1887 Morgan Dollar

The 1887 Morgan Dollar was struck at the Philadelphia Mint in 1887 and is part of the Morgan Dollar series.

Specifications

 * Designer: George T. Morgan
 * Obverse Design: Lady Liberty
 * Reverse Design: Eagle holding arrows and olive branch
 * Edge: Reeded
 * Weight: 26.73 grams
 * Diameter: 38.1 millimeters
 * Composition: Silver (90%), Copper (10%)
 * Mintage: Circulation Strikes: est. 19,940,000
 * Proof Mintage: est. 710

Background
With an incredible mintage of 19,940,000 Morgan Dollars in 1887, this Philadelphia Mint coin is common. The Morgan Dollar of 1887 would be available to a disinterested public in 1887 as a glut of silver coins were on the market.

Collecting
Most examples of this common date are weakly struck with poor luster. Take your time when choosing one. Striking varies from weak to average on most and careful selection is recommended. Take your time with this available date. Time is what's needed to find a lustrous example.

Prooflike coins do exist as do DMPL examples but most on one side of the coin only.

Historical Background in 1887
On January 28, 1887, construction of the foundations of the Eiffel Tower starts in Paris, France. The Eiffel Tower is a puddle iron lattice tower located on the Champ de Mars in Paris. Built in 1889, it has become both a global cultural icon of France and one of the most recognizable structures in the world. The tower is the tallest building in Paris and the most-visited paid monument in the world; millions of people ascend it every year. Named after its designer, engineer Gustave Eiffel, the tower was built as the entrance arch to the 1889 World's Fair.

On February 2, 1887, in Punxsutawney, Pennsylvania, the first Groundhog Day is observed. Groundhog Day is a day celebrated on February 2. According to folklore, if it is cloudy when a groundhog emerges from its burrow on this day, then spring will come early. If it is sunny, the groundhog will supposedly see its shadow and retreat back into its burrow, and the winter weather will continue for six more weeks.

On February 4, 1887, the Interstate Commerce Act of 1887, as passed by the 49th United States Congress, is signed into law by President Grover Cleveland. The Interstate Commerce Act of 1887 is a United States federal law that was designed to regulate the railroad industry, particularly its monopolistic practices. The Act required that railroad rates be "reasonable and just," but did not empower the government to fix specific rates. It also required that railroads publicize shipping rates and prohibited short haul/long haul fare discrimination, a form of price discrimination against smaller markets, particularly farmers. The Act created a federal regulatory agency, the Interstate Commerce Commission (ICC), which it charged with monitoring railroads to ensure that they complied with the new regulations.