The 1887 Morgan silver dollars have value as both numismatic coins and as silver bullion. Keep reading to learn more about these coins.

1887 Silver Dollar

Specifications

Type: Morgan Silver Dollar
Year: 1887
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $13.09

The US minted the 1887 silver dollar with no mint mark and also the 1887 O silver dollar and 1887 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin below the wreath.

Series Location Quantity Minted
1887 Philadelphia 20,290,000
1887 O New Orleans 11,550,000
1887 S San Francisco 1,771,000

Value

This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $13.09 as of November 19, 2019. This melt value is calculated from the current silver spot price of $16.93 per ounce.

The 1887 silver dollar with no mint mark is worth around $30 in very fine condition. In extremely fine condition the value is around $33. In uncirculated condition the price is around $50 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $125.

The 1887 O silver dollar is worth around $30 in very fine condition. In extremely fine condition the value is around $33. In uncirculated condition the price is around $70 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,700.

The 1887 S silver dollar is worth around $30 in very fine condition. In extremely fine condition the value is around $33. In uncirculated condition the price is around $135 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,650.

Proof coins with no mint mark are available and they are each valued at around $3,000 in PR 63 condition. There were only 710 proof coins minted.

7 Over 6 Error Coins

There is an overlap error for both the 1887 silver dollar with no mint mark and the 1887 O silver dollar. On these error coins the number 7 is minted over the number 6. These error coins are more valuable than the standard coins, especially in uncirculated condition.

The 1887 silver dollar with no mint mark 7 over 6 error coin is worth around $45 in very fine condition. In extremely fine condition the value is around $50. In uncirculated condition the price is around $350 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,600.

The 1887 O silver dollar 7 over 6 error coin is worth around $48 in very fine condition. In extremely fine condition the value is around $70. In uncirculated condition the price is around $450 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $35,000.

Grading System

Very fine- Two thirds of Liberty's hair lines from above her forehead to her ear are visible.

Extremely fine- Liberty's hair lines and ear look strong.

MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.

MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks are present but they are barely noticeable.

PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.

 

Sources:

The Red Book


See also:

1888 Silver Dollar
1886 Silver Dollar