The 1887/6-O Morgan Dollar is worth anywhere from $40 in heavily circulated condition to over $10,000 for high-grade uncirculated specimens. This fascinating “overdate” variety is a favorite among collectors because it tells a unique story of 19th-century minting errors and resourcefulness at the New Orleans Mint.
What Makes the 1887/6-O Morgan Dollar Special
If you have found an old silver dollar in a drawer or a family collection, you might be holding a piece of numismatic history. To identify this specific coin, you need to look closely at the date. In 1887, the New Orleans Mint used dies that were originally intended for the 1886 production year. Instead of discarding these expensive steel dies, mint workers simply punched a “7” over the “6.” If you look under a magnifying glass, you can often see the bottom loop of the 6 peeking out from under the tail of the 7.
Identifying these subtle marks can be difficult for the untrained eye, which is why many beginners use a top coin identifier app to confirm their find. The New Orleans “O” mint mark is located on the reverse side, just above the “D” and “O” in the word “DOLLAR.” Because this is a recognized variety within the popular Morgan series, it carries a significant premium over standard 1887 silver dollars. If you are unsure if your coin is a regular strike or an overdate, the CoinHix app can help you zoom in on the necessary details for a proper identification.
Understanding the 1887/6-O Morgan Dollar Value Tiers
The value of your 1887/6-O Morgan Silver Dollar depends almost entirely on its physical condition, also known as its “grade.” Most coins found in everyday settings are “circulated,” meaning they were used in commerce and show wear on Lady Liberty’s hair and the eagle’s breast feathers. Even in worn condition, these coins are made of 90% silver, giving them an inherent “melt value,” but their collector value is what truly drives the price up.
For those looking for a specific 1887 silver dollar value guide, it is important to distinguish between the New Orleans (O) and the Philadelphia or San Francisco mints. The 1887/6-O is particularly rare in Mint State (MS) condition. While thousands were circulated, very few were preserved in pristine, bag-fresh condition. A high-grade specimen with a sharp strike and original luster can easily fetch several thousand dollars at a specialized auction.
Price Comparison for 1887/6-O Morgan Silver Dollars
To give you a better idea of what your coin might be worth on today’s market, we have compiled a price table based on organized grading standards. Please note that these prices are estimates based on recent auction data and may fluctuate based on silver spot prices and collector demand.
| Condition / Grade | Estimated Market Value |
|---|---|
| Good (G4) to Very Good (VG8) | $40 – $55 |
| Fine (F12) to Very Fine (VF20) | $60 – $85 |
| Extremely Fine (XF40) | $110 – $150 |
| About Uncirculated (AU50) | $250 – $450 |
| Mint State (MS60-MS62) | $750 – $1,800 |
| Choice Mint State (MS63+) | $3,000 – $12,000+ |
How to Grade Your 1887/6-O Silver Dollar at Home
Grading is a subjective art, but there are key areas you can examine to estimate where your coin falls on the scale. For a Morgan Dollar, the highest points of the design wear down first. Check Lady Liberty’s cheek and the hair lines above her ear. On the reverse side, look at the tops of the eagle’s wings and its breast feathers. If these areas are flat and smooth, the coin is in circulated condition.
If the coin still has a “cartwheel” luster—a shimmering light effect that rotates when you tilt the coin—it may be in uncirculated condition. Because the price jump between an AU58 and an MS63 is thousands of dollars, professional authentication is highly recommended. You can check the latest 1887/6-O Morgan Dollar price data to see how much of a premium these high-grade coins currently command. Using tools like CoinHix can also help you compare your coin against high-resolution images of certified grades.
Common Varieties and Errors to Watch For
While the 1887/6-O is the most famous variety for this year and mint, it isn’t the only thing collectors look for. The New Orleans Mint was notorious for producing “weak strikes,” meaning the details of the coin might look worn even if the coin never actually circulated. This is due to the dies being set too far apart during the striking process. Collectors often pay a premium for “well-struck” 1887/6-O coins where the eagle’s feathers are crisp and clear.
Another factor to consider is the “VAM” designation. VAM numbers refer to specific die varieties identified by researchers Leroy Van Allen and A. George Mallis. The 1887/6-O is classified as VAM-3. Finding a VAM-3 in a high grade is quite rare, as many were melted down under the Pittman Act of 1918 or simply lost to heavy circulation in the American South. If you think you’ve found a rare VAM, the CoinHix app is an excellent resource for cross-referencing die cracks and overdate characteristics.
FAQ about 1887/6-O Morgan Dollars
Q: How can I tell if my 1887 dollar is the 1887/6-O variety?
A: Look at the last digit of the date under magnification. You should see a small curved line inside the lower part of the 7; this is the remnants of the number 6. Additionally, ensure there is an “O” mint mark on the back of the coin.
Q: Is a cleaned 1887/6-O Morgan Dollar still valuable?
A: Yes, it still has value, but cleaning a coin significantly reduces its collector appeal. Collectors prefer “original skin,” which is the natural patina or toning a coin develops over time. A cleaned coin will usually sell for much less than an uncleaned one of the same grade.
Q: Where is the best place to sell an 1887/6-O Morgan Silver Dollar?
A: For low-grade circulated coins, a local coin shop or reputable online marketplace is sufficient. However, if your coin appears to be in Uncirculated (MS) condition, it is best to have it graded by a service like PCGS or NGC and sold through a major numismatic auction house.
Q: Why is the New Orleans Mint mark (O) so important for this year?
A: While Philadelphia also produced 1887/6 overdates, the New Orleans version is generally more sought after by variety collectors due to the specific minting history of the “O” mint and the lower survival rate of high-quality New Orleans silver dollars.
