Introduction
For coin enthusiasts and casual collectors alike, the allure of discovering a valuable coin in everyday change is undeniable. The 1987 quarter, a seemingly ordinary piece of currency, holds secrets that many overlook. This comprehensive guide will delve into the intricacies of the 1987 quarter, exploring its history, value, and potential as a collector's item.
Historical Context of the 1987 Quarter
The Washington Quarter Series
The 1987 quarter is part of the long-running Washington quarter series, which began in 1932 to commemorate the 200th anniversary of George Washington's birth. Some key points about this series include:
- Designed by sculptor John Flanagan
- Replaced the Standing Liberty quarter design
- Originally contained 90% silver until 1964
- Transitioned to copper-nickel clad composition in 1965
1987 in American History
To put the 1987 quarter in context:
- President: Ronald Reagan
- Major Events:
- Black Monday stock market crash
- "Tear down this wall" speech in Berlin
- The Simpsons debuts as a short on The Tracey Ullman Show
Physical Characteristics of the 1987 Quarter
Understanding the coin's features is crucial for identification and valuation:
Obverse (Front) Design:
- Portrait of George Washington facing left
- Inscription "LIBERTY" above
- Date "1987" below
- "IN GOD WE TRUST" to the left
- Mint mark (if present) to the right of Washington's neck
Reverse (Back) Design:
- Bald eagle with spread wings
- Arrows in talons, olive branch below
- "UNITED STATES OF AMERICA" along top edge
- "QUARTER DOLLAR" at bottom
- "E PLURIBUS UNUM" above eagle
Technical Specifications:
- Diameter: 24.3 mm
- Weight: 5.67 grams
- Composition: 91.67% copper, 8.33% nickel (clad layers over pure copper core)
- Edge: Reeded
Mint Marks and Production Statistics
Three U.S. Mints produced quarters in 1987:
-
Philadelphia (P):
- No mint mark
- Mintage: 705,296,000
-
Denver (D):
- "D" mint mark
- Mintage: 663,891,242
-
San Francisco (S):
- "S" mint mark
- Mintage: 4,227,728 (proof coins only)
Valuation Guide for 1987 Quarters
The value of a 1987 quarter can vary significantly based on several factors:
1987-P Quarter (Philadelphia)
| Condition | Estimated Value |
|---|---|
| Circulated | $0.25 (face value) |
| MS60 | $1 – $2 |
| MS65 | $15 – $20 |
| MS67 | $300 – $350 |
1987-D Quarter (Denver)
| Condition | Estimated Value |
|---|---|
| Circulated | $0.25 (face value) |
| MS60 | $1 – $2 |
| MS65 | $6 – $8 |
| MS67 | $325 – $375 |
| MS67+ | $850 – $950 |
1987-S Quarter (San Francisco – Proof)
| Condition | Estimated Value |
|---|---|
| PR61-PR66 | $5 – $10 |
| PR67-PR68 | $10 – $15 |
| PR69 | $20 – $25 |
| PR70 | $30 – $40 |
Note: Values are estimates and can fluctuate based on market conditions.
Factors Influencing 1987 Quarter Value
Several key factors determine a coin's worth:
- Mint Mark: Rarity can vary by mint location
- Condition: Better-preserved coins command higher prices
- Rarity: Some varieties or errors are scarcer
- Demand: Collector interest influences market value
Grading 1987 Quarters
Proper grading is essential for accurate valuation. The Sheldon Scale, ranging from 1 to 70, is commonly used:
- Good (G-4): Heavy wear, major details visible
- Very Good (VG-8): Moderate wear, all major features clear
- Fine (F-12): Light wear on high points, all lettering visible
- Very Fine (VF-20): Light wear, some mint luster may remain
- Extremely Fine (EF-40): Slight wear on highest points, strong details
- About Uncirculated (AU-50 to AU-58): Trace of wear, most luster intact
- Mint State (MS-60 to MS-70): No wear, ranging from many marks (MS-60) to perfect (MS-70)
Rare 1987 Quarter Errors and Varieties
While most 1987 quarters are common, certain errors can significantly increase value:
-
Broadstruck Error: Coin struck without collar, appearing larger
- Example: 1987-P MS63 sold for $20
-
Off-Center Strike: Design not centered on planchet
- Example: 1987-D MS65, 25% off-center, sold for $45
-
Doubled Die: Doubling in lettering or design elements
- Can range from $50 to several hundred dollars depending on prominence
-
Repunched Mint Mark: Visible signs of mint mark being stamped multiple times
- Can add $10-$50 to value, more if dramatic
-
Die Cracks or Cuds: Raised lines or bumps from damaged dies
- Minor die cracks may add $5-$10, major cuds can be worth $50+
Collecting and Preserving 1987 Quarters
For those interested in building a collection:
Tips for Finding Valuable 1987 Quarters:
- Check change and bank rolls regularly
- Attend coin shows and auctions
- Join online coin collecting communities
- Consider purchasing from reputable dealers
Preservation Methods:
- Handle coins by edges to avoid fingerprints
- Store in non-PVC, archival-quality holders
- Maintain consistent temperature and humidity
- Avoid cleaning coins, as it can reduce value
The Future of 1987 Quarter Values
While most 1987 quarters will likely remain near face value, certain factors could impact future prices:
- Increasing scarcity as coins are lost or damaged
- Growing interest in coin collecting as a hobby
- Potential changes in U.S. coinage composition
Conclusion: Assessing Your 1987 Quarters
While the majority of 1987 quarters are worth face value, the potential for valuable specimens exists. Key takeaways:
- Examine coins carefully for mint marks and errors
- Understand grading criteria and how it affects value
- Consider professional grading for potentially valuable coins
- Stay informed about market trends and values
Remember, coin collecting is as much about the thrill of the hunt and appreciation of history as it is about monetary value. Every 1987 quarter tells a story of American craftsmanship and economic history, making it a fascinating subject for collectors of all levels.
Additional Resources
For further research and up-to-date information:
- Professional Coin Grading Service (PCGS): www.pcgs.com
- Numismatic Guaranty Corporation (NGC): www.ngccoin.com
- American Numismatic Association: www.money.org
- Red Book (A Guide Book of United States Coins): Available at most bookstores
By understanding the nuances of 1987 quarters, you'll be better equipped to identify potential treasures in your change and build a rewarding coin collection. Happy hunting!
