The item in question is a United States commemorative coin issued in 1987. It is comprised of 90% silver and 10% copper, adhering to the traditional composition of many older silver coins. Its issuance marked a specific event or celebration, making it distinct from regular circulation currency.
These particular pieces hold significance for several reasons. Primarily, their silver content provides intrinsic value beyond the face value. Furthermore, the commemorative nature often appeals to collectors, potentially increasing its worth based on rarity, condition, and historical context. The year of issue connects the item to specific events and cultural trends of the late 1980s, adding to its collectibility.
Understanding the characteristics and background is crucial before delving into topics such as mintage figures, design features, grading standards, and its overall place in the broader numismatic landscape.
1. Commemorative Issue
The status as a commemorative issue is fundamental to understanding the 1987 silver dollar coin. Its designation as such dictates its very existence, purpose, and design. Unlike standard circulating coinage, this item was specifically authorized by Congress to honor a particular event, person, or institution. Without this legislative mandate and specific celebratory purpose, the 1987 silver dollar coin would not have been produced. For instance, the 1987 Constitution Bicentennial Silver Dollar was minted to mark the 200th anniversary of the United States Constitution. This commemorative purpose defined its imagery, inscriptions, and the overall reason for its minting.
The importance of the commemorative issue extends beyond mere aesthetics. It directly impacts the coin’s collectibility and market value. Commemorative coins, by their nature, are produced in limited quantities compared to regular coinage. This scarcity, coupled with the historical significance of the commemorated event, often increases demand among collectors. Furthermore, the design elements, chosen to reflect the event, contribute to the coin’s appeal and desirability. For example, the obverse and reverse designs of the 1987 Constitution Bicentennial Silver Dollar prominently feature imagery related to the Constitution, enhancing its educational and historical value.
In summary, the “commemorative issue” designation is not merely a label, but a defining characteristic. It shapes the coin’s design, production, and market perception. Understanding this connection is critical for anyone interested in collecting, investing in, or studying these pieces of numismatic history. The commemorative aspect connects the physical coin to a broader historical narrative, transforming it from a simple piece of currency into a tangible representation of a significant event.
2. Silver Content
The intrinsic value of the 1987 silver dollar coin is significantly determined by its silver content. This composition distinguishes it from modern base-metal coinage and imbues it with a worth tied to the precious metal market, beyond its face value or commemorative appeal.
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Composition and Purity
The 1987 silver dollar coin is composed of 90% silver and 10% copper. This standard, known as “coin silver,” was common for many older U.S. silver coins. The 90% silver content means that a known weight of the coin contains a specific weight of pure silver, which is crucial for calculating its melt value and for comparing it to other silver investments. For example, a standard Morgan silver dollar also had this composition, creating a precedent for intrinsic value.
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Intrinsic Value vs. Face Value
The face value of the 1987 silver dollar coin is one dollar. However, the intrinsic valuethe value derived from its silver contentfluctuates with the market price of silver. When silver prices are high, the intrinsic value can significantly exceed the face value, making the coin more attractive as a commodity. This distinction is vital for collectors and investors who seek to capitalize on the silver market while also owning a collectible item.
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Protection Against Inflation
Silver, like gold, is often considered a hedge against inflation. The 1987 silver dollar coin, by virtue of its silver content, can act as a store of value during periods of economic instability. As fiat currencies lose purchasing power due to inflation, the value of the silver content in the coin may hold or even increase, preserving wealth. This makes the coin potentially more resilient than paper money during inflationary periods.
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Impact on Collectibility
The silver content impacts the collectibility of the 1987 silver dollar. While the commemorative aspect and condition contribute to its value, the silver ensures a base level of worth. In times of economic uncertainty or when silver prices spike, the demand for these coins can increase. Collectors see the silver content as a safeguard, while precious metal investors recognize it as an accessible form of silver investment, creating a broader market for the coin.
In conclusion, the silver content of the 1987 silver dollar coin is not merely a material component but a defining aspect that significantly affects its value, marketability, and role as a store of wealth. Understanding the interplay between silver content and commemorative value is essential for anyone interested in these historical pieces. As an example, the fluctuations in silver price directly influences the trading price of the 1987 coin.
3. Specific Design
The aesthetic characteristics of the 1987 silver dollar coin are crucial to its identity and value. The visual elements contribute significantly to its appeal and historical significance, setting it apart from standard currency and influencing its collectibility.
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Obverse and Reverse Motifs
The obverse, or front, of the coin typically features a portrait or symbol representing the event or figure being commemorated. The reverse, or back, often complements this with another related image or inscription. For example, the 1987 Constitution Bicentennial Silver Dollar features a quill pen and the words “We the People” on the obverse, symbolizing the drafting of the Constitution, while the reverse shows a group of people representing the citizens of the United States. The selection and execution of these motifs are deliberate and serve to convey the coin’s commemorative message.
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Artistic Style and Engraving
The artistic style employed in the design, as well as the quality of the engraving, impact the coin’s visual appeal and perceived value. The 1987 silver dollar coin would have been crafted by skilled engravers, whose expertise is evident in the detail and precision of the design. The style might reflect contemporary artistic trends or adhere to classical numismatic conventions. A well-executed design enhances the coin’s aesthetic value and attracts collectors who appreciate fine craftsmanship.
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Inscriptions and Legends
Inscriptions and legends are integral components of the design, providing essential information about the coin’s denomination, issuing country, and the event being commemorated. These inscriptions are carefully placed and styled to complement the overall design. For instance, the words “United States of America” and the denomination “One Dollar” are standard inscriptions, while other inscriptions might highlight the commemorative theme. Clear, legible, and well-integrated inscriptions contribute to the coin’s overall appeal and informational value.
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Mint Marks and Special Features
Mint marks, indicating the mint where the coin was produced (e.g., Philadelphia, Denver, San Francisco), are small but significant design elements. These marks can affect a coin’s value, particularly if one mint produced fewer coins than another. Furthermore, some commemorative coins may have unique design features, such as special finishes or privy marks, that further distinguish them. These features add to the coin’s collectibility and appeal to numismatists.
In conclusion, the specific design of the 1987 silver dollar coin is not merely decorative; it is a carefully considered representation of the event being commemorated. Each element, from the obverse and reverse motifs to the inscriptions and mint marks, contributes to the coin’s overall aesthetic, historical significance, and market value. Understanding these design elements enhances appreciation for the coin as a work of art and a historical artifact. The design of each coin allows it to be uniquely identified and categorized in numismatic collections.
4. Mintage Figures
Mintage figures, representing the total number of coins produced, are a critical factor in determining the scarcity and potential value of the 1987 silver dollar coin. These numbers directly influence collector demand and market prices.
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Authorized vs. Actual Mintage
Congress typically authorizes a maximum mintage limit for commemorative coins. The United States Mint may not always produce the full authorized amount. The actual mintage is the number of coins that were struck. Discrepancies between authorized and actual mintage can significantly impact value; lower actual mintage often increases scarcity and collector interest. As an example, if Congress authorized 10 million coins, but only 5 million were struck, the lower number is the critical figure for valuation.
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Proof vs. Uncirculated Mintage
Commemorative coins are generally produced in both proof and uncirculated finishes. Proof coins are struck with special dies and planchets to create a highly detailed, mirror-like finish, while uncirculated coins are produced using standard minting processes. Mintage figures for each finish are tracked separately. Differences in mintage numbers between proof and uncirculated versions can create price disparities, with the scarcer finish commanding a premium. For example, if significantly fewer proof coins were minted than uncirculated versions, the proof coins would likely be more valuable.
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Impact on Rarity and Value
Lower mintage figures generally translate to increased rarity, which often leads to higher prices in the secondary market. Coins with limited production runs are more sought after by collectors seeking to complete sets or acquire scarce pieces. The relationship between mintage and value is not always direct; demand also plays a significant role. A coin with a low mintage might not be valuable if there is little collector interest. However, all other factors being equal, lower mintage typically increases the potential for appreciation. Some 1987 silver dollars may command higher prices due to relatively lower mintage numbers compared to other commemorative issues.
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Survival Rates and Condition
The original mintage is just one aspect to consider. The number of coins that survive to the present day in good condition also influences scarcity. Coins that were heavily circulated or damaged are less desirable to collectors. Thus, a coin with a seemingly high mintage might still be considered scarce if a significant percentage has been lost or damaged over time. The condition of the coin, as graded by reputable grading services, is therefore a critical factor in assessing its overall value. A high-mintage coin in pristine condition can be worth more than a low-mintage coin in poor condition.
In summary, understanding the mintage figures for the 1987 silver dollar coin, broken down by finish and compared to authorized limits, is essential for assessing its rarity and potential value. These figures, combined with survival rates and condition assessments, provide a comprehensive picture of the coin’s place in the numismatic market. Comparing mintage numbers of the 1987 coin to other silver dollar commemoratives offers further context to its relative scarcity.
5. Collector Value
The collector value of the 1987 silver dollar coin stems from a confluence of factors, each contributing to its desirability among numismatists. These factors include, but are not limited to, its historical significance, silver content, mintage figures, condition, and aesthetic appeal. A primary driver of collector value is the coin’s commemorative nature. As a memento of a specific event or person, it connects collectors to a tangible piece of history. For instance, the 1987 Constitution Bicentennial Silver Dollar holds appeal for those interested in American history and the foundational principles of the U.S. government. This connection creates a demand that transcends the coin’s intrinsic silver value. The perception of the “1987 silver dollar coin” as a collectible has a direct influence on its market price.
The condition of the piece exerts a substantial influence on its valuation. Coins in pristine, uncirculated condition, especially those graded highly by reputable grading services like PCGS or NGC, command significantly higher prices than those with wear and tear. This premium reflects the scarcity of well-preserved examples and the importance collectors place on aesthetic quality. Furthermore, variations in mintage figures between different mints or finishes (proof vs. uncirculated) create further tiers of collector value. A lower mintage for a specific variety translates directly into increased rarity and, consequently, higher market prices. For example, if a certain mint produced a significantly smaller number of proof coins, those coins would be more sought after and valuable. It’s a fundamental principle: collector perception and scarcity drive value.
Understanding the elements that contribute to the collector value of the 1987 silver dollar coin is crucial for both seasoned numismatists and novice collectors. This knowledge informs purchasing decisions, allowing individuals to assess the potential for appreciation and avoid overpaying for a particular coin. However, it also entails navigating the subjective realm of collector preferences and market trends. Tastes and demand can shift, influencing the value of certain coins over time. Nevertheless, a thorough understanding of the factors discussed provides a solid foundation for evaluating the 1987 silver dollar coin and its place within the broader numismatic landscape. Collector interest transforms a mere coin to a unique symbol of collecting culture.
6. Historical Context
The historical backdrop against which the 1987 silver dollar coin was minted significantly influences its meaning and collector appeal. Understanding this context illuminates the motivations behind its creation and its place within the broader narrative of American history and numismatics.
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The Reagan Era Economic Landscape
The 1980s were a period of economic transformation under President Ronald Reagan, characterized by supply-side economics, deregulation, and a renewed emphasis on free markets. The commemorative coin’s issuance occurred during this era of economic optimism. The coin reflects a time of celebrating American institutions and values, exemplified by the Constitution’s bicentennial. The relative economic stability and increasing interest in collecting contributed to the coin’s initial popularity. The market for collectibles was expanding during this period.
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The Bicentennial of the U.S. Constitution
The 1987 silver dollar coin, in many instances, specifically commemorates the bicentennial of the United States Constitution. This event was a major national celebration, prompting widespread reflection on the principles and history of American governance. The coin served as a tangible reminder of this important milestone, connecting it directly to the foundational documents of the nation. The coins designs often incorporated symbols and themes associated with the Constitution, further reinforcing this connection.
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The Rise of Modern Coin Collecting
The late 20th century witnessed a surge in coin collecting as a hobby and investment. Factors such as increased disposable income, the availability of numismatic resources, and the perception of coins as a store of value contributed to this trend. The 1987 silver dollar coin benefited from this growing interest in numismatics. The marketing and distribution of commemorative coins became more sophisticated, reaching a wider audience of potential collectors. Advertisements and promotions sought to emphasize the coin’s historical significance and investment potential.
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Legislative Mandates and Commemorative Coin Programs
The issuance of the 1987 silver dollar coin was authorized by specific acts of Congress, outlining the coin’s design, mintage limits, and purpose. These legislative mandates provide valuable historical context, revealing the intentions of lawmakers and the specific events they sought to commemorate. The coin represents a continuing tradition of using coinage to celebrate national achievements and figures. Understanding the legislative history behind the coin’s creation sheds light on its significance and purpose.
The 1987 silver dollar coin, therefore, exists not in isolation but as a product of its time. Its design, production, and reception were all shaped by the economic, political, and cultural currents of the 1980s. Analyzing these historical influences enhances our understanding of the coin’s significance and its enduring appeal to collectors and historians alike. Each coin serves as a time capsule, linking us to a specific moment in American history.
7. Grading Standards
Grading standards are fundamental to assessing the value and authenticity of any coin, including the 1987 silver dollar coin. These standards provide a systematic framework for evaluating a coin’s physical condition, influencing its market price and desirability among collectors. The use of standardized grading practices ensures consistency and transparency in the numismatic market.
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Sheldon Scale and Numerical Grades
The Sheldon Scale, a numerical system ranging from 1 to 70, is the most widely used grading system for coins. Lower numbers indicate significant wear and damage, while higher numbers represent coins in near-perfect or perfect condition. The application of this scale to a 1987 silver dollar coin involves a careful assessment of its surface preservation, luster, and any imperfections. For instance, a coin graded MS-70 (Mint State 70) would exhibit no post-production imperfections at 5x magnification, while a coin graded AG-3 (About Good 3) would show considerable wear, with some details worn smooth. The Sheldon Scale offers a spectrum for grading.
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Key Grading Descriptors: Wear, Luster, and Eye Appeal
Coin grading considers several key factors: wear (abrasion from circulation or handling), luster (the reflective quality of the metal surface), and eye appeal (the overall aesthetic impression). A 1987 silver dollar coin lacking luster due to improper storage or cleaning would receive a lower grade than one with vibrant, original luster. Similarly, coins with noticeable scratches, bag marks, or other surface imperfections are penalized. “Eye appeal” encompasses subjective elements, such as the coin’s overall attractiveness and visual impact, which can influence the final grade assigned. Wear affects the overall detail of the coin design.
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Impact of Third-Party Grading Services (TPGs)
Third-party grading services, such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), provide independent and expert assessments of coin grades. These services encapsulate graded coins in protective holders, often referred to as “slabs,” which further protect them from damage and provide a guarantee of authenticity and grade. A 1987 silver dollar coin graded by a reputable TPG typically commands a higher price than an ungraded coin, due to the added assurance and standardization provided by the grading service. The reputation of the TPG also influences the market value of a coin.
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Variations and Subtleties in Grading
Even within the standardized grading system, there can be subtleties and variations in grading interpretations. Factors such as the strike quality, planchet quality, and the presence of minor errors can influence the final grade assigned to a 1987 silver dollar coin. Experienced graders take these nuances into account when assessing a coin’s overall condition and assigning a grade. The presence of a strong strike or a visually appealing toning pattern can sometimes elevate a coin’s grade or market value. Careful examination by a seasoned grader is crucial.
In conclusion, understanding grading standards is crucial for anyone involved with the 1987 silver dollar coin, whether as a collector, investor, or researcher. These standards provide a framework for evaluating a coin’s condition, authenticity, and value, ensuring transparency and consistency within the numismatic market. The application of these standards, particularly through reputable third-party grading services, enhances the coin’s marketability and protects both buyers and sellers from fraud and misrepresentation. These grading services are integral to standardization.
Frequently Asked Questions
The following section addresses common inquiries and misconceptions regarding the 1987 silver dollar coin. These questions aim to provide clarity on key aspects relevant to collectors and investors.
Question 1: What determines the market value of a 1987 silver dollar coin?
The market value is influenced by factors including condition (as graded by reputable services), mintage figures, silver content, and the presence of any unique characteristics or errors. Demand among collectors also plays a significant role.
Question 2: Is the 1987 silver dollar coin considered legal tender?
Yes, it is legal tender at its face value of one dollar. However, its intrinsic silver value and collector demand typically exceed its face value.
Question 3: How can the authenticity of a 1987 silver dollar coin be verified?
Authenticity can be confirmed by examining the coin’s design details, weight, and metallic composition. Consulting with a reputable numismatist or submitting the coin to a third-party grading service is recommended for definitive verification.
Question 4: What is the best way to store and protect a 1987 silver dollar coin?
Proper storage involves using acid-free holders or albums designed for coin preservation. Avoid handling the coin directly to prevent fingerprints or scratches. Store the coin in a cool, dry environment away from direct sunlight.
Question 5: Do all 1987 silver dollar coins have the same design?
The design depends on the specific commemorative issue. The 1987 silver dollar was primarily issued to commemorate the bicentennial of the U.S. Constitution, showcasing design elements linked to that event. Other designs may exist for different commemorative programs from the same year.
Question 6: Where can one purchase or sell a 1987 silver dollar coin?
These coins can be bought and sold through various channels, including coin dealers, numismatic auctions, online marketplaces, and precious metal retailers. Ensure the seller is reputable and the coin’s condition and authenticity are verified prior to purchase.
In summary, understanding the factors influencing the value, authenticity, and preservation of the 1987 silver dollar coin is essential for informed decision-making in the numismatic market.
The following section will cover resources for finding accurate and reliable information regarding this particular silver dollar.
Tips
The following guidelines facilitate informed engagement with the 1987 silver dollar coin, whether for collecting, investment, or historical research. These tips emphasize diligence and objective evaluation.
Tip 1: Prioritize Third-Party Grading Verification: Obtain coins graded by reputable services like PCGS or NGC. The grading process ensures an independent assessment of condition and authenticity, mitigating the risk of overpayment or acquiring counterfeits. Coins with official grades are usually easier to value.
Tip 2: Examine Mintage Figures Closely: Consult official U.S. Mint records to determine actual mintage numbers for each variety (proof, uncirculated) of the 1987 silver dollar coin. Lower mintage figures generally correlate with increased scarcity and potential value.
Tip 3: Assess Silver Content and Spot Price: Understand the coin’s silver composition (typically 90% silver) and monitor the current spot price of silver. This provides a baseline for the coin’s intrinsic value, irrespective of its collector premium. The silver price sets a lower limit on value.
Tip 4: Scrutinize Design Details for Authenticity: Familiarize oneself with the precise design elements of the specific 1987 silver dollar coin issue. Compare suspected counterfeits against known authentic examples, paying close attention to details such as lettering, imagery, and mint marks. Any deviations may indicate inauthenticity.
Tip 5: Research Historical Context Thoroughly: Investigate the historical events and circumstances surrounding the coin’s issuance. Understanding the commemorative purpose and the socio-economic climate of 1987 can enhance appreciation and inform investment decisions. Knowledge of its reason for creation is key.
Tip 6: Protect the Coin During Handling and Storage: Handle the 1987 silver dollar coin with care, avoiding direct contact with bare hands. Store it in acid-free holders or albums designed for coin preservation, minimizing exposure to air, moisture, and extreme temperatures. A long lasting storage solution prevents corrosion.
Tip 7: Compare Prices Across Multiple Sources: Before purchasing or selling the 1987 silver dollar coin, compare prices across multiple reputable sources, including coin dealers, auction sites, and numismatic publications. This ensures a fair market price and mitigates the risk of being overcharged or undersold.
Implementing these tips enhances the probability of informed acquisitions and the responsible preservation of the 1987 silver dollar coin. Diligence and rigorous evaluation are key to success in numismatics.
The subsequent section furnishes a compilation of credible resources for acquiring precise and dependable details pertaining to this particular silver dollar.
1987 silver dollar coin
This exploration has illuminated various facets of the 1987 silver dollar coin, encompassing its commemorative purpose, intrinsic silver value, design intricacies, mintage figures, collector appeal, historical context, and grading standards. The multifaceted examination revealed a subject of both inherent commodity worth and nuanced historical significance. It’s proven its purpose of commemorate the history.
Continued study and careful appraisal are essential for those engaging with these pieces, fostering a comprehensive understanding of their place in numismatic history and ensuring responsible interaction with these tangible relics of the past. Whether a seasoned collector or a novice, remember that careful research and a cautious approach is paramount for making the most informed decisions in this particular area of the coin market.
