1887-O $1 MS PL

Key to Collecting: Although the 1887-O is hardly in the common-date category, enough exist that a nice MS-63 coin can be found with little effort. However, among these only a fraction have a combination of sharp strike and attractive luster—yielding a great opportunity for cherrypicking. When you find one, the cost will not be any more than others are paying for pieces with poor eye appeal. Check any and all examples for the overdate feature (see following listing).

Surface Quality: The striking of the 1887-O is usually average or below average, sometimes quite poor. Sharp pieces do exist but searching is needed to find them. At the New Orleans Mint during this era many dies were spaced too far apart, perhaps facilitating the coining process, but resulting in pieces that hardly deserve numismatic prizes. The luster on the 1887-O ranges from grainy and dull to frosty, but is usually subpar. You, as an informed buyer, can find a nice one—with some effort.

Prooflike Coins: Prooflike dies were used extensively, and pieces with a degree of prooflike surface, sometimes deep and accentuated with cameo devices, are elusive, but not great rarities. However, most are lightly struck at the center.

Mintage and Distribution: Delivery figures by month: January, 900,000; February, 1,000,000; March, 1,000,000; April, 1,000,000; May, 1,000,000; June, 1,000,000; July, 600,000; August, 1,050,000; September, 1,000,000; October, 1,000,000; November, 1,000,000; December, 1,000,000. A small part of these were 1887-O, 7 Over 6, varieties, probably from a single die pair in a single press run. The 1887-O was suffciently well distributed in the nineteenth century that worn coins are plentiful today, although some were probably destroyed during the rise in silver bullion prices that peaked in January 1980. Bags were released over a long period of years, including 1938, 1953, and 1957, per interviews I have conducted, and likely on other occasions as well. Examples from Treasury releases of 1962 through 1964 constitute the majority of pieces available in Mint State today. Bags were released as late as March 1964.

Most die varieties as described by Van Allen and Mallis consist of date repunchings of a minor nature. However, VAM-2 has the date numerals tripled, quite interesting, described by them as “one of the largest shifts of date doubling known.” The two earlier dates are not prominent, but under a magnifying glass they can be seen easily enough. VAM-22, listed in The Top 100 Morgan Dollar Varieties, has slight doubling on the obverse, and die rust is seen below the eagle’s tail.