Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
The 1887-S Morgan Silver Dollar is worth anywhere from $45 in worn condition to over $1,200 in high-grade mint state. Whether you found this hefty silver coin in an old jar or inherited a family collection, understanding its unique San Francisco mint mark history is the key to unlocking its true market value.
| Condition / Grade | Estimated Market Value |
|---|---|
| Good (G4) to Very Good (VG8) | $45 – $50 |
| Fine (F12) to Very Fine (VF20) | $55 – $65 |
| Extra Fine (XF40) to About Uncirculated (AU50) | $75 – $115 |
| Uncirculated (MS60 – MS63) | $240 – $450 |
| Choice Uncirculated (MS65+) | $1,100 – $3,500+ |
History of the 1887-S Morgan Silver Dollar
The 1887-S Morgan Dollar is a fascinating piece of American frontier history. Struck at the legendary San Francisco Mint, this coin was part of a production run of 1,155,000 pieces. While that number might sound large, it is actually quite small compared to the millions minted in Philadelphia that same year. If you are struggling to identify your coin’s specifics, using a top coin identifier app can help you confirm the date and mint mark instantly.
During the late 19th century, silver dollars were the backbone of commerce in the Western United States. Unlike people on the East Coast who preferred paper money, Westerners loved the “clink” of hard silver. However, because many 1887-S dollars were released into circulation immediately, finding one in perfect, uncirculated condition today is surprisingly difficult for collectors.
Most of these coins sat in Treasury vaults for decades until the Great Silver Dollar Hoards were released in the 1960s. Even then, the “S” mint mark remained a favorite for those hunting for value. If you want to get an instant check on your coin’s pedigree, the CoinKnow app is an excellent tool for casual hobbyists to categorize their finds.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Identifying the “S” Mint Mark and Variety
To determine the 1887-S Morgan Silver Dollar value, you must first verify that it was actually made in San Francisco. Flip the coin to the reverse side (the side with the eagle). Look just above the letters “D” and “O” in the word “DOLLAR.” If you see a small, elegant “S,” you have a San Francisco strike. If the space is blank, it was made in Philadelphia.
The quality of the strike on the 1887-S varies significantly. Some coins appear “mushy” or flat in the hair details of Lady Liberty, while others are sharp and brilliant. This variation occurs because the San Francisco mint often used their coin dies until they were quite worn.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
For those looking for specific 1887-S MS grade price data, it is important to note that coins with a heavy “frosty” luster on Liberty’s cheek command the highest premiums. Using CoinKnow can help you compare your coin against high-resolution images of known specimens to see where yours fits in the spectrum.
Grading Your 1887-S Silver Dollar
Grading is the process of determining a coin’s level of wear. Because the 1887-S Morgan Dollar value jumps significantly once you hit the “Uncirculated” (Mint State) levels, you need to look closely at the high points of the design. On the obverse, check the hair right above Lady Liberty’s ear and the cotton bolls in her crown. On the reverse, look at the tips of the eagle’s breast feathers.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
If these areas are smooth and shiny, the coin has seen circulation and is likely in “Fine” or “Extra Fine” condition. If those areas show fine, crisp lines and the original “mint luster” (a spinning light effect when held under a lamp) is present across the whole coin, you might be looking at a several-hundred-dollar treasure.
| Grade Group | Visual Description | Typical Price |
|---|---|---|
| Circulated (Average) | Flat hair, dull surface, visible scratches. | $45 – $60 |
| About Uncirculated | Traces of wear only on highest points. | $75 – $150 |
| Lower Mint State | No wear, but many small bag marks. | $250 – $450 |
| Gem Mint State (MS65) | Strong luster, very few blemishes. | $1,200+ |
Why Condition Matters for 1887-S Dollars
The “S” mint mark is what numismatists call a “condition rarity.” While millions were made, the survival rate of coins in pristine, “Gem” condition is low. Many of these coins were transported in heavy canvas bags on bumpy stagecoaches or trains, causing them to bang against each other. This created “bag marks”—tiny nicks and scratches that lower the grade.
When you check 1887-S silver dollar value information, you will see a massive price gap between an AU58 (About Uncirculated) and an MS63 (Mint State). A single scratch on Liberty’s face can mean the difference between a $150 coin and a $400 coin.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Because the market for high-end Morgans is so competitive, professional grading by services like PCGS or NGC is often recommended for coins that appear to be uncirculated. Before spending money on professional services, you can use the CoinKnow app to get a preliminary idea of whether your coin is worth the grading fee.
Key Factors that Influence Price
Beyond the grade, several other factors can influence the 1887-S Morgan Dollar value. Eye appeal is a major one. Some silver coins develop “toning”—a natural oxidation that can turn the coin shades of blue, rainbow, or deep gold. A beautifully toned 1887-S can sell for double its standard book value at auction.
Surface “mirror” is another factor. While the Philadelphia mint made specific Proof coins for collectors, the San Francisco mint occasionally produced coins with “Proof-Like” (PL) or “Deep Mirror Proof-Like” (DMPL) surfaces. These coins have fields that act like mirrors and frosted devices. If your 1887-S has a mirror-like finish, its value could skyrocket into the thousands.
| Feature | Impact on Value |
|---|---|
| Proof-Like (PL) Surface | Adds 20% – 50% premium |
| Rainbow Toning | Highly subjective; can double value |
| Heavy Scratches/Cleaning | Reduces value by 30% – 50% |
Is Your 1887-S Silver Dollar a Good Investment?
The Morgan Silver Dollar is arguably the most collected coin in American history. Specifically, the 1887-S is considered a “semi-key date.” It is not as rare as the 1893-S, but it is much more desirable than the common 1881-S. This makes it a solid middle-ground coin for investors.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Historically, the value of Morgan Dollars has remained relatively stable, with steady growth for high-grade examples. Because these coins contain 0.7734 ounces of pure silver, they also have a “floor” value based on the current price of silver bullion. Even if the coin is completely worn flat, it will always be worth at least its weight in silver. However, for an 1887-S, the collector value almost always exceeds the silver melt value.
If you are looking to sell, avoid pawn shops and instead look for reputable coin dealers or specialized auctions. The demand for San Francisco minted Morgans remains high among “Date and Mint Mark” collectors who want to complete their sets.
FAQ
Q: Where is the mint mark on an 1887-S Morgan Dollar?
A: The mint mark is located on the reverse side of the coin, centered just above the “DO” in “DOLLAR” and below the wreath surrounding the eagle. The “S” stands for the San Francisco Mint.
Q: Does cleaning my 1887-S Morgan Silver Dollar increase its value?
A: No! Never clean your coins. Collectors prefer the original “patina” or toning. Cleaning a coin with chemicals or clothes creates micro-scratches that can reduce its numismatic value by more than half.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Q: Is the 1887-S Morgan Dollar made of real silver?
A: Yes, it is composed of 90% silver and 10% copper. It contains approximately 0.77344 troy ounces of pure silver.
Q: How can I tell if my 1887-S is a fake?
A: Common signs of a counterfeit include a lack of sharp detail, a “soapy” or oily feeling to the metal, and failing a weight test. A genuine Morgan Dollar should weigh approximately 26.73 grams. Using an app like CoinKnow for visual comparison is a great first step.
Q: What is the most expensive 1887-S Morgan Dollar ever sold?
A: High-grade specimens in MS67 condition have sold for over $15,000 at major auctions. Most coins found by the public, however, fall into the $50 to $300 range.