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.

1987-S American Silver Eagle - Proof

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.

1987 Silver Eagle - Bullion

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

1987 Silver Eagle Design

1987 Silver Eagles on eBay

1986 served as the inaugural year for the new American Silver Eagles series which have been struck annually ever since.

1986-S Silver Eagle - Proof

They were only authorized the year before as part of the Liberty Coin Act of 1985, approved by Congress in June of that year and signed into law by President Ronald Reagan on July 9, 1985.

Congress created the authorizing legislation in response to political pressure to decrease the national strategic stockpile of the precious metal silver held by the United States. Many felt that the sale of the federally-owned silver could help lower the national deficit.

That move, however, met with some resistance. Congressional delegates from silver-mining states were concerned that an influx of silver into the market would further depress its conditions.

To alleviate some of those concerns, Senator James A. McClure from Idaho had a proposal. Instead of selling the silver on the open market, the U.S. Mint would be required to strike and distribute silver-bearing coin produced from the silver stockpile. McClure’s idea gained ground and was eventually approved as the Liberty Coin Act.

Design details included in the Act were not too specific. It required the obverse (heads side) to contain a design "symbolic of Liberty" while the reverse (tails side) was to show an eagle. Thus, the US Mint returned to a highly popular design by Adolph A. Weinman used first on the 1916 Walking Liberty Half Dollar for the obverse. The reverse featured a new heraldic eagle design by John M. Mercanti.

1986 Silver Eagle - Bullion

Allowing for lead-time required by the U.S. Mint to produce the new coinage, the first American Silver Eagles were only made available to the public in the last few months of 1986. Despite the short window of availability, 5,393,005 of the bullion coins were sold for a small premium above the average spot price of the one ounce of silver contained within them. For reference, silver average $5.47 an ounce for the year 1986.

Even more impressive were the sales of the Proof Silver Eagles struck solely for collectors which tallied up 1,446,778 at an initial sale price of $21. The 1986 Proof Silver Eagles sold stand to this day as the record with the next closest year (2006) only attaining 1,092,477.

1986 Silver Eagle Mintages

1986 Silver Eagle Specifications

1986 Silver Eagle Design

1986 Silver Eagles on eBay