The 1986 American Silver Eagle is a special coin because it was the very first year the series was minted.1 This “first year of issue” status gives it some added numismatic value above and beyond its silver content.
When you say “BU,” you’re referring to Brilliant Uncirculated condition. This means the coin has not been in circulation and retains its original mint luster. It is a common term used by dealers and collectors, though for grading purposes, it corresponds to a grade on the Sheldon scale from MS-60 to MS-70. Since the 1986 bullion coins were not sold in holders, it’s common to find them with some light marks, often referred to as “bag marks.”
The value of your 1986 BU American Silver Eagle is determined by a combination of two factors:
- The Spot Price of Silver: As with all silver bullion coins, the base value is the melt value of the silver it contains. The price of silver fluctuates daily, so this is your starting point. You can easily find the current spot price of silver online.
- The Numismatic Premium: This is the added value a coin has due to its collector interest, rarity, or condition. Since 1986 is the first year of issue, it commands a higher premium than most later-date bullion coins. The premium also depends on the specific grade.
Here’s a breakdown of the value range you can expect:
- Raw (non-graded) BU: If the coin is in a plastic flip or similar protective holder and not professionally graded, its value will be a few dollars over the spot price of silver. This is the most common way to find these coins. Expect a value in the range of $35 to $60, with the price often closer to the lower end unless it has exceptional eye appeal.
- Graded BU: If the coin has been professionally graded by a service like PCGS or NGC, its value can increase significantly.
- MS-69: A near-perfect coin with only minor flaws visible under magnification. A 1986 Silver Eagle in MS-69 can sell for $75 to $150 or more.
- MS-70: A perfect coin with no visible flaws, even under magnification. A 1986 Silver Eagle graded MS-70 is rare and highly sought after, with prices ranging from $300 to over $800 depending on the grading service and label.
In summary, for a standard 1986 Brilliant Uncirculated American Silver Eagle that is not professionally graded, its value will be a modest premium over the current spot price of silver. For the most accurate valuation, you should look at recent auction results for coins in a similar condition.
