2002 American Silver Eagle

Every 2002 Silver Eagle version

A 2002 Silver Eagle is either bullion or a West Point proof. Bullion coins have no mint mark and normal satin luster and were sold to dealers in sealed boxes of 500, each holding 25 tubes of 20. The proof has a W on the reverse beside the eagle's tail and shows bright mirrors with frosted Liberty and eagle. Burnished coins didn't exist yet; that finish arrived in 2006. If your coin looks matte or satiny and has a W, double-check the date, because it can't be a 2002. Proofs came one to a case with a certificate.

Quick answers

How much silver is in a 2002 Silver Eagle?

Each coin contains its stated weight of pure silver: one troy ounce in the $1 coin. The alloy is 99.9% silver.

How many 2002 Silver Eagles were made?

10,539,026 one ounce bullion coins plus 647,342 collector versions (proof, burnished and special finishes).

Is the 2002 Silver Eagle worth more than its silver?

The bullion coin trades close to its metal value plus a dealer premium. Collector versions in their original packaging bring a small premium.

Is the Silver Eagle legal tender?

Yes. Each size carries a face value ($1), but nobody spends them: the silver is worth far more than the face value.

2002 Silver Eagle by the numbers

The Mint sold 10,539,026 one ounce bullion Silver Eagles dated 2002. That ranks 20th lowest of the 39 bullion dates from 1986 to 2024.

Against the dates around it, 2002 bullion sales were 1.2 times the 2001 figure and 1.2 times the 2003 figure.

Collector versions dated 2002 add up to 647,342 coins across 1 version. The scarcest is the 2002-W proof at 647,342.

What to check on yours

• Weigh and measure it. A genuine one ounce Silver Eagle weighs 31.103 g and measures 40.6 mm. Fakes are usually the wrong weight or the wrong thickness.
• Try a magnet. Silver is not magnetic, so a coin that sticks is not genuine. A coin that does not stick still needs the other checks.
• Look for the mint mark. Bullion strikes have none; proofs and burnished coins carry a small letter. A mirror field with frosted design means a proof, a soft satin look means burnished.
• Handle it by the edge and never clean it. Fingerprints, wiping and polishing leave marks that cost collector versions much of their premium.
• Keep the original capsule, box and certificate with collector versions. Coins that come with them are easier to sell and more likely to bring their full premium.

The 2002 bullion coin trades at metal value except at the top of the grading scale. The 2002-W proof has the lowest W proof mintage of the decade, which gives it a small premium a little firmer than its neighbors. In practice the difference is modest, since 647,342 coins is still plenty. Look for a coin with no spots and keep it with its case and certificate. Graded examples in the very top grade draw the most collector interest. Spotted coins sell close to metal value.

West Point proofs and new finishes (2001 to 2008)

From 2001 the West Point Mint took over proof production and the W mint mark became standard on collector Silver Eagles. Proof sales climbed, apart from a dip in 2002, from 746,398 in 2001 to more than 800,000 a year by the middle of the decade. Proofs from these years usually come in their original capsule and case, which collectors prefer to keep. Around the same time the stockpile silver that had fed the program since 1986 ran out and the Mint switched to buying its silver on the open market.

The 20th anniversary in 2006 brought the biggest change yet in what collectors could buy. A three-coin set paired the regular W proof with two new finishes: the first reverse proof, struck at Philadelphia, plus the first burnished uncirculated coin, struck at West Point on specially treated blanks. The burnished W coin was also sold on its own and stayed in the lineup for 2007 and 2008. For the first time a collector could buy three distinct finishes of the same coin in a single year.

Bullion sales hovered between eight and ten million a year until the financial crisis of 2008 sent demand soaring to 20,583,000 coins, roughly double the year before. The rush strained supply of blanks and would shape what the Mint offered the following year. A die variety from 2008, burnished coins struck with the previous year's reverse, closes this era as one of its most sought-after pieces. It came about because the reverse design was slightly revised for 2008 and a few old dies stayed in use.

Mintage chart

Specifications

Frequently asked questions