The silver price is based in troy ounces and that means we're going to multiply the metal price by .0321507466 to make the conversion to grams. The U.S. Mint specifications list Silver Eagles as exactly 31.103 grams.
$22.4775 is the rounded silver value for the 1986-2013 silver eagle on February 26, 2024. However, these coins will carry a premium that can range anywhere from $2.50 to $8.00 depending on the volatilty of the silver market.
Why isn't the melt value exactly $22.50 since this is the live silver price? Blame math. Obviously, when you multiply the non-whole numbers like 31.1034768 grams and .999 (stated purity), you'll receive a result like $22.4775000035. Does this mean the Mint is wrong with their specification? No, not exactly. Many times, silver eagles weigh a little more than 31.1034768 grams. The short video below does a good job illustrating the slight weight difference.
← Calculate coin worth using your own quantity and silver price values.
SILVER EAGLE MINTAGES
The "Year" column lists the year and mint mark on the coin -- D is for Denver, S is for San Francisco, W is for West Point, and P is for Philadelphia. A coin without a mint mark usually means it was also minted in Philadelphia, but that is not the case for Silver Eagles. The "Mintage" column is the number of coins struck and released by the U.S. Mint. The "Numismatic Value Range" column represents what people typically pay for that type of coin (usually a very wide price range depending on the condition).
If you're interested in learning more about grading coins, Photograde is an excellent resource.
EBAY AUCTIONS - SILVER EAGLES ONLY
I believe that the old saying, "A coin is only worth what someone will pay for it," is absolutely true. I prefer eBay because it displays what people are actually paying for coins. Monthly coin price magazines and online price lists may not reflect current market conditions because they don't demonstrate what people are actually willing to pay.