Marking only the second year of the American Eagle series and as dictated by the Liberty Coin Act of 1985, the United States Mint issued 1987 American Silver Eagles.
These coins are each minted from one ounce of .999 fine silver to a diameter of 1.598 inches.
The Silver Eagles were produced by the U.S. Mint in both bullion and collector proof versions during the year. The bullion mintage for 1987 was more than twice the amount produced in 1986, standing at 11,442,335 — but for an understandable reason.
In 1986 (the inaugural year for the coins), the eagles were only sold in the last three months of the year, whereas they were available for almost all of 1987.
1987 year stood in the record books for 20 years as the best annual sales for the bullion series. It was 2008 before that record was shattered as investors and collectors turned to the coins during the tough economic conditions of the time. However, that record would not last, and was smashed again in 2009 by unprecedented demand.
While the Mint does not publish a monthly sales level for the 1987-S Proof Silver Eagles it sold to directly to collectors, it does for the bullion versions it sold to its authorized dealers, as shown in the following mintage / sales table:
1987 Bullion Silver Eagles Sold
The proof Silver Eagle mintage, conversely, dropped drastically in 1987 as compared to the previous year.
Once again, this is not surprising. Proof coins are struck for numismatic reasons. Coin collectors tend to get excited most during the first year of a brand new coin series.
Still, 1987 manages to rank in the top five best years for the coins in their first quarter century availability.
The 1987 Proof Silver Eagles were sold by the Mint for $23 a piece. The average value of the silver they contained in 1987 was $7.01 an ounce.
1987 Silver Eagle Mintages
1987 Silver Eagle Specifications
|Weight:||31.101 grams (1.000 ounces)|
|Diameter:||1.598 inches (40.60 mm)|
|Thickness:||0.117 inches (2.98 mm)|
|Composition:||99.93% silver, 0.07% copper|
1987 Silver Eagle Design
|Mint Mark:||Bullion – None, Proof – ‘S’|
|Obverse Designer:||Adolph A. Weinman|
|Reverse Designer:||John Mercanti|