The worth of a United States commemorative coin issued in 1987, struck from silver, is multifaceted and contingent upon several factors. These include the coin’s condition, its mint mark (or lack thereof), and the prevailing market demand among collectors. Uncirculated examples generally command a higher premium than those exhibiting wear.
Understanding the pricing dynamics of these particular numismatic items is beneficial for both seasoned collectors and individuals seeking to evaluate inherited or discovered holdings. Their historical significance, combined with the intrinsic value of the silver content (if applicable), contributes to their desirability and potential appreciation over time. Mint state examples, especially those graded highly by reputable grading services, represent a potentially valuable asset.
To ascertain an accurate assessment, a detailed examination of the coin’s condition and a review of current market trends are advisable. Key considerations include consulting reputable price guides, examining auction records, and potentially seeking evaluation from a qualified numismatist. Further discussion will focus on these specific determinants of worth.
1. Condition grading
Condition grading serves as a primary determinant of the worth of a 1987 silver dollar. The Sheldon Scale, a widely accepted standard, provides a numerical and descriptive system for evaluating the state of preservation of a coin. This grading directly impacts the perceived value and desirability among collectors and investors.
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Mint State (MS) Grades
Coins graded as Mint State (MS60 to MS70) represent the highest levels of preservation, exhibiting no wear from circulation. The numerical designation indicates the degree of imperfections, with MS70 representing a flawless coin. For the 1987 silver dollar, an MS70 specimen will command a significantly higher premium than an MS60, due to its superior aesthetic appeal and rarity.
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About Uncirculated (AU) Grades
Coins graded as About Uncirculated (AU50 to AU58) display minimal traces of wear, typically on the highest points of the design. These coins may exhibit slight friction or contact marks acquired during the minting process or subsequent handling. While still valuable, AU examples are generally priced lower than Mint State specimens, reflecting the presence of minor imperfections.
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Circulated Grades (AG to VF)
Coins that have entered general circulation and exhibit noticeable wear are graded within the range of About Good (AG) to Very Fine (VF). The degree of wear and detail loss directly correlates with the coin’s value. A 1987 silver dollar graded as Fine (F12) will possess less detail and command a lower price than a Very Fine (VF20) example. Heavily worn coins, such as those graded AG or G, retain minimal value above their intrinsic silver content.
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Professional Grading Services
Third-party grading services, such as PCGS and NGC, provide impartial assessments of a coin’s condition and authenticity. Coins encapsulated and graded by these services typically command a higher premium than ungraded examples. The assigned grade from a reputable service offers assurance to potential buyers, mitigating the risk of subjective evaluation and potential misrepresentation of the coin’s true condition and therefore impacting the 1987 silver dollar coin value.
In summary, condition grading provides a standardized framework for evaluating the physical state of a 1987 silver dollar, directly influencing its market value. Higher grades reflect superior preservation and command significantly higher prices, while circulated examples exhibit varying degrees of wear and reduced value. Professional grading services play a crucial role in establishing confidence in the assigned grade and contributing to the overall worth of the coin.
2. Mintage figures
The quantity of 1987 silver dollars produced, the mintage figure, exerts a direct influence on its market value. A lower mintage generally correlates with increased scarcity, thereby driving up collector demand and, consequently, the price. Conversely, a higher mintage typically implies greater availability, which tends to moderate or suppress price appreciation.
The 1987 silver dollar was issued to commemorate the bicentennial of the United States Constitution. There were two versions: one from the Philadelphia Mint (no mint mark) and one from the San Francisco Mint (S mint mark). The San Francisco Mint proof coins generally command a premium due to lower original sales figures, as proof coins are inherently for collectors. The impact of mintage is most evident when comparing the worth of different varieties or issues within the series; those with documented limited production frequently outperform those with higher numbers, all other factors being equal.
Understanding the mintage figures for the 1987 silver dollar provides essential context for assessing its potential worth. This information, coupled with condition grading and market analysis, enables informed decisions for collectors and investors alike. While mintage is a critical factor, it is not the sole determinant of value. Market demand, historical significance, and precious metal content also contribute significantly. This knowledge allows for a more comprehensive evaluation of this commemorative coin’s place in numismatic history and financial potential.
3. Silver content
The metallic composition of the 1987 silver dollar constitutes a baseline factor influencing its inherent valuation. While primarily considered a commemorative issue, its composition includes a specific quantity of silver, contributing to its overall worth.
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Weight and Purity Specifications
The 1987 silver dollar contains 0.77344 troy ounces of silver, with a purity of 0.900 (90% silver, 10% copper). This standardized composition ensures uniformity across the entire mintage, enabling consistent evaluation based on the prevailing spot price of silver. Fluctuations in the silver market directly impact the coin’s intrinsic worth, irrespective of its numismatic value. For example, a rise in silver prices will proportionally increase the base value of the coin.
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Impact on Intrinsic Value
The intrinsic value, calculated solely on the silver content, establishes a minimum threshold for the coin’s price. Collectors and investors often consider this figure when assessing potential acquisitions, as it provides a safeguard against excessive premiums based solely on rarity or condition. Should the market price of silver exceed the numismatic premium, the coin may be melted for its metal content, which demonstrates the significance of silver content to the value.
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Influence on Collector Demand
While condition and mintage figures are primary drivers of collector demand, the silver content can indirectly influence interest, particularly during periods of economic uncertainty or heightened precious metal investment. The perception of silver as a store of value can attract a broader range of buyers, contributing to overall liquidity in the market for 1987 silver dollars. Coins in poor condition may still hold value purely based on their silver content, even if they are not collectible.
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Interaction with Numismatic Value
The interaction between the intrinsic silver value and the numismatic value (based on factors like condition, rarity, and historical significance) creates a complex interplay determining the final price. A 1987 silver dollar in uncirculated condition commands a premium above its silver content, reflecting its desirability among collectors. The spread between the silver content and the final market price is dictated by numismatic factors; understanding this relationship is key to astute investment decisions.
In conclusion, the silver content forms an essential component of the 1987 silver dollar’s overall value. It provides a quantifiable baseline, influences collector demand, and interacts with numismatic factors to determine its market price. A thorough understanding of its composition and the prevailing silver market is critical for accurate valuation and informed investment strategies and the relationship to 1987 silver dollar coin value.
4. Market demand
Market demand serves as a critical determinant in shaping the financial valuation of the 1987 silver dollar. The interplay between supply and buyer interest directly influences the prices commanded by these commemorative coins in the numismatic marketplace.
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Collector Interest
Collector interest represents a primary driver of market demand. Events such as increased awareness through numismatic publications, commemorative events linked to the Constitution’s bicentennial, or the emergence of influential collectors can spur heightened interest. A surge in collector enthusiasm translates to increased competition for available coins, leading to upward pressure on prices, particularly for higher-grade specimens.
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Economic Conditions
Prevailing economic conditions significantly impact disposable income and investment strategies. During periods of economic stability and growth, discretionary spending on collectibles, including the 1987 silver dollar, tends to increase. Conversely, economic downturns may lead to reduced collector activity, potentially dampening demand and causing prices to stabilize or decline. The investment appeal of tangible assets like precious metal coins may also increase during inflationary periods.
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Speculative Activity
Speculative activity, driven by expectations of future price appreciation, can create artificial demand. Investors seeking short-term gains may enter the market, driving up prices beyond levels justified by intrinsic value or historical significance. Such speculative bubbles are often followed by corrections, leading to price volatility. The presence of speculative activity can influence both the supply and demand dynamics of the 1987 silver dollar, creating opportunities and risks for collectors and investors.
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Rarity Perception
Perceived rarity, whether actual or artificially created through marketing, exerts a potent influence on market demand. If collectors believe that certain varieties or grades of the 1987 silver dollar are particularly scarce, demand may intensify, resulting in elevated prices. Successful marketing campaigns emphasizing limited availability or unique characteristics can further amplify this effect. Actual rarity, verified by expert grading and population reports, provides a more substantive basis for demand, but perceptions can also play a key role.
The factors influencing market demand are multifaceted and dynamic, impacting the financial valuation of the 1987 silver dollar. Collector enthusiasm, economic conditions, speculative activity, and perceived rarity all contribute to shaping buyer interest and pricing trends. A comprehensive understanding of these forces is essential for navigating the numismatic market and making informed decisions regarding the acquisition or disposition of these commemorative coins and understanding the real 1987 silver dollar coin value.
5. Rarity factors
Rarity factors exert a considerable influence on the worth of the 1987 silver dollar. The limited availability of specific varieties or grades directly correlates with increased desirability among collectors and investors. A coin’s perceived scarcity, often stemming from low mintage figures, surviving population numbers, or unique characteristics, significantly impacts its market valuation. For example, errors during the minting process, such as double dies or off-center strikes, can create unique varieties with considerably higher prices than standard issues. This effect demonstrates that even minor deviations from the norm can exponentially increase a coin’s value if they are sufficiently rare and sought after.
The impact of rarity factors extends beyond mere physical attributes. Historical context, such as a low survival rate due to melting or damage, also contributes to perceived scarcity. When combined with high demand, even relatively common coins can experience price appreciation. Furthermore, professional grading services, like PCGS and NGC, play a crucial role in identifying and certifying rare attributes, thereby validating their existence and further enhancing their market appeal. A coin graded and designated with a rare designation becomes immediately more valuable due to the assurance of its authenticity and scarcity. Thus, proper attribution of rarity is an important aspect to take into consideration for 1987 silver dollar coin value.
In summary, understanding rarity factors is essential for accurate valuation of the 1987 silver dollar. These factors encompass a combination of mintage figures, survival rates, minting errors, and professional grading certifications. The interplay between these elements directly shapes market demand and, consequently, determines the price commanded by these commemorative coins. Accurately assessing and validating rarity significantly contributes to realizing the full potential worth of any particular specimen.
6. Dealer pricing
Dealer pricing represents a significant element in the market valuation of the 1987 silver dollar. Dealers, acting as intermediaries between buyers and sellers, establish prices based on a confluence of factors, impacting the accessibility and fluidity of the market.
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Overhead and Profit Margins
Dealers incur operational costs, including rent, insurance, and labor. These overhead expenses necessitate the inclusion of profit margins in their pricing strategies. The degree of mark-up varies based on the dealer’s business model, location, and target clientele. Higher overhead may translate to increased prices for the 1987 silver dollar, reflecting the dealer’s need to maintain profitability. For example, a high-end coin shop in a major metropolitan area will likely charge more than an online dealer with lower operating costs. Understanding these costs helps to explain 1987 silver dollar coin value.
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Market Knowledge and Expertise
Dealers possess specialized knowledge regarding coin grading, market trends, and rarity factors. Their expertise allows them to accurately assess the condition and potential value of a 1987 silver dollar. Dealers leverage this knowledge to inform their pricing decisions, charging premiums for coins deemed to be of superior quality or scarcity. Seasoned dealers often have a better understanding of where the “sweet spots” are in the market. A dealer’s reputation and experience play a role here.
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Inventory Management and Risk
Dealers maintain inventories of coins, requiring capital investment and incurring risks associated with market fluctuations. They may adjust prices to manage inventory levels, offering discounts on slower-moving items or increasing prices on high-demand coins. The risk of holding inventory that depreciates in value influences dealer pricing strategies. Dealers that bought coins at peak prices may be under pressure to maintain prices or accept losses.
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Buy/Sell Spreads
The difference between the price at which a dealer buys a coin (the “buy” price) and the price at which they sell it (the “sell” price) represents their profit margin. This spread varies depending on the coin’s liquidity and the dealer’s assessment of market risk. Higher-demand coins with narrower spreads facilitate quicker turnover, while less liquid coins may command wider spreads. Examination of buy/sell spreads provides insights into the dealer’s pricing expectations and market sentiment surrounding the 1987 silver dollar. Wider margins indicates 1987 silver dollar coin value can vary by dealer.
Dealer pricing serves as a practical indicator of market value, reflecting the combined influence of overhead costs, expertise, inventory management, and buy/sell spreads. These factors collectively contribute to the pricing dynamics of the 1987 silver dollar and understanding these dealer factors is important in accessing overall market value.
7. Auction results
Auction results provide tangible data points for assessing the market value of the 1987 silver dollar. These sales, conducted by reputable auction houses, represent real-world transactions and offer insight into current buyer demand and pricing trends. They serve as a valuable resource for collectors, investors, and dealers seeking to establish fair market valuations.
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Graded Coin Performance
Auction outcomes for professionally graded 1987 silver dollars (e.g., PCGS or NGC) offer a benchmark for condition-specific pricing. Higher grades, such as MS69 or MS70, command premiums reflecting their superior preservation. Auction records detail the prices realized for specific grades, allowing for comparison and establishing a hierarchy of values. These data points reveal the market’s valuation of pristine specimens.
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Variety Identification and Valuation
Auctions often feature 1987 silver dollars with notable varieties, such as errors or significant die states. The prices paid for these varieties reflect their relative scarcity and collector interest. Auction catalogs and price archives document these sales, providing a historical record of variety valuation. The presence of a documented variety can significantly enhance the coin’s worth.
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Market Trend Indicators
Analyzing auction results over time reveals market trends affecting the value of the 1987 silver dollar. Consistent price increases suggest growing demand, while declines may indicate market saturation or waning collector interest. Monitoring auction performance provides an early warning system for potential shifts in valuation. This analysis helps in strategic decision-making for both buying and selling.
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Influence of Auction House Reputation
The reputation and marketing prowess of the auction house can influence the prices realized for 1987 silver dollars. Auctions conducted by established firms with a history of high-profile sales often attract a larger pool of bidders, potentially driving up prices. The perceived prestige of the auction house can indirectly impact the perceived value of the coin. Therefore, the source of auction data should be considered when interpreting results.
Auction results provide a transparent and data-driven method for evaluating the worth of the 1987 silver dollar. The details surrounding each sale, including grade, variety, and auction house reputation, contribute to the overall understanding of market valuation. By analyzing these outcomes, collectors and investors can make informed decisions based on real-world transaction data and gain an understanding of 1987 silver dollar coin value.
8. Certified value
Certified value, as determined by reputable third-party grading services, represents a crucial factor influencing the valuation of a 1987 silver dollar. These services, such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC), provide an expert and impartial assessment of a coin’s condition, authenticity, and potential market worth. The assigned grade directly impacts the perceived value and desirability among collectors and investors. For example, a 1987 silver dollar graded MS70 by PCGS will command a significantly higher price than the same coin in an ungraded state or with a lower grade, due to the assurance of its pristine condition and the objectivity of the evaluation. The certified grade becomes a standardized and widely recognized measure of the coin’s quality, which affects 1987 silver dollar coin value.
The importance of certified value extends beyond simply establishing a coin’s grade. Certification also guarantees authenticity, protecting buyers from counterfeit or altered coins. This assurance is especially critical for rare or high-value specimens where the risk of fraud is greater. Furthermore, certified coins are often encapsulated in tamper-evident holders, preserving their condition and providing an additional layer of protection. The combination of grading and authentication significantly enhances investor confidence and streamlines transactions within the numismatic market. A coin encapsulated by a grading service carries an added premium as the grading provides market security.
In summary, certified value serves as a cornerstone in determining the 1987 silver dollar coin value. Reputable grading services lend credibility to the assessment of a coin’s condition and authenticity, thereby influencing its market price. Understanding certified value and its impact on investor confidence and transaction efficiency is essential for both seasoned collectors and those new to the numismatic marketplace. While a higher certified grade typically leads to an increased valuation, it’s important to research the specific grading service and compare values in the current marketplace.
Frequently Asked Questions About 1987 Silver Dollar Coin Value
This section addresses common inquiries concerning the worth of the 1987 silver dollar. Information presented aims to provide clarity and factual details.
Question 1: How is the worth of a 1987 silver dollar determined?
The value is determined by a combination of factors, including its condition (graded on the Sheldon Scale), the mintage figures (quantity produced), the silver content, market demand, and rarity of any specific variety.
Question 2: What impact does condition have on the valuation?
Condition is paramount. Mint State (MS) coins, exhibiting no wear, command the highest prices. Circulated coins, showing wear, possess reduced value.
Question 3: Is silver content a primary factor in determining price?
The intrinsic silver value provides a base valuation. However, numismatic value, driven by rarity and condition, often exceeds the silver value, creating a premium.
Question 4: What role do third-party grading services play?
Services like PCGS and NGC authenticate and grade coins, providing an impartial assessment of condition, which significantly impacts the price. Graded coins typically command a premium.
Question 5: Are there specific varieties of the 1987 silver dollar that are more valuable?
Yes, minting errors or significant die states can create varieties with increased scarcity and, consequently, higher prices. These differences can greatly affect the 1987 silver dollar coin value.
Question 6: How does market demand affect the cost?
Strong collector demand, influenced by economic conditions and perceived rarity, will drive prices upward. Conversely, reduced demand can lead to price stabilization or decline.
Understanding these factors is essential for accurately assessing a coin’s potential worth.
The following section will delve deeper into resources for determining accurate valuations.
Valuation Tips for the 1987 Silver Dollar
Accurate valuation necessitates a systematic approach considering various elements. These guidelines provide direction for effectively assessing the worth of the 1987 silver dollar, to know accurate 1987 silver dollar coin value.
Tip 1: Consult Reputable Price Guides: Leverage established price guides, such as those published by Krause Publications or online resources like the PCGS Price Guide, to gain insight into market values for different grades.
Tip 2: Examine Auction Archives: Research auction records from reputable houses (e.g., Heritage Auctions, Stack’s Bowers Galleries) to identify recent sales prices for comparable coins.
Tip 3: Assess Condition with Objectivity: Adhere to the Sheldon Scale when evaluating condition. Focus on factors such as luster, surface preservation, and the presence of wear or imperfections.
Tip 4: Verify Mintage Figures: Consult official mint reports or numismatic references to determine the specific mintage of the 1987 silver dollar issue under consideration.
Tip 5: Identify Varieties and Errors: Examine the coin for any known varieties or minting errors, such as double dies or off-center strikes, as these can significantly increase value.
Tip 6: Consider Professional Grading: Submit the coin to a reputable grading service (PCGS or NGC) to obtain an objective assessment of its condition and authenticity. This can enhance its marketability.
Tip 7: Track Silver Market Fluctuations: Monitor the spot price of silver, as this influences the coin’s intrinsic value, particularly if it’s considered for its metal content rather than numismatic significance.
Tip 8: Seek Expert Appraisal: Consult a knowledgeable numismatist for a professional appraisal, especially if dealing with a high-grade or potentially rare example. Their experience can assist in determining an accurate 1987 silver dollar coin value.
Adhering to these valuation tips promotes an informed assessment, leading to judicious decision-making for both collectors and investors. Understanding these will help you with your search.
The concluding section will offer a summary of key considerations and resources, further assisting those exploring the 1987 silver dollar market.
Conclusion
The assessment of 1987 silver dollar coin value necessitates a comprehensive understanding of contributing factors. Condition, mintage figures, silver content, market demand, and third-party certification all play a critical role in determining its worth. No single element operates in isolation; instead, the interplay between these factors shapes the coin’s market valuation.
Continued due diligence and monitoring of market trends remain essential for making informed decisions within the numismatic market. The intrinsic and collectible value of the 1987 silver dollar requires ongoing assessment, acknowledging the fluctuating forces that influence its economic position.
