1887 Morgan Dollar Value
A 1887 Morgan Dollar is worth roughly $29.00 to $282 depending on its condition; the melt floor under every example is $28.23 (spot prices as of 2026-06-01) Certified examples in top grades can run far higher.
Public domain image (struck or printed before 1926). Click to enlarge.
1887 Morgan Dollar value by grade
| Grade | Estimated value |
|---|---|
| Melt value floor(metal content, 2026-06-01) | $28.23 |
| Good (G-4) | $29.00 to $38.00 |
| Very Good (VG-8) | $29.00 to $39.50 |
| Fine (F-12) | $29.00 to $41.50 |
| Very Fine (VF-20) | $30.50 to $45.00 |
| Extremely Fine (XF-40) | $35.00 to $51.00 |
| About Uncirculated (AU-50) | $42.00 to $62.00 |
| Mint State (MS-60) | $53.00 to $77.50 |
| Choice Unc (MS-63) | $72.00 to $106 |
| Gem Unc (MS-65) | $192 to $282 |
Estimated retail range, updated 2026-06-15. Estimates are modeled from mintage rarity and metal content, not auction records. Actual sale prices vary with certification, eye appeal and market timing.
How much is a 1887 Morgan Dollar worth today?
At the entry level, well-worn examples bring about $29.00. The same coin in gem uncirculated condition is a $282 coin. Grade is everything: two examples of the 1887 Morgan Dollar can differ in price by an order of magnitude based purely on preservation.
1887 Morgan Dollar specifications
- Series
- Morgan Dollar
- Year
- 1887
- Mint mark
- None (Philadelphia)
- Mintage
- 20,290,000
- Composition
- 90% silver, 10% copper
- Weight
- 26.73 g
- Diameter
- 38.1 mm
- Edge
- Reeded
- Designer
- George T. Morgan
- Silver content
- 0.77344 troy oz
Mintage figure: US Mint reports (approximate).
Why this coin has no mint mark
The 1887 Morgan Dollar was struck at the Philadelphia Mint, which used no mint mark in this era. If you find no letter where branch-mint coins carry one (On the reverse, just below the wreath bow and above the letters DO in DOLLAR), you are holding a Philadelphia issue.
The value drivers behind this coin
With 20,290,000 struck, the 1887 Morgan Dollar is one of the more available dates of its series. Its value rests on metal content and condition rather than absolute rarity, which makes it an ideal type coin.
Every 1887 Morgan Dollar contains 0.7734 troy ounces of pure silver, currently worth $28.23. That intrinsic value is a hard floor under the price: no matter how worn the coin, the silver inside cannot be graded away.
Few series carry the following that supports the 1887 Morgan Dollar. Five mints struck Morgan dollars: Philadelphia, New Orleans, San Francisco, Carson City, and, in 1921 only, Denver. A coin that thousands of collectors are actively assembling into sets never lacks for a market.
1887 Morgan Dollar inscriptions & design
Obverse
******* E.PLURIBUS.UNUM ****** 1887
Liberty, head l.
Reverse
UNITED STATES OF AMERICA/* ONE DOLLAR *
eagle standing. on arrows and laurel sprig., within wreath. motto above
Measured 1887 Morgan Dollar specimens
6 physically measured 1887 Morgan Dollar examples in our reference database. Real measured weights and die axes let you authenticate a coin against the 26.73 g, 38.1 mm minting standard.
| Specimen | Weight | Diameter | Die axis | References |
|---|---|---|---|---|
| 1887 Morgan Dollar #1 | 26.7149 g | 38 mm | 6 h | - |
| 1887 Morgan Dollar #2 | - | - | - | Breen.5592 |
| 1887 Morgan Dollar #3 | - | - | - | Breen.5595 |
| 1887 Morgan Dollar #4 | - | - | - | Breen.5598 |
| 1887 Morgan Dollar #5 | - | 38 mm | - | Breen.5595 |
| 1887 Morgan Dollar #6 | 26.73 g | - | 6 h | Breen.5598 |
Specifications compiled from documented museum specimens. See our data & methodology page.
Summary: the 1887 Morgan Dollar is valued between $29.00 and $282 as of 2026-06-15. Estimates combine mintage rarity, key-date status and metal content; they are editorial guidance, not an offer to buy.