Wondering about the value of your 1987 $5 gold coin? The 1987 $5 gold coin is a valuable and sought-after coin by collectors and investors alike. Its value is determined by several factors, including its rarity, condition, and the current market value of gold.
Editor’s Notes: Understanding the “1987 $5 gold coin value” is important because it benefits collectors and investors in making informed decisions when buying or selling 1987 $5 gold coins.
After analyzing the market, digging into historical data, and gathering expert opinions, we put together this comprehensive guide to help you determine the “1987 $5 gold coin value”.
Key Differences:
| 1987 $5 gold coin | Other $5 gold coins | |
|---|---|---|
| Composition | 90% gold, 10% copper | Varies, but typically 90% gold or more |
| Weight | 8.359 grams | Varies, but typically around 8 grams |
| Diameter | 21.59 mm | Varies, but typically around 21.5 mm |
| Mintage | 24,305,000 | Varies |
The 1987 $5 gold coin was first released in 1987 by the United States Mint. It was designed by James Earle Fraser and features a depiction of Lady Liberty on the obverse and an eagle in flight on the reverse. The coin was struck in both proof and uncirculated condition, with the proof coins being more valuable than the uncirculated coins.
The value of the 1987 $5 gold coin has fluctuated over the years, but it has generally trended upward. The current value of the coin depends on its condition and the current market value of gold.
If you’re interested in buying or selling a 1987 $5 gold coin, it’s important to have it appraised by a qualified professional. This will help you determine the coin’s exact value and ensure that you’re getting a fair price.
1987 $5 Gold Coin Value
Understanding the value of a 1987 $5 gold coin involves considering several key aspects:
- Composition: 90% gold, 10% copper
- Weight: 8.359 grams
- Diameter: 21.59 mm
- Mintage: 24,305,000
- Condition: Proof or uncirculated
- Market value of gold: Fluctuates over time
- Appraisal: By a qualified professional
These aspects collectively determine the value of a 1987 $5 gold coin. For instance, proof coins are more valuable than uncirculated coins, and a coin’s condition can significantly impact its worth. Additionally, the market value of gold plays a crucial role, as it directly affects the coin’s value. To ensure an accurate assessment, it’s recommended to have the coin appraised by a qualified professional, providing insights into its specific characteristics and current market conditions.
Composition
The composition of the 1987 $5 gold coin, consisting of 90% gold and 10% copper, significantly contributes to its value. This unique blend of metals imparts specific characteristics and properties to the coin that influence its worth.
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Durability and Longevity:
The high gold content (90%) enhances the coin’s durability and resistance to wear and tear. Gold is a robust metal that can withstand the effects of oxidation, corrosion, and general handling, ensuring the coin’s longevity and preservation of its value over time.
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Color and Appearance:
The presence of copper (10%) imparts a distinctive reddish hue to the coin, giving it a warm and visually appealing appearance. This unique color differentiates it from other gold coins and contributes to its aesthetic value among collectors and enthusiasts.
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Hardness and Strength:
The combination of gold and copper results in a coin that is both hard and strong. This composition provides resistance to scratches, dents, and other forms of physical damage, maintaining the coin’s integrity and preserving its value.
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Historical Significance:
The specific composition of 90% gold and 10% copper has historical significance, as it was commonly used in the production of gold coins during the late 19th and early 20th centuries. This composition aligns the 1987 $5 gold coin with a rich legacy of numismatic heritage.
In summary, the composition of the 1987 $5 gold coin, comprising 90% gold and 10% copper, contributes to its durability, distinctive appearance, strength, and historical significance, all of which positively impact its value and desirability among collectors and investors.
Weight
The weight of the 1987 $5 gold coin, precisely 8.359 grams, plays a crucial role in determining its value. This specific weight corresponds to the coin’s composition, purity, and adherence to established standards, contributing to its overall worth and desirability.
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Legal Tender Status:
The weight of 8.359 grams aligns with the legal tender specifications set by the United States Mint for the $5 gold coin denomination. This adherence to official standards ensures the coin’s validity as legal currency, enhancing its value and appeal to collectors and investors.
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Gold Content Verification:
The precise weight of 8.359 grams serves as a reliable indicator of the coin’s gold content. By adhering to this standard, the coin’s purity and authenticity are verifiable, guaranteeing its intrinsic value as a gold asset.
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Historical Significance:
The weight of 8.359 grams aligns with the historical precedent of $5 gold coins issued by the United States Mint. This consistency maintains the coin’s connection to its predecessors, enhancing its numismatic value among collectors who appreciate historical continuity.
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Rarity and Collectibility:
The specific weight of 8.359 grams contributes to the coin’s rarity and collectibility. Variations in weight, even minor deviations, can affect the coin’s value, making those that precisely meet the standard more desirable and valuable to collectors.
In summary, the weight of 8.359 grams for the 1987 $5 gold coin is not merely a technical detail but a significant factor that influences its value. It ensures legal tender status, verifies gold content, connects the coin to historical precedents, and enhances its rarity and collectibility, making it a valuable and sought-after numismatic item.
Diameter
The diameter of the 1987 $5 gold coin, precisely measuring 21.59 millimeters, is an important factor that contributes to its overall value. This specific diameter adheres to established standards and plays a significant role in the coin’s functionality, aesthetics, and historical significance.
Practical Functionality:
The diameter of 21.59 mm ensures compatibility with standard coin mechanisms, such as vending machines and coin-operated devices. This practical functionality enhances the coin’s usability and value as a medium of exchange, particularly during its time of circulation.
Aesthetic Appeal:
The 21.59 mm diameter contributes to the coin’s well-balanced and visually pleasing appearance. It allows for the intricate details of the coin’s design, including Lady Liberty on the obverse and the eagle in flight on the reverse, to be showcased effectively. A harmonious diameter enhances the coin’s aesthetic appeal, making it more desirable to collectors and enthusiasts.
Historical Consistency:
The diameter of 21.59 mm aligns with the historical dimensions of $5 gold coins issued by the United States Mint. This consistency maintains the coin’s connection to its predecessors, preserving its numismatic value and significance among collectors who appreciate historical continuity and adherence to traditional standards.
Rarity and Collectibility:
Coins with precise diameters are more desirable to collectors, as variations in size can affect their rarity and value. The 21.59 mm diameter ensures that the coin conforms to the established specifications, making it a more sought-after item for collectors who value accuracy and adherence to standards.
In summary, the diameter of 21.59 mm for the 1987 $5 gold coin is not merely a technical specification but a crucial factor that contributes to its value. It ensures practical functionality, enhances aesthetic appeal, maintains historical consistency, and influences rarity and collectibility, making the coin a valuable and desirable numismatic item.
| Diameter | Significance |
|---|---|
| 21.59 mm | Practical functionality, aesthetic appeal, historical consistency, rarity, and collectibility |
Mintage
The mintage of a coin significantly influences its value, and the 1987 $5 gold coin is no exception. Its mintage of 24,305,000 plays a crucial role in determining its rarity, desirability, and overall worth.
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Rarity and Value:
Generally, coins with lower mintages are considered rarer and more valuable. The 1987 $5 gold coin’s mintage of 24,305,000 places it in the category of relatively common coins, making it more compared to coins with significantly lower mintages.
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Supply and Demand:
The mintage number influences the supply of the coin in the market. With a higher mintage, such as 24,305,000, the supply of the 1987 $5 gold coin is relatively abundant. This affects the coin’s value, as higher supply can lead to lower prices due to less scarcity.
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Collector Interest:
Mintage figures can influence the interest of collectors. Some collectors prefer rare coins with low mintages, while others may be drawn to coins with higher mintages that offer greater accessibility and affordability. The 1987 $5 gold coin’s mintage of 24,305,000 appeals to a broader range of collectors, including those seeking more commonly available coins.
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Historical Context:
The mintage of the 1987 $5 gold coin provides insights into the economic and monetary climate of its time. A higher mintage, such as 24,305,000, may indicate a period of increased gold production or a strategic decision by the government to mint more coins to meet demand.
In summary, the mintage of 24,305,000 for the 1987 $5 gold coin contributes to its value by influencing its rarity, supply and demand dynamics, collector interest, and historical context. Understanding the significance of mintage helps collectors and investors make informed decisions regarding the acquisition and valuation of this coin.
Condition
The condition of a coin, whether proof or uncirculated, plays a significant role in determining its value, and the 1987 $5 gold coin is no exception. Understanding the difference between proof and uncirculated coins is crucial for collectors and investors.
Proof coins are specially struck to showcase the intricate details of the design. They are produced using polished dies and multiple strikes, resulting in a mirror-like finish on both sides of the coin. Uncirculated coins, on the other hand, are intended for circulation and are struck once with less polished dies. As a result, they may exhibit slight imperfections or wear from handling.
Generally, proof coins are more valuable than uncirculated coins due to their superior quality and limited mintage. Proof coins are often sold at a premium to collectors who value their pristine condition and aesthetic appeal. Uncirculated coins, while still valuable, are more commonly available and may be more affordable for those seeking a circulated example of the 1987 $5 gold coin.
Practical Significance
Understanding the difference between proof and uncirculated coins is essential for collectors and investors. Proof coins are ideal for those seeking high-quality, visually stunning coins for their collection. Uncirculated coins, on the other hand, offer a more affordable option for those who prioritize historical significance or the coin’s value as a collectible.
When determining the value of a 1987 $5 gold coin, it is crucial to assess its condition accurately. Factors such as surface marks, scratches, or wear can significantly impact the coin’s value. A professional coin grader can provide an impartial assessment of the coin’s condition and assign a grade that reflects its quality.
| Condition | Characteristics | Value |
|---|---|---|
| Proof | Mirror-like finish, sharp details, limited mintage | Higher value, sought after by collectors |
| Uncirculated | No visible wear, intended for circulation | Lower value than proof coins, more affordable |
In conclusion, the condition of a 1987 $5 gold coin, whether proof or uncirculated, is a critical factor in determining its value. Proof coins command a premium due to their exceptional quality, while uncirculated coins offer a more accessible option for collectors. Understanding the nuances of coin condition empowers collectors and investors to make informed decisions and acquire coins that align with their collecting goals and financial means.
Market value of gold
The market value of gold is a significant factor that influences the value of the 1987 $5 gold coin. Gold is a precious metal with a long history of being used as currency and a store of value. The price of gold is determined by supply and demand, as well as economic and geopolitical factors.
When the market value of gold increases, the value of the 1987 $5 gold coin also tends to increase. This is because the coin is made of gold, and its value is directly tied to the price of gold. Conversely, when the market value of gold decreases, the value of the coin also tends to decrease.
For example, in 2020, the market value of gold reached an all-time high of over $2,000 per ounce. As a result, the value of the 1987 $5 gold coin also increased, with some coins selling for over $500. However, in 2021, the market value of gold decreased, and the value of the coin also decreased.
Understanding the connection between the market value of gold and the value of the 1987 $5 gold coin is important for collectors and investors. By staying informed about the gold market, they can make informed decisions about buying and selling coins.
| Market value of gold | 1987 $5 gold coin value |
|---|---|
| Increases | Tends to increase |
| Decreases | Tends to decrease |
In summary, the market value of gold is a key factor that influences the value of the 1987 $5 gold coin. Understanding this connection is essential for collectors and investors who want to make informed decisions about buying and selling coins.
Appraisal
In the realm of numismatics, the appraisal of a 1987 $5 gold coin by a qualified professional holds significant relevance in determining its accurate value.
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Authentication and Verification:
A qualified professional, such as a certified numismatist or appraiser, can authenticate the coin’s genuineness and verify its composition, weight, and dimensions. This process ensures that the coin is not a counterfeit and that it meets the established standards for a 1987 $5 gold coin.
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Grading and Condition Assessment:
A professional appraisal involves a meticulous examination of the coin’s condition, including its surface preservation, luster, and any imperfections or signs of wear. The assigned grade accurately reflects the coin’s overall condition, which significantly influences its value.
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Market Analysis and Value Determination:
Qualified professionals possess extensive knowledge of the numismatic market and can provide an informed assessment of the coin’s value based on current market trends, comparable sales, and historical data. This analysis helps determine a fair and accurate value for the coin.
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Documentation and Certification:
A professional appraisal typically includes a detailed report that documents the coin’s characteristics, grade, and estimated value. This documentation serves as a valuable reference for insurance, estate planning, or future sale.
An appraisal by a qualified professional is crucial for collectors, investors, and individuals seeking to determine the accurate value of their 1987 $5 gold coin. It provides peace of mind, ensures transparency, and facilitates informed decision-making regarding the coin’s acquisition, sale, or preservation.
1987 $5 Gold Coin Value
This section addresses commonly asked questions and misconceptions surrounding the value of the 1987 $5 gold coin, providing concise and informative answers.
Question 1: What factors influence the value of a 1987 $5 gold coin?
Several factors contribute to the value of a 1987 $5 gold coin, including its composition, weight, diameter, mintage, condition, and the current market value of gold. Each of these factors plays a role in determining the coin’s worth and desirability among collectors and investors.
Question 2: How do I determine the condition of my 1987 $5 gold coin?
Assessing the condition of a 1987 $5 gold coin requires careful examination of its surface preservation, luster, and any visible imperfections or wear. While it is possible to self-evaluate the coin’s condition, seeking a professional grading service is recommended to obtain an accurate and impartial assessment.
Question 3: What is the difference between a proof and an uncirculated 1987 $5 gold coin?
Proof coins are specially minted to showcase their intricate designs and mirror-like finish. They are produced using polished dies and multiple strikes, resulting in a superior quality compared to uncirculated coins. Uncirculated coins, intended for circulation, are struck once with less polished dies and may exhibit slight imperfections or wear from handling.
Question 4: How does the market value of gold affect the value of a 1987 $5 gold coin?
The market value of gold has a direct impact on the value of the 1987 $5 gold coin. As the price of gold fluctuates, so too does the value of the coin. When the market value of gold increases, the coin’s value tends to rise, and vice versa.
Question 5: Why is it important to have my 1987 $5 gold coin appraised by a qualified professional?
A professional appraisal provides an unbiased evaluation of your coin’s authenticity, condition, and value. This documentation is valuable for insurance purposes, estate planning, or future sale, ensuring transparency and informed decision-making.
Question 6: Where can I find a qualified professional to appraise my 1987 $5 gold coin?
Several organizations and platforms offer professional coin appraisal services. Look for reputable and experienced numismatists or appraisal firms. Online resources and industry directories can assist in finding a qualified professional in your area or specializing in gold coin appraisal.
Understanding these factors and seeking professional guidance when necessary will empower you to make informed decisions regarding the acquisition, valuation, and preservation of your 1987 $5 gold coin.
Transition to the next article section:
For further insights into the 1987 $5 gold coin, continue to the next section, where we delve into its historical significance and legacy.
Tips for Determining the Value of Your 1987 $5 Gold Coin
Accurately assessing the value of your 1987 $5 gold coin requires careful consideration and attention to detail. Here are some informative tips to guide you in this process:
Tip 1: Understand the Coin’s Specifications
Familiarize yourself with the coin’s composition (90% gold, 10% copper), weight (8.359 grams), diameter (21.59 mm), and mintage (24,305,000). These specifications play a crucial role in determining the coin’s rarity and desirability.
Tip 2: Assess the Coin’s Condition
The condition of your coin significantly impacts its value. Examine the surface for any scratches, dents, or wear. If possible, use a magnifying glass to inspect the details and luster of the coin.
Tip 3: Determine if the Coin is Proof or Uncirculated
Proof coins are specially minted with a mirror-like finish, while uncirculated coins are intended for circulation and may exhibit slight imperfections. Identifying the coin’s type will help you gauge its relative value.
Tip 4: Consider the Market Value of Gold
The price of gold fluctuates over time and directly affects the value of your coin. Stay informed about the current market value of gold to understand its impact on the coin’s worth.
Tip 5: Seek Professional Appraisal
For a precise and unbiased assessment of your coin’s value, consider seeking an appraisal from a qualified numismatist or appraisal firm. A professional appraisal provides documentation that can be valuable for insurance, estate planning, or future sale.
Tip 6: Research and Compare
Consult reputable numismatic resources, such as coin catalogs and online forums, to research comparable sales and current market trends. This information will give you a better understanding of your coin’s potential value.
Tip 7: Handle the Coin with Care
To preserve the coin’s condition and value, handle it with care. Use cotton gloves or a soft cloth when touching the coin, and store it in a protective case or holder.
Summary:
By following these tips and conducting thorough research, you can gain a comprehensive understanding of the factors that determine the value of your 1987 $5 gold coin. Remember to seek professional guidance when necessary to ensure an accurate appraisal and informed decision-making.
Conclusion
In summary, the 1987 $5 gold coin holds significant value due to various factors, including its composition, weight, diameter, mintage, condition, and the current market value of gold. Understanding these elements and seeking professional appraisal when necessary will empower individuals to make informed decisions regarding the acquisition and valuation of this coin.
The 1987 $5 gold coin represents a piece of monetary history and remains a sought-after collectible among numismatists and investors alike. Its enduring value serves as a testament to the enduring allure of gold and the significance of preserving historical artifacts.