and Sentiment
Market demand and investor sentiment play a crucial role in determining the collectibility of a 1987 American Silver Eagle. Factors such as economic conditions, precious metals prices, and collector trends influence the overall demand for silver bullion and numismatic items. Periods of economic uncertainty often lead to increased demand for tangible assets like silver coins, driving up prices and enhancing collectibility. Conversely, shifts in collector preferences or market sentiment can impact demand and prices.
The collectibility of a 1987 American Silver Eagle is a complex interplay of historical context, condition, mintage figures, and market demand. Each element contributes to its overall desirability among collectors and investors, influencing its value and position within the broader numismatic landscape.
Frequently Asked Questions
This section addresses common inquiries regarding the 1987 American Silver Eagle, providing concise and informative answers to assist collectors and investors.
Question 1: What factors determine the value?
The value is multifaceted, influenced by the spot price of silver, numismatic premium based on condition and rarity, and overall market sentiment. Grading by reputable services significantly impacts the numismatic premium.
Question 2: How can a counterfeit be identified?
Examine the coin’s weight, diameter, and thickness against specifications. Compare design details to authentic examples, and scrutinize the quality of the strike. Employ testing methods to verify the silver content.
Question 3: What is the significance of the mintage figure?
The mintage figure indicates the number of coins produced in 1987. Lower mintage numbers generally correlate with increased scarcity and potential for higher value, assuming consistent or increasing demand.
Question 4: Is professional grading necessary?
While not mandatory, professional grading by services like PCGS or NGC provides an objective assessment of condition and authenticity. Graded coins typically command higher prices and are more readily traded.
Question 5: How should a 1987 American Silver Eagle be stored?
Store the coin in a protective holder, such as a capsule or slab, to prevent scratches, abrasions, and environmental damage. Maintain a stable temperature and humidity level to minimize the risk of toning or corrosion.
Question 6: Does the absence of a mint mark indicate a specific mint location?
Yes, the absence of a mint mark on a 1987 American Silver Eagle typically indicates that it was produced at the Philadelphia Mint. Proof versions, produced at the San Francisco Mint, bear an “S” mint mark.
Understanding these aspects contributes to informed decisions when acquiring or evaluating a 1987 American Silver Eagle.
The following section will present expert opinions on the long-term investment potential.
1987 American Silver Eagle
The following guidelines offer strategic approaches to acquiring and maintaining the integrity of the 1987 issue, maximizing its potential value.
Tip 1: Prioritize Certified Examples: Seek examples graded by reputable third-party services (PCGS or NGC). Certification provides assurance of authenticity and condition, facilitating informed valuation.
Tip 2: Scrutinize Seller Reputation: Acquire the coin from established and reputable dealers. Verify their credentials and review customer feedback to minimize the risk of acquiring counterfeit or misrepresented examples.
Tip 3: Examine Mintage Figures: Compare the 1987 mintage numbers to those of other years in the series. Relative scarcity can influence long-term appreciation, although condition remains paramount.
Tip 4: Understand Market Dynamics: Monitor silver spot prices and numismatic market trends. Knowledge of these dynamics enables informed purchasing decisions and identifies potential buying opportunities.
Tip 5: Implement Proper Storage Protocols: Store the coin in inert, archival-quality holders to prevent environmental damage. Controlled temperature and humidity are crucial for preserving its luster and preventing toning.
Tip 6: Consider Long-Term Investment Horizons: Numismatic investments typically require a long-term perspective. Market fluctuations are inherent; patience and a strategic approach are essential for realizing potential gains.
Tip 7: Conduct Due Diligence on Proof Examples: If considering a proof version, verify the “S” mint mark and scrutinize the surface quality. Proof coins are often more susceptible to handling marks; pristine examples command significant premiums.
These strategies serve to mitigate risk, enhance value, and ensure the enduring integrity of a 1987 American Silver Eagle holding.
The final section of this comprehensive guide offers expert opinions on the investment potential of silver bullion.
Conclusion
This analysis has examined the 1987 American Silver Eagle, detailing its composition, mintage, design, and market value determinants. Its position within the broader American Silver Eagle series has been clarified, and factors influencing its collectibility and investment potential have been outlined. The year of issue contributes to its historical significance, while silver content and condition grading remain paramount in assessing its worth.
The 1987 American Silver Eagle, therefore, represents a tangible asset with both intrinsic and numismatic value. Prudent evaluation of market dynamics, coupled with informed acquisition and preservation strategies, is essential for realizing its potential. This coin should be viewed as a component of a diversified portfolio, requiring ongoing monitoring and a long-term investment horizon.
