1887 P Morgan Silver Dollar Brilliant Uncirculated AZN3 $1 MS63 NGC. Only 1 left in stock - order soon. Pricing the 1887 Morgan Silver Dollar. Many examples of the 1887 Morgan silver dollar survive today, and most can be found in very high grades. Even those in the lowest grades are always worth their value in silver (which is, as of this writing, $12.50). Examples between Good 4 and Fine 12 have a price that is between $20 and $30. A grade of Very Fine 20 has an associated price of $36, and even a significant increase to Extremely Fine 40 sees only a marginal price increase.
1987 was the second year of the American silver eagle series, an array of bullion coins that the United States first offered in 1986 primarily for precious metal investors. The American silver eagle had proven quite popular in only its first year of minting, and in 1987, production was stepped up significantly among uncirculated pieces, with 11,442,335 made at the Philadelphia mint. 904,732 proofs were made at the San Francisco mint.
The American silver eagle features an obverse design depicting Miss Liberty walking with an olive branch in her left arm and her right arm outstretched before a rising sun. If this design looks familiar to you, it is because it was featured on the half dollar from 1916 through 1947. The Walking Liberty half dollar, designed by Adolph A. Weinman, has been considered among the world’s most beautiful coins. The reverse of the American silver eagle shows a heraldic eagle spreading a banner that reads E PLURIBUS UNUM, a design reminiscent of Draped Bust quarters, half dollars, and dollars as well as Barber quarters and half dollars.
When buying any American silver eagles, be sure you choose well-preserved specimens, as many – particularly older dates – have been stored individually in folders or albums and may exhibit signs of unsightly toning or mishandling.
There are a couple of major die varieties among 1887 Morgan Silver Dollars, and several more minor ones if you were to talk to a VAM (Leroy C. Van Allen and A. George Mallis) variety enthusiast. However, none of the varieties from 1887 are particularly rare. 1887 is one of the “least expensive” years across the board for Morgan Dollars, which gives collectors a decent reprieve when it comes to buying circulated coins in the series. Morgan Silver Dollars in the surrounding years (1886 and 1888) series each have at least one vastly expensive issue that must be purchased to work toward a complete date-and-mintmark set.
The 1887 Morgan Silver Dollar was produced in three mints: New Orleans, Philadelphia, and San Francisco. The New Orleans Mint used an 'O' and the San Francisco Mint an 'S”. The main mint in Philadelphia did not use a mintmark. Proof examples of Morgan Dollars from all years, including 1887, are rare which makes them expensive.
1887 Morgan Silver Dollar Mintage Figures
While prices for 1887 Morgan Dollars are quite reasonable in the lower grades, you will notice a major increase in price as you ascend toward the higher grades and, most particularly, uncirculated pieces from the year. Only the Philadelphia Mint entry from 1887 can be had for under $100 in uncirculated grades; the 1887-O 7 over 6 variety sets collectors back more than $500 for a Mint State version.