1986 Silver Eagle – Impaired

In the waning days of October 1986, a momentous event unfolded at the United States Assay Office in San Francisco. Treasury Secretary James Baker, standing before a gleaming Coin Press 105, initiated the striking of the very first American Silver Eagle. This wasn't just the birth of a coin; it was the dawn of a new era in American numismatics and precious metal investing.

The Silver Eagle's inception was rooted in a confluence of economic and political factors. The U.S. government, sitting on a vast stockpile of silver from the defunct strategic reserve, sought a way to divest this precious metal responsibly. Simultaneously, there was a growing demand for a pure silver bullion coin that could compete with global offerings like the Canadian Maple Leaf and the South African Krugerrand.

The Liberty Coin Act of 1985 provided the legislative framework for this new silver dollar. It mandated the creation of a coin containing one troy ounce of 99.9% pure silver, setting a new standard for purity in U.S. coinage. The Act also specified that the obverse should feature a design symbolic of Liberty, while the reverse would showcase an eagle.

For the obverse, the U.S. Mint reached back into its rich artistic heritage, selecting Adolph A. Weinman's iconic "Walking Liberty" design. Originally gracing the half dollar from 1916 to 1947, this masterpiece of numismatic art depicts Lady Liberty striding confidently towards the dawn, draped in the American flag, her arms laden with laurel and oak branches symbolizing civil and military glory.

The reverse, a new creation by then-Chief Engraver of the U.S. Mint John Mercanti, presents a heraldic eagle behind a shield, grasping an olive branch and arrows in its talons. This powerful image, reminiscent of the Great Seal of the United States, balances the grace of Weinman's obverse with strength and majesty.

As 1986 drew to a close, the first Silver Eagles began to circulate. They entered a world still reeling from the Challenger disaster, still grappling with the aftermath of Chernobyl, and marveling at the return of Halley's Comet. Against this backdrop of triumph and tragedy, the Silver Eagle emerged as a tangible piece of Americana, a store of value, and a canvas for numismatic art.

Design Features

The obverse of the 1986 Silver Eagle showcases Adolph A. Weinman's breathtaking "Walking Liberty" design. Lady Liberty strides purposefully towards the rising sun, her figure draped in the folds of the American flag. Her right arm reaches forward, palm open in a gesture of invitation, while her left arm cradles branches of laurel and oak. The word "LIBERTY" arches prominently above her, while the phrase "IN GOD WE TRUST" is nestled to her right. The date, 1986, sits at the bottom, marking this coin's special place as the inaugural issue.

On the reverse, John Mercanti's heraldic eagle commands attention. The bird's wings are spread wide, its breast protected by a shield emblazoned with stars and stripes. In its beak, it holds a banner proclaiming "E PLURIBUS UNUM." The eagle's right talon grasps an olive branch, symbolizing peace, while arrows in its left talon represent readiness to defend. Arching above are thirteen stars, representing the original colonies, while "UNITED STATES OF AMERICA" and "1 OZ. FINE SILVER~ONE DOLLAR" encircle the design, affirming the coin's origin and specifications.

Product Highlights

• Metal Type: SILVER – Hedge
• Purity: 0.999
• Weight: 1 oz
• Manufacturer: United States Mint
• Obverse: Adolph A. Weinman's "Walking Liberty" design
• Reverse: Heraldic eagle design by John Mercanti

Investment Appeal

The 1986 Silver Eagle, even in impaired condition, holds a unique place in the hearts of collectors and investors alike. As the inaugural issue of what would become America's premier silver bullion series, it carries historical significance that transcends its physical condition. Its 99.9% pure silver content ensures intrinsic value, while its status as legal tender provides an additional layer of security.

For numismatists, this coin represents the beginning of a new chapter in American coinage. It bridges the gap between classic designs and modern bullion, making it a must-have for comprehensive collections. Investors appreciate the Silver Eagle's global recognition and liquidity, which often allow it to command a premium over generic silver rounds.

The impaired condition, far from being a deterrent, can make this coin more accessible to a broader range of collectors and investors. It offers an opportunity to own a piece of numismatic history without the premium associated with perfect specimens. Moreover, as the series continues to gain popularity, even impaired early issues like the 1986 may see increased demand from those looking to complete date runs.

In essence, the 1986 Silver Eagle is more than just a silver coin; it's a tangible connection to a pivotal moment in U.S. Mint history, a testament to enduring artistry, and a solid foundation for any precious metal portfolio. Whether you're a seasoned numismatist or a newcomer to silver investing, this coin offers a unique blend of historical significance, artistic beauty, and intrinsic value.