1986-S Silver American Eagle Proof 

The Administrations of Richard Nixon, Gerald Ford, and Ronald Reagan had plans to sell off silver from the massive Defense National Stockpile Center, which at the time exceeded 139 million ounces. However, these administrations were met with heavy resistance as many feared this massive sell-off would drive the price of silver down. Ultimately, they finally agreed that the federal government could use silver coins to liquidate the stockpile of silver and minimize any adverse effects on the price of silver.

On July 9, the Liberty Coin Act of 1985 was signed into law by President Ronald Reagan. However, it wasn't until October 29, 1986, that the first Silver American Eagles began to roll off the press. Although both the Mint-State and Proof 1986 Silver Eagle were struck at San Francisco, only the Proof Version bears the "S" San Francisco mintmark. 

Just over 1.4 million 1986-S Silver American Eagle Proofs were manufactured at the San Francisco Mint and sold to collectors for $21 each in purple velvet boxes. 



Today, the importance and overall collectibility of first-year issues cannot be overstated. From its inception, the 1986-S Silver American Eagle Proof has been extremely popular, and the series, as a whole, is one of the most widely collected silver series in American Numismatics. I believe the Silver American Eagle Proof coin series will continue to be one of the most popular coin series in the world for many years to come. Regardless of mintage, I believe the 1986-S is an essential issue in the set. 

The 1986-S Silver Eagle has one of the highest mintages in the entire series and is very easily found in Original Government Packaging and in PF69 with Deep and Ultra Cameo contrast. Flawless PF70 Ultra Cameo specimens have proven to be far more challenging to locate and command a strong premium given their strong demand. 

Certified Census Report
10/2022

PCGS

PCGS

NGC

NGC

PR69 DC

PR70 DC

PF69 UC

PF70 UC

25,246

9,576

50,523

6,750


  • Designer: Adolph A Weinman (obv) / John Mercanti (rev)
  • Mintage: 1,446,778
  • Weight: 31.10 Grams
  • Composition: .9993 Silver
  • Actual Silver Weight: 1.000 Ounce