1887 O Morgan Dollar Value Guide and Price Chart for Collectors

Robpaulsenlive Coin » 1887 O Morgan Dollar Value Guide and Price Chart for Collectors

The 1887-O Morgan Dollar is worth anywhere from $35 in worn condition to over $1,500 in high-grade mint state. Finding one of these heavy silver coins in an old jar or safe can be an exciting moment for any American, as they represent a rugged era of Southern minting history.

Identifying Your 1887-O Morgan Silver Dollar

The 1887-O Morgan Dollar is a classic piece of American history, minted at the New Orleans Mint. You can identify this specific coin by looking at the reverse side, just above the “DO” in “DOLLAR.” If you see a small “O” mint mark, you have found a piece of Southern numismatic history. Before you run to a coin shop, it is helpful to use a top coin identifier app to confirm your coin’s variety and basic attributes.

These coins are made of 90% silver and 10% copper, containing about 0.7734 ounces of pure silver. Because of this high silver content, every 1887-O Morgan has an intrinsic “melt value” regardless of its condition. However, for collectors, the value goes far beyond the metal weight.

If you are unsure about the details on your coin, the CoinKnow app can help you zoom in on the “O” mint mark and compare it to known authentic examples. This is a crucial first step because the value varies wildly based on how much detail remains on Lady Liberty’s hair and the eagle’s breast feathers.

Understanding the Scarcity of New Orleans Mintages

In 1887, the New Orleans Mint produced over 11.5 million silver dollars. While this sounds like a massive number, many of these coins were put straight into circulation or sat in damp Treasury vaults for decades. This environmental factor is why many 1887-O dollars found today have a “flat” strike or a slightly greyish tone.

High-quality specimens from this year are actually quite difficult to find. Most everyday Americans will find coins in “Very Good” or “Extremely Fine” condition, which means the coin shows honest wear from being used in 19th-century commerce. These circulated coins are common, but they are still highly liquid assets that any coin dealer would be happy to purchase.

When assessing your collection, remember that the current market price for 1887 silver dollars depends heavily on the “eye appeal.” A coin with a deep, natural patina might sell for more than one that has been harshly cleaned. Never clean your coins, as it can strip away up to 50% of the numismatic value instantly.

Current Market Value and Price Chart

To help you understand what your 1887-O Morgan Dollar might be worth, we have compiled a price guide based on recent auction data and dealer listings. Keep in mind that “MS” stands for Mint State (uncirculated), while lower numbers like “VG” or “XF” represent coins that were used as money in the past.

According to recent sales records, the 1887-O uncirculated silver dollar value can jump significantly once the grade reaches MS-63 or higher.

Condition / Grade	Estimated Market Value
Very Good (VG-8)	$35 – $42
Fine (F-12)	$45 – $50
Extremely Fine (XF-40)	$55 – $65
About Uncirculated (AU-50)	$75 – $95
Mint State (MS-60)	$150 – $220
Mint State (MS-63)	$650 – $900
Gem Mint State (MS-65)	$2,800 – $4,500+

If you find a coin that looks like it has never been touched, you should use CoinKnow to get a professional evaluation perspective. Real MS-65 examples of the 1887-O are genuine rarities that can fetch thousands of dollars at major auction houses like Heritage or Stack’s Bowers.

Factors That Affect the 1887-O Value

There are three main factors that determine if your 1887-O Morgan Dollar is a treasure or just a nice piece of silver. The first is the strike. The New Orleans Mint was notorious for producing “weak strikes,” where the center of the coin looks blurry or soft even if the coin has never been used. A “sharp” strike with crisp details will always command a premium.

The second factor is surface preservation. Since these coins were transported in heavy 1,000-coin canvas bags, they often banged against each other, creating “bag marks” or scratches. Coins with clean “cheeks” on Lady Liberty are much rarer and more valuable.

Lastly, the presence of “toning” can change the price. Some collectors love “rainbow toning”—vibrant colors caused by the sulfur in the original canvas bags reacting with the silver. If your 1887-O has beautiful blue, pink, or gold colors, it might be worth significantly more than the chart suggests. Use CoinKnow to share photos with other enthusiasts and see how your coin’s toning compares to famous examples.

Frequently Asked Questions

Q: How can I tell if my 1887 dollar is from New Orleans?

A: Look on the back of the coin. Below the wreath and above the letters “D” and “O” in “DOLLAR,” you will see a small “O.” If there is no letter there, it was minted in Philadelphia. If there is an “S,” it is from San Francisco.

Q: Is the 1887-O Morgan Dollar rare?

A: In circulated grades (worn), it is quite common. However, it is considered very rare in grades of MS-65 or higher. Most New Orleans coins from this year were used heavily or suffered from poor storage, making pristine examples hard for collectors to find.

Q: Should I clean my 1887-O silver dollar to make it worth more?

A: Absolutely not! Cleaning a vintage coin with polish, juice, or even a soft cloth can leave microscopic scratches that destroy its numismatic value. Collectors prefer “original” skin, even if the coin looks dark or dirty.

Q: What is the silver content of an 1887-O Morgan Dollar?

A: It contains 26.73 grams of 90% silver, which results in approximately 0.77344 troy ounces of pure silver. This means the coin will always be worth at least its weight in silver, regardless of how worn it is.