1887/6-O Morgan Dollar Value Guide: Is Your Coin a Rarity?
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The 1887/6-O Morgan Dollar is worth anywhere from $65 in heavily circulated condition to over $15,000 for high-grade Mint State specimens. This fascinating “overdate” error occurs when an 1887 date was punched over a remaining 1886 die at the New Orleans mint, creating a sought-after treasure for collectors.
| Condition / Grade | Estimated Value (USD) |
|---|---|
| Good to Very Good (G4-VG8) | $65 – $85 |
| Fine to Very Fine (F12-VF30) | $90 – $150 |
| Extremely Fine (XF45) | $220 – $350 |
| About Uncirculated (AU55) | $550 – $1,100 |
| Mint State (MS63+) | $3,500 – $15,000+ |
Understanding the 1887/6-O Morgan Silver Dollar Variety
If you’ve recently inherited a collection or found an old silver dollar in a drawer, you might be holding a “top 100” VAM variety. The 1887/6-O Morgan Dollar is a classic example of numismatic recycling. In the late 19th century, creating coin dies was an expensive and labor-intensive process. Rather than wasting unused dies from 1886, the New Orleans mint workers simply punched the “7” over the “6.”
To identify this coin, you don’t need to be an expert, but using a top coin identifier and value app can certainly help bridge the gap. Look closely at the last digit of the date. In the 1887/6-O variety, you will see a faint but distinct loop of the “6” protruding from underneath the “7.” This is most visible at the lower left part of the digit.
The New Orleans mint, indicated by the “O” mint mark on the reverse above the letters “DO” in “DOLLAR,” is famous for producing coins with slightly “weak” strikes. Because the 1887/6-O is an error variety, it is significantly more valuable than the standard 1887-O. For those curious about the specifics of the 1887 Morgan dollar’s market performance, understanding that variety and condition are the two biggest price drivers is essential.
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Determining Value Based on Condition and Grade
When it comes to the 1887/6-O Morgan Dollar value, the coin’s condition is everything. Coins that have been passed around in pockets for decades show significant wear on Lady Liberty’s hair and the eagle’s breast feathers. While these circulated coins are still valuable because of the overdate, the real money is found in “Mint State” (MS) coins—those that never actually entered commerce.
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If you are unsure of your coin’s grade, you can use the CoinKnow app to get a preliminary assessment. Professional grading by services like PCGS or NGC is usually required to capture the highest prices at auction. A coin in AU (About Uncirculated) condition retains most of its original mint luster but shows slight rubbing on the high points.
For those tracking high-end investments, the current auction records for MS-grade 1887 dollars show a dramatic increase in price as you move from MS60 to MS65. An 1887/6-O in MS65 is a true “condition rarity,” as New Orleans strikes from this era were often scuffed in large canvas bags during transport.
Your Old Coin Could Be Valuable!
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| Technical Grade | Visual Description | Estimated Price |
|---|---|---|
| VG8 | Heavy wear, date is clear but hair lines are flat. | $75 |
| VF20 | Moderate wear, half of the hair lines visible. | $120 |
| AU50 | Trace wear on high points, some luster remains. | $450 |
| MS60 | No wear, but many “bag marks” or scratches. | $2,200 |
| MS64 | Strong luster, very few distracting marks. | $8,500 |
How to Spot the 1887/6-O Error vs. Standard Issues
To the naked eye, a standard 1887-O Morgan Dollar and the 1887/6-O might look identical. However, the price difference can be hundreds or even thousands of dollars. Collectors refer to this specific variety as VAM-3, and it is highly sought after by those completing a “VAM set.”
To verify the overdate, look at the bottom left side of the “7.” You should see a curved line that forms the lower curve of the “6.” Sometimes, parts of the top of the “6” also peek out from the top crossbar of the “7.” If you are having trouble seeing it, the CoinKnow app can help you zoom in on high-quality reference images to compare with your own coin.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Another key feature to check is the mint mark. The 1887/6 overdate also exists for the Philadelphia mint (no mint mark), but the New Orleans (“O”) version is generally more desirable in higher grades. Always ensure you are looking at the reverse of the coin for that small “O” above the “D” and “O” in “DOLLAR” to confirm it was minted in the Big Easy.
The Significance of New Orleans Mint Silver Dollars
The New Orleans Mint (known as the “Old Mint”) has a storied history, operating through the Civil War and beyond. In the late 1880s, the mint was pumping out millions of silver dollars due to government mandates like the Bland-Allison Act. Because volume was prioritized over quality, many coins from this era have “soft” strikes, making a sharp, well-defined 1887/6-O even more valuable.
The 1887/6-O variety tells a story of the practicalities of 19th-century minting. Using the CoinKnow app can help you learn more about the New Orleans mint’s unique characteristics. For example, New Orleans Morgans often have a “greasy” or hazy luster compared to the frosty white look of Philadelphia or Carson City coins.
Because so many Morgans were melted down during the silver booms of the 20th century, the surviving population of error coins like the 1887/6-O is relatively small. This scarcity, combined with the rising interest in error collecting, ensures that the 1887/6-O remains a blue-chip coin for any American silver dollar enthusiast.
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Protecting Your Investment and Selling Your Coin
If you discover you have an 1887/6-O, the first rule is: DO NOT CLEAN IT. Cleaning a rare coin can strip away its original surface and reduce its market value by 50% or more. Collectors prefer original “patina” or toning over a unnaturally shiny, polished look. Instead, place the coin in a PVC-free plastic flip or a specialized coin holder.
To get the best price, you should consider the current market trends. The value of silver fluctuates, but for a rarity like this, the numismatic (collector) value far exceeds the melt value of the silver. Keeping an eye on recent sales and using digital tools can give you the edge when negotiating with a dealer or listing on an auction site.
| Action | Why It Matters |
|---|---|
| Authentication | Confirms the overdate is real and not a counterfeit. |
| Certification | Grading by NGC/PCGS makes the coin much easier to sell. |
| Proper Storage | Prevents environmental damage and scratches. |
FAQ
Q: Is every 1887-O Morgan Dollar an 1887/6 overdate?
A: No. Most 1887-O Morgan Dollars are regular strikes. The 1887/6-O is a specific variety where the date was punched twice. Regular 1887-O coins are much more common and generally worth less ($35–$60 in average condition).
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Q: Where is the mint mark on an 1887/6-O Morgan Dollar?
A: The “O” mint mark is located on the reverse side (the back) of the coin. Look at the bottom, just above the “DO” in the word “DOLLAR.” If there is no letter there, the coin was minted in Philadelphia.
Q: How much silver is in an 1887/6-O Morgan Dollar?
A: Like all Morgan Dollars, it contains 0.7734 troy ounces of pure silver. It is made of 90% silver and 10% copper.
Q: Is the 1887/6-O rarer than the 1887/6 Philadelphia version?
A: While both are rare, the New Orleans version is often harder to find in high “uncirculated” grades. In low grades, the Philadelphia version is slightly more common, but both are considered “Top 100” VAM varieties.
