1887 Dollar Coin Value: A Comprehensive Guide

Introduction

The 1887 dollar coin, also known as the Morgan dollar, is a highly sought-after collectible due to its rarity and historical significance. If you're lucky enough to own one, its value can range from a few hundred dollars to several thousand dollars. This comprehensive guide will provide you with all the information you need to understand the factors that influence its price and how to determine its worth.

Factors Affecting 1887 Dollar Coin Value

The value of an 1887 dollar coin is determined by several factors, including:

Mint Mark: Different mint marks indicate where the coin was minted. Coins from the Carson City Mint are generally more valuable than those from other mints.

Condition: The condition of the coin refers to its physical appearance. Coins that are well-preserved and have minimal wear are worth more than those that are in poor condition.

Rarity: The rarity of the coin is based on the number of coins that were minted. Coins that were produced in smaller quantities are more valuable.

Grade: The grade of the coin is a numerical rating that represents its condition. Coins that are graded higher are worth more than those that are graded lower.

Grading 1887 Dollar Coins

The grading of 1887 dollar coins is done by professional numismatists. The most widely recognized grading scale is the Sheldon Scale, which assigns a number between 1 and 70 to each coin. The higher the grade, the better the condition of the coin.

Identifying Counterfeit 1887 Dollar Coins

Counterfeit 1887 dollar coins are not uncommon. Here are some ways to identify them:

• Examine the coin's weight and dimensions. Counterfeit coins are often lighter or have different dimensions than genuine coins.
• Look for any signs of wear. Counterfeit coins often have unnatural or excessive wear patterns.
• Check the coin's surface. Counterfeit coins may have a grainy or rough surface.
• Examine the coin's edges. Counterfeit coins often have poorly defined or irregular edges.

Where to Sell 1887 Dollar Coins

If you decide to sell your 1887 dollar coin, there are several options available to you:

Coin Dealers: Coin dealers specialize in buying and selling coins. They can provide you with an appraisal of your coin and offer a fair price.

Online Marketplaces: Online marketplaces such as eBay and Etsy allow you to sell your coin to a global audience. However, it's important to be aware of the potential for fraud.

Auctions: Coin auctions are a great way to get the highest price for your coin. However, it's important to choose a reputable auction house and be prepared to pay a commission.

Conclusion

The 1887 dollar coin is a valuable collectible that can be worth a significant amount of money. By understanding the factors that influence its price and how to determine its worth, you can make an informed decision about its sale.

Additional Information

Frequently Asked Questions about 1887 Dollar Coin Value:

• What is the average value of an 1887 dollar coin? The average value of an 1887 dollar coin in good condition is around $500. However, the value can vary significantly depending on the factors mentioned above.
• What is the most valuable 1887 dollar coin? The most valuable 1887 dollar coin is the 1887-S dollar, which was minted in San Francisco. In 2021, an 1887-S dollar graded MS67+ sold for over $2 million at auction.
• How can I get my 1887 dollar coin graded? You can get your 1887 dollar coin graded by sending it to a professional grading service such as the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS).

Table 1: 1887 Dollar Coin Prices by Mint Mark

Table 2: 1887 Dollar Coin Prices by Grade

Table 3: 1887 Dollar Coin Mintage by Mint Mark

Table 4: Common Mistakes to Avoid When Selling 1887 Dollar Coins

• Not getting your coin graded: A graded coin will sell for a higher price than an ungraded coin.
• Selling your coin to a disreputable dealer: Do your research and choose a dealer who is reputable and trustworthy.
• Not knowing the value of your coin: Before you sell your coin, it's important to research its value and get an appraisal.
• Not cleaning your coin: Cleaning your coin can damage it and reduce its value.
• Not storing your coin properly: Store your coin in a protective case or holder to prevent damage.