The specific coin in question is a bullion or proof version struck by the United States Mint during the year 1987. It represents a tangible asset containing one troy ounce of .999 fine silver, with its face value designated at one dollar. This coin features Adolph A. Weinman’s Walking Liberty design on the obverse and John Mercanti’s heraldic eagle on the reverse.
This particular year holds significance within the series due to its relatively lower mintage figures compared to some other years, especially within the bullion strikes. This can lead to increased collectibility and potential premium value above the intrinsic silver content, depending on condition, mintage numbers, and market demand. Moreover, the historical context of its production, occurring during a period of fluctuations in silver prices and increased interest in precious metal investments, adds to its allure for both investors and numismatists.
Subsequently, detailed information regarding the mintage numbers, grading standards, market valuation, and key factors influencing its perceived rarity and investment potential will be further elaborated upon in the following sections.
1. Bullion and Proof Versions
The “american silver eagle 1987” was produced in two distinct formats: bullion and proof. Understanding the differences between these versions is paramount for accurate appraisal and investment decisions, as their minting processes, intended audiences, and ultimate valuations diverge significantly.
-
Minting Process and Appearance
Bullion versions are mass-produced primarily for investment purposes. Their minting process prioritizes speed and efficiency over aesthetic perfection, resulting in a coin with a standard, unpolished finish. Proof versions, conversely, undergo a meticulous minting process involving multiple strikes with specially prepared dies. This results in a highly reflective, mirror-like field and a frosted design, creating a sharp contrast and enhanced visual appeal.
-
Intended Audience and Distribution
Bullion coins are generally distributed through authorized dealers and are intended for investors seeking to acquire physical silver as a store of value. Proof coins, on the other hand, are marketed directly to collectors through the U.S. Mint, often packaged in presentation cases with certificates of authenticity. This difference in distribution channels reflects the distinct purposes of each version: investment versus collectibility.
-
Mintage Numbers and Rarity
Typically, bullion versions are produced in much larger quantities than proof versions. The lower mintage numbers of proof coins contribute to their higher collectibility and potential for increased value over time. Analyzing the specific mintage figures for the 1987 releases of each version is crucial in determining their relative scarcity and market value.
-
Pricing and Valuation Factors
The value of the bullion strike primarily hinges on the spot price of silver, with a premium added for minting costs and dealer markup. Condition, while still important, is less critical than silver content. Proof strikes, however, are valued based on a combination of silver content, condition (graded on a scale of 1-70 by third-party grading services like PCGS and NGC), rarity, and eye appeal. High-grade proof coins can command significantly higher premiums than their bullion counterparts.
In summary, the distinction between the bullion and proof versions of the “american silver eagle 1987” is fundamental to understanding its value and place within both the precious metals market and the numismatic community. These differences stem from their manufacturing processes, intended markets, and mintage figures, leading to disparate valuations and investment considerations.
2. One Ounce .999 Silver
The designation “One Ounce .999 Silver” is intrinsic to the composition and intrinsic value of the “american silver eagle 1987.” This specification confirms that each coin contains one troy ounce of silver with a fineness of 99.9%, indicating a high level of purity. This aspect is crucial for understanding the coin’s inherent worth and its role as a precious metal investment.
-
Composition and Purity
The “One Ounce .999 Silver” specification signifies the coin is composed of nearly pure silver, with only trace amounts of other metals present. This high purity level is attractive to investors seeking to acquire physical silver as a hedge against inflation or economic uncertainty. The .999 fineness also enhances the silver’s resistance to tarnishing, preserving the coin’s appearance over time.
-
Intrinsic Value Determination
The silver content directly dictates the coin’s intrinsic value, which fluctuates with the spot price of silver on the global market. Investors monitor silver prices to determine the optimal time to buy or sell these coins. This intrinsic value provides a baseline for the coin’s overall worth, regardless of its numismatic value or condition.
-
Weight and Measurement Standards
The “one ounce” measurement refers to a troy ounce, a standard unit of weight used for precious metals. One troy ounce is equivalent to approximately 31.1035 grams. This standardized weight ensures consistency and transparency in the trading and valuation of these silver coins. The precise weight and fineness are key specifications that define the product.
-
Market Recognition and Liquidity
The “One Ounce .999 Silver” designation contributes to the coin’s widespread recognition and liquidity in the precious metals market. Its consistent specifications and trusted origin facilitate easy trading and valuation across different markets and among various investors. Dealers and collectors readily recognize and accept these coins, making them a highly liquid asset.
In conclusion, the “One Ounce .999 Silver” specification is fundamental to the “american silver eagle 1987,” establishing its intrinsic value, market recognition, and appeal as a tangible silver investment. This purity and weight standard ensures its place as a trusted and liquid asset within the global precious metals market.
3. Walking Liberty Design
The “Walking Liberty Design” is not merely an aesthetic element of the “american silver eagle 1987”; it is a deliberate and historically significant choice that profoundly impacts the coin’s appeal and perceived value. This design, originally conceived by Adolph A. Weinman for the Walking Liberty half dollar (1916-1947), features a striding Liberty draped in the American flag, moving towards the dawn of a new day. The reintroduction of this iconic image on the silver eagle series connects the coin to a cherished era of American coinage, imbuing it with a sense of nostalgia and patriotic symbolism. Its integration onto the bullion series elevated the coin’s artistry beyond a mere vessel for silver content, thereby expanding its attraction to collectors.
The design’s enduring popularity directly translates to the coin’s market performance. Bullion coins featuring visually appealing and historically relevant designs typically command higher premiums than those with less distinctive imagery. For example, the consistent demand for silver eagles across the years underscores the effectiveness of the “Walking Liberty Design” in attracting both investors and numismatists. The design’s intricate details and symbolic representation of American ideals contribute to its aesthetic value, thereby fostering demand among collectors who appreciate the coin as a work of art in addition to its silver content.
In conclusion, the “Walking Liberty Design” constitutes a vital component of the “american silver eagle 1987’s” identity and value. Its historical significance, artistic merit, and contribution to market demand are undeniable. Understanding this connection allows investors and collectors to appreciate the coin beyond its intrinsic silver value and recognize its place within the broader context of American numismatic history. The selection of this specific design was a strategic decision that has proven successful in maintaining the silver eagle’s enduring appeal and market dominance.
4. Lower Mintage Bullion
The term “Lower Mintage Bullion,” when applied to the 1987 edition, directly influences its market value and collectibility. In the context of a bullion coin, mintage refers to the total number of coins produced by the mint. A lower mintage figure indicates a smaller supply, which, all other factors being equal, can increase demand and subsequently, the coin’s premium above its intrinsic silver value. For the “american silver eagle 1987,” any scarcity, due to comparatively limited production figures relative to other years in the series, translates to heightened interest from collectors and investors seeking potentially rarer examples.
Evidence of this effect can be observed in market analysis of the series. Years with demonstrated lower mintage numbers often command higher prices in the secondary market, even in similar grades, when compared to those produced in larger quantities. This dynamic is particularly pronounced amongst uncirculated examples, where condition is a critical factor in valuation. For example, if the 1987 bullion strike has proven statistics showing a lower production, graded examples in Mint State 69 or Mint State 70 often realize significant premiums at auction or in private sales, highlighting the influence of this scarcity factor. A lower mintage means fewer examples are available, intensifying competition among those seeking to complete a collection or capitalize on potential appreciation.
In summary, the “Lower Mintage Bullion” aspect of the 1987 coin is a key determinant of its market performance. This characteristic increases its potential collectibility, driving up demand and ultimately influencing its value. While the price of silver provides a base value, the comparatively smaller number produced further drives the value for investors and collectors. Understanding this relationship is crucial for anyone looking to invest in this specific year within the american silver eagle series.
5. Potential Premium Value
The “american silver eagle 1987” possesses a “Potential Premium Value” beyond its intrinsic silver content, an element driven by factors extending beyond the metal’s spot price. This premium represents the additional worth attributed to its collectibility, condition, historical significance, and mintage figures. The causes for this premium are multifaceted, stemming from its perceived rarity, demand from collectors seeking to complete series sets, and the general market sentiment towards silver as an investment vehicle. The importance of this premium lies in its capacity to significantly augment the coin’s overall worth, transforming it from a mere store of silver into a numismatic asset with potential for appreciation. An example of this phenomenon is observed in graded examples, where coins assessed as Mint State 69 or Mint State 70 consistently realize prices far exceeding the value of their silver content, reflecting the premium commanded by condition and perceived rarity. The practical significance of understanding this premium is that it informs investment strategies, allowing buyers to make informed decisions based not solely on the fluctuating silver market but also on the long-term potential of the coin as a collectible item.
Further analysis reveals that external factors, such as third-party grading service assessments (PCGS, NGC), influence the “Potential Premium Value.” A higher grade invariably results in a larger premium, as it confirms the coin’s superior condition and authenticity. For example, a “american silver eagle 1987” graded MS70 by PCGS might command a substantially higher price compared to an ungraded or lower-graded example, even if they were both initially acquired for the same price. Furthermore, the timing of the purchase and sale also impacts the realized premium. Periods of heightened interest in precious metals or specific numismatic events (e.g., coin shows, auctions) can create temporary spikes in demand, potentially increasing the premium obtained upon sale. Finally, marketing and promotion efforts by dealers and collectors can generate increased awareness and desirability, which positively affects the premium.
In conclusion, the “Potential Premium Value” of the “american silver eagle 1987” is a dynamic attribute affected by a range of variables, from its mintage figures and condition to market sentiment and grading assessments. While predicting the exact future premium remains inherently challenging due to market fluctuations, understanding the underlying factors contributing to this value is essential for making informed investment decisions. Ignoring this numismatic aspect and focusing solely on silver content overlooks a significant component of the coin’s potential return, impacting its worth. Integrating this knowledge improves overall investment accuracy and potential profitability.
6. Silver Price Fluctuations
Silver price fluctuations exert a direct influence on the market valuation of the “american silver eagle 1987.” As a bullion coin containing one troy ounce of .999 fine silver, its intrinsic value is inextricably linked to the prevailing spot price of silver. When silver prices rise, the baseline value of the coin increases proportionally, making it a more attractive investment. Conversely, when silver prices decline, the coin’s intrinsic value diminishes, which can dampen investor enthusiasm. The importance of understanding this connection lies in recognizing that the price of silver forms a foundational component of the coin’s worth, regardless of its numismatic value or collectibility.
However, the relationship is not solely a one-to-one correspondence. The “american silver eagle 1987” also possesses a premium over its intrinsic silver value, dictated by factors such as mintage figures, condition, and collector demand. Silver price volatility can influence this premium. During periods of economic uncertainty or inflation concerns, investors often seek safe-haven assets like silver, which can lead to increased demand for physical silver coins, potentially widening the premium. For instance, during the financial crisis of 2008, silver prices experienced significant fluctuations, and the premiums on silver eagles, including the 1987 issue, rose due to heightened investor interest. Alternatively, periods of economic stability or declining inflation may diminish safe-haven demand, causing the premium to contract. The practical significance of this understanding lies in timing purchases and sales strategically. Investors who anticipate silver price increases may choose to acquire the coin to capitalize on both the intrinsic value appreciation and potential premium expansion. Similarly, those expecting silver price declines may opt to sell, maximizing their return before the premium potentially diminishes.
In conclusion, silver price fluctuations act as a fundamental driver of the “american silver eagle 1987’s” market value. While its numismatic qualities contribute to a premium above the silver content, the spot price of silver dictates the coin’s baseline worth. Recognizing this interplay between silver price movements and market premium allows investors and collectors to make informed decisions, maximizing potential returns and mitigating risks within the precious metals market.
7. Investor Interest Increase
Increased investor interest directly influences the demand and market valuation of the “american silver eagle 1987.” This interest stems from diverse factors, including economic conditions, inflationary concerns, and the perceived security of precious metals as an investment asset. Its correlation with the coin’s performance is crucial for understanding its potential as a store of value and a collectible item.
-
Economic Uncertainty and Safe-Haven Demand
Periods of economic instability, characterized by stock market volatility or recessionary fears, typically drive investors towards tangible assets like silver. The “american silver eagle 1987,” as a recognizable and easily tradable form of physical silver, becomes an attractive safe-haven investment. The increase in demand during such times results in higher premiums above the spot price of silver, benefiting those holding the coin.
-
Inflationary Pressures and Hedging Strategies
Rising inflation erodes the purchasing power of fiat currencies, prompting investors to seek hedges against inflation. Silver, along with gold and other precious metals, has historically served as an effective inflation hedge. As inflation rates increase, demand for the “american silver eagle 1987” tends to rise, pushing its value upward. The coin offers investors a tangible means to preserve wealth during inflationary periods.
-
Collectibility and Numismatic Appeal
Beyond its intrinsic silver content, the “american silver eagle 1987” also attracts collectors due to its design, historical context, and potential rarity. Increased collector interest, often driven by factors such as low mintage numbers or the discovery of rare varieties, can significantly enhance its premium value. The coin transitions from a simple bullion asset to a numismatic item with added value based on scarcity and collector demand.
-
Market Awareness and Promotion
Active promotion and marketing efforts by dealers, numismatic organizations, and online communities can raise awareness of the “american silver eagle 1987” and its investment potential. Increased visibility can lead to higher demand and greater liquidity in the secondary market. Positive press coverage and expert endorsements can also contribute to investor confidence and, consequently, higher prices.
The confluence of these factors related to increased investor interest significantly impacts the market dynamics surrounding the “american silver eagle 1987.” Understanding these connections is paramount for investors and collectors seeking to capitalize on the coin’s potential as a store of value, a hedge against economic uncertainty, and a collectible asset.
8. Collectibility Significance
The “american silver eagle 1987” holds considerable collectibility significance, primarily stemming from its position within the broader american silver eagle series and its unique attributes. This collectibility influences market demand and valuation, often exceeding the coin’s intrinsic silver content. The relatively lower mintage of the 1987 bullion strikes, compared to some subsequent years, contributes to its appeal among collectors seeking to complete series sets or acquire scarcer examples. Its status as an early issue within a highly popular series further amplifies its collectibility. The “Collectibility Significance” is not merely a subjective assessment but a tangible factor affecting market behavior. For instance, graded examples in pristine condition (MS69 or MS70) frequently command premiums significantly higher than their silver value, demonstrating the market’s willingness to pay for collectibility. This phenomenon underlines the direct relationship between collector demand and perceived value. The condition, combined with the date, and mint mark become factors driving value.
The specific collectibility value also responds to external market factors and grading results. The presence of varieties, such as minor die variations or errors (if discovered and authenticated), can further amplify a particular coin’s significance. Furthermore, the grading standards applied by reputable third-party services (PCGS, NGC) play a critical role. A high grade from a well-regarded grading service significantly enhances a coin’s desirability among collectors. For example, a “american silver eagle 1987” certified as MS70 by PCGS will typically attract a higher premium compared to an ungraded example or one graded lower, even if the silver content is identical. Auction results for certified coins provide data and reveal the potential premiums assigned.
In conclusion, the “Collectibility Significance” of the “american silver eagle 1987” is a crucial factor in determining its overall value and market performance. It is a component driven by rarity, condition, grading, and its position within a popular series. Understanding this relationship is essential for both collectors and investors aiming to navigate the american silver eagle market effectively. By carefully considering these numismatic elements, one can more accurately assess the coin’s potential appreciation beyond its intrinsic metal value. The interplay of supply, demand, and market perceptions directly translates to a coin’s overall collectibility and price.
9. Mint State Grades
The assessment of “Mint State Grades” is a critical component in determining the value and desirability of an “american silver eagle 1987.” These grades, assigned by independent grading services, provide a standardized evaluation of a coin’s condition, directly impacting its market price.
-
The Sheldon Scale and its Application
The Sheldon Scale, ranging from 1 to 70, is the industry standard for grading coins. Mint State grades, specifically MS-60 to MS-70, denote coins that exhibit no wear from circulation. The scale provides a framework for differentiating coins based on subtle differences in surface preservation, luster, and strike quality. For an “american silver eagle 1987,” even minor imperfections can significantly affect its grade and subsequent market value.
-
Key Grading Criteria for Silver Eagles
When grading an “american silver eagle 1987,” graders consider several key factors. These include the presence of scratches, contact marks, hairlines, and bag marks. Luster, or the way light reflects off the coin’s surface, is also crucial. A strong, original luster is highly desirable. The sharpness of the strike, particularly on the high points of the design like Liberty’s face and the eagle’s feathers, is another important element. These factors, when collectively assessed, determine the final grade assigned to the coin.
-
Impact of Third-Party Grading Services
The grades assigned by reputable third-party grading services (TPGs), such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation), carry significant weight in the numismatic market. These services authenticate coins, assign a grade, and encapsulate them in protective holders. A high grade from a respected TPG provides assurance to buyers and sellers regarding the coin’s authenticity and condition, significantly influencing its liquidity and value. An “american silver eagle 1987” graded MS-69 or MS-70 by PCGS or NGC will typically command a substantial premium compared to an ungraded example or one graded lower.
-
Market Value and Grade Sensitivity
The market value of an “american silver eagle 1987” is highly sensitive to small variations in grade. For example, the price difference between an MS-68 and an MS-69 example can be substantial, potentially hundreds or even thousands of dollars, depending on market conditions and demand. The premium associated with higher grades reflects the rarity of coins in exceptional condition and the strong collector demand for such examples. This sensitivity underscores the importance of accurate grading and the role it plays in price discovery.
In summary, “Mint State Grades” are integral to the evaluation and market valuation of an “american silver eagle 1987.” These grades, determined by established criteria and validated by reputable grading services, provide a standardized assessment of condition, directly impacting collector demand and, consequently, the coin’s price. A thorough understanding of the grading process is crucial for both collectors and investors seeking to participate in the american silver eagle market.
Frequently Asked Questions About the “american silver eagle 1987”
This section addresses common inquiries and misconceptions regarding the “american silver eagle 1987,” providing factual information for collectors and investors.
Question 1: Is the “american silver eagle 1987” a rare coin?
Rarity is relative. Compared to other years in the series, the 1987 bullion strike is considered to have a comparatively lower mintage, which can impact its value. However, it is not considered one of the rarest issues in the entire american silver eagle series.
Question 2: What is the silver content of the “american silver eagle 1987?”
The coin contains one troy ounce of .999 fine silver.
Question 3: How does grading affect the value of the “american silver eagle 1987?”
Grading by reputable third-party services like PCGS or NGC significantly impacts value. Coins in higher grades (MS69, MS70) command substantially higher premiums due to their superior condition.
Question 4: What is the difference between a bullion and proof “american silver eagle 1987?”
Bullion coins are mass-produced for investment, while proof coins are struck with greater care for collectors. Proofs feature a mirrored surface and frosted devices, typically have lower mintages and are sold directly from the mint.
Question 5: Does the silver price directly dictate the value of the “american silver eagle 1987?”
The silver price is a primary factor in its intrinsic value. However, collectibility, condition, mintage figures, and market demand can add a premium to its price.
Question 6: Where can the “american silver eagle 1987” be purchased or sold?
This coin can be purchased or sold through reputable coin dealers, online marketplaces, and auction houses specializing in numismatic items.
The “american silver eagle 1987” represents a confluence of silver content and potential numismatic value. Prudent evaluation of the coin’s condition, mintage, and prevailing market factors is crucial for informed decision-making.
The subsequent article section will summarize key considerations for investing or collecting “american silver eagle 1987,” offering a concise overview of the information presented.
Tips for Investing in or Collecting the “american silver eagle 1987”
This section offers essential guidance for those considering investing in or collecting the “american silver eagle 1987,” emphasizing key considerations for informed decision-making.
Tip 1: Assess Mintage Figures:
Prior to purchase, research the documented mintage figures for both the bullion and proof strikes of the coin. Lower mintage numbers often indicate a higher potential for premium value above the silver content.
Tip 2: Prioritize Third-Party Grading:
Whenever feasible, acquire coins graded by reputable services like PCGS or NGC. Certified grades provide assurance of authenticity and condition, enhancing their marketability and potential return. Lower grades can be acquired at a discount.
Tip 3: Monitor Silver Price Fluctuations:
Track silver price movements to identify optimal buying opportunities. Consider purchasing when silver prices are relatively low to maximize your intrinsic value investment.
Tip 4: Understand Market Premiums:
Research the current market premiums for the “american silver eagle 1987” across different grades and sales venues. Premiums reflect the coin’s collectibility and demand, contributing to its overall value.
Tip 5: Inspect for Counterfeits:
Before buying, carefully inspect the coin for any signs of counterfeiting. Verify weight, dimensions, and design details against established standards. Purchase from reputable dealers to minimize the risk of acquiring a fraudulent example.
Tip 6: Consider Long-Term Appreciation:
While silver prices may fluctuate in the short term, the “american silver eagle 1987” has the potential for long-term appreciation due to its silver content, collectibility, and historical significance.
Tip 7: Store Coins Properly:
To preserve the coin’s condition and value, store it in a protective holder or capsule. Avoid handling the coin directly to prevent scratches or blemishes.
Adherence to these tips can aid in navigating the market for “american silver eagle 1987” with greater precision and potentially enhanced returns.
The concluding section will summarize the main insights covered in this exploration of the “american silver eagle 1987,” providing a consolidated understanding of its key attributes.
Conclusion
The foregoing analysis has detailed key characteristics of the “american silver eagle 1987”, including its silver content, mintage nuances, grading factors, and the interplay between silver price fluctuations and market premiums. The coin’s value is demonstrably influenced by its intrinsic silver worth, compounded by its collectibility, which is in turn affected by condition and relative scarcity. Understanding these components allows for a more nuanced assessment of its potential as both an investment and a numismatic asset.
The “american silver eagle 1987” represents a tangible asset with a multifaceted valuation profile. Prospective investors and collectors are encouraged to conduct thorough research and seek expert guidance to navigate the market effectively. Continued monitoring of market dynamics and adherence to established grading standards are essential for optimizing outcomes in the pursuit of this specific coin.
