The 1887/6 Morgan Dollar is worth anywhere from $60 in worn condition to over $20,000 for high-grade specimens. This fascinating “overdate” coin is a favorite among American families who discover old collections, as it represents a unique piece of U.S. Mint history where an old 1886 die was reused for the 1887 production.
| Condition / Grade | Estimated Value (USD) |
|---|---|
| Good to Fine (Circulated) | $60 – $95 |
| Extremely Fine (XF45) | $110 – $150 |
| Uncirculated (MS60-MS63) | $250 – $650 |
| Choice Uncirculated (MS65+) | $2,500 – $20,000+ |
Understanding the 1887/6 Morgan Dollar Overdate Rarity
If you have stumbled upon an 1887 Morgan Dollar, you might be looking at a standard coin or the much more valuable “87 over 6” variety. During the late 19th century, the U.S. Mint occasionally recycled dies to save money and time. In this specific case, the 1886 date was punched over with a 7, creating a visible “ghost” of the 6 underneath the final digit.
For the average person, identifying this can be tricky without the right tools. Many collectors recommend using the best coin identifier app to zoom in on the date area. The 1887/6 O (New Orleans) and the 1887/6 (Philadelphia) are the two main versions of this error. Because these were meant to be corrected, the surviving number of coins showing the 6 is limited, driving up the price significantly compared to the common 1887 strike.
When you use an app like CoinHix, you can quickly determine if your coin has the characteristic “tripling” or the bottom loop of the 6 protruding from the 7. This small detail is what separates a $40 silver coin from a $500 investment piece. Always check the date under a magnifying glass before assuming it is just a regular dollar.
How to Identify the 1887 Over 6 Detail
Identifying the 1887/6 Morgan Silver Dollar requires a keen eye for detail. The most prominent indicator is found within the “7” of the date. If you look closely at the lower half of the 7, you will see a curved line or a small protrusion that belongs to the original “6.” This is often referred to by collectors as VAM-3 (for the Philadelphia mint) or other specific VAM designations.
The Philadelphia Mint version is generally more common than the New Orleans version. However, “common” is a relative term in the world of rare coins. To get an accurate reading on current market trends, you should consult an 1887 silver dollar value guide to see how your specific sub-variety is performing at recent auctions. Even a faint “6” can add a 50% premium over the standard 1887 price.
Beyond the date, you should also look for “die cracks” or other unique marks. Because these dies were used longer than intended, they often show signs of wear and tear, such as fine lines running through the stars or the lettering. Recording these details in CoinHix helps you build a digital portfolio of your finds and ensures you don’t overlook a high-value error.
1887/6 Morgan Dollar Price Table by Grade
Value is almost entirely dependent on the “grade” or the physical condition of the coin. A coin that has been jingling in someone’s pocket for years will be worth significantly less than one that has been tucked away in a silk pouch. Professional graders use a 1-70 scale, but for most people, the categories below provide a realistic expectation of what they might receive from a coin shop or online buyer.
| Grade Designation | Description | Estimated Market Value |
|---|---|---|
| Very Good (VG8) | Heavy wear, but all major features visible. | $55 – $65 |
| Fine (F12) | Moderate wear, Liberty’s hair lines are worn. | $75 – $90 |
| About Uncirculated (AU50) | Slight wear on high points, some mint luster. | $150 – $220 |
| Mint State (MS63) | No wear, attractive shine, typical bag marks. | $500 – $700 |
| Mint State (MS65) | Gem quality with spectacular “frosty” luster. | $3,000+ |
Factors That Influence the 1887/6 Morgan Dollar Worth
While the overdate is the primary “hook” for this coin, other factors play a massive role in its final sale price. One of the most important is “eye appeal.” A coin can be technically high-grade, but if it has ugly black spots or has been harshly cleaned (which leaves fine scratches and a dull appearance), its value will plummet.
Another factor is the mint mark. If you look on the back of the coin, just above the “DO” in “DOLLAR,” you might see an “O.” This indicates it was minted in New Orleans. The 1887/6 O is a well-known variety, and its current Morgan Dollar market value is often higher than Philadelphia (no mint mark) versions in certain uncirculated grades. Collectors often try to complete sets including both mint locations.
Finally, “Luster” is the way light dances off the surface of the silver. Because the 1887/6 dies were aged, truly lustrous examples are rare. If your coin looks like a mirror or has a soft, satiny glow, it is likely in “Mint State.” Using CoinHix to compare your coin’s surface against high-resolution photos of graded coins can help you decide if it is worth the $30-$50 fee to have it professionally certified by NGC or PCGS.
The Difference Between Philadelphia and New Orleans Mints
In 1887, three mints produced silver dollars: Philadelphia, New Orleans, and San Francisco. However, the 1887/6 overdate is predominantly associated with Philadelphia and New Orleans. The Philadelphia minting of this variety is often referred to as the “Top 100” VAM, making it highly desirable for specialists who collect the Morgan series by die variety.
The New Orleans (O) mint was notorious for “weak strikes” during the late 1880s. This means that even if a coin has never been used in commerce, the details in the eagle’s breast feathers or the hair above Liberty’s ear might look flat. If you find an 1887/6 O Morgan with a “strong strike” (sharp details), you have found something truly special.
| Mint Mark | Location | Commonality of Overdate |
|---|---|---|
| None | Philadelphia | Most frequently found variety. |
| O | New Orleans | Highly sought after by variety collectors. |
| S | San Francisco | Overdate not typically recognized for this mint. |
History and Collecting Advice for the 1887/6 Morgan
The Morgan Silver Dollar is perhaps the most iconic American coin. Minted from 1878 to 1904 (and once more in 1921), it represents the American West and the massive silver strikes of the era. The 1887/6 variety is a fun “detective” piece for new hobbyists because it proves that even the government makes mistakes.
When you are ready to sell or buy one of these coins, do not rush into the first offer. Many local pawn shops will only offer you the “melt value” of the silver (usually around $20-$25 depending on market rates). However, an 1887/6 overdate is a collector’s item, and its numismatic value far exceeds its raw silver weight.
Always keep your coins in PVC-free flips or holders. Touching the surface of the silver with your fingers can leave oils that cause permanent damage over time. If you think you’ve found the “ghost 6,” take clear photos and use a community or an app to verify the die markers. This small step can protect you from selling a multi-thousand-dollar rarity for “pocket change” prices.
FAQ
Q: How can I tell if my 1887 Morgan is an 1887/6?
A: You will need a 10x jeweler’s loupe or a high-quality smartphone zoom. Look at the “7” in the date. If you see a small, curved line inside the bottom loop of the 7 or a “bar” sticking out from the top crossbar of the 7, it is likely the overdate. It is often easiest to spot by comparing it side-by-side with a standard 1887 dollar.
Q: Is a cleaned 1887/6 Morgan Dollar still worth money?
A: Yes, because it is a rare variety, it will still be worth more than a standard silver dollar. However, cleaning a coin can reduce its collector value by 50% or more. Never polish or scrub your old coins! A “Details” grade (meaning the coin has been cleaned) might sell for $100, while an original, uncleaned version could sell for $300 in the same condition.
Q: Where is the best place to sell an 1887/6 Morgan Silver Dollar?
A: For high-value coins (MS63 or higher), reputable auction houses like Heritage Auctions or Stack’s Bowers are best. For lower-grade circulated coins, eBay or local reputable coin dealers are good options. Just make sure you know the value from a guide or an app before you go so you can negotiate fairly.
Q: Why did the Mint punch a 7 over a 6?
A: In 1887, the U.S. Mint was looking for ways to reduce costs. Steel dies were expensive to engrave. By taking leftover dies from 1886 and simply re-punching the last digit, they could extend the life of the die and get more coins out of the machinery. It was an efficiency measure that created a modern treasure hunt.