1887 Morgan Dollar
Guidelines for Collecting:
The Philadelphia Mint broke its production record of the prior year with 20,290,000 Morgan dollars struck in 1887. The record high mintage translates into the issue being the most plentiful of all Morgan issues from 1878 to 1904 when all grades, including well-worn coins, are considered. Striking varies from flat at the centers, to fairly decent. Deeply lustrous coins are more difficult to find, as the luster on this mintage is typically dull and somewhat greasy.
Availability in Circulated Grades:
Always available in most grades though lower-graded pieces often make it to the melting pot instead of collections. An abundance of AU pieces is available, mostly for a pittance over silver “melt” value.
Availability in Mint State Grades:
Abundantly represented in just about very Mint State grade imaginable right up to ultra-gem quality. Be prepared to cherrypick to find a lustrous specimen with excellent cartwheel activity and bold design details. Look for MS-65 for your collection.
Availability in Proof:
Proofs of the date can prove quite challenging if a coin with cameo contrast and exceptional eye appeal is desired—they exist but are absolutely in the minority. Patience will be rewarded.
The example to the left was sold by Stack's Bowers Galleries in the Spring 2022 Showcase Auction, where it realized $2,640.
1887 Morgan Dollar Auction Highlights
 NGC MS-68 Sold for $12,075 View Lot 4137 |  NGC PF-67 CAM Sold for $10,407 View Lot 2694 |  PCGS PR-66 CAM Sold for $9,000 View Lot 9149 |
