Your Old Coin Could Be Valuable!
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The 1887/6-O Morgan Dollar is worth anywhere from $40 in worn condition to over $12,500 in high-grade mint state. This fascinating coin is a favorite among everyday Americans because it features a clear “overdate” error that tells a story of government thriftiness and 19th-century minting history.
| Condition / Grade | Estimated Value |
|---|---|
| Good (G-4) to Very Good (VG-8) | $40 – $55 |
| Fine (F-12) to Very Fine (VF-20) | $60 – $85 |
| Extremely Fine (EF-40) | $110 – $150 |
| About Uncirculated (AU-50) | $250 – $450 |
| Mint State (MS-60+) | $1,200 – $12,500+ |
Understanding the 1887/6-O Overdate Morgan Dollar
If you have stumbled upon an old silver dollar in a drawer, you might be holding a piece of numismatic history. For those trying to identify their finds, using a top coin identifier app is the quickest way to confirm if your coin has the coveted “O” mint mark. The 1887/6-O is known as an “overdate.” This happened when the New Orleans Mint, looking to save time and resources, took a leftover die from the previous year (1886) and simply punched a “7” over the “6.”
Because this variety is relatively rare compared to standard 1887 dollars, collectors are willing to pay a significant premium. For a standard person who isn’t a specialist, identifying this requires a magnifying glass to look for the faint tail of the “6” peeking out from underneath the “7.” If you are unsure, you can use the CoinKnow app to get a high-resolution identification of the variety.
While millions of 1887 dollars were minted, only a fraction were produced with this specific overdate die. This scarcity is what drives the price up, especially when the coin is in “Uncirculated” condition. Even in lower grades, the historical significance makes it a prized possession for any American coin enthusiast.
Your Old Coin Could Be Valuable!
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Identifying the O Mint Mark and Overdate Features
To determine the value, you first need to look at the back of the coin. Below the wreath and above the “DO” in “DOLLAR,” you should see a small “O.” This indicates it was minted in New Orleans. If there is no letter at all, it was minted in Philadelphia, and the overdate variety for that mint is also valuable but has different market pricing.
The overdate feature is found on the front (obverse). Look closely at the “7” in 1887. In the 1887/6-O variety, you will see a small loop or “blip” inside the top part of the 7 and a small tail extending from the bottom. These are remnants of the original “6.” If your coin is very worn, these details might be harder to see, which is why checking the 1887 silver dollar value is essential to see how wear affects the price.
Your Old Coin Could Be Valuable!
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Professional grading services like PCGS or NGC often certify these as “VAM-3” or “Top 100” Morgan varieties. For a beginner, the CoinKnow app can help you distinguish between a standard strike and this valuable error. Don’t clean the coin! Cleaning a rare overdate can cut its market value by more than half instantly.
| Feature | What to Look For |
|---|---|
| Mint Mark | “O” (New Orleans) located on the reverse. |
| Overdate | Faint “6” visible under the last “7” in 1887. |
| Surface Luster | Look for a cartwheel shine (indicates high value). |
The Market Value of Circulated 1887/6-O Silver Dollars
Most Americans who find these coins have “circulated” examples. This means the coin was used in daily commerce and shows signs of wear. The value here is determined by how much detail remains on Liberty’s hair and the eagle’s breast feathers. While a common 1887-O might only be worth its silver weight (melt value) plus a small premium, the overdate version stays consistently higher.
In “Good” through “Very Fine” condition, you can expect the coin to sell for between $40 and $85. While this isn’t a life-changing amount, it is significantly higher than the $25-$30 price point of a regular 1887 dollar in the same condition. Collectors who are building “variety sets” are always looking for affordable circulated copies to fill their albums.
Your Old Coin Could Be Valuable!
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If your coin looks slightly shiny but has visible scratches, it may be “About Uncirculated.” These coins sit at a sweet spot for many buyers, offering great detail for a fraction of the price of a Mint State coin. The current market shows prices for 1887 Morgan Dollars in higher grades can escalate quickly as the quality improves.
| Circulated Grade | Average Price Range |
|---|---|
| Fine-12 | $60 – $70 |
| Very Fine-20 | $75 – $95 |
| Extremely Fine-40 | $120 – $160 |
| About Uncirculated-55 | $350 – $500 |
High-Grade Rarities: MS60 to MS65 and Beyond
When an 1887/6-O Morgan Dollar reaches “Mint State” (MS), meaning it never entered circulation and still has its original frosty luster, the price skyrockets. At this level, tiny scratches (bag marks) from when the coins were stored in canvas bags at the Treasury become the deciding factor in price. An MS60 coin might be worth $1,200, but an MS65 coin—one that is nearly perfect—can reach $12,500 or more at auction.
Why the huge jump? It’s simply because very few of these coins were preserved so well. The New Orleans Mint was notorious for producing coins with “weak strikes,” meaning Liberty’s hair might look flat even if the coin was never used. Finding an 1887/6-O with both the overdate clear AND a sharp strike is incredibly rare.
Your Old Coin Could Be Valuable!
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If you suspect your coin is in Mint State, do not handle it with your bare hands; use cotton gloves or hold it by the edges. You should also consider having it professionally appraised. The CoinKnow app can provide you with a preliminary “photo grade” to see if it’s worth the investment of professional certification.
Silver Content and Long-term Investment Potential
Beyond the “collector value,” every 1887/6-O Morgan Dollar contains 0.77344 ounces of pure silver. This provides a “price floor” for the coin. No matter how worn or damaged it is, it will always be worth at least its weight in silver. Currently, with silver prices fluctuating, the melt value usually sits around $20-$25.
However, investors rarely buy the 1887/6-O for the silver alone. This is a “numismatic” play. Historically, rare varieties like the New Orleans overdate have outperformed the price of raw silver. As more people enter the coin collecting hobby, the demand for “Top 100” VAM varieties like this one continues to grow, while the supply remains fixed.
Owning one of these coins is like owning a piece of 1880s New Orleans history. It represents a time when the American West was still being settled and silver dollars were the backbone of the economy. Whether you keep it for its bullion value or its rarity, it is a solid asset to hold in any family collection.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
| Asset Type | Value Driver |
|---|---|
| Silver Bullion | Global silver spot price. |
| Numismatic Value | Rarity of the 7-over-6 error and condition. |
| Historical Value | New Orleans Mint heritage (The “O” Mint). |
How to Sell Your 1887/6-O Morgan Dollar
If you decide to part with your coin, you have several options. For common circulated copies, a local coin shop is the easiest route, though they will typically offer 20-30% below retail price so they can make a profit. For higher-value Mint State coins, auction houses like Heritage Auctions or Stacks Bowers are better, as they reach serious collectors willing to pay top dollar.
Before selling, ensure you have a clear idea of the grade. Using tools like CoinKnow allows you to show potential buyers that you know exactly what you have, preventing you from being “low-balled.” Online marketplaces like eBay are also popular, but be wary of shipping high-value items without insurance.
Ultimately, the 1887/6-O Morgan Dollar is a classic American treasure. Whether you found it in an old piggy bank or inherited it from a grandparent, its combination of silver content and error-variety status makes it a uniquely valuable find in the world of numismatics.
FAQ
Q: How can I tell for sure if I have the 1887/6-O variety?
A: You need a 10x jeweler’s loupe. Look at the last “7” in the date. You should see a curved line inside the upper part of the 7 and a small nub below the crossbar of the 7. These are parts of the “6” that weren’t fully covered.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Q: Is the 1887/6-O and the 1887-O the same thing?
A: No. The “1887-O” is the standard New Orleans issue with millions made. The “1887/6-O” is a specific error variety within that year. The overdate is worth significantly more than the standard version.
Q: Should I get my 1887/6-O Morgan Silver Dollar graded?
A: If the coin looks like it has never been used (no wear on Liberty’s ear or the eagle’s breast) and the overdate is clear, then yes. Grading costs roughly $30-$50, but it can increase the resale value by hundreds or even thousands of dollars if it receives a high Mint State grade.
Q: Why did the mint punch a 7 over a 6?
A: It was purely about cost-cutting. Creating new coin dies was expensive and time-consuming in 1887. Since New Orleans had unused 1886 dies, they simply modified them to save money, a common practice during that era.