The 1887 Liberty Head gold five dollar coin is a US commemorative coin minted to celebrate the 100th anniversary of the signing of the Constitution of the United States. The coin's production was authorized by an Act of Congress, and a total of 25,000 pieces were struck in proof condition and sold at $10 each, while 5,000 were minted for circulation.
Today, the value of an 1887 gold five dollar coin can vary depending on its condition, rarity, and market factors. Here are some factors that influence the value of this coin:
1. Gold Content: As a gold coin, the intrinsic value of the 1887 Liberty Head five dollar piece comes from its gold content. It contains 8.359 grams (0.2707 troy ounces) of 90% fine gold, which gives it a gold bullion value of approximately $550 (as of March 2023).
2. Condition: The condition of a coin is a critical factor in determining its numismatic value. The 1887 gold five dollar coin was struck in proof condition, which means that the dies were specially prepared to produce coins with sharper details and a more mirror-like finish. Proof coins are generally more valuable than their circulated counterparts.
3. Rarity: Although 30,000 pieces were minted in total, the 1887 gold five dollar coin is considered a relatively rare coin due to its low mintage compared to other US gold coins. The actual population of surviving coins may be even lower due to melting, wear, and loss over time.
4. Numismatic Value: The numismatic value of the 1887 gold five dollar coin is influenced by its historical significance, demand from collectors, and market trends. Numismatic values can fluctuate and are subject to various factors, including market sentiment, economic conditions, and the availability of coins.
Given all these factors, the value of an 1887 gold five dollar coin can range from its gold bullion value of around $550 to several thousand dollars depending on its condition and numismatic value. It's important to consult with reputable coin dealers or consult reliable numismatic references to obtain an accurate appraisal of the coin's worth.