1887 Morgan Silver Dollar

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

•          1887: 20,290,000; $35+
•          1887-O: 11,550,000; $35+
•          1887-O 7 Over 6: mintage included above; $45+
•          1887-S: 1,771,000: $40+
•          1887 Proof: 710; $3,000

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.