1887 O Morgan Dollar Error Coins from the United States are widely collected by numismatist' around the world. This coin became even more popular with the arrival of the Internet and on line auction sites like EBay.
Collectors now find themselves in a heads up battle with investors for all silver coins. Some silver coins carry a higher value for melt price now. Junk Silver coin spot prices have overcome the numismatic price. This is going to lead to melting and eventually effect the market price for the remaining examples. If your holding onto Morgan silver dollars you are indeed a savvy investor.
Taking the coin to the next level would be to seek out the incredibly illusive error coins that exist for this year within the series. Several different sub varieties exist and all are highly sought out by a completely different collector base of people who look for only mistakes.
Some will spend a lifetime collecting every error coin that's known within the United States mintage history and others will decide on a certain series. The hardcore error collector will collect any mistake.
Error coins within the Morgan dollar series are all well known and well documented. There are extensive writings available to the novice and extremely detailed reference books for the advanced error coin collector. as with any endeavor, knowledge is the most important tool when trying to assemble a collection of this type.
1887-0 Morgan Dollar Known error Coin Varieties
During the year 1887, the United States mint decided that one of the obverse dies from the year 1886, down at the New Orleans mint, was good enough to be re cut with the year 1887 and they did just that. The problem was the six still showed under the last numeral and the 1887 O Morgan Dollar Error Coins were immediately born. If you check closely with a magnifying glass, you'll see the round bottom of the earlier six.
This coin carries a premium of about double the price of a normal example. How many exist, is any body's guess but the price premium would seem to suggest this type of error, for this year, is quite rare.
Another well known variety shows the obverse doubled at the date to the west. The seven in the date is actually tripled. This coin also carries a premium with collectors but not quite as strong as the over date.
Both of these coins are good candidates for cherry picking, as not many people know of their existence. keep your eyes open and carry that little magnifying glass wherever you go. You never know when a valuable coin will pop up at a good price.
Certain error coins must possess enough remaining of the original design to ascertain the mistake. If the coin is worn beyond knowing if this error exists on the example then the coin has no added value. To get more information about Morgan Silver Coins I would suggest reading books such as 'A Guide Book of Morgan Silver Dollars'.
Also, use caution when investing in anything. 1887 O Morgan Dollar Error Coins, as with any investment, carry a certain risk. Many counterfeits exist so please be careful.