I'd say EF myself.
"I can imagine loads are around in VGC being kept as a "Ooooooooooh this will be worth loads in years to come!?!" so not expecting a huge value on it...."
There were certainly collectors back then, but tended to collect hammered and early milled. Even by 1926 (the date of Spink's Milled Coinage) coins of Edward VII and later were considered too modern to be of interest, and 1887 collectors or even members of the public would have put them aside purely as mementoes, no thought they would be worth anything in years to come.
In that condition I'd rate it about £40+ if the colour is good (not what the photo shows).