Nickels may not seem like much at first glance, but did you know that some of them can be worth way more than their face value? If you have a 1987 nickel lying around, you might be sitting on a hidden gem. Let’s dive into what makes a 1987 nickel valuable, how to spot rare ones, and whether it’s time to cash in your collection!
Understanding the 1987 Nickel
Before we talk about its value, let’s understand what makes up a 1987 nickel.
Design and Features
- Obverse (Front): Features the famous left-facing portrait of Thomas Jefferson, designed by Felix Schlag.
- Reverse (Back): Displays Monticello, Jefferson’s historic home in Virginia.
- Mint Mark: Found on the obverse to the right of Jefferson’s bust.
- Composition: 75% copper and 25% nickel.
- Weight: 5.0 grams.
- Diameter: 21.2 mm.
1987 Nickel Varieties and Mint Marks
The 1987 nickel was minted in three locations:
1. 1987-P Nickel (Philadelphia Mint)
- Marked with a “P.”
- Over 532 million minted.
2. 1987-D Nickel (Denver Mint)
- Marked with a “D.”
- Over 490 million minted.
3. 1987-S Proof Nickel (San Francisco Mint)
- Marked with an “S.”
- Specially made for collectors, with a sharper strike and mirror-like finish.
- Over 4 million minted.
How Much is a 1987 Nickel Worth?
Now, let’s talk numbers!
Face Value
Most 1987 nickels are still worth just 5 cents in circulated condition. However, higher grades or rare errors can fetch more money.
Value by Condition
| Condition | 1987-P | 1987-D | 1987-S Proof |
|---|---|---|---|
| Circulated | $0.05 | $0.05 | N/A |
| Uncirculated (MS65) | $1 – $5 | $1 – $5 | $4 – $10 |
| Proof (PR69-70) | N/A | N/A | $5 – $20 |
Key Factors Affecting Value
- Condition: The better the condition, the more valuable.
- Mint Mark: “S” proof nickels tend to be more valuable.
- Errors & Varieties: Some errors can make your nickel much more desirable to collectors.
Rare Errors That Boost Value
1. Off-Center Strike
- Occurs when the coin is misaligned during minting.
- Value: $20 – $150 depending on how off-center it is.
2. Double Die Errors
- Look for doubled letters or numbers on the coin.
- Value: $50 – $200.
3. Missing Mint Mark
- If a nickel is missing its “P,” “D,” or “S” mint mark, it could be rare.
- Value: $20 – $100.
4. Clipped Planchet
- A part of the coin is cut off due to a mistake during production.
- Value: $10 – $75.
How to Identify a Valuable 1987 Nickel
Step 1: Check the Mint Mark
- “S” nickels are usually proof coins and have better value.
Step 2: Examine the Condition
- Look for scratches, discoloration, and overall wear.
- Uncirculated coins are shinier and have sharp details.
Step 3: Look for Errors
- Use a magnifying glass to check for doubling, off-center strikes, or missing details.
Step 4: Compare with Market Prices
- Use online resources like PCGS, NGC, and eBay sold listings to see what similar coins are selling for.
Where to Sell a 1987 Nickel
Got a valuable 1987 nickel? Here’s where you can sell it:
1. Online Marketplaces
- eBay: Great for finding buyers worldwide.
- Etsy: Some people buy coins for crafts and jewelry.
- Heritage Auctions: If your nickel is truly rare, auction houses are a great option.
2. Local Coin Shops
- Many coin dealers will offer cash on the spot.
3. Coin Shows & Collectors Clubs
- You might find collectors willing to pay more for your unique nickel.
Tips for Collecting 1987 Nickels
- Store properly: Use coin holders or airtight cases to prevent damage.
- Handle with care: Hold by the edges to avoid fingerprints.
- Stay informed: Follow numismatic news to track market trends.
- Get professional grading: If you suspect your nickel is valuable, send it to PCGS or NGC for authentication.
Conclusion
While most 1987 nickels are still worth only 5 cents, rare errors and high-grade specimens can be valuable. Checking your coins for mint marks, errors, and overall condition is key to discovering hidden treasures. Whether you’re a casual collector or a serious numismatist, keeping an eye out for special nickels could pay off big time!
FAQs
1. Is a 1987 nickel rare?
No, the 1987 nickel is not rare in general. However, rare errors or high-grade versions can be valuable.
2. What is the most expensive 1987 nickel ever sold?
Some proof or error nickels have sold for over $500 in high grades.
3. Where can I get my 1987 nickel appraised?
You can visit coin dealers, numismatic shows, or grading companies like PCGS and NGC for an expert appraisal.
4. How can I tell if my nickel is uncirculated?
An uncirculated nickel will have no wear, sharp details, and a shiny surface.
5. Are there silver 1987 nickels?
No, nickels from 1987 are made of a copper-nickel blend, not silver.
If you have a 1987 nickel, take a closer look—you never know, it might just be worth more than a nickel!