The 1887 Morgan Silver Dollar, graded MS65 by NGC, stands as one of the most sought-after coins in the numismatic community. This article explores the details that make this coin a prized collectible, its historical significance, and tips for buying and selling. A must-read for both seasoned collectors and newcomers, this guide will illuminate why the 1887 Morgan Silver Dollar deserves a place in every serious collection.
What Makes the 1887 Morgan Silver Dollar Special?
The 1887 Morgan Silver Dollar is a significant piece of American numismatic history. Struck at the Philadelphia Mint, this coin features the iconic design by George T. Morgan. The obverse showcases a profile of Liberty, adorned with a diadem, while the reverse displays a majestic eagle, a symbol of strength and freedom. The MS65 grade from NGC indicates that this coin possesses exceptional quality, with brilliant uncirculated surfaces that attract collectors’ attention.
The coin’s rarity stems from its limited mintage and the demands of collectors. Many coins circulated heavily, leading to wear and tear. In contrast, the 1887 Morgan Silver Dollar MS65 remains in pristine condition, making it a standout piece in the marketplace. As a collector, acquiring such a coin not only enhances your collection but also serves as a solid investment in precious metals.
How is the 1887 Morgan Silver Dollar Graded?
Understanding coin grading is crucial for collectors. Coins are graded on a scale from 1 to 70, known as the Sheldon coin grading scale. An MS65 grade indicates that the coin exhibits minimal imperfections, with full luster and outstanding eye appeal. Grading agencies like the Numismatic Guaranty Company (NGC) and the Professional Coin Grading Service (PCGS) maintain strict standards, ensuring that buyers receive accurately graded coins.
What is the Market Value of the 1887 Morgan Silver Dollar?
Determining the market value of the 1887 Morgan Silver Dollar involves examining several factors, including grade, demand, and market trends. As of recent data, an MS65 1887 Morgan Silver Dollar can command a price range significantly higher than lower-graded counterparts. The NGC price guide serves as an essential resource for collectors looking to assess the current market value.
The value of the 1887 Morgan Silver Dollar fluctuates based on the auction marketplace and collector interest. Coins with fewer available specimens tend to fetch higher prices, particularly in high grades. Therefore, understanding the current market dynamics is vital for both buyers and sellers in the coin community.
Where Can You Buy an 1887 Morgan Silver Dollar?
Collectors seeking to purchase an 1887 Morgan Silver Dollar have various options, including local coin shops, online marketplaces, and auctions. Websites like eBay often feature listings for these coins, allowing buyers to compare prices and conditions. However, it’s crucial to verify the seller’s reputation and the coin’s grading to avoid potential pitfalls.
For a more personalized experience, collectors can visit reputable dealers like Accurate Precious Metals, which specialize in precious metals and collectibles. While they don’t offer free shipping unless orders exceed a certain amount, their expertise can guide buyers in making informed decisions.
How to Sell Your 1887 Morgan Silver Dollar?
When selling your 1887 Morgan Silver Dollar, you should consider several avenues. Collectors can approach local coin shops, online marketplaces, or auction houses. Each option has its pros and cons, such as immediate cash offers versus the potential for higher prices at auction.
Before selling, ensure you understand the coin’s current market value and have it graded if necessary. Accurate Precious Metals can provide insight into current demand and assist in selling your coin at a competitive price. Being well-informed empowers sellers to make the best decision.
What Should You Know About Coin Collecting?
Coin collecting is a rewarding hobby that offers both enjoyment and investment potential. Understanding the basics of numismatics, including grading, market trends, and historical significance, is essential for success. The 1887 Morgan Silver Dollar serves as an excellent introduction to this fascinating world.
Joining coin clubs and attending coin shows can significantly enhance your knowledge and network within the community. These events provide opportunities to meet other collectors, exchange information, and discover rare coins that may not be available online.
What is the Historical Significance of the Morgan Dollar?
The Morgan Dollar, minted from 1878 to 1921, holds a prominent place in American history. Named after its designer, George T. Morgan, this coin symbolizes the prosperity of the late 19th and early 20th centuries. The 1887 version features a unique mintage that reflects the economic conditions of the time, making it a collectible piece for history enthusiasts.
As the United States transitioned through various economic phases, the Morgan Dollar remained a constant. Its design and durability made it a popular choice for circulation, and today, it represents both a financial investment and a piece of Americana.
How Does the 1887 Morgan Silver Dollar Compare to Other Coins?
When comparing the 1887 Morgan Silver Dollar to other coins, collectors often look at factors like mintage, rarity, and overall appeal. The 1887 Morgan Silver Dollar boasts a lower mintage compared to some years in the series, making it a more desirable option for collectors.
In contrast to other silver dollars, such as the Peace Dollar or Walking Liberty, the Morgan Silver Dollar tends to attract a different demographic of collectors. Its historical significance, combined with its beauty and rarity, positions it uniquely within the numismatic community.
What Are the Key Features of the 1887 Morgan Silver Dollar?
The 1887 Morgan Silver Dollar features distinct design elements that make it easily recognizable. The obverse includes the inscription “E Pluribus Unum” and the year of minting, while the reverse showcases the iconic eagle with the words “In God We Trust.” The coin is composed of 90% silver and 10% copper, contributing to its weight and aesthetic appeal.
When evaluating the coin, collectors should pay attention to its luster, strike quality, and any visible marks or blemishes. These factors play a significant role in determining the overall grade and value of the coin in the marketplace.
FAQs about the 1887 Morgan Silver Dollar
What is the mintage of the 1887 Morgan Silver Dollar?
The 1887 Morgan Silver Dollar had a mintage of approximately 21,726,000 coins. This figure places it among the more common years in the Morgan Dollar series, yet high-grade specimens remain scarce, particularly in MS65 condition.
Where can I find a price guide for the 1887 Morgan Silver Dollar?
Collectors can access various price guides, including the NGC price guide and other numismatic publications. These resources provide up-to-date pricing information based on recent sales and market trends, helping collectors make informed decisions.
Are there any specific care tips for storing my 1887 Morgan Silver Dollar?
When storing your 1887 Morgan Silver Dollar, use protective holders or capsules to prevent scratches and tarnishing. Keep the coin in a cool, dry environment, away from direct sunlight. Avoid handling the coin frequently to maintain its pristine condition.
What is the best way to authenticate my 1887 Morgan Silver Dollar?
To authenticate your 1887 Morgan Silver Dollar, consider using professional grading services like NGC or PCGS. These organizations provide expert evaluation based on established grading criteria. Authentication helps establish credibility and can significantly enhance the coin’s value.
Summary of Key Points
- The 1887 Morgan Silver Dollar, graded MS65, is a rare and valuable collectible.
- This coin features a striking design by George T. Morgan, representing American history.
- Understanding coin grading is essential for assessing value and quality.
- Collectors can buy and sell through various channels, including Accurate Precious Metals.
- Proper care and storage extend the life and value of your coin.
Sources
Numismatic Guaranty Company. “NGC Price Guide.” NGC, NGC Price Guide.
Professional Coin Grading Service. “PCGS CoinFacts.” PCGS, PCGS CoinFacts.