To a trackside platform, such as at a depot where passengers board, I have 7/8" exactly. It allows my larger steamers, such as the Allegheny, to roar past.
Caveat - this is on tangent track, NOT on a curve!
Once you have your trains on a curve, particularly steamers, especially large ones, the cab walls, roof rearward extensions, injector downspout overflows on either side under the cab, smoke lifters, and pilot beams will begin to snag, and it gets worse as the curvature sharpens. You would be fine on curves in excess of 40" radius typically, but anything under that, you will possibly have heartache. So, the best insurance is to mock it up and see what passes by the closer you get when you configure the setup the way you hope to have it on your layout.