The item in question is a bullion coin produced by the United States Mint. It contains one troy ounce of .999 fine silver and is a legal tender coin with a face value of one dollar. Its design features an obverse depicting Adolph A. Weinman’s “Walking Liberty” design, initially used on the half dollar from 1916 to 1947, and a reverse showcasing an eagle design by John Mercanti.
This particular issue holds significance for collectors and investors due to its place within the series. It represents an early year of production, contributing to its potential numismatic value, particularly for coins in uncirculated condition. Furthermore, the silver content provides intrinsic value, offering a hedge against economic uncertainty and inflation. The widespread popularity of the series ensures liquidity in the market, making it relatively easy to buy or sell.
The following sections will delve into specifics such as the mintage figures, grading standards, potential variations, and factors that influence its market price. These details will provide a deeper understanding of its value and appeal to both seasoned collectors and those new to numismatics.
1. Silver Content
The silver content of the 1987 American Eagle Silver Dollar is fundamental to understanding its intrinsic value and market behavior. It forms the base upon which numismatic premiums are added or subtracted, depending on factors such as condition, rarity, and collector demand.
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Composition and Purity
The coin comprises one troy ounce (31.103 grams) of .999 fine silver. This level of purity signifies that the coin consists of 99.9% pure silver, with minimal presence of other metals. This high silver content is a key factor influencing its price in relation to the spot price of silver. Impurities can subtly affect the coin’s appearance over time, making higher purity desirable.
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Intrinsic Value
The intrinsic value of the coin is directly tied to the prevailing spot price of silver in the commodities market. As the price of silver fluctuates, so too does the base value of the 1987 American Eagle Silver Dollar. For example, if silver trades at $25 per troy ounce, the coin’s inherent silver value would be approximately $25, excluding any collector premiums.
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Weight and Dimensions
The coin’s weight is precisely one troy ounce of silver. Its diameter is approximately 40.6 millimeters, and its thickness is around 2.98 millimeters. These standardized dimensions ensure consistency in the minting process and facilitate handling and storage. Deviation from these specifications could indicate a counterfeit coin.
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Impact on Collectibility
While the silver content provides a baseline value, the collectibility of the 1987 American Eagle Silver Dollar hinges on factors beyond its metallic composition. Condition, mintage figures, and historical context are all crucial in determining its numismatic worth. However, the underlying silver content provides a floor, mitigating the risk of complete value loss, even if collector demand diminishes.
In summary, the silver content is a constant element, providing a tangible foundation of worth. It interacts with other factors such as condition and market demand to determine the coin’s overall value. A deeper understanding of these interactions allows for informed decisions in collecting or investing in the 1987 American Eagle Silver Dollar.
2. Mintage Figures
The number of units produced, or mintage figure, is a crucial determinant of a coin’s potential value and scarcity. For the 1987 American Eagle Silver Dollar, the mintage provides a benchmark against which its relative rarity and collectibility can be assessed.
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Total Production Volume
The United States Mint produced 11,442,335 examples. This figure represents the total number of bullion strikes for the year. It is a primary statistic used by collectors and investors to compare the 1987 issue with other years in the series.
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Impact on Scarcity
A higher mintage generally implies lower scarcity. The 1987 mintage is neither exceptionally high nor exceptionally low compared to other years in the American Eagle Silver Dollar series. This positions it as a moderately common date, influencing its price in circulated grades.
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Uncirculated vs. Circulated Examples
While the total mintage provides a general overview, the number of surviving uncirculated examples is of greater interest to collectors. Many coins enter circulation and experience wear, reducing their grade and value. The number of coins that remain in pristine, uncirculated condition is significantly lower than the initial mintage.
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Influence on Market Value
The 1987 mintage figure plays a direct role in determining the coin’s market value. All other factors being equal, a lower mintage usually translates to higher prices, especially for coins in high grades. However, collector demand and bullion value also exert considerable influence, potentially overshadowing the impact of the mintage alone.
The 1987 American Eagle Silver Dollar’s mintage figure, while substantial, does not automatically guarantee significant numismatic premiums. Its value is intertwined with factors such as condition, market demand, and the prevailing price of silver. An understanding of the mintage within the broader context of the series is essential for informed collecting or investment decisions.
3. Condition/Grading
The condition of a 1987 American Eagle Silver Dollar is a paramount factor influencing its value within the numismatic market. Professional grading services, such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC), assess a coin’s state of preservation using a standardized grading scale ranging from 1 (Poor) to 70 (Mint State/Perfect Uncirculated). Higher grades indicate minimal wear, fewer surface imperfections, and greater eye appeal, directly correlating to higher market prices.
The impact of condition on value is significant. A circulated example, showing signs of wear such as scratches, abrasions, or reduced luster, may only be worth slightly more than its silver content. Conversely, an uncirculated example graded MS-69 or MS-70 can command a substantial premium. For instance, a common, circulated 1987 American Eagle Silver Dollar may fetch around $30, while an MS-70 example could be valued at several hundred dollars or more, depending on market demand and population reports (the number of coins graded at that level by PCGS and NGC). This difference underscores the critical role of condition in determining numismatic value.
Understanding grading standards is essential for both collectors and investors. Factors considered during grading include the presence and severity of scratches, hairlines, bag marks, and toning. Luster, the way light reflects off the coin’s surface, is also a key consideration. Improper handling or storage can lead to surface damage and lower grades, reducing the coin’s potential value. Therefore, careful handling and storage in archival-quality holders are crucial for preserving the condition of a 1987 American Eagle Silver Dollar and maximizing its long-term value. The meticulous process of professional grading provides a standardized and objective assessment of a coin’s condition, enabling informed buying and selling decisions within the numismatic community.
4. Design Aesthetics
The visual appeal of the 1987 American Eagle Silver Dollar significantly contributes to its desirability among collectors and investors. The coin’s design elements, inherited from earlier American coinage and executed with precision, enhance its aesthetic value and historical significance.
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Obverse: Walking Liberty Design
The obverse features Adolph A. Weinman’s “Walking Liberty” design, originally appearing on the half dollar from 1916 to 1947. This iconic image depicts Liberty striding towards the sunrise, draped in an American flag, with an olive branch and oak sprig in her left arm. The dynamic composition and symbolic elements resonate with patriotic sentiment and notions of progress. The continued use of this design on the Silver Eagle lends the coin a sense of heritage and artistic merit.
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Reverse: Heraldic Eagle Design
The reverse showcases John Mercanti’s heraldic eagle design. This depiction features a stylized eagle clutching an olive branch and arrows, symbolizing peace and defense. Thirteen stars above the eagle represent the original thirteen colonies. The design adheres to traditional heraldic conventions, providing a sense of formality and national identity. The contrast between the dynamic obverse and the structured reverse contributes to the coin’s overall visual balance.
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Engraving and Relief
The quality of engraving and the depth of relief significantly impact the coin’s visual appeal. The sharpness of the details, such as the folds in Liberty’s gown or the feathers on the eagle, enhance the three-dimensional effect and visual interest. Well-struck examples exhibit crisp details and a pleasing contrast between the raised elements and the flat fields. Variations in striking quality can influence the perceived aesthetic value and desirability of individual coins.
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Surface Luster and Toning
The surface luster, the way light reflects off the coin’s surface, contributes to its aesthetic appeal. Mint state coins exhibit a brilliant, cartwheel-like luster, indicative of their pristine condition. Toning, the natural oxidation of the silver surface, can also enhance the coin’s visual appeal. Attractive toning patterns, such as rainbow hues or subtle golden shades, can increase the coin’s desirability among collectors. However, uneven or unattractive toning can detract from its aesthetic value.
These design elements collectively contribute to the 1987 American Eagle Silver Dollar’s appeal beyond its intrinsic silver value. The combination of iconic imagery, artistic execution, and surface characteristics creates a visually compelling and historically significant coin that resonates with collectors and investors alike.
5. Collector Demand
The demand among numismatists significantly influences the market value of the 1987 American Eagle Silver Dollar. This demand stems from various factors, including the coin’s historical context as an early issue in a popular series, its silver content, and its condition. Increased collector interest translates directly into higher premiums above the coin’s intrinsic metal value. For example, during periods of heightened interest in silver investing or American coinage, demand for this specific year can surge, driving up prices, particularly for graded, high-condition examples. Conversely, a decline in collector enthusiasm can lead to a stabilization or even decrease in its market value.
The influence of collector demand extends beyond just the general market price. It also affects the relative value of different grades of the coin. While a circulated 1987 American Eagle Silver Dollar may only command a small premium over its silver content, a certified Mint State 69 (MS69) or Mint State 70 (MS70) example can fetch significantly higher prices due to the rarity of coins in such pristine condition. Auction results from reputable numismatic houses provide concrete examples of this phenomenon, showcasing instances where exceptional examples of the 1987 issue have sold for multiples of the coin’s silver value. This demand dynamic underscores the importance of condition and grading in determining the investment potential of this specific coin.
Understanding the nuances of collector demand is crucial for both buyers and sellers of the 1987 American Eagle Silver Dollar. Market sentiment, economic factors, and trends within the numismatic community all contribute to fluctuations in demand. Analyzing auction data, tracking population reports from grading services, and staying informed about relevant industry news are essential strategies for navigating the market effectively. Although predicting future demand is inherently uncertain, a comprehensive understanding of these factors can mitigate risks and enhance the potential for profitable transactions within the collector coin market.
6. Bullion Value
The bullion value of the 1987 American Eagle Silver Dollar represents the inherent worth of its silver content, serving as a baseline for its overall market price. This value is directly tied to the spot price of silver in the commodities market, fluctuating in response to global economic conditions, investor sentiment, and industrial demand for silver. The coin contains one troy ounce of .999 fine silver, ensuring that its bullion value closely mirrors the prevailing silver price. For example, if silver is trading at $25 per ounce, the coin’s intrinsic bullion value would be approximately $25, before considering any numismatic premiums.
The bullion value acts as a price floor, mitigating downside risk for owners of the coin. Even in scenarios where collector demand diminishes or economic uncertainty arises, the coin retains its value based on its silver content. This attribute makes the 1987 American Eagle Silver Dollar a tangible asset, offering a hedge against inflation and currency devaluation. During periods of economic instability, investors often flock to precious metals, including silver, driving up the spot price and, consequently, the bullion value of the coin. Conversely, a decline in silver prices can reduce the coin’s bullion value, potentially impacting its overall market price, especially for circulated examples with minimal numismatic appeal. Consider the financial crisis of 2008, when silver prices surged due to safe-haven demand, significantly increasing the bullion value and overall appeal of silver bullion coins like the 1987 American Eagle.
In summary, the bullion value is an indispensable component of the 1987 American Eagle Silver Dollar’s overall worth. It provides a stable foundation, buffering against market volatility and ensuring a minimum level of value based on its silver content. While numismatic factors such as condition and rarity can significantly augment the coin’s price, the underlying bullion value remains a critical element for both collectors and investors to consider, influencing purchase decisions and long-term investment strategies. Understanding this dynamic interplay is crucial for navigating the silver coin market and assessing the true worth of this particular issue.
Frequently Asked Questions
The following questions and answers address common inquiries regarding the 1987 American Eagle Silver Dollar, providing concise information for collectors and investors.
Question 1: What is the composition of the 1987 American Eagle Silver Dollar?
The coin contains one troy ounce (31.103 grams) of .999 fine silver. The remaining 0.1% consists of alloy metals added for durability during handling and circulation.
Question 2: What was the mintage figure for the 1987 American Eagle Silver Dollar?
The United States Mint produced 11,442,335 examples of the 1987 American Eagle Silver Dollar.
Question 3: How does the condition of the coin affect its value?
Condition significantly influences the coin’s value. Uncirculated examples, graded MS-69 or MS-70 by reputable grading services, command a substantial premium over circulated coins.
Question 4: Is the 1987 American Eagle Silver Dollar considered a rare coin?
The 1987 American Eagle Silver Dollar is not considered rare, given its mintage figures. However, high-grade, certified examples are scarcer and more valuable.
Question 5: How should a 1987 American Eagle Silver Dollar be stored to preserve its condition?
Proper storage involves using archival-quality holders or albums designed for coin collecting. Avoid handling the coin directly to prevent scratches or fingerprints.
Question 6: What factors determine the market value of the 1987 American Eagle Silver Dollar?
The coin’s market value is determined by a combination of factors, including its silver content (bullion value), condition (grade), mintage figures, and collector demand.
In summary, the 1987 American Eagle Silver Dollar’s value is multifaceted, influenced by intrinsic metal worth, condition, scarcity, and market interest. Understanding these aspects aids informed decision-making.
The next section will explore the historical context surrounding the coin’s production and release.
Acquiring and Assessing the 1987 American Eagle Silver Dollar
The subsequent guidelines aim to assist in the acquisition and evaluation of examples of the 1987 American Eagle Silver Dollar. Diligence and informed decisions are paramount to optimizing collector or investment outcomes.
Tip 1: Verify Authenticity. Examine the coin for signs of counterfeiting, including inconsistencies in design details, weight, and diameter. Compare against known authentic examples or utilize professional authentication services.
Tip 2: Assess Condition Meticulously. Grade the coin according to established standards, considering factors such as luster, surface imperfections, and wear. Utilize magnification tools to identify subtle flaws impacting value.
Tip 3: Examine Mintage Figures. Understand the relative scarcity of the 1987 issue compared to other years in the series. Mintage data directly influences potential appreciation, particularly for higher-grade examples.
Tip 4: Monitor Silver Prices. Track fluctuations in the spot price of silver, as this establishes the coin’s intrinsic bullion value. Consider the potential for silver price appreciation or depreciation when making purchase decisions.
Tip 5: Consult Reputable Dealers. Acquire the coin from established numismatic dealers with verifiable reputations. Obtain guarantees of authenticity and condition assessment to mitigate risk.
Tip 6: Review Grading Service Population Reports. Examine population reports from PCGS and NGC to understand the relative scarcity of coins graded at specific levels. This data informs pricing expectations and potential future value.
Tip 7: Research Market Trends. Stay informed about current market trends in the American Eagle Silver Dollar series. Auction results, dealer inventories, and numismatic publications provide insights into demand and pricing dynamics.
Consistent application of these strategies enables informed decision-making, minimizing risks and maximizing the potential for successful acquisition and appreciation of the 1987 American Eagle Silver Dollar.
The following section provides a concluding synthesis of the core aspects associated with the 1987 American Eagle Silver Dollar.
Conclusion
This exploration has considered the multifaceted nature of the 1987 American Eagle Silver Dollar. Its worth extends beyond its intrinsic silver value to encompass elements of design, historical context, collector demand, and condition. Mintage figures, while not indicative of extreme rarity, contribute to its place within the broader series. The confluence of these factors dictates its market performance, impacting both collectors and investors.
Ultimately, assessing the true value of any example demands diligent evaluation and a comprehensive understanding of the numismatic market. Continued research, careful observation, and consultation with reputable experts are crucial for navigating the complexities of acquiring and appreciating this piece of American coinage. The future value will undoubtedly be shaped by evolving market trends and enduring interest in precious metals.
