In the intricate world of coin collecting and numismatic investment, understanding the valuation of specific pieces is fundamental. The quarter dollar minted in 1987 holds particular interest, not only because of its age but also due to its potential appreciation in value over time. For seasoned collectors and new aficionados alike, deciphering its worth today involves an interplay of historical mintage data, condition-based grading, and current market demand. This analysis aims to unravel these complexities by providing a comprehensive, expert-backed insight into what the 1987 quarter dollar is truly worth in today’s numismatic landscape.
Key Points
- The condition of the 1987 quarter significantly influences its current value, with uncirculated coins fetching premium prices.
- Understanding mint marks and production quantities offers insight into rarity and market appeal.
- Market demand for 1987 quarters has seen fluctuations, influencing their retail and auction prices.
- Authenticity verification and proper grading can dramatically impact valuation, especially in high-grade specimens.
- Economic trends and bullion market movements occasionally affect collector premiums, despite the coin's face value.
Historical Context and Mintage of the 1987 Quarter Dollar
The 1987 quarter dollar is part of the circulating Washington quarter series, which has been a staple of U.S. coinage since 1932. Notably, in 1987, the U.S. Mint produced over 1.15 billion quarters, making it a prolific year for circulation coins. The decision to produce quarters in such vast quantities was driven by continued demand for coinage amidst a booming economy with high circulation volumes and the transition to more lightweight coin materials, transitioning from silver to cupronickel clad compositions. Given its high mintage, the 1987 quarter is generally considered a common piece amongst circulated coins, with scarcity only emerging in high-grade, uncirculated specimens or special mint marks.
Mint Mark Significance and Rarity Factors
In 1987, quarter mintages primarily featured coins from Philadelphia (no mint mark) and Denver (D). The San Francisco (S) mint produced specimens mainly for proof sets, which are valuable to collector circles but not part of circulated coinage. Mint marks serve as vital identifiers in assessing rarity: coins from Denver, for example, had a mintage of roughly 222 million, whereas Philadelphia’s figures were just over 927 million. The ratio of production impacts collector value significantly, especially in high-grade categories. Furthermore, proof coins from the San Francisco mint, owing to their limited circulation, often command higher premiums—sometimes hundreds of dollars—particularly in pristine condition.
Condition and Grading Impact on Modern Valuation
For a piquant understanding of the 1987 quarter’s worth today, condition is paramount. The coin’s grade—ranging from Good (G) to Mint State (MS)—dictates its market value. Coins with no significant wear, sharp details, and lustrous surfaces are deemed high-grade specimens. According to the Numismatic Guaranty Corporation (NGC) and Professional Coin Grading Service (PCGS), a typical circulated 1987 quarter in Good condition might sell for just a dollar or two above face value, whereas uncirculated examples could fetch between 5 and 20, depending on eye appeal and certification status.
| Relevant Category | Substantive Data |
|---|---|
| Mintage Volume | Over 1.15 billion coins in 1987, dominating circulation and indicating commonality |
| Average Dealer Price (Circulated) | $1–$3 |
| Uncirculated Price Range | $5–$20+ based on grade and condition |
| Proof Version Price | $10–$150+ depending on certification and eye appeal |
Market Dynamics and Investment Considerations
The value trajectory of the 1987 quarter dollar over recent decades reveals an interesting pattern. While most circulated coins hold minimal premium over face, the collector market’s focus on high-grade specimens, especially those with appealing eye-pleasing qualities, has seen prices fluctuate notably. During the late 1990s and early 2000s, rare high-grade specimens achieved auction prices exceeding $50, driven by collector demand and market liquidity. Recently, economic fluctuations and inflationary pressures have slightly increased premiums for proven high-quality coins. Interestingly, some investors view such coins as a hedge within diversified portfolios, especially as collector demand extends beyond traditional silver and gold investments.
Key Factors Influencing Current Market Price
Major factors include:
- Condition and Certification: High-grade, professional-grades significantly elevate price.
- Rarity of Mint Mark: Proofs or coins from Denver have higher aftermarket premiums.
- Market Demand: Collectors’ enthusiasm during coin shows and online auctions can push prices upward.
- Economic Trends: Inflationary periods tend to push coin premiums beyond numismatic value.
Future Outlook and Market Trends for 1987 Quarter Dollars
Looking ahead, the 1987 quarter dollar’s market is poised for stability due to high mintage levels, but specific niches—such as pristine proof specimens or high-grade first strike examples—may experience modest appreciation, especially with increasing collector interest in late 20th-century coinage. The continued growth of online marketplaces and grading services democratizes access to rare high-grade coins while fostering competitive bidding environments. As the market matures, certifications from reputable bodies like PCGS and NGC will keep influencing price trends, consolidating their role as archetypes of authenticity and quality assurance.
Evolving Collector Preferences and Investment Strategies
Collectors increasingly value preservation quality and original surfaces, leading to higher premiums on coins that meet these criteria. Meanwhile, investments in circulated coins offer affordability but limited appreciation potential. The trend suggests that focusing on high-grade proof or mint set coins may yield better returns in the long term. Furthermore, the rising awareness around coin preservation techniques underscores the importance of proper handling, storage, and review of certification papers to ensure value retention.
How can I verify the authenticity of a 1987 quarter dollar?
+Authenticity verification involves examining certification from reputable grading services like PCGS or NGC, inspecting mint marks, and assessing surface quality. Coin experts also recommend comparing details with established reference images and, when in doubt, consulting with professional coin appraisers or submitting the coin for professional grading.
What condition should my 1987 quarter be in to fetch a premium price?
+Coins graded MS65 or higher (by PCGS or NGC) generally command a premium, especially if free of scratches, toning, or corrosion. Proof specimens graded PR65 or higher often fetch even more, particularly if they exhibit clear eye appeal, sharp strike, and full luster.
Is investing in circulated 1987 quarter dollars worthwhile?
+Circulated coins are affordable but typically offer limited appreciation potential. They are best suited for new collectors or those seeking to assemble sets rather than for investment growth. High-grade specimens, however, still retain value and can appreciate in line with grading trends and collector demand.
How does the mintage of 1987 quarters compare with other years?
+The 1987 mintage was notably high, with over a billion coins produced, making it less rare in circulated conditions. In comparison, earlier years like 1932 or 1934 had significantly lower mintages, thus carrying inherently higher scarcity and premium potential—except for high-grade specimens of 1987.
