A United States currency piece minted in 1887, composed primarily of silver, holds numismatic and historical significance. These particular pieces represent a tangible connection to late 19th-century American commerce and design. The Morgan dollar, which is the common denomination, featured imagery reflective of the nation’s identity.
These coins are valued not only for their precious metal content but also for their historical context and collectibility. Factors such as mint location, condition, and rarity influence their worth. They serve as artifacts, embodying the economic and artistic climate of the era during which they were produced and circulated. The design features and metallic composition reflect specific U.S. Mint standards.
Subsequent sections will explore the specific types of these coins, their grading, factors influencing their value, notable examples, and how to properly care for and preserve these historic pieces for future generations.
1. Morgan Dollar
The term “Morgan Dollar” is inextricably linked to the 1887 silver dollar coin, as it refers to the specific design and type of silver dollar minted in that year. Designed by George T. Morgan, this coin depicts Liberty on the obverse and an eagle on the reverse. Therefore, any 1887 silver dollar coin is, by definition, a Morgan Dollar. The design is not merely aesthetic; it is integral to the coin’s identification and historical context. The Morgan Dollar design, introduced in 1878, represented a shift in American coinage and a commitment to using domestically sourced silver. An 1887 silver dollar coin embodies this historical and artistic endeavor.
The significance of understanding this connection lies in accurate identification and valuation. An authentic 1887 silver dollar coin will invariably bear the hallmarks of the Morgan Dollar design. The presence of other designs would immediately indicate a counterfeit or a different type of coin. Furthermore, the specific mint mark found on the coin (or absence thereof) impacts its value. For example, an 1887-S Morgan Dollar (minted in San Francisco) carries a different level of scarcity and value than an 1887 Morgan Dollar (minted in Philadelphia, with no mint mark). Knowing the design specifics helps collectors determine authenticity and assess potential value based on factors such as rarity and condition.
In summary, the Morgan Dollar is not simply a design on the 1887 silver dollar coin, but rather the defining characteristic of that coin type. Understanding this connection is crucial for collectors, historians, and anyone interested in accurately identifying, valuing, and appreciating these historic artifacts. Challenges in valuation remain, particularly in assessing condition and detecting counterfeits, but a solid grasp of the Morgan Dollar’s design elements is the foundation for responsible collecting and investment.
2. Silver Content
The silver content of an 1887 silver dollar coin is fundamental to its intrinsic value and historical significance. Each coin contains approximately 0.77344 troy ounces of silver. The presence of this substantial quantity of silver directly impacts the coin’s worth, fluctuating in accordance with prevailing silver market prices. Therefore, a baseline value is always present based on the raw material from which it is composed. Any collector or investor must understand silver prices to assess the fundamental value.
The significance extends beyond mere commodity pricing. The Bland-Allison Act of 1878, and subsequent legislation, mandated the purchase of silver for coinage, including the Morgan Dollar. This historical context illustrates the economic pressures and political decisions that shaped the creation and value of these coins. Consequently, awareness of silver content is crucial for appreciating the economic forces behind their production. Furthermore, the purity and weight standards set by the U.S. Mint directly influenced the coin’s physical properties and susceptibility to wear and tear over time. Understanding this aspect becomes critical in grading and assessing a coin’s condition, further affecting its value.
In summary, the silver content of the 1887 silver dollar coin is not merely a specification; it is a core element of its identity, value, and historical context. Its worth fluctuates based on the silver market, it illustrates economic policies of the late 19th century, and influences the evaluation of a coin’s grade. Knowledge of this aspect is essential for any serious numismatist or investor dealing with these coins. Challenges remain in accurately assessing wear and potential adulteration of the silver content, requiring expert analysis in certain cases, thus reinforcing the need for meticulous examination and informed expertise in this area.
3. Mint Marks
Mint marks on the 1887 silver dollar coin serve as critical identifiers of the specific U.S. Mint facility where the coin was produced. These small symbols are not merely decorative; they are essential for determining a coin’s rarity, value, and overall historical significance. The presence, absence, or specific type of mint mark can dramatically influence a collector’s assessment of the coin.
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Location and Identification
Mint marks are typically located on the reverse of the 1887 silver dollar coin, below the eagle. The most common mint marks found are “O” for New Orleans, “S” for San Francisco, and “CC” for Carson City. The Philadelphia Mint, however, did not use a mint mark. Identifying the mint mark, or lack thereof, is the initial step in determining a specific coin’s rarity and potential value.
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Rarity and Value Implications
Coins from the Carson City Mint (CC) are generally considered more valuable due to their lower mintage numbers and historical association with the Comstock Lode silver rush. An 1887-CC silver dollar commands a higher premium than an 1887-S or 1887 without a mint mark, assuming comparable condition. The relative scarcity of a particular mint mark directly translates to its market value among collectors.
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Authenticity Verification
Mint marks are also crucial for verifying the authenticity of an 1887 silver dollar coin. Counterfeiters may attempt to add or alter mint marks to increase the perceived value of a coin. A thorough examination of the mint mark’s style, position, and clarity is essential to detect potential forgeries. Numismatic experts often use high-magnification tools to scrutinize these details.
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Historical Context
The presence of specific mint marks offers insight into the economic and political context of the late 19th century. The Carson City Mint, for instance, was established to process silver from the Nevada mines, reflecting the importance of silver mining to the American economy at the time. The volume of coins produced at each mint provides a tangible record of silver production and coinage policies.
In conclusion, mint marks on the 1887 silver dollar coin are far more than mere identifiers. They are integral to establishing value, verifying authenticity, and understanding the historical context of these numismatic pieces. Knowledge of mint marks is indispensable for collectors and investors seeking to navigate the complexities of the 1887 silver dollar market.
4. Condition Grading
Condition grading is paramount in determining the value and desirability of an 1887 silver dollar coin. The numerical grade assigned by professional grading services, such as PCGS or NGC, directly correlates to the coin’s physical state and impacts its market price. Accurate assessment requires adherence to established grading standards, considering factors such as wear, luster, and surface preservation.
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Wear and Detail
Wear, resulting from circulation or handling, is a primary determinant of a coin’s grade. A coin in “Uncirculated” (MS) condition exhibits no wear and retains its original mint luster. Coins exhibiting slight wear on high points are graded as “About Uncirculated” (AU). Progressively more wear leads to grades such as “Extremely Fine” (EF), “Very Fine” (VF), “Fine” (F), “Very Good” (VG), “Good” (G), and “Poor” (P). The amount of detail visible on Liberty’s hair and the eagle’s feathers are key indicators of wear and contribute significantly to the final grade assigned to the 1887 silver dollar coin.
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Luster and Eye Appeal
Luster refers to the way light reflects off the surface of a coin. Original mint luster is highly prized and contributes significantly to a coin’s eye appeal. A frosty or cartwheel luster indicates minimal handling. Coins with diminished luster due to cleaning or environmental damage receive lower grades. The presence of original luster on an 1887 silver dollar coin enhances its visual appeal and increases its value.
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Surface Preservation and Marks
The presence of scratches, abrasions, or contact marks negatively affects a coin’s grade. Even minor imperfections visible under magnification can reduce a coin’s value. “Bag marks,” small abrasions resulting from contact with other coins in a mint bag, are common on silver dollars. However, excessive marks or evidence of mishandling lower the grade. The overall surface preservation of an 1887 silver dollar coin is carefully evaluated during the grading process.
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Strike Quality
Strike quality refers to the sharpness and completeness of the coin’s design. A well-struck 1887 silver dollar coin exhibits crisp details and full relief. Weak strikes, resulting from insufficient pressure during minting, can result in soft details and reduced visual appeal. Strike quality is particularly important for key design elements, such as Liberty’s hair and the eagle’s breast feathers. A strong strike contributes to a higher grade and increased collector demand.
The interplay of these factors determines the final grade assigned to an 1887 silver dollar coin. While professional grading services provide standardized assessments, the subjective nature of eye appeal and minor variations in grading standards can influence the outcome. Understanding these nuances is critical for collectors and investors seeking to accurately value and acquire these historic coins.
5. Numismatic Value
The numismatic value of an 1887 silver dollar coin transcends its intrinsic silver content, deriving instead from its historical significance, rarity, condition, and collector demand. While the silver within the coin provides a base value, the factors contributing to numismatic value elevate its worth substantially. For instance, an 1887-CC Morgan dollar in uncirculated condition commands a significantly higher price than a circulated example from the same mint or an uncirculated example from a more common mint like Philadelphia. This is because the Carson City mint had a smaller mintage, instantly making it rarer and sought after.
Several elements interact to determine a specific coin’s numismatic value. Condition grading is paramount, with higher grades indicating better preservation and greater desirability among collectors. Mint marks, as indicators of origin and mintage figures, contribute significantly. Furthermore, historical events and collector trends influence demand, which in turn affects prices. A sudden surge in interest in the American West, for example, could elevate the prices of Carson City minted coins. The practical significance of understanding numismatic value lies in the ability to accurately assess the potential investment return or insurance valuation of a coin.
In conclusion, numismatic value represents the confluence of tangible and intangible factors influencing the worth of an 1887 silver dollar coin. While silver content establishes a baseline, rarity, condition, mint mark, and historical context drive the numismatic value. Challenges remain in predicting future market trends and accurately assessing subjective elements like eye appeal, but a thorough understanding of these components remains essential for responsible numismatic collecting and investment.
6. Historical Context
The historical context surrounding the 1887 silver dollar coin is crucial to understanding its significance beyond its material composition. The Bland-Allison Act of 1878, a key driver behind the production of Morgan dollars, mandated the U.S. government to purchase large quantities of silver for coinage. This legislation was a direct response to pressure from silver mining interests seeking to stabilize the silver market following increased production from western mines. Consequently, the 1887 silver dollar represents a tangible artifact of this political and economic struggle. The coins symbolized an attempt to balance the interests of silver producers, the needs of commerce, and the concerns of those who favored a gold standard.
Furthermore, the specific mint location where an 1887 silver dollar coin was produced adds another layer to its historical narrative. Coins from the Carson City Mint, marked with “CC,” are particularly significant due to their association with the Comstock Lode silver rush and the rugged, independent spirit of the American West. The New Orleans Mint, marked with “O,” reflects the economic importance of the South during the late 19th century, a region still recovering from the Civil War. Coins from the Philadelphia Mint, unmarked, reflect the established industrial might of the East Coast. Each mint mark serves as a direct link to a particular region’s economic and social landscape, providing a nuanced understanding of the nation’s development.
In summary, the 1887 silver dollar coin is not simply a piece of currency but a microcosm of the economic, political, and social forces shaping the United States during the late 19th century. The Bland-Allison Act, the regional identities reflected in mint marks, and the broader debates surrounding silver versus gold all contribute to its rich historical context. Appreciating this context elevates the coin beyond its monetary value, transforming it into a valuable historical artifact. Understanding these historical underpinnings presents challenges for modern interpretation, requiring careful analysis of contemporary sources, but such analysis enriches the understanding of the coin.
7. Rarity Factors
Rarity factors significantly influence the value and collectibility of the 1887 silver dollar coin. Variations in mintage figures, condition, and the survival rate of specific mint marks contribute to the relative scarcity of certain examples, thereby increasing their desirability among numismatists.
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Mintage Figures
The number of coins produced at each mint directly impacts their rarity. Lower mintage figures generally correlate with higher value. For instance, the 1887-CC Morgan dollar, minted at the Carson City Mint, had a significantly lower mintage than the 1887 Morgan dollar from the Philadelphia Mint. This disparity renders the 1887-CC example more challenging to acquire and, consequently, more valuable.
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Mint Mark Scarcity
Certain mint marks are inherently scarcer due to lower production numbers or historical events that reduced their survival rate. The “CC” mint mark from the Carson City Mint is particularly sought after. This mint’s location in a remote area and limited operational lifespan contributed to lower overall mintages compared to Philadelphia or San Francisco. The 1887-CC is a prime example of mint mark scarcity driving value.
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Condition Rarity
Even within a specific mintage, the number of coins surviving in higher grades is limited. An 1887 silver dollar coin in uncirculated condition (MS65 or higher) is significantly rarer than a circulated example. Condition rarity arises from factors such as storage conditions, handling practices, and the passage of time. Well-preserved examples command premiums due to their aesthetic appeal and scarcity in top grades.
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Die Varieties and Errors
Subtle variations in die design or errors occurring during the minting process can create rare and desirable subtypes. Examples include doubled die obverses or reverse die rotations. These anomalies are often discovered years after the coins were minted, increasing their appeal to specialist collectors. The presence of a recognized die variety can substantially increase the numismatic value of an 1887 silver dollar coin.
These rarity factors intertwine to determine the overall desirability and value of an 1887 silver dollar coin. While mintage figures provide a starting point, condition rarity and the presence of specific mint marks or die varieties can dramatically alter a coin’s worth. Collectors prioritize these factors when assessing the potential investment value and historical significance of these pieces.
8. Collectibility
The collectibility of the 1887 silver dollar coin is a complex phenomenon driven by a confluence of historical, aesthetic, and economic factors. Its status as a tangible artifact from the late 19th century lends it inherent appeal to collectors interested in American history and numismatics. The Morgan dollar design, a widely recognized symbol of the era, further enhances its desirability. Furthermore, the finite supply of these coins, coupled with increasing demand from collectors worldwide, creates a fundamental scarcity that drives up prices. The collectibility aspect significantly influences the overall market dynamics, transforming it from a simple commodity into a sought-after collectible.
The importance of collectibility lies in its impact on the coin’s value beyond its intrinsic silver content. An 1887 silver dollar coin in pristine condition, particularly one with a rare mint mark such as “CC,” can command prices far exceeding the value of its silver. The auction market serves as a prime example, with certified, high-grade examples regularly fetching significant premiums due to intense competition among collectors. This understanding of collectibility is essential for anyone involved in buying, selling, or investing in these coins. Failing to appreciate the nuanced factors that contribute to collectibility can lead to misinformed decisions and inaccurate valuations. A professional numismatist carefully considers the historical context, market trends, and collector preferences to determine the coin’s true value.
In summary, the collectibility of the 1887 silver dollar coin is a driving force behind its enduring appeal and value. The intersection of history, design, scarcity, and market demand creates a dynamic environment where certain examples achieve significant premiums. While challenges remain in predicting future collector preferences and market fluctuations, a solid understanding of the factors influencing collectibility is crucial for anyone seeking to engage with this fascinating area of numismatics. The emphasis on authentication, grading, and understanding historical provenance ensures responsible collecting practices.
Frequently Asked Questions
This section addresses common inquiries and misconceptions regarding the 1887 silver dollar coin, providing concise and authoritative answers to aid in understanding its value, history, and collectibility.
Question 1: What is the primary factor influencing the value of an 1887 silver dollar coin?
While silver content provides a base value, the condition grade assigned by a reputable grading service (PCGS, NGC) is the most significant determinant of an 1887 silver dollar’s worth. Higher grades command substantially higher prices.
Question 2: How does the mint mark affect the value of an 1887 silver dollar coin?
The mint mark, indicating where the coin was struck, plays a vital role. The “CC” mint mark (Carson City) generally signifies a scarcer and more valuable coin compared to those from Philadelphia (no mint mark) or San Francisco (“S”). New Orleans (“O”) is also a possibility.
Question 3: Are all 1887 silver dollar coins made of the same silver purity?
Yes, all authentic 1887 silver dollar coins contain approximately 90% silver and 10% copper, adhering to the standards set by the U.S. Mint at the time. Variations in appearance are primarily due to wear and environmental factors, not differences in the original composition.
Question 4: How can one verify the authenticity of an 1887 silver dollar coin?
Authenticity verification requires careful examination of details such as the coin’s weight, diameter, design features, and mint mark. Comparison with known authentic examples and consultation with a numismatic expert are recommended. Reputable third-party grading services also offer authentication services.
Question 5: What is the historical significance of the 1887 silver dollar coin?
The 1887 silver dollar coin represents a period in American history marked by debates over the role of silver in the monetary system. It reflects the economic and political pressures surrounding the Bland-Allison Act and the silver mining industry’s influence.
Question 6: Should an 1887 silver dollar coin be cleaned?
Cleaning is generally discouraged, as it can damage the coin’s surface and diminish its numismatic value. Improper cleaning can leave scratches or remove the original luster. Professional conservation is recommended for addressing significant surface issues.
Understanding the interplay of condition, mint mark, silver content, authenticity, and historical context is critical for accurately assessing the value and significance of the 1887 silver dollar coin.
The next section will explore proper handling, storage, and preservation techniques to maintain the condition and value of these historic coins.
Preservation Strategies for the 1887 Silver Dollar Coin
Optimal long-term preservation of an 1887 silver dollar coin necessitates adherence to stringent handling, storage, and environmental controls. These procedures mitigate the risk of degradation and maintain the coin’s numismatic value.
Tip 1: Minimize Direct Handling: Direct contact introduces oils and contaminants to the coin’s surface, potentially leading to discoloration or corrosion. Handle the 1887 silver dollar coin only when necessary, and always utilize clean, lint-free cotton gloves.
Tip 2: Employ Inert Storage Materials: Store the 1887 silver dollar coin in inert materials such as archival-quality mylar flips or PVC-free coin holders. Avoid storing it in direct contact with materials containing PVC or sulfur, as these substances can cause irreversible damage.
Tip 3: Control Environmental Humidity: Excessive humidity accelerates corrosion. Maintain a stable, low-humidity environment, ideally below 50% relative humidity. Desiccant packs can be used in storage containers to absorb moisture.
Tip 4: Maintain Stable Temperature: Fluctuations in temperature can promote expansion and contraction, potentially damaging the coin’s surface. Store the 1887 silver dollar coin in a location with a consistent temperature, avoiding direct sunlight or proximity to heat sources.
Tip 5: Avoid Abrasive Cleaning Methods: Never use abrasive cleaning agents or polishing cloths on an 1887 silver dollar coin. Such methods will irrevocably damage the surface and diminish its numismatic value. Professional conservation is the only acceptable intervention for surface contaminants.
Tip 6: Document Provenance and Storage History: Maintain a detailed record of the 1887 silver dollar coin’s provenance, including its acquisition date, purchase price, and any known historical information. Document the storage methods used and any conservation treatments performed.
Tip 7: Regular Inspection: Periodically inspect the 1887 silver dollar coin for any signs of deterioration, such as discoloration, spotting, or corrosion. Early detection allows for timely intervention to prevent further damage.
Implementing these strategies ensures the sustained preservation of the 1887 silver dollar coin, safeguarding its value and historical significance for future generations. Consistent adherence to these protocols will minimize the risks associated with environmental factors and improper handling.
With the preservation strategies outlined, the following concludes the comprehensive exploration of the 1887 silver dollar coin, providing readers with a well-rounded understanding of its value, history, and long-term care.
Concluding Remarks on the 1887 Silver Dollar Coin
This exploration has elucidated the multifaceted nature of the 1887 silver dollar coin, encompassing its design (the Morgan dollar), silver content, mint marks, condition grading, numismatic value, historical context, rarity factors, and collectibility. The analysis emphasizes the intricate interplay of these elements in determining its overall worth and historical significance. Each aspect contributes to a holistic understanding of its place within numismatics and late 19th-century American history.
The 1887 silver dollar coin serves as a compelling artifact, embodying economic policies and historical narratives within its composition. Continued research and meticulous preservation efforts will ensure the ongoing appreciation of its legacy, safeguarding its value for future generations. Further exploration of individual mint mark variations and subtle die differences promises to yield deeper insights into this iconic coin.
