What is the value of an 1887 silver dollar?

Silver dollars, also known as Morgan dollars, are highly sought after by coin collectors due to their historical significance and intrinsic value. One such coin, the 1887 silver dollar, is a favorite among enthusiasts and investors alike. But what exactly is the value of an 1887 silver dollar? Let’s dive into the details and explore the factors that determine its worth.

**What is the value of an 1887 silver dollar?**
The value of an 1887 silver dollar can vary depending on its condition, grade, and overall rarity. On average, you can expect to find one in circulated condition valued at around $30 – $50. However, if the coin is in impeccable condition and has been well-preserved, its value could increase significantly, potentially reaching hundreds or even thousands of dollars.

It’s important to note that the value mentioned above is a general estimate and may fluctuate depending on market demand, numismatic trends, and other factors that influence the coin market.

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FAQs about the 1887 silver dollar:

1. How many 1887 silver dollars were minted?

There were approximately 20.26 million 1887 silver dollars minted in Philadelphia (no mintmark), which is a common variety. Additionally, some were minted in New Orleans (O mintmark) and San Francisco (S mintmark) with quantities of 11.1 million and 1.7 million, respectively.

2. What factors affect the value of an 1887 silver dollar?

The key factors that influence the value of an 1887 silver dollar are its condition, grade, scarcity, and the overall demand among collectors and investors.

3. How can I determine the condition of an 1887 silver dollar?

The condition of a coin can be determined by examining its surface for signs of wear, such as scratches, dents, or discoloration. Grading standards established by professional numismatic organizations can help in assessing the condition of a coin more accurately.

4. What is the significance of the 1887 silver dollar?

The 1887 silver dollar, being part of the Morgan dollar series, holds historical significance as it was minted during a time of economic growth and prosperity in the United States. It serves as a tangible artifact representing the country’s rich heritage.

5. Are 1887 silver dollars made of pure silver?

Yes, 1887 silver dollars contain 90% silver and 10% copper, making them highly valuable due to their silver content.

6. Should I clean or polish my 1887 silver dollar?

It is generally advised not to clean or polish your 1887 silver dollar or any other collectible coin. Cleaning could potentially damage the coin’s surface and negatively impact its value.

7. Where can I sell an 1887 silver dollar?

You can sell an 1887 silver dollar through various channels such as coin dealers, online auctions, or numismatic conventions. It is advisable to research and compare offers from different sources to ensure you get the best value for your coin.

8. Can an 1887 silver dollar be worth more than its numismatic value?

Yes, an 1887 silver dollar may have a higher value than its numismatic worth if it possesses unique characteristics, like errors or varieties, that are particularly sought after by collectors.

9. Can I invest in 1887 silver dollars?

While it is possible to consider 1887 silver dollars as an investment, it is crucial to evaluate market trends, consult with experts, and diversify your portfolio to make informed investment decisions.

10. What is the difference between a circulated and uncirculated 1887 silver dollar?

A circulated 1887 silver dollar shows signs of wear and tear, having exchanged hands and been in circulation. Uncirculated coins, on the other hand, have been well-preserved and exhibit little to no wear, often fetching higher prices due to their pristine condition.

11. Can I purchase a replica or counterfeit 1887 silver dollar?

Replica or counterfeit 1887 silver dollars do exist, so it is important to purchase from reputable dealers, thoroughly authenticate the coin, and seek professional advice to ensure you are purchasing a genuine and valuable piece.

12. Can the value of an 1887 silver dollar increase over time?

Yes, the value of an 1887 silver dollar can increase over time as scarcity increases, demand rises among collectors, and inflation erodes the purchasing power of currency. However, market conditions and other external factors also play a significant role in determining the coin’s value.

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