10 Key Date American Silver Eagles to Collect

While you might not expect coins to differ that much from year to year, you might find it interesting to discover what differences the Silver Eagles can offer, especially when it comes to Silver Eagle value. Since some of these coins can be very valuable because of their silver content and collectability, these coins might be of interest to silver investors as well. Continue reading to lear more about 10 key date American Silver Eagles to collect.

AUCTION RECORD: $21, 500; MS70 

To begin, let's take a closer look at what the American Silver Eagle coin is.

What Is the American Silver Eagle?

The first United States currency was created in 1775, but our currency has come a long way since then, especially for collectors and investors. The American Silver Eagle does not have as long of a history as other types of American currency. This is because the Silver Eagle was only first minted on November 24, 1986.

The comparative newness of the Silver Eagle does not mean, however, that it does not have a rich and interesting history. In fact, there are some very interesting and important facts connected to the creation and evolution of the Silver Eagle coin. For example, one of the earliest Silver Eagle key dates is tied with the very first 1986 Silver Eagle.

The 1986 Silver Eagle was the first silver bullion coin that was officially created by the United States government. However, what compelled the U.S. government to take the plunge and create this unique series of coins?

It all started with Senator James McClure who sponsored the 1985 Liberty Coin Act. If you're not a die-hard coin collector, you might not be aware of what this act means, but you should if you are interested in collectible bullion coins.

What Is the 1985 Liberty Coin Act?

The Liberty Coin Act is also known as the Public Law 99-51 when written formally. Its approval stemmed from the president at the time, Ronald Regan. This act allowed for the minting of a large number of $1 coins.

However, these coins would not be any ordinary $1 coins. Instead, these coins would consist of 99.9% silver. This high percentage of silver is, of course, not of interest to coin collectors alone, but to precious metal investors as well. This act came about because, at the time, there was a large surplus of silver extracted from silver mines, and something needed to happen so the silver wouldn't go to waste.

In fact, the design of a typical Silver Eagle originates from the design of much older coins: the Walking Liberty half-dollar coins which became minted between the years of 1916 and 1947. The designs for the Walking Liberty half-dollar coins came about from German-American sculpture Adolph A. Weinman. In order to appreciate the beauty of the American Silver Eagle coins and the Walking Liberty coins, it is important to note that the Walking Liberty coins are, to date, considered some of the most stunning coins to ever be designed.

A Deep Dive Into the History of the American Silver Eagle

The first American Silver Eagle coin was minted in San Francisco at a minting ceremony. Presiding over the ceremony was Secretary of the Treasury James A. Baker III. At some point, he turned to the audience and announced "I don't need a pick and shovel to start the San Francisco Silver Rush of 1986."

He wasn't wrong and the American Silver Eagle soon became one of the most popular silver coins ever minted. Other kinds of coins of this sort soon followed in the footsteps of the Silver Eagle such as the American Platinum Eagle coins and the American Gold Eagle coins. However, the Silver Eagle coins, even today, remain some of the most popular options because of their affordability compared to other more expensive bullion coins.

Since the coin's creation in 1986, the Silver Eagle flowed from the San Francisco Mint until 1998. After 1998, the majority of the Silver Eagle coins were instead minted at the West Point Mint instead. This change likely came about because the West Point Mint had a larger capacity for production compared to the San Francisco Mint.

Ever since the creation of the Silver Eagle coin, each coin would have a letter or "proof" to show its origin. For example, Silver Eagle coins minted in San Francisco would have a small letter S, also known as a mintmark. Coins minted in West Point would, of course, have the letter W instead, with this mintmark practice still continuing to this day.

Certain Silver Eagle coins are valued by collectors for their unique production history or content. For example, some coins produced in certain years have different designs or silver content, making them different from other Silver Eagle coins. We will discuss specific coins later on.

Investing in Bullion American Silver Eagle Coins

It's important to remember that the American Silver Eagle coins are not attractive to coin collectors alone. If you're an investor rather than a collector, you should know all about what to expect when investing in silver bullion coins. This is because bullion coin investing can be a little different from investing in precious metals normally.

If you want to buy silver, there are many options you can choose from. For example, you can buy silver bars, rounds, or certificates. Why should you bother to buy silver bullion coins?

Much gold, silver is considered a safety net investment, meaning it's difficult for big losses to occur. This is because silver, although a bit more volatile than gold, is more or less stable on the market. Even if its price goes down, it likely will not be down for long.

During times of economic turmoil, investing in silver can be a great idea because it can offer increased financial security. While the value of legal tender can fluctuate wildly depending on inflation and other factors, the price of silver will remain stable in comparison.

You can also feel more secure when investing in silver bullion coins because you can possess them physically. They do not come in the form of paper or notes such as when you invest in silver certificates or bonds. Keep in mind that silver in the form of paper can easily depreciate while physical silver does not work in the same way.

A big benefit of silver investing is that it is cheaper than gold. If you don't have a lot of money to start investing, silver is the perfect place to start. Silver is also much easier to spend than gold.

Why Choose Coins?

You might be wondering why you should choose to invest in coins rather than silver jewelry or bars. The simple fact is that coins are very easy to store and obtain.

For example, silver jewelry can easily get tangled up and lost if it is not stored in a very particular place. Silver bars can be heavy and difficult to keep safe due to their larger size. Coins, however, are small enough that they can be stored in special coin books or other easy storage methods.

This will ensure that your coins are not only organized but will also not be damaged by external forces. Also, keep in mind that if you're in a tight spot, it's much easier to trade with coins than with bars or jewelry.

The only time you might want to opt for silver investment options other than coins is if you want to invest in huge amounts of silver. However, investing in huge amounts of anything is usually not the best idea for beginner or intermediate investors. In general, bullion coins remain a safe and affordable choice.

You might be wondering that because silver is cheaper than gold, you won't make back a lot of money. This, however, is incorrect. In fact, silver tends to yield higher returns than gold in general.

How to Buy Silver Bullion Coins

The first thing you need to keep in mind when buying silver bullion coins is making sure that the dealer you buy them from is reputable. It is not uncommon to be scammed out of your money by phony bullion dealers. When you're uncertain, it's always best to err on the side of caution.

When finding a dealer, you should look for someone who has a lot of experience selling and buying bullion, especially in different market conditions. A good thing to look for is an ANA (American Numismatic Association) dealer since they need to adhere to certain rules and codes of ethics when selling bullion.

The second thing you should be aware of when buying bullion is not only the cost of the coin itself but the cost of the metal. Silver, along with other precious metals, tends to fluctuate in price by the day, so before you buy anything, make sure you check the prices. Certain coins may be worth more than the amount of metal they contain because of their collectible value.

The last thing you need to be aware of is that no investment is safe in its entirety. While silver coins are a safe investment in general, as with any investment, there is always the risk that you could lose money.

However, this fear should not deter you from investing. Instead, be sure that you don't invest money that you aren't prepared to lose. This way, you can take a more relaxed outlook when investing in bullion.

The Most Expensive American Silver Eagle Coins Ever Minted

Now that we have a better understanding of the American Silver Eagle coin and what it's like to invest in silver bullion coins, we can take a closer look at various Silver Eagle coins. As mentioned before, American Silver Eagle coins can vary in a variety of ways, and especially in value. This is not to say that every Silver Eagle coin will make you a wealthy and happy collector or investor.

In fact, some Silver Eagle coins are only worth a few dollars. On the other hand, some Silver Eagle coins can be worth more than $10,000. What causes this massive range of value when it comes to these coins?

Several factors are involved, but one of the most prominent factors is the mintage. The U.S. Mint usually issues only a certain number of coins per coin. The lower the mintage (meaning there is a smaller number of coins), the higher the value of the coin.

Another factor is where the coins come from. Certain places such as the Philadelphia Mint might produce a small number of certain coins, making them rare compared to others.

Quality is also important when it comes to coin value. A grade of 70 is considered perfect, according to coin collectors. Of course, since most coins are not in perfect condition, those that are in perfect condition will be much more expensive.

Supply and demand as well as the time a coin was minted are also important factors. However, time is one of the less significant variables when it comes to coin price. Because of this, because one coin is older than another does not make it worth more.

Let's take a closer look at different American Silver Eagle coins.

1986 American Silver Eagle

The 1986 American Silver Eagle is the first of its kind and sparked an obsession with Silver Eagle coins that is alive even today. All coins of this kind consist of an ounce of pure silver. They all also have a face value of $1.

The design consists of Lady Liberty on the face of the coin with the sun in the background. The phrases "liberty" and "in God we trust" are on the coin. On the back of the coin, there are 13 stars, an eagle, and a shield.

There should be a small S near the eagle, proving its origin from San Francisco. Since many of these coins exist, they hold the affordable price of $20 or so in perfect condition. However, if this coin is without a mintmark, it can be worth as much as $50.

2021 American Silver Eagle

The 2021 American Silver Eagle, while not one of the most expensive coins, is important because it marks the 35th anniversary of the American Silver Eagle. It is also unique because of its change in design. Instead of the eagle and shield on the reverse side of the coin, an eagle in flight is the display instead

This eagle carries an oak branch in its talons and its wings are splayed across the reverse side of the coin, making for an impressive design. Because of its unique design and its mintage, the 2021 Silver Eagle may be worth more in the future. However, currently, the price of this coin hovers around $40 or more when sold in perfect condition.

2013-W (Reverse Proof) Silver Eagle

Reverse proof refers to the fact that the fields of these coins are frosty compared to normally struck coins. The field of these coins may also be as reflective as a mirror. This adds additional value for collectors.

In 2013, not many of these reverse-proof coins were made. Because of this, a 2013-W reverse proof Silver Eagle coin can easily be worth more than $100, usually around $120 in perfect condition. However, if the coin does not have a mintmark, it may be worth less than average.

2013-W (Enhanced Finish) American Silver Eagle

The 2013-W American Eagle Coin is not much different from the 2013-W reverse proof coin. However, there is one important change: the enhanced finish. The enhanced finish features a unique frosted appearance on the coin which is not very common.

Prices for the 2021-W enhanced finish Silver Eagle tend to hover around $100 r more.

1993 P American Silver Eagle

While the 1993 P American Silver Eagle may look like any other Silver Eagle coin, because of its mintage and proof, it can be worth more than your average coin. The letter P on this coin represents that it came from the Philadelphia Mint. Not many of these exist, but since they are not one of the rarest coins on this list, they are also not the most expensive.

The value for these coins tends to range from $90 to $100. Depending on the condition of the coin, it may be worth more or less. Whatever the case, this coin is a favorite among coin collectors.

2011-S Burnished American Silver Eagle

The 2011-S burnished American Silver Eagle is special because it was created on the 25th anniversary of the Silver Eagle. Not many people know about the existence of this coin, especially in burnished form. Burnished refers to the appearance of the coin.

Unlike reverse-proof coins, which are shiny like mirrors, burnished coins have more of a matte finish. This coin has a very low mintage, among some of the lowest mintages of any Silver Eagle coin, in fact. Because of these various factors, this coin can be worth up to several hundred dollars in perfect condition, sometimes as much as $400 or more.

2008-W American Silver Eagle Reverse of 2007

Starting with this American Silver Eagle coin, the value starts to rise. This 2008-W coin is unique for one very special reason. In the year before, 2007, American Silver Eagles had a unique font design on the reverse side of the coins.

This change in font specifically affected the letter U in "The United States of America" as well as the hyphen between the words "silver-dollar." The details of this font are so slight that they would sneak past everyone except the most adept of coin collectors.

What makes the 2008-W Silver Eagle so expensive is that the font of the U and the hyphen are slightly different from the year before. Not many of these were ever minted either. While the differences between the 2007 and 2008 Silver Eagles are slight, they are significant.

This is because the 2008-W American Silver Eagle Reverse of 2007 can range from between $1,000 and $2,000 dollars, if not more when sold in perfect condition.

1990 American Silver Eagle

The 1990 Silver Eagle is the third rarest of all Silver Eagles. This is because only very few of them were ever minted. Today, few of them remain in perfect condition which makes them even more valuable.

This type of coin can easily sell for $3,000, if not more. The price, of course, depends on the condition.

1994 American Silver Eagle

The 1994 American Silver Eagle is just ahead of the 1990 coin as the second rarest Silver Eagle. It is also the second-ever Silver eagle to sell for five figures.

Coins of this coin, especially when in good condition, can sell for more than $10,000 if not $11,000.

1999 American Silver Eagle

Finally, we arrive at the rarest American Silver Eagle. Very few of them were ever minted, making it very difficult to get your hands on. This, of course, makes it tantalizing to coin collectors.

A 1999 American Silver Eagle has previously sold for $13,000, making it one of the most expensive coins around.

FAQ

1. What are key date American Silver Eagles? Key date American Silver Eagles are specific years of issue that are considered more desirable due to their low mintage, significant demand, or unique characteristics. These coins are highly sought after by collectors and investors alike.
2. Which American Silver Eagle is the rarest? The 1995-W Proof American Silver Eagle is considered the rarest in the series, with a mintage of only 30,125 coins. It was part of the 10th Anniversary American Eagle Proof Set and is highly prized by collectors.
3. How can I identify a key date American Silver Eagle? Key date American Silver Eagles can be identified by their year of issue and sometimes by special mint marks or finishes. Familiarizing yourself with the mintage numbers and any unique characteristics of specific releases can help in identifying these coins.
4. What makes the 2006-W American Silver Eagle special? The 2006-W American Silver Eagle is special because it marks the 20th anniversary of the American Silver Eagle program. It was offered in a three-coin set that included a reverse proof coin, which was a first for the series.
5. Why is the 1996 American Silver Eagle considered a key date? The 1996 American Silver Eagle is considered a key date due to its relatively low mintage of approximately 3.6 million coins, the lowest bullion mintage in the series. This scarcity has increased its demand among collectors.
6. Are Burnished American Silver Eagles worth collecting? Yes, Burnished American Silver Eagles are worth collecting. They feature a unique matte finish and are struck on specially prepared planchets, making them distinct from the regular bullion issues. Certain years, like the 2008-W, have lower mintages, adding to their collectibility.
7. What is the value of a 2001 American Silver Eagle? The value of a 2001 American Silver Eagle varies based on its condition and whether it is a bullion, proof, or uncirculated (burnished) version. While bullion versions may be closer to the current silver spot price, proof and uncirculated versions can command higher premiums.
8. How does the 2019-S Enhanced Reverse Proof American Silver Eagle stand out? The 2019-S Enhanced Reverse Proof American Silver Eagle stands out due to its unique finish and extremely low mintage of only 30,000 coins, making it one of the most sought-after modern U.S. coins. It features an enhanced reverse proof finish, which adds a level of detail and beauty not found in standard issues.
9. Can I find key date American Silver Eagles in circulation? No, American Silver Eagles are not released into general circulation. They are sold by the U.S. Mint and authorized purchasers to collectors and investors. Key date coins can be found through coin dealers, auctions, or from other collectors.
10. What is the best way to store and protect my American Silver Eagle collection? The best way to store and protect your American Silver Eagle collection is by using acid-free coin holders, capsules, or albums specifically designed for coins. Keeping them in a cool, dry place away from direct sunlight and handling them carefully will help preserve their condition and value.