Jump to: Why collect Silver Eagles? | Silver Eagle Design | Silver Eagle Value Chart | Bullion Coins | Proof and Reverse Proof Coins | Burnished Uncirculated Coins
The American Silver Eagle represents the cream of the crop of the United States Mint products. Ever since its launch in 1986, it has grown to become the most important silver bullion coin program in the world. So much so that it actually shares a collector market. And we’re not referring to proof, reverse proof, and burnished versions. Some Silver Eagles in BU condition might actually reach 100 times its silver content value. Today, the program has reached the 2022's with the 2022 Silver Eagle Coin.
In this article, we will cover a brief history of the American Eagle silver coin program, its appeal as a collectible item, its iconic design, and delineate a value chart based on the current silver spot price (updated December 2021). Of course, when it comes to numismatic value, the condition of the coin is of utmost importance. Thus, we will only be covering PR and MS 69 and 70, which are the real gems when it comes to silver bullion coin collecting. Anything below that is too close to the silver spot price.
Why collect American Silver Eagles?
The American Silver Eagle is the most popular silver bullion coin in the world. Many experts will argue that they constitute the best way to invest in silver bullion because they usually fetch higher premiums.
In addition, as we will cover in this article, some graded key dates carry such enormous numismatic value, that their prices far surpass their intrinsic value (precious metal content).
The program started in 1986 as a way to deplete the Defense National Stockpile of silver. Both the American Gold Eagle and Silver Eagle were such an astounding success through the 1990s that Congress approved the extension of the program to include Platinum coins in 1997. More recently, in 2017, the United States Mint also started producing Palladium Eagles.
Because the coins were so popular, the US Mint began producing some variations dedicated mostly to collectors. Proof Silver Eagles were already in production since the inception of the program in 1986, but other varieties and special editions were introduced over the years, including the stunning reverse proof and the Burnished Uncirculated, usually accompanied by a Certificate of Authenticity.
The Silver American Eagle coin bears a face value of $1, issued by the United States Government and legal tender within U.S. territories. It contains 1 full troy ounce of pure silver.
You can also check out the Silver Eagle key dates for collectors.
American Silver Eagle Design
The obverse design is originally from the Walking Liberty Half Dollar coin, in production from 1916 to 1947. Adolph A. Weinman was the designer. The iconic portrait of Lady Liberty striding on a landscape touched by the sunburst of a rising sun, with the wind blowing Her gowns and the American flag wrapped around her shoulders. She has Her right arm stretched forward, as she leads the way to a brighter tomorrow while holding branches of laurel, celebrating the country’s achievements over the years on her left hand. The word “LIBERTY” adorns the outer rim on top, while the mint year appears on the lower face of the coin. The motto “IN GOD WE TRUST”, present in all American coinage, appears right behind Lady Liberty’s legs.
The initial reverse design was created by John Mercanti, the twelfth Chief Engraver of the US Mint. He depicted a spectacular heraldic eagle, with its wings wide open and a stripped shield on its chest, the great seal of the United States. The eagle grasps a bunch of arrows and olive branches on its talons, representing the country’s readiness for war, but the desire for peace. The bird holds a thin banner on its beak with the inscription “E PLURIBUS UNUM”. Above the eagle’s head are 13 five-pointed stars, representing the original colonies. Finally, encircling the design, are the words “UNITED STATES OF AMERICA” and “1 OZ. FINE SILVER ~ ONE DOLLAR”.
In 2020, the US Mint announced they would be implementing a new 2021 reverse design for both the American Gold Eagle and Silver Eagle. However, the new dies were not ready yet when production for the 2021 coins started, so the original design was kept for half a year and is, therefore, named American Silver Eagles 2021 Type 1. As the new design was introduced during the second half of the year, it became known as the 2021 Type 2 Silver Eagles.
Emily Damstra was the artist responsible for this new design. It shows a bald eagle landing on an oak branch, as the artist opted to portray this national symbol in a very natural way. But the inscriptions around the design remained the same.
American Silver Eagle Value Chart from 1986 to 2021
The following chart represents a pricing guide for the Silver Eagles, from 1986 to the 2021 Type 2 coin. The values are based on the two most prestigious grading companies in the United States, the PCGS and the NGC.
We separated the Value Chart in Bullion coins (MS), Proof coins (PR), including reverse proof coins, and Uncirculated coins (SP), also referred to as Burnished. Keep in mind these prices may vary slightly, according to possible fluctuations of the silver spot price.
American Silver Eagle Bullion Coins
| Mint Year | PCGS MS-69 | PCGS MS-70 | NGC MS-69 | NGC MS-70 |
| 1986 | $83 | $1,050 | $100 | $975 |
| 1987 | $60 | $1,200 | $60 | $1,025 |
| 1988 | $65 | $2,350 | $55 | $1,350 |
| 1989 | $62 | $1,225 | $90 | $1,425 |
| 1990 | $72 | $4,850 | $90 | $4,000 |
| 1991 | $60 | $2,800 | $65 | $3,600 |
| 1992 | $58 | $2,250 | $70 | $2,400 |
| 1993 | $64 | $4,750 | $55 | $4,550 |
| 1994 | $54 | $11,500 | $75 | $4,000 |
| 1995 | $66 | $2,600 | $90 | $875 |
| 1996 | $110 | $5,175 | $120 | $5,650 |
| 1997 | $57 | $1,225 | $55 | $1,200 |
| 1998 | $60 | $2,000 | $55 | $1,000 |
| 1999 | $68 | $13,500 | $65 | $12,000 |
| 2000 | $58 | $5,000 | $60 | $4,250 |
| 2000 Millenium Set | $95 | $14,000 | ||
| 2001 | $54 | $1,175 | $50 | $850 |
| 2002 | $60 | $540 | $55 | $315 |
| 2003 | $55 | $215 | $55 | $155 |
| 2004 | $56 | $145 | $50 | $100 |
| 2005 | $57 | $170 | $50 | $150 |
| 2006 | $52 | $150 | $50 | $130 |
| 2007 | $56 | $110 | $45 | $85 |
| 2008 | $54 | $85 | $45 | $65 |
| 2009 | $56 | $75 | $45 | $70 |
| 2010 | $52 | $60 | $45 | $55 |
| 2011 25th Anniversary | $52 | $77 | $45 | $75 |
| 2011 25th Anniversary Set | $52 | $65 | $75 | $365 |
| 2011-S 25th Anniversary Set | $160 | $285 | $75 | $365 |
| 2011-W 25th Anniversary Set | $55 | $75 | ||
| 2011(S) | $53 | $57 | $53 | $100 |
| 2011(W) | $54 | $65 | $50 | $85 |
| 2012 | $52 | $77 | $45 | $55 |
| 2012(S) | $60 | $62 | $40 | $50 |
| 2012(W) | $52 | $73 | $40 | $50 |
| 2013 | $52 | $66 | $40 | $65 |
| 2013(S) | $47 | $57 | $50 | $77 |
| 2013(W) | $47 | $62 | $40 | $70 |
| 2014 | $52 | $67 | $40 | $50 |
| 2014(S) | $50 | $57 | $39 | $67 |
| 2014(W) | $45 | $54 | $40 | $62 |
| 2015 | $52 | $57 | $40 | $65 |
| 2015(W) | $52 | $57 | $40 | $65 |
| 2015(P) | $500 | $750 | ||
| 2016 30th Anniversary | $52 | $63 | $35 | $50 |
| 2016(P) | $58 | $35 | $50 | |
| 2016(S) | $35 | $50 | ||
| 2016-W 30th Anniversary | $52 | $57 | $35 | $50 |
| 2017 | $52 | $63 | $35 | $50 |
| 2018 | $52 | $63 | $35 | $50 |
| 2019 | $52 | $57 | $35 | $50 |
| 2019(W) | $52 | $61 | $35 | $50 |
| 2020 | $48 | $60 | $65 | $90 |
| 2020(W) | $56 | $65 | $40 | $50 |
| 2021 Type 1 | $60 | $70 | $45 | $60 |
| 2021(P) Emergency Issue | $57 | $125 | $85 | $155 |
| 2021(S) Emergency Issue | $62 | $100 | $60 | $90 |
| 2021 Type 2 | $50 | $65 | ||
| 2021(W Type 2 | $55 | $70 | ||
| 2021-W Type 2 | $130 | $190 |
Silver Eagle Proof and Reverse Proof Coins
| Mint Year | PCGS PR-69 | PCGS PR-70 | NGC PR-69 | NGC PR-70 |
| 1986-S | $110 | #385 | $125 | $750 |
| 1987-S | $85 | $410 | $75 | $550 |
| 1988-S | $85 | $340 | $70 | $270 |
| 1989-S | $88 | $250 | $70 | $200 |
| 1990-S | $85 | $225 | $70 | $200 |
| 1991-S | $78 | $385 | $70 | $415 |
| 1992-S | $88 | $315 | $70 | $340 |
| 1993-P | $80 | $1,000 | $110 | $1,000 |
| 1994-P | $150 | $900 | $135 | $1,000 |
| 1995-P | $82 | $385 | $75 | $275 |
| 1995-W Anniversary Set | $3,275 | $19,000 | $3,500 | $16,500 |
| 1996-P | $100 | $400 | $100 | $350 |
| 1997-P | $85 | $410 | $80 | $475 |
| 1998-P | $80 | $225 | $75 | $200 |
| 1999-P | $88 | $340 | $70 | $240 |
| 2000-P | $85 | $450 | $70 | $300 |
| 2001-W | $76 | $175 | $70 | $135 |
| 2002-W | $80 | $150 | $70 | $135 |
| 2003-W | $85 | $135 | $70 | $135 |
| 2004-W | $80 | $110 | $75 | $100 |
| 2005-W | $78 | $110 | $75 | $100 |
| 2006-W | $78 | $120 | $75 | $100 |
| 2006-W 20th Anniversary Silver Dollar Set | $85 | $140 | $75 | $100 |
| 2006-P 20th Anniversary Silver Dolar Set Reverse Proof | $110 | $300 | $115 | $275 |
| 2007-W | $78 | $110 | $75 | $100 |
| 2008-W | $76 | $110 | $75 | $100 |
| 2010-W | $74 | $92 | $75 | $100 |
| 2011-W | $78 | $110 | $75 | $100 |
| 2011-W 25th Anniversary Set | $80 | $100 | $80 | $105 |
| 2011-P 25th Anniversary Set Reverse Proof | $260 | $425 | $200 | $400 |
| 2012-W | $80 | $110 | $75 | $100 |
| 2012-S | $75 | $105 | ||
| 2012-S San Francisco Eagle Set | $85 | $110 | $70 | $100 |
| 2012-S San Francisco Eagle Set Reverse Proof | $82 | $225 | $90 | $185 |
| 2013-W | $75 | $110 | $75 | $100 |
| 2013-W Reverse Proof | $82 | $130 | $100 | $135 |
| 2014-W | $75 | $110 | $75 | $100 |
| 2015-W | $75 | $97 | $75 | $100 |
| 2016-W Lettered Edge - 30th Anniversary | $80 | $150 | $75 | $120 |
| 2016-W | $75 | $87 | ||
| 2017-S | $75 | $100 | $80 | $120 |
| 2017-W | $75 | $100 | $70 | $100 |
| 2018-S | $75 | $100 | $75 | $100 |
| 2019-S | $75 | $100 | ||
| 2019-S Enhanced Reverse Proof | $1,175 | $,2550 | $1,500 | $2,500 |
| 2019-W | $75 | $90 | $75 | $100 |
| 2019-W Enhanced Reverse Proof | $145 | $190 | $70 | $125 |
| 2020-W | $82 | $135 | $80 | $120 |
| 2020-W "V75" | $475 | $650 | $525 | $650 |
| 2021-W Type 1 | $125 | $225 | $220 |
American Silver Eagle Burnished Uncirculated Coins
| Mint Year | PCGS SP-69 | PCGS SP-70 | NGC SP-69 | NGC SP-70 |
| 2016-W 20th Anniversary | $46 | $375 | ||
| 2006-W | $42 | $150 | $60 | $115 |
| 2007-W | $42 | $100 | $55 | $90 |
| 2008-W | $42 | $145 | $50 | $80 |
| 2008-W '07 Reverse | $490 | $1,150 | $525 | $1,000 |
| 2011-W | $42 | $110 | $47.50 | $70 |
| 2011-W 25th Anniversary Set | $45 | $100 | ||
| 2012-W | $60 | $135 | $60 | $85 |
| 2012-W Uncirculated Set | $100 | $120 | ||
| 2013-W | $55 | $115 | $80 | $150 |
| 2013-W Uncirculated Set | $60 | $120 | ||
| 2013-W Enhanced | $82 | $105 | ||
| 2014-W | $42 | $82 | $55 | $90 |
| 2015-W | $49 | $72 | $40 | $70 |
| 2015-W Uncirculated Set | $60 | $115 | ||
| 2015-W First Strike | $65 | $135 | ||
| 2016-W 30th Anniversary Lettered Edge | $70 | $115 | $50 | $100 |
| 2017-W | $54 | $90 | $50 | $90 |
| 2018-W | $55 | $78 | $65 | $90 |
| 2019-W | $65 | $78 | $65 | $90 |
| 2020-W | $90 | $145 | $75 | $175 |
Note: Keep in mind that when the US Mint branch where the mintage occurred is indicated after a hyphen, such as in 2012-S, it indicates it bears that mint mark. Whereas, when it is indicated within parenthesis, as in 2012(W), it means the coin was struck at that facility, but doesn’t contain any mint mark.
S = San Francisco Mint / W = West Point Mint / P = Philadelphia Mint
Purchase American Silver Eagles from SD Bullion
At SD Bullion, you will find a variety of American Silver Eagle coins, bullion, proof and uncirculated, enough to sate your investment needs or numismatic enthusiasm. Check out the one we have available in our inventory and enjoy the lowest premiums over the spot price of silver.
Talk to one of our sales representatives in case you have any questions or specific needs. We are ready to help you over the phone at 1(800)294-8732 or at sales@sdbullion.com. We have a live web chat feature as well, which you can access at the bottom right of your screen.
