American Silver Eagle coins are a cornerstone of many collections and precious metals investment portfolios. US Mint has produced These bullion coins in large quantities each year since 1986. Many new collectors ask, what are the Key Dates for American Silver Eagle coins?
For the most part, bullion Silver Eagles are worth a slight premium over the spot price.
However, some mintages and variations are far less common than others. To collectors, some of these American Silver Eagle key dates are highly sought after and can command a very high premium.
1986 Silver Eagle
The 1986 Silver Eagle was the first of this series produced by the US Mint. In its first year, almost 5.4 million bullion coins and nearly 1.5 million proof Silver Eagles were minted.
Compare that to more recent mintages, such as 2015, when 47 million coins were minted.
As the first coin in the series with a relatively limited mintage, the 1986 Silver Eagle is highly collectible. In well-preserved condition, this coin commands a premium over spot price, making it a quintessential coin for collectors of Silver Eagle coins.
Uncirculated 1986 Silver Eagles can usually be found for around double the current spot price. Specimens graded by NGC or PCGS in the MS69 or MS70 grades can sell for hundreds of dollars.
Proof coins that include the original mint-issued box and certificate of authenticity (COA) or with a high grade can command even higher premiums.
1994 Silver Eagle
The 1994 Silver Eagle mintage was the lowest to date since the series’ introduction. Only around 4.2 million bullion coins were produced, and only around 372,000 proof coins were issued.
The coins from this mintage year tend to command premiums similar to those of 1986 due to their rarity. The quality of many of the coins this year has been known to contain milk spots and other imperfections.
1996 Silver Eagle
Production problems arose during the 1996 minting of Silver Eagles. This has been the lowest production year in the American Silver Eagle series, with only around 3.6 million bullion coins produced during the entire year.
Milk spots and other imperfections were common. According to the NGC Census, only 334 1996 Silver Eagle coins graded as MS70 exist. Those coins sell for thousands of dollars each at auction.
1995 W Proof Silver Eagle
The 1995 W Proof Silver Eagle was only included as part of a special release and has the lowest mintage of all Silver Eagles to date. The set was issued as a 10-year anniversary collection comprised of the four Proof Gold Eagle denominations along with Silver Eagle Proof.
Each coin in this unique set featured the W mint mark. The mint had planned to produce only 45,000 sets in total. However, sales were unexpectedly low, and only 30,125 units were sold.
The 1995 W Silver Eagle Proof is arguably the rarest coin of the series and is most sought after by serious collectors. Only 373 have a PCGS grade of MS70. In 2013, one of these coins set an auction record of nearly $87,000, one of the highest prices ever paid for a modern coin.