1887 $1 MS DMPL

Key to Collecting: The 1887 is as common as can be. Today, examples remain plentiful, but as most are weakly struck in one area or another, or have poor luster, or are a#icted with both negatives, being fussy is the order of the day when buying one. Proofs are rarities in proportion to their mintage.

Surface Quality: Striking varies from flat at the centers, as usual, to fairly decent. Cherry picking is advised. The 1887 is a plentiful date, so many opportunities will exist. The luster is typically dull and somewhat “greasy,” at a low level of quality. Cherrypicking is needed to find a deeply lustrous example. Apparently, this largemintage issue was produced in haste.

Prooflike Coins: Many prooflike coins exist, as do many DMPLs, but relatively few have cameo contrast.

Mintage and Distribution: Delivery figures by month: January, 2,020,000; February, 1,950,000; March, 2,020,000; April, 2,000,000; May, 1,900,000; June, 1,500,000; July, 0; August, 1,500,000; September, 1,700,000; October, 2,000,000; November, 2,000,000; December, 1,700,000. Bags from this huge mintage were paid out over a long period of time, with especially large quantities appearing from the 1950’s onward. Today, this is the most common of all early Morgan dollar dates, the bane of many coin shop owners presented with “an old and valuable silver dollar that has been in the family for years.”

Mintage: 710. Delivery figures by month: January–February, 0; March, 380; April–May, 0; June, 90; July–August, 0; September, 40; October–November, 0; December, 200.

Key to Collecting: Usually a decent strike. Medium to low contrast. Diminished mintage quantities of this and other dates of this era add to the challenge of finding high-quality pieces. Incidentally, the majority of the Proof-66, Proof-67, and Proof68 or finer pieces represent coins certified in recent years. Earlier, many would have been called Proof-65. Skeptical? Just dig out some old population reports for, say, 1990, and see how many Proofs of any date are listed in such high grades.

Although at least 55 obverse and 54 reverse dies were made for intended use for this coinage (including one overdated die, 1887, 7 Over 6, described next), none besides the overdate are of particular interest except to the super-dedicated VAM enthusiast. Over 1.1 million coin & currency values updated hourly.