1887 Morgan Silver Dollar: A Coin with Intriguing History and Enduring Value

The 1887 Silver Dollar: A Historical Gem

The 1887 Morgan silver dollar is a cherished collectible and a significant piece of American numismatic history. Issued during a period of economic uncertainty, this beautiful coin has captivated collectors and investors alike.

The Coin's Design and Specifications:

The 1887 Morgan silver dollar was designed by George T. Morgan and features the iconic Walking Liberty on its obverse. The reverse depicts the American bald eagle perched on a rock, symbolizing the nation's strength and independence.

This magnificent coin weighs 26.73 grams and has a diameter of 38.1 millimeters. Its composition is 90% silver, 10% copper.

A Coin Born from Economic Turmoil:

The year 1887 marked a period of economic instability in the United States. The passage of the Bland-Allison Act in 1878 had authorized the Treasury to purchase large quantities of silver for coinage, leading to an influx of silver dollars.

As a result, the value of silver fell, and the government began to accumulate a vast stockpile of silver coins. In an effort to reduce the surplus, the Treasury temporarily suspended the coinage of silver dollars in 1885.

The Resumption of Coinage:

However, in 1887, the Treasury resumed the coinage of silver dollars in an effort to ease the economic strain. This batch of coins, minted at the Philadelphia, Carson City, and New Orleans mints, holds a special place in numismatic history.

Mintage and Scarcity:

The 1887 Morgan silver dollar was struck in varying quantities at each mint:

Today, the 1887 Morgan silver dollar is a highly sought-after coin among collectors. Its relatively low mintage compared to other years makes it a scarce and valuable numismatic item.

Collecting and Investing:

Collectors seeking to acquire an 1887 Morgan silver dollar face a wide range of options. The coin's value varies significantly depending on its condition and mint mark.

Uncirculated coins in pristine condition can command substantial premiums, while circulated coins with wear and tear may be available at more affordable prices. The Carson City mint mark is particularly coveted, as it was produced in the smallest quantity.

Investors may also find the 1887 Morgan silver dollar an appealing asset for diversification purposes. Silver is a precious metal with intrinsic value and has historically served as a hedge against inflation.

Pain Points and Motivations:

Collectors and investors seeking to acquire an 1887 Morgan silver dollar may encounter the following pain points:

• Scarcity: The 1887 Morgan silver dollar is a relatively scarce coin, and finding one in desirable condition can be challenging.
• Counterfeits: With the increasing value of rare coins, the prevalence of counterfeits has also risen. It is crucial to purchase coins from reputable dealers to ensure authenticity.

Motivations for collecting the 1887 Morgan silver dollar include:

• Numismatic Value: This coin holds significant historical and numismatic value, making it a desirable acquisition for collectors.
• Intrinsic Value: The coin's silver content provides intrinsic value, which can serve as a hedge against inflation.
• Investment Potential: Scarce and collectible coins like the 1887 Morgan silver dollar have historically outperformed many traditional investment vehicles.

Effective Strategies:

Collectors and investors seeking to acquire an 1887 Morgan silver dollar can employ the following strategies:

• Research: Conduct thorough research to understand the coin's history, mintage, and value.
• Attend Coin Shows: Participate in coin shows to browse dealer inventories and potentially negotiate favorable deals.
• Join Numismatic Organizations: Become a member of numismatic organizations such as the American Numismatic Association (ANA) for access to resources and expertise.
• Utilize Online Resources: Explore online forums, databases, and auction websites to locate and purchase coins.

Conclusion:

The 1887 Morgan silver dollar is a captivating coin that embodies the spirit of American history and the allure of numismatics. Its scarcity, historical significance, and investment potential make it a valuable asset for collectors and investors alike.

Whether you seek to acquire one of these beautiful coins for your collection or invest in its enduring value, the 1887 Morgan silver dollar is a testament to the intricate beauty and timeless appeal of silver coinage.