1986 American Silver Eagle

In 1986, the United States Mint launched the American Eagle program. The American Gold Eagle and American Silver Eagle were established as the nation’s first official bullion coins.

In this first production year, the Mint issued more than 5 million Silver Eagle coins, which led to high demand the following year as well.

Inaugural Issue

The 1986 Silver Eagle was the first year the series was minted. It was also the first .999 fine silver bullion coin produced by the US Mint designed for investment. The coin was released late in the year and was only sold for two months. The mintage for BU American Eagle in 1986 was relatively high with over over 5 million coins issued.

1986 American Silver Eagle Proof

It also marked the first year that Silver Eagle proofs were struck. American Silver Eagle proofs are marketed towards collectors. More than one-million proof Silver Eagle coins were sold in 1986.

Coin Highlights:

• 1^ST Mintage Year of the American Silver Eagle coin from the US Mint.
• 5,393,005 1986 Silver Eagle BU Coins Minted.
• 1,446,778 1986 Silver Eagle Proof Coins Minted.
• Contains 1 oz of .999 pure silver.
• Carries a face value of $1 (USD) and is backed by the US Government for purity, weight and quality.
• Features the iconic Walking Liberty design on the obverse.
• Includes a heraldic eagle design with shield and talons holding an olive branch and arrows.
• S mint marks on the proof coins from the San Francisco Mint.

With a mintage of almost 1.5 million coins, the 1986 Silver Eagle Proof is the largest Proof Silver Eagle mintage to date.

The obverse is Adolph A. Weinman’s Walking Liberty design from 1916, which was also featured on the Walking Liberty half-dollar coin. This is complemented with the reverse design of the heraldic eagle of the United States by then-Chief Engraver of the United States Mint, John Mercanti.

American Silver Eagle Minting Locations Timeline

The inaugural release of the American Silver Eagle coin was produced by the San Francisco Mint. The San Francisco mint struck both the BU and Proof Strikes of the coin. Bullion production remained at the San Francisco Mint until 1999, after which production shifted to West Point, with some bullion coins also produced at Philadelphia. The Philadelphia Mint began producing proof Silver Eagles in 1993.

Since 2001, the West Point Mint has been the primary mint for both proof and bullion Silver Eagles.

1986 – Inaugural Release:

• The American Silver Eagle was first introduced in 1986, with the San Francisco Mint initially handling both the bullion (uncirculated) and proof versions of the coin.

1986-1992 – San Francisco Mint Production:

• The San Francisco Mint struck both the bullion and proof versions from the coin’s launch in 1986 through 1992.

1993 – Proof Coin Production Moves to Philadelphia:

• Starting in 1993, the Philadelphia Mint took over proof coin production from San Francisco. The bullion version, however, continued to be produced at San Francisco.

1999 – Bullion Production Shifts to Philadelphia and West Point:

• In 1999, the West Point Mint became the primary producer of bullion American Silver Eagles. The Philadelphia Mint also produced some bullion coins, although West Point became the main production location.

2001 – West Point as Primary Mint for Bullion and Proof:

• By 2001, both the proof and bullion Silver Eagles were produced primarily at the West Point Mint, which remains the primary minting location to this day.