The American Silver Eagle is the official silver bullion coin of the United States and the best-selling silver coin in the world. Since its introduction in 1986, the United States Mint has struck hundreds of millions of Silver Eagles in bullion, proof, and collector editions. At Clemson Coins, Currency, Bullion and Jewelry in Pendleton, SC, we buy American Silver Eagles every day, and we pay more than anyone in Upstate South Carolina.
History of the American Silver Eagle
The American Silver Eagle program was authorized by the Liberty Coin Act, signed into law by President Ronald Reagan on July 9, 1985. The first coins were struck in 1986 and released to the public on November 24 of that year. The program was created to sell silver from the Defense National Stockpile and to give American investors a convenient way to own silver in coin form.
The coin was an immediate success. In its first year, the United States Mint sold over 5.3 million bullion Silver Eagles. Demand has grown steadily over the decades, with annual sales regularly exceeding 30 million coins in recent years. The American Silver Eagle is now the benchmark silver bullion coin against which all others are measured.
Design: Obverse and Reverse
Obverse: Walking Liberty
The obverse of the American Silver Eagle features Adolph A. Weinman's iconic Walking Liberty design, originally used on the Walking Liberty Half Dollar from 1916 through 1947. It is widely regarded as one of the most beautiful designs in American coinage history.
Obverse: Liberty strides forward to the left, draped in the American flag, her right hand outstretched toward the rising sun. She carries branches of laurel and oak in her left arm. LIBERTY appears above and the date appears below. IN GOD WE TRUST appears to the left.
The Walking Liberty design was chosen for the Silver Eagle because of its timeless beauty and its strong association with American ideals. Weinman's original design has been faithfully reproduced on every Silver Eagle struck since 1986.
Reverse: Heraldic Eagle
The reverse design has changed twice since the program began, creating three distinct reverse types that collectors track carefully.
Type 1 Reverse (1986 to 2021): John Mercanti's heraldic eagle design. A bald eagle with wings spread wide holds a shield on its breast, an olive branch in its right talon, and a bundle of arrows in its left talon. A ribbon in the eagle's beak reads E PLURIBUS UNUM. Thirteen stars appear above the eagle. UNITED STATES OF AMERICA arcs above and 1 OZ. FINE SILVER ONE DOLLAR below.
Type 2 Reverse (2021 to present): Emily Damstra's redesigned eagle. The eagle is shown in a more naturalistic pose, landing with wings raised. The design is more detailed and three-dimensional than the Mercanti design. The 2021 Type 2 is the first year of the new reverse and is a key transitional coin.
The 2021 issue is particularly important to collectors because both the Type 1 and Type 2 reverses were struck that year, creating two distinct varieties. Both the bullion and proof versions of the 2021 Silver Eagle exist in Type 1 and Type 2 formats.
Specifications
Every American Silver Eagle, whether bullion, proof, or collector edition, contains exactly one troy ounce of .999 fine silver. The coins are 40.6mm in diameter and 2.98mm thick. The legal tender face value is one dollar, though the actual value is always determined by the silver content and any numismatic premium.
Bullion vs. Proof vs. Collector Editions
Understanding the difference between the three main types of Silver Eagles is essential for both buyers and sellers.
Bullion Silver Eagles
Bullion Silver Eagles are struck for investors who want to own silver. They are produced in large quantities at the West Point Mint and distributed through authorized purchasers, not sold directly to the public by the Mint. Bullion Eagles have a brilliant uncirculated finish but are not individually inspected or packaged. They are sold in tubes of 20 or monster boxes of 500.
Bullion Eagles trade at a modest premium over the spot price of silver. The premium fluctuates based on supply, demand, and market conditions. In normal markets, the premium over spot is typically $3 to $6 per coin. During periods of high demand, premiums can spike significantly.
Proof Silver Eagles
Proof Silver Eagles are struck for collectors. They are produced at the West Point Mint using specially prepared dies and polished planchets. Each coin is struck multiple times to bring up the design detail. The result is a coin with mirror-like fields and frosted devices, a finish called cameo or deep cameo.
Proof Eagles are sold directly by the United States Mint in individual capsules with certificates of authenticity. Annual mintages are much lower than bullion Eagles, and some years have very low mintages that create significant collector premiums.
Collector and Special Editions
Over the years, the Mint has produced numerous special editions including burnished uncirculated Eagles, reverse proof Eagles, enhanced reverse proof Eagles, and various anniversary sets. These collector editions often have low mintages and can carry substantial premiums over bullion value.
Key Dates and Low Mintage Issues
While most American Silver Eagles trade primarily on their silver content, certain dates and varieties carry significant numismatic premiums.
1986: The first year of issue. Always in demand from collectors who want the first coin in the series. Bullion Mintage: 5,393,005. Proof Mintage: 1,446,778.
1994: Low proof mintage of 372,168, the lowest of the 1990s other than the 1995-W. A key date for proof collectors. Bullion Mintage: 4,227,319.
1995-W: The rarest regular-issue proof Silver Eagle. Mintage of only 30,125, available only as part of a 10th Anniversary set. Worth $2,000 to $10,000+ in top grades.
1996: Low bullion mintage of 3,603,386, the lowest of the 1990s for bullion issues. Worth a modest premium over spot in circulated condition and more in high Mint State grades.
2008-W Reverse of 2007: A variety created when the Mint used the prior year's reverse die. Identified by the shape of the U in UNITED. Worth $200 to $500+ depending on grade.
2019-S Enhanced Reverse Proof: Mintage of 30,000. Worth $500 to $1,500+ depending on grade.
2021 Type 1 and Type 2: Both varieties exist in bullion and proof. The Type 2 is the first year of the new reverse design. Both are actively collected as transitional issues.
2022 and beyond: The new Type 2 reverse series is still young. Early dates in high grades and special finishes are being actively collected.
Grading American Silver Eagles
Bullion Silver Eagles are graded on the standard Sheldon scale. Because they are struck for circulation as bullion rather than as collector coins, they often have minor contact marks from handling and storage. The key grades for Silver Eagles are:
MS-69: A nearly perfect coin with only minor imperfections visible under magnification. The vast majority of certified bullion Silver Eagles grade MS-69. This is the standard grade for a well-preserved bullion Eagle.
MS-70: A perfect coin with no post-mint imperfections visible under 5x magnification. MS-70 Silver Eagles command significant premiums over MS-69 examples. Early-date MS-70 coins are particularly valuable.
PR-69 DCAM: For proof Eagles, a nearly perfect deep cameo coin. The standard grade for a well-preserved proof Eagle.
PR-70 DCAM: A perfect proof with full deep cameo contrast. Commands a premium over PR-69 examples.
Third-party certification by PCGS or NGC adds value and liquidity to Silver Eagles, particularly for key dates, special editions, and high-grade examples.
***A note from Clemson Coins: investing in uncirculated and/or proof American Silver Eagles in MS-69, MS-70, PR-69 or PR-70 grade is something we strongly advise against. Silver would have to increase far too much to even break even investing in these modern-day marketed coins. Exceptions to this would of course be early issues up to perhaps 2000 in MS-70 or PR-70. For further advice or information, contact us.***
American Silver Eagle Values
Values for American Silver Eagles as of mid-2026. Bullion values fluctuate with the silver spot price. Numismatic premiums are in addition to silver content value.
| Type | Grade | Approximate Value |
|---|---|---|
| Bullion (common date) | Raw / circulated | Spot + $3 to $6 |
| Bullion (common date) | MS-69 certified | Spot + $8 to $15 |
| Bullion (common date) | MS-70 certified | Spot + $30 to $60 |
| Proof (common date) | PR-69 DCAM | $60 to $90 |
| Proof (common date) | PR-70 DCAM | $100 to $175 |
| 1995-W Proof | PR-69 DCAM | $3,000 to $4,500 |
| 1995-W Proof | PR-70 DCAM | $5,000 to $8,000+ |
| 1996 Bullion | MS-69 | Spot + $20 to $40 |
| 2021 Type 2 Bullion | MS-70 | Spot + $50 to $100 |
Should You Buy Bullion or Proof Silver Eagles?
The Answer Depends on Your Goals.
If you are buying silver as an investment or store of value, bullion Eagles are the right choice. They are easy to buy, easy to sell, and trade at a predictable premium over spot. Any coin dealer, bullion dealer, or precious metals exchange will buy them without hesitation.
If you are a collector, proof Eagles offer the beauty of the cameo finish and the satisfaction of building a complete set. Key dates like the 1995-W can appreciate significantly over time. However, proof Eagles are harder to sell quickly at full value because the market is smaller than the bullion market.
Special editions and collector sets can offer the best of both worlds, but they require more research to buy and sell at fair prices.
Selling Your American Silver Eagles in Upstate South Carolina
If you have American Silver Eagles to sell, whether a single coin or a monster box, Clemson Coins, Currency, Bullion and Jewelry pays the most in Upstate South Carolina. We buy bullion Eagles, proof Eagles, special editions, and complete sets. We know the market and we price every coin fairly.
We are located at 7611 HWY 76, Pendleton, SC 29670, just minutes from Clemson, Anderson, Greenville and Seneca. Call us at 864-502-0100 before you make the drive. We are happy to discuss your coins over the phone and give you a realistic sense of value.
Complete American Silver Eagle Mintage Tables
Type 1 Silver Eagles (1986 to 2021)
| Year | Bullion | Proof | Uncirculated |
|---|---|---|---|
| 1986 | 5,393,005 | 1,446,778 | -- |
| 1987 | 11,442,335 | 904,732 | -- |
| 1988 | 5,004,646 | 557,370 | -- |
| 1989 | 5,203,327 | 617,694 | -- |
| 1990 | 5,840,110 | 695,510 | -- |
| 1991 | 7,191,066 | 511,924 | -- |
| 1992 | 5,540,068 | 498,543 | -- |
| 1993 | 6,763,762 | 405,913 | -- |
| 1994 | 4,227,319 | 372,168 | -- |
| 1995 | 4,672,051 | 407,822 | -- |
| 1995-W | -- | 30,125 | -- |
| 1996 | 3,603,386 | 500,000 | -- |
| 1997 | 4,295,004 | 440,315 | -- |
| 1998 | 4,847,549 | 450,728 | -- |
| 1999 | 7,408,640 | 549,330 | -- |
| 2000 | 9,239,132 | 600,743 | -- |
| 2001 | 9,001,711 | 746,398 | -- |
| 2002 | 10,539,026 | 647,342 | -- |
| 2003 | 8,495,008 | 747,831 | -- |
| 2004 | 8,882,754 | 801,602 | -- |
| 2005 | 8,891,025 | 816,663 | -- |
| 2006 | 10,676,522 | 1,092,477 | 466,573 |
| 2006-P Reverse Proof | -- | 248,875 | -- |
| 2007 | 9,028,036 | 821,759 | 621,333 |
| 2008 | 20,583,000 | 700,979 | 533,757 |
| 2009 | 30,459,000 | -- | -- |
| 2010 | 34,764,500 | 849,861 | -- |
| 2011 | 40,020,000 | 947,355 | 409,766 |
| 2011-S | -- | -- | 99,882 |
| 2011-P Reverse Proof | -- | 99,882 | -- |
| 2012 | 33,742,500 | 877,731 | 226,120 |
| 2012-S | -- | 281,792 | -- |
| 2012-S Reverse Proof | -- | 224,935 | -- |
| 2013 | 42,675,000 | 934,818 | 221,981 |
| 2013-W Reverse Proof | -- | 235,689 | -- |
| 2013-W Enhanced | -- | -- | 235,689 |
| 2014 | 44,006,000 | 944,757 | 253,169 |
| 2015 | 47,000,000 | 707,518 | 223,879 |
| 2016 | 37,701,500 | 521,432 | 172,802 |
| 2017 | 18,065,500 | (W) 440,596 / (S) 123,799 | 176,739 |
| 2018 | 15,700,000 | (W) 430,053 / (S) 197,005 | 138,947 |
| 2019 | 14,863,000 | (W) 375,180 / (S) 200,696 | 141,030 |
| 2019 Enhanced Rev Proof | -- | (W) 99,675 / (S) 29,909 | -- |
| 2020 | 30,089,500 | (W) 357,111 / (S) 191,271 | 154,863 |
| 2020-W V75 Privy | -- | 74,742 | -- |
| 2021 | (P) 1,577,500 / (W) 10,528,500 / (S) 1,000,000 | (W) 416,044 | -- |
| 2021-W Reverse Proof | -- | 124,916 | -- |
Type 2 Silver Eagles (2021 to Present)
Type 2 Silver Eagles feature Emily Damstra's flying eagle reverse, introduced mid-2021. Mintages are subject to change and reflect the most current information as of March 5, 2026.
| Year | Bullion | Proof | Uncirculated |
|---|---|---|---|
| 2021 | (W) 11,811,000 / (S) 2,765,000 | (W) 434,488 / (S) 225,661 | 185,791 |
| 2021-S Reverse Proof | -- | 124,916 | -- |
| 2022 | 16,000,000 | (W) 663,834 / (S) 316,698 | 220,180 |
| 2023 | 24,750,000 | (W) 560,462 / (S) 241,301 | 177,482 |
| 2024 | 24,862,000 | (W) 381,214 / (S) 213,066 | 150,342 |
| 2024 (P) Star Privy | 500,000 | -- | -- |
| 2024 (P) Eagle Privy | 500,000 | -- | -- |
| 2025 | 11,568,000 | (W) 330,981 / (S) 131,744 | 101,992 |
| 2025-W Army Privy | -- | 99,964 | -- |
| 2025-S Navy Privy | -- | 99,894 | -- |
| 2025-P Marine Corps Privy | -- | 96,986 | -- |
| 2026 | TBD | TBD | TBD |
Clemson Coins, Currency, Bullion and Jewelry. We Pay More, ALWAYS!
7611 HWY 76, Pendleton, SC 29670 · Call 864-502-0100