The Demand for American Silver Eagle Coins is the Key to their Value

American Silver Eagle coins are among the most collectible coins in the world.  Because they do not have a uniform price many collectors want to know how to value American Silver Eagle coins.  While each coin has a face value of $1 and their silver content value is determined by the spot price of silver, the numismatic value of many of these unique and beautiful coins is much higher.

In short, the numismatic value of any American Silver Eagle coin is determined by demand.  The mint numbers from the years of production vary quite a bit.  For example from 1986 through 1988 the mintages are 6.8 million, 12.3 million and back down to 5.6 million successively.  The most coins were minted in 2009 with 30.5 million being released.  Bullion coins are those without special processing and are minted in the highest quantities.  Therefore they tend to have the least premium value above the price of the silver content.

Proof coins are minted in quantities of roughly 10% of the bullion coins produced in a given year.  These proof coins are stamped with a mintmark for authentication and are struck with specially designed dies that produce sharp features and a highly reflective mirrored background.  Those minted from 1986 to 1992 in San Francisco have an “S,” those minted from 1993 to 2000 in Philadelphia have a “P” and coins struck at West Point from 2001 to 2008 bear a “W.”  No proof coins are currently being stamped though the proof program may return at some point in the future.  These proof coins are considered more collectible and have a higher numismatic value than bullion coins though prices vary.  Typically proof coins range from $45 to $65 in price.  However, some sell for much more including the 1995-W proof that regularly brings more than $3,000.

The U.S. Mint also issued highly collectible uncirculated coins between 2006 and 2008.  They were produced at West Point and feature a W mintmark.  These rare coins were minted using burnished blanks which gives them a very unique look.  Known as “W burnished” or “W uncirculated” they bring $30 to $100 from collectors though some are bring a significantly higher price from collectors.

Serious collectors focus on coins that have been graded by a third party to verify authenticity and provide an opinion regarding the coin’s grade.  These are known as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) coins and come encased in a plastic holder.  The coins are graded 1 (lowest) to 70 (highest) with most uncirculated coins receiving a 65-70 and bringing a price well above their intrinsic value.  Raw coins may be submitted to a grading service through a registered coin dealer for valuation as well, and if given a high grade will become more collectible and bring a higher price if sold.

The value of any given coin can only be determined by having it graded.  However, price guides exist that offer a general idea of which year’s American Silver Eagles have the greatest demand and subsequent value.

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