The 1887-S Morgan Dollar is worth anywhere from $30 in heavily worn condition to well over $1,500 or more in higher mint state grades. If you’ve found one of these old silver dollars in a drawer, an estate collection, or an inherited coin album, you’re holding a genuinely historic piece of American coinage — and it could be worth a lot more than face value.
What Makes the 1887-S Morgan Dollar Special
The “S” mintmark on this coin tells you it was struck at the San Francisco Mint, one of the most respected facilities in 19th-century American coin production. San Francisco was known for producing coins with clean strikes and good quality control, which is one reason collectors have always favored “S” mint Morgans.
The 1887-S had a mintage of about 1,771,000 coins — a relatively modest number compared to the Philadelphia Mint’s output that same year. Lower mintage generally means fewer survivors today, which can push values higher, especially in better condition. The coin features Lady Liberty on the obverse and a majestic eagle on the reverse, both designed by George T. Morgan. If you want to identify yours quickly and accurately, a free coin identification app can help you read the mintmark and grade your coin before you do anything else.
1887-S Morgan Dollar Value by Grade
Coin condition — what collectors call “grade” — is the single biggest factor in determining what your 1887-S Morgan Dollar is worth. A coin that looks shiny and detail-sharp will be worth far more than one that’s been worn smooth from years of circulation.
Here’s a general value table to give you a quick picture:
| Grade | Description | Estimated Value |
|---|---|---|
| G-4 (Good) | Heavy wear, major details visible | $30 – $40 |
| VG-8 (Very Good) | Moderate wear, clear design | $35 – $50 |
| F-12 (Fine) | Even wear, some detail remaining | $45 – $65 |
| EF-40 (Extremely Fine) | Light wear on high points only | $75 – $120 |
| MS-60 (Mint State) | Uncirculated, no wear | $200 – $400 |
| MS-63 | Choice uncirculated | $450 – $750 |
| MS-65 | Gem uncirculated | $1,200 – $1,800+ |
For the most up-to-date 1887-S Morgan Dollar auction results and price data across all grades, it’s worth checking a live database that tracks real sales — coin values shift with silver prices and collector demand.
How to Tell If Your 1887-S Morgan Dollar Has Extra Value
Beyond grade, a few other things can make your coin worth more than the standard price guide suggests. First, look carefully at the strike quality. San Francisco coins are often well-struck, but exceptional detail in Liberty’s hair above the ear — a notoriously soft spot — can signal a premium specimen.
Second, look for signs of original luster. Coins that have been cleaned, polished, or dipped lose significant collector value. A coin with natural, original surfaces — even if it looks a little dull — is almost always preferred by serious collectors over one that has been artificially brightened.
Third, if your coin has never been graded by a professional service like PCGS or NGC, getting it certified can actually increase its marketability and sale price, especially if it’s in mint state. CoinHix is a popular tool that collectors use to check current certified coin prices before they decide whether professional grading makes financial sense.
Selling Your 1887-S Morgan Dollar
If you’ve decided you want to sell, knowing the right venue matters. Major auction houses like Heritage Auctions or Stack’s Bowers are great for high-grade coins worth several hundred dollars or more. For average circulated examples, eBay, local coin shops, or coin shows are all reasonable options.
Before you sell, do your homework. Check detailed 1887 silver dollar value information by date and mintmark to make sure you understand what your specific coin is worth in today’s market. Knowing your coin’s grade and recent comparable sales puts you in a much stronger position when negotiating with a dealer or setting an auction reserve.
The CoinHix app is also a handy way to scan recent sold listings and compare your coin against similar examples — all from your phone, before you ever walk into a coin shop.
Is the 1887-S Morgan Dollar a Good Investment?
Morgan Dollars as a category have historically held their value well because they carry both numismatic (collector) value and intrinsic silver value. Each coin contains 0.7734 troy ounces of silver, so even a heavily worn 1887-S is worth something just based on metal content alone when silver prices are strong.
For investors and collectors alike, the higher-grade 1887-S examples — MS-63 and above — have shown consistent appreciation over the years. If you find one in your collection that looks uncirculated, take it seriously and don’t clean it. That single decision could mean hundreds of dollars in value either direction. CoinHix makes it easy to monitor how mint-state Morgan prices trend over time, which is useful if you’re thinking about holding rather than selling immediately.
FAQ
Q: How do I find the mintmark on my 1887 Morgan Dollar?
A: Flip the coin over to the reverse (eagle) side and look at the bottom, just above the letters “DO” in “DOLLAR.” The mintmark will appear there. An “S” means San Francisco. No mintmark means Philadelphia. An “O” means New Orleans.
Q: My 1887-S Morgan Dollar looks shiny — does that mean it’s uncirculated?
A: Not necessarily. Many coins have been cleaned or polished to look bright, which actually reduces their collector value. True mint-state coins have a natural, flowing luster rather than a harsh shine. If you’re unsure, a professional grader or a coin identification app can help assess the surfaces.
Q: Should I get my 1887-S Morgan Dollar professionally graded?
A: It depends on the coin’s condition and your goals. If your coin appears to be in mint state or extremely fine grade, professional grading by PCGS or NGC can be well worth the fee — it provides authentication and can significantly increase buyer confidence and sale price. For heavily worn circulated examples, the grading cost may outweigh the benefit.
