The item in question is a commemorative coin issued by the United States Mint in 1987. This particular coin is struck from 90% silver and is designed to celebrate the centennial of the Statue of Liberty and Ellis Island. Its face value is one dollar, making it legal tender, although its value as a collectible typically far exceeds that amount.
These coins serve as tangible reminders of American history and ideals. They offer a connection to the nation’s immigrant past and the symbolism of liberty represented by the iconic statue. Beyond their intrinsic silver content, these coins possess numismatic value derived from their limited mintage, historical significance, and condition. They represent a popular segment of the commemorative coin market, often sought after by collectors interested in American history and coinage.
Further discussion will cover the coin’s design elements, variations in mint marks and grades, factors influencing its market value, and resources for collectors interested in acquiring or learning more about this piece of American coinage.
1. Centennial Celebration
The issue of this commemorative coin was directly tied to the centennial of the Statue of Liberty and Ellis Island in 1986. The “Centennial Celebration” served as the impetus for the coin’s creation and release. The US Mint specifically designed the coin to honor this milestone anniversary, recognizing the historical importance of both the statue as a symbol of freedom and Ellis Island as a gateway for immigrants. Without this centennial commemoration, the coin as it exists would not have been created.
The coin’s design directly reflects the significance of the celebration. The obverse typically features a depiction of the Statue of Liberty, and the reverse sometimes includes imagery related to Ellis Island or the immigrant experience. The inscriptions and design elements are deliberately chosen to evoke feelings of patriotism and appreciation for the nation’s heritage. For instance, the surcharge from the sale of these coins was allocated towards the restoration and preservation of the Statue of Liberty and Ellis Island.
In conclusion, the “Centennial Celebration” is not merely a context for the coin; it is integral to its existence and meaning. The historical event prompted its creation, informed its design, and guided its intended purpose. Understanding this connection is crucial for appreciating the coin’s historical significance and numismatic value. The coin stands as a lasting testament to the importance of these national landmarks and the ideals they represent.
2. Statue of Liberty
The Statue of Liberty stands as the central, iconic component of the commemorative coin. It functions as the primary design element on the obverse, directly associating the coin with ideals of freedom and opportunity. The statue’s image on the coin serves not merely as decoration but as a deliberate symbol chosen to represent the principles the nation espouses. Without the Statue of Liberty as the central figure, the coin would lose its core thematic relevance and its direct connection to American heritage.
Consider the historical context: the statue’s centennial was the explicit reason for the coin’s minting. Therefore, the statues presence is causative. The design amplifies the coin’s purpose as a commemorative object. Coins featuring particularly sharp and well-defined renditions of the statue often command higher prices among collectors, illustrating the practical impact of this design element on market value. Its presence also serves as an educational tool, reminding individuals of the statue’s role in American history and its enduring symbolic weight.
In summary, the connection between the Statue of Liberty and the coin is fundamental and multi-faceted. It is both a design element and a symbol linking the coin to significant historical and cultural values. Understanding this interconnection enhances appreciation for the coin’s significance and its place within the broader narrative of American numismatics. The enduring symbolism of the statue transcends the coin’s monetary value, elevating it to a tangible representation of national identity and ideals.
3. Ellis Island
Ellis Island functions as a key component of the historical narrative surrounding the 1987 commemorative coin. While not always directly depicted on the coin itself, its significance is interwoven with the Statue of Liberty, forming a cohesive representation of American immigration history. The centennial celebration, which the coin commemorates, encompasses both the Statue of Liberty and Ellis Island, recognizing them as linked symbols of opportunity and entry into the United States. The proceeds from the sale of this coin were partly directed towards the restoration of Ellis Island, thus establishing a tangible connection between the coin and the physical site. Its inclusion expands the coin’s symbolic weight from liberty alone to encompass the immigrant experience, which shaped American society.
For example, some versions of the coin’s marketing materials and accompanying literature explicitly highlight Ellis Island’s role in the nation’s history, further cementing its association with the commemorative piece. Collectors interested in American immigration or genealogy often seek out these coins, recognizing their value as historical artifacts that represent a significant aspect of the nation’s identity. The historical context strengthens the coin’s narrative appeal and boosts its collectibility among those with specific interests in the American immigrant story. This underscores the importance of considering the thematic connections within numismatics, not just the intrinsic value of the metal.
In summary, Ellis Island’s relationship to the commemorative coin is one of contextual importance. Although not always directly visualized, its historical role as the primary gateway for immigrants is fundamental to the coin’s meaning and appeal. Understanding this connection allows for a richer appreciation of the coin’s historical significance and its broader representation of American ideals. Its value extends beyond simple monetary considerations, offering a tangible link to the nation’s immigrant past and the ongoing narrative of the “American dream.”
4. 90% Silver
The composition of the commemorative coin, specifically its “90% silver” content, is a defining characteristic directly impacting its inherent and perceived value. The designation indicates that 90% of the coin’s weight is comprised of silver, with the remaining 10% typically consisting of copper. This alloy composition was a common standard for silver coinage in the United States for a considerable period, lending a sense of historical consistency and familiarity to the piece. The presence of silver provides intrinsic metal value that fluctuates with market prices, establishing a baseline for its worth, regardless of numismatic factors.
The “90% silver” component contributes significantly to the coin’s attractiveness to collectors and investors. The silver content provides a tangible hedge against inflation and economic uncertainty. For instance, during periods of economic downturn, demand for silver often increases, potentially driving up the market value of the coin. Further, the silver content influences the coin’s physical properties, impacting its luster, tarnish resistance, and overall durability. Coins with a higher silver content, properly stored, exhibit a characteristic brilliance that enhances their appeal and potentially influences their grading and market value.
In summary, the “90% silver” aspect of the commemorative coin is not merely a material specification but a critical element influencing its inherent worth, market value, and historical context. It connects the coin to a long-standing tradition of silver coinage in the United States and provides a tangible link to the precious metals market. Understanding this composition is crucial for assessing the coin’s potential as both a collectible and an investment asset. The silver content provides a foundational element of value that complements its historical significance and commemorative nature.
5. Commemorative Issue
The designation as a “Commemorative Issue” is fundamental to understanding the purpose and value of the 1987 Liberty Silver Dollar. This classification signifies that the coin was specifically authorized by Congress to celebrate a particular event or institution of national significance, in this case, the centennial of the Statue of Liberty and Ellis Island. This authorization directly influences the coin’s design, mintage, and intended distribution. Unlike standard circulating coinage, commemorative issues are produced for a limited time and often carry a surcharge, with proceeds dedicated to supporting the commemorated cause. Therefore, its commemorative status dictated its existence and purpose beyond that of simple currency.
The practical significance of understanding its status as a commemorative issue lies in assessing its potential value and historical context. For example, knowing that the coin was part of a limited mintage series dedicated to a specific event clarifies why certain mint marks or variations are more sought after by collectors. The surcharges associated with the coin’s sale directly funded the restoration efforts of the Statue of Liberty and Ellis Island, creating a tangible link between the coin and the commemorated event. This also explains why the coin’s marketing and promotional materials emphasized its role in preserving national heritage, influencing public perception and demand.
In summary, the “Commemorative Issue” designation is not merely a descriptive label but a defining characteristic that shapes the coin’s creation, purpose, and value. It provides essential context for understanding its design, mintage, and historical significance. Recognizing this status is critical for collectors and investors seeking to appreciate the coin’s place within the broader narrative of American numismatics and its contribution to preserving national landmarks. It elevates the coin beyond its silver content, transforming it into a tangible representation of a specific historical moment and its enduring legacy.
6. Legal Tender
The designation of “Legal Tender” for the 1987 Liberty Silver Dollar establishes a foundational, yet often misunderstood, aspect of its character. While primarily collected for its silver content and commemorative value, its status as legal tender grants it specific attributes and implications within the U.S. monetary system.
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Minimum Value Guarantee
As legal tender, the coin possesses a face value of one dollar, guaranteeing its acceptance as payment for debts at that amount. While its intrinsic silver value and collector demand typically far exceed this minimum, the legal tender status ensures a baseline worth, even in scenarios where its numismatic value declines. This acts as a safety net, albeit a minimal one, for holders of the coin.
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Governmental Recognition
The “Legal Tender” designation signifies official government endorsement and recognition of the coin as a valid form of currency. This imbues the coin with a certain level of legitimacy and trustworthiness, reinforcing its historical significance and collectibility. It differentiates the commemorative coin from purely private mint products, solidifying its place within the broader context of U.S. coinage.
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Potential for Circulation (Theoretical)
Although highly unlikely due to its silver content and collectibility, the coin’s legal tender status technically allows it to be used in general circulation. This potential, however theoretical, differentiates it from medals or purely artistic creations that lack monetary recognition. This aspect, while rarely enacted, highlights the unique intersection of commemorative art and functional currency embodied in the 1987 Liberty Silver Dollar.
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Acceptance in Federal Transactions
Theoretically, the U.S. government is obligated to accept the 1987 Liberty Silver Dollar as payment for federal taxes or other obligations at its face value. This reinforces the government’s commitment to recognizing the coin as a valid form of currency, despite its primary function as a commemorative object. This provides a symbolic, if impractical, connection to the broader U.S. financial system.
While its status as legal tender is often secondary to its silver content and commemorative nature, it remains a vital component of the 1987 Liberty Silver Dollar’s identity. This designation provides a minimum value guarantee, governmental recognition, a theoretical potential for circulation, and acceptance in federal transactions. It is a subtle yet significant factor contributing to its enduring appeal and historical context within the realm of U.S. coinage.
7. Numismatic Value
The “Numismatic Value” of a 1987 Liberty Silver Dollar represents a crucial element in understanding its worth. It surpasses the coin’s intrinsic silver content and face value, incorporating factors that appeal to collectors and investors, thus dictating its market price. This value stems from several interrelated factors, each contributing to the coin’s overall desirability and financial worth within the numismatic market.
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Condition and Grading
The physical condition of the coin is paramount in determining its numismatic value. Coins are graded on a scale, with higher grades indicating minimal wear, scratches, or imperfections. Professional grading services, such as PCGS or NGC, assess and certify a coin’s condition, assigning it a specific grade. A higher grade, signifying superior condition, typically results in a significantly increased numismatic value. For example, an uncirculated (MS-65 or higher) 1987 Liberty Silver Dollar will command a premium over a circulated (worn) example. The rarity of high-grade examples further amplifies this effect, as fewer coins survive in pristine condition over time. The grading acts as a standard assessment, ensuring consistency in valuation within the numismatic community.
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Mint Mark and Rarity
The presence and type of mint mark also influence the coin’s numismatic value. The 1987 Liberty Silver Dollar was minted at different U.S. Mint facilities, each designated by a specific mint mark (e.g., “P” for Philadelphia, “S” for San Francisco). Certain mint marks may indicate a lower mintage quantity, making those coins rarer and more desirable to collectors. For example, if the San Francisco Mint produced a significantly smaller number of these coins compared to the Philadelphia Mint, the “S” mint mark examples would typically command a higher numismatic value. The rarity of a particular mint mark combined with the coin’s condition dramatically impacts its market price. This scarcity contributes directly to the desirability and collectibility of the coin.
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Error Coins and Varieties
The existence of error coins or varieties can substantially increase the numismatic value of a 1987 Liberty Silver Dollar. Error coins are those with manufacturing defects, such as double dies, off-center strikes, or planchet errors. Varieties represent minor design differences, often resulting from die variations or modifications. If a 1987 Liberty Silver Dollar exhibits a documented error or variety, such as a doubled die obverse or a missing mint mark (though no missing mint mark has been documented on this coin), its value could rise significantly due to its rarity and uniqueness. The more prominent and noticeable the error or variety, the greater its potential impact on the coin’s numismatic value. These errors and varieties represent deviation from the norm, contributing to the coin’s uniqueness and appeal to specialized collectors.
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Historical Significance and Demand
The historical context and overall demand for the 1987 Liberty Silver Dollar contribute significantly to its numismatic value. As a commemorative coin celebrating the centennial of the Statue of Liberty and Ellis Island, it holds historical importance related to American immigration and ideals of freedom. Collectors interested in American history or specific themes, such as immigration, may be willing to pay a premium for this coin. Further, general market demand for commemorative silver dollars can fluctuate based on collector trends and economic conditions. An increase in demand, driven by renewed interest in American history or a desire for tangible assets, can positively influence the coin’s numismatic value. The coin’s place within the broader narrative of American history significantly contributes to its appeal and collectibility.
In conclusion, the numismatic value of the 1987 Liberty Silver Dollar extends far beyond its intrinsic silver content or face value. It is shaped by a complex interplay of condition, mint mark rarity, the potential for error coins or varieties, and historical significance. Assessing these factors accurately is critical for determining the coin’s true worth within the numismatic market, allowing collectors and investors to make informed decisions about buying, selling, or appraising these pieces of American coinage history.
8. Limited Mintage
The “Limited Mintage” of the 1987 Liberty Silver Dollar directly affects its collectibility and market value. The United States Mint established a predetermined maximum number of these commemorative coins that would be produced, contrasting with circulating currency, which is minted based on economic needs. This constraint introduces scarcity, a fundamental driver of value in numismatics. The lower the number of coins produced relative to collector demand, the higher the potential price. This controlled production is a conscious effort to enhance the coin’s appeal, making it more desirable as a collectible item rather than merely a form of currency. Without a limited mintage, it’s unlikely the coin would garner the same level of attention from numismatists.
For example, if the mintage figures had been significantly higher, saturating the market, the coin’s premium over its silver content would be substantially reduced. Conversely, years where mint records show relatively low production numbers for specific mint marks, those particular coins tend to command higher prices in the secondary market. Furthermore, the initial marketing campaigns for the 1987 Liberty Silver Dollar prominently highlighted the limited mintage as a key selling point, encouraging early purchases and driving up initial demand. This strategy capitalized on the inherent psychological effect of scarcity, fostering a sense of urgency among potential buyers. Understanding the specific mintage figures for both the proof and uncirculated versions, as well as any variations in mint marks, is crucial for anyone seeking to accurately assess the coin’s value.
In summary, the limited mintage of the 1987 Liberty Silver Dollar serves as a cornerstone of its value as a collectible. This controlled production introduces scarcity, directly influencing its market price and appeal to numismatists. Recognizing the significance of the limited mintage, understanding the specific production figures for various mint marks and versions, and recognizing their influence on supply and demand dynamics are essential for collectors and investors alike. The effect is a foundational element in its assessment within the numismatic market.
Frequently Asked Questions
This section addresses common inquiries regarding the 1987 Liberty Silver Dollar, providing concise and factual information for collectors and interested parties.
Question 1: What is the composition of the 1987 Liberty Silver Dollar?
The coin is struck from 90% silver and 10% copper. This composition reflects a historical standard for U.S. silver coinage.
Question 2: What is the face value of the 1987 Liberty Silver Dollar?
The face value is one dollar. However, its value as a collectible typically exceeds this amount significantly.
Question 3: Where was the 1987 Liberty Silver Dollar minted?
It was minted at both the Philadelphia (P) and San Francisco (S) Mint facilities. Mint marks are found on the coin.
Question 4: What does it commemorate?
The coin commemorates the centennial of the Statue of Liberty and Ellis Island.
Question 5: Is it worth more than just its silver content?
Yes. Its numismatic value, based on condition, rarity, and market demand, can significantly exceed its melt value.
Question 6: How do I determine the grade and value of my 1987 Liberty Silver Dollar?
Consider consulting with a reputable coin dealer or submitting the coin to a professional grading service for authentication and evaluation.
Understanding these key aspects can greatly assist in appreciating and assessing the value of this commemorative coin.
The following section will offer insights on how to care about your 1987 Liberty Silver Dollar for long-term storage and preservation.
Preservation Tips for a 1987 Liberty Silver Dollar
Proper handling and storage are critical to maintaining the condition and value of this commemorative coin. These guidelines provide essential advice for preserving the integrity of this historical artifact.
Tip 1: Handle with Extreme Care: Always hold the 1987 Liberty Silver Dollar by its edges to avoid transferring oils and contaminants from fingers to the coin’s surface. These oils can accelerate tarnishing and diminish its visual appeal.
Tip 2: Use Cotton Gloves: Employ clean, lint-free cotton gloves when handling the coin. These gloves provide a barrier against skin oils and minimize the risk of scratching the delicate surface.
Tip 3: Opt for Inert Storage Materials: Store the 1987 Liberty Silver Dollar in archival-quality holders or capsules made from inert materials such as Mylar or polyethylene. Avoid PVC-based holders, which can emit harmful chemicals over time, damaging the coin’s surface.
Tip 4: Control Environmental Factors: Maintain a stable, low-humidity environment for storage. Excessive humidity can promote corrosion and tarnishing. Consider using desiccants in storage areas to absorb moisture.
Tip 5: Avoid Abrasive Cleaning Methods: Never attempt to clean the 1987 Liberty Silver Dollar using abrasive materials, cloths, or cleaning solutions. These methods can cause irreversible scratching and significantly reduce its numismatic value.
Tip 6: Lightly Cleaning Method: If cleaning is necessary (and ONLY when necessary), distilled water can be lightly dabbed on the surface by professional. Consult experts before attempt any chemical applied on this coin.
Tip 7: Regular Inspection: Periodically inspect the 1987 Liberty Silver Dollar to detect any signs of deterioration. Early detection allows for timely intervention to prevent further damage.
Adhering to these preservation techniques safeguards the coin’s condition, allowing future generations to appreciate its historical and numismatic significance. The integrity is crucial.
In conclusion, the 1987 Liberty Silver Dollar represents more than just its metallic content; it embodies a tangible link to American history. Understanding its features, value determinants, and preservation requirements ensures its legacy endures. The final step will to be the final thought and the summarize to make this article have it’s ending.
Conclusion
This exposition has detailed the multifaceted aspects of the 1987 Liberty Silver Dollar. The analysis encompassed its historical context as a commemorative issue, its material composition, its designation as legal tender, factors influencing numismatic value, and guidelines for preservation. Understanding these elements is essential for appreciating the coin’s place within American history and numismatics.
The 1987 Liberty Silver Dollar serves as a tangible reminder of the values and history the United States represents. Continued research and careful stewardship will ensure its story remains accessible to future generations, enriching our understanding of both the past and the enduring principles it symbolizes. Seek expert consultation before undertaking actions that might impact the coin’s condition.
