First released by the United States Mint on November 24, 1986, it is struck only in the one-troy ounce size which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver.

These bullion coins carry face values of $1. This is their legal value reflecting their issue and monetized value as coins. They are legal tender for all debts public and private at their $1 face value. This face value does not reflect their intrinsic value which is much greater and is mainly dictated by their troy weight and the current precious metal price.

The design on the coin's obverse was taken from the "Walking Liberty" design by Adolph A. Weinman which had originally been used on the Walking Liberty Half Dollar coin of the United States from 1916 to 1947. As this iconic design had been a public favorite - and indeed one of the most beloved designs of any United States coinage of modern times, silver or otherwise - it was revived for the Silver Eagle decades later.

The obverse is inscribed with the year of minting or issuance, the word LIBERTY, and the phrase IN GOD WE TRUST. The reverse portrays a heraldic eagle designed by John Mercanti. The reverse is inscribed with the phrases United States of America, 1 oz. Fine Silver~ One Dollar, and E Pluribus Unum, as well as the mintmark if applicable.