While many may think coins don’t change much from year to year, there are notable differences in Silver Eagle coins, especially when it comes to their collectability and value. Some of these coins are highly sought after, not just for their silver content, but also due to their rarity and historical significance. Continue reading to discover the 10 key date American Silver Eagles you should consider adding to your collection.
Auction Record: $21,500; MS70
Let’s first take a closer look at what makes the American Silver Eagle coin so special.
What Is the American Silver Eagle?
The history of American currency dates back to 1775, but the American Silver Eagle is a relatively new addition. First minted on November 24, 1986, it doesn’t have the long legacy of other U.S. coins, but its short history is filled with fascinating details and important milestones.
One of the key dates for the American Silver Eagle series is 1986, when the first coin in this series was struck. This event was monumental because the 1986 Silver Eagle was the first silver bullion coin officially produced by the United States government.
But what led to the creation of this coin? It all began with the 1985 Liberty Coin Act.
What Is the 1985 Liberty Coin Act?
Formally known as Public Law 99-51, this act was signed by President Ronald Reagan. It allowed the U.S. Mint to produce a large number of $1 coins—but these weren’t ordinary dollar coins. They were required to be made of 99.9% silver. This provision attracted not only coin collectors but also precious metal investors.
The reason for this act was the large surplus of silver being mined at the time. The U.S. government needed a way to prevent this silver from going to waste. The design of the American Silver Eagle was modeled after the much older Walking Liberty half-dollar, which had been minted from 1916 to 1947.
This design, created by German-American sculptor Adolph A. Weinman, is considered one of the most beautiful coin designs in U.S. history.
A Deep Dive Into the History of the American Silver Eagle
The first American Silver Eagle was minted in San Francisco during a special ceremony. Secretary of the Treasury James A. Baker III presided over the event, famously declaring, “I don’t need a pick and shovel to start the San Francisco Silver Rush of 1986.”
He wasn’t wrong—American Silver Eagles quickly became some of the most popular silver coins ever minted. These coins even inspired the creation of other popular series, such as the American Platinum Eagle and American Gold Eagle.
Initially, Silver Eagles were minted at the San Francisco Mint until 1998, when production was shifted to the West Point Mint due to its higher capacity.
Each Silver Eagle carries a mintmark that indicates where it was produced. For instance, coins minted in San Francisco bear an “S” mintmark, while those produced in West Point are marked with a “W.” This tradition continues to this day, with different mintmarks often increasing a coin’s collectability.
The Most Expensive American Silver Eagle Coins Ever Minted
Now that we understand the history behind American Silver Eagles, let’s look at some of the most valuable examples. As we mentioned earlier, not all Silver Eagles are created equal—some are only worth a few dollars, while others can sell for over $10,000.
So what causes this wide variation in value? Factors such as rarity, condition, and unique minting errors all play a role in determining the worth of a Silver Eagle coin.
FAQs
What makes certain American Silver Eagles valuable?
Rarity, condition, and unique minting errors are the primary factors that increase the value of American Silver Eagles.
Why are some Silver Eagles worth thousands of dollars?
Coins with rare minting errors, low mintage, or in pristine Mint State condition (MS70) can command prices of $10,000 or more.
Where are American Silver Eagles minted?
Originally minted at the San Francisco Mint, production shifted to the West Point Mint after 1998. Each coin carries a mintmark denoting its place of origin.