What is an 1887 US silver eagle dollar worth?

Answer 1

[This is from FAQ Farmer Willbillmill:] Value of an 1887 silver eagle: There were 5 variations of this coin this year and the value varies according to which coin you have. good condition-from $10.00 to $22.00 mint condition- from $30.00 to $650.00 Proof- $1,500.00 These coins are NOT called silver eagles. That term was first used for the 1 oz bullion pieces introduced in the 1980s. Their designation is "Morgan dollar", after the designer George T. Morgan.

Answer 2

This question comes up fairly often and is a common misunderstanding. US $1 coins made up till 1935 aren't called "eagles" and they don't contain 1 oz of silver. They were ordinary circulation coins made for use in daily commerce. While they do contain silver, it's not as much - about 3/4 of a troy ounce.

"Silver eagles" are modern (1986 and later) coins sold by the Mint as investment pieces, not for spending; their value is linked to the current price of silver and the "$1" value is purely artificial.

The coin you have is frequently called a Morgan dollar after its designer. Its value when minted was in fact exactly $1 because silver was much cheaper and its price was controlled. Today it has value not only for its silver content but for its interest to collectors. There's more information at the Related Question.

Answer 3

This question comes up fairly often and is a common misunderstanding. US $1 coins made up till 1935 aren't called "eagles" and they don't contain 1 oz of silver. They were ordinary circulation coins made for use in daily commerce. While they do contain silver, it's not as much - about 3/4 of a troy ounce.

"Silver eagles" are modern (1986 and later) coins sold by the Mint as investment pieces, not for spending; their value is linked to the current price of silver and the "$1" value is purely artificial.

The coin you have is frequently called a Morgan dollar after its designer. Its value when minted was in fact exactly $1 because silver was much cheaper and its price was controlled. Today it has value not only for its silver content but for its interest to collectors. There's more information at the Related Question.

Answer 4

It's not a silver eagle. At the time it was a regular circulating $1 coin. Silver eagles are modern bullion coins sold to investors and collectors, and not intended for spending.

Answer 5

papaslove