In 1986, the United States of America formally entered into the worldwide bullion market with a variety of options. These included 1/10th, ¼, ½, and 1 Troy Ounce gold coins, but also a 1 Troy Ounce silver coin. The obverse was a faithful rendition of Weinman’s Walking Liberty Half Dollar design while the Heraldic Eagle reverse was designed by John Mercanti. In 2021, Emily Damstra redesigned the reverse of the American Silver Eagle from the Heraldic Eagle design to a Flying Eagle design.
While coin collectors wondered whether the American Eagle Bullion Coin Program would be a success, the US Mint forged ahead, and today it is the dominant player for both gold and silver bullion coins.
To learn more about the backstory, be sure to read our article on the history of American Silver Eagle coins.
Key Dates and Varieties
1986 American Silver Eagle
The Philadelphia Mint struck 5,393,005 Silver Eagles in 1986. But as a first-year coin, the demand was exceedingly high well after the coins were struck. While more than 5 million coins is not a small number, it was for the 1986 first-year coin.
1994 American Silver Eagle
The 1994 Silver Eagle, also struck at the Philadelphia Mint, had only 4,227,319 coins struck. It is a popular coin and prices are a little more than double the price of a more common date.
1995 American Silver Eagle
This is another date the 4 million coin range. The price for this better date is an additional 50% of the cost of a more common date.
1995-W American Silver Eagle – Proof
Previously, Proof coins for this series had been struck in San Francisco or in Philadelphia, so this was the first Proof issue to be struck at the West Point minting facility. It bears a “W” mintmark. A scant 30,125 coins were struck, and this is a really rare coin in all proof grades.
1996 American Silver Eagle
A much lower mintage of only 3,603,386 means that this 1996 American Silver Eagle BU coin has one of the very lowest Uncirculated mintages of the series.
2006-W American Silver Eagle – Burnished
Another coin that was issued to celebrate the 20th Anniversary of the American Silver Eagle was the Reverse Proof version. On a reverse proof, instead of frosted devices and mirrored fields, the fields are instead frosted, and the devices have a mirrored finish. A scarce and underappreciated coin.
2006-P American Silver Eagle – Reverse Proof
Another coin that was issued to celebrate the 20th Anniversary of the American Silver Eagle was the Reverse Proof version. On a reverse proof, instead of frosted devices and mirrored fields, the fields are instead frosted, and the devices have a mirrored finish. A scarce and underappreciated coin.
2008-W American Silver Eagle, Burnished, Reverse of 2007
The 2008-W Burnished Uncirculated coin has two distinct varieties. The common Burnished Reverse of 2008 coin had 533,757 coins struck. The scarce Burnished Reverse of 2007 coin only had a mere 47,000 coins struck. It is identified as having a plain “U” in the word “UNITED.” The more common 2008 style coins have a small serif in the bottom on the right side of the “U”. The 2007 style coins are worth 10 x what the 2008 style coins are worth.
2011-P American Silver Eagle, Reverse Proof
With a mintage of 99,882 coins struck, the value of this coin is 2.5 times higher than a common Proof coin.
2011-S American Silver Eagle, BU Burnished
It also has a mintage of exactly 99,882 coins just like the Reverse Proof 2011-P, therefore it is also a very scarce coin.
2013-W American Silver Eagle, Enhanced Uncirculated
With a mintage of 235,689 coins, this specific issue is worth double the price of a common Uncirculated American Silver Eagle.
2019-S American Silver Eagle, Enhanced Reverse Proof
This coin had only 29,909 coins struck, and it was only originally available in the Pride of Two Nations coin set, which paired US coins with coins of the Royal Canadian Mint.
2020-W American Silver Eagle, 75th Anniversary of WWII Proof w/ Privy Mark
There was a great demand for these privy-marked coins when they were issued and offered by the US Mint. Only 74,742 coins were struck, and the demand far exceeded it.
Values
| Date MM | Variety | Mintage | MS/PF 69 | MS/PF 70 |
| 1986 | BU | 5,393,005 | $100 | $1,100 |
| 1994 | BU | 4,227,319 | $90 | $8,000 |
| 1995 | BU | 4,672,051 | $75 | $1,200 |
| 1995-W | Proof – Privy | 30,125 | $4,000 | $20,000 |
| 1996 | BU | 3,603,386 | $100 | $4,000 |
| 2006-W | BU – Burnished | 468,020 | $75 | $140 |
| 2006-P | Reverse Proof | 248,875 | $150 | $400 |
| 2008-W | Burn, PF, Rev 2007 | 46,318 | $425 | $1,250 |
| 2011-P | Reverse Proof | 99,882 | $250 | $500 |
| 2011-S | BU – Burnished | 99,882 | $150 | $245 |
| 2013-W | BU – Enhanced | 281,310 | $65 | $150 |
| 2019-S | Enhanced Rev Pf | 29,909 | $1,300 | $2,400 |
| 2020-W | Proof w/Privy Mark | 74,742 | $425 | $725 |
| Common | BU | Unknown | $45 | $70 |
| Common | Proof | Unknown | $100 | $125 |
