Determining the actual value of a 1993 silver dollar, also known as the American Eagle, requires that the coin itself be professionally graded. Grading determines how close to its original mint state the coin is, providing an objective appraisal of its condition.
Coin values vary based on their grade, age and scarcity. In the case of American Eagles, which were first minted in 1986, their base value is also a function of their precious metal content, referred to as the melt value of the coin. Being composed of approximately 31 grams of silver, the melt value of an American Eagle is roughly valued at $19.92 according to August 8, 2014 silver prices. However, the value of the coin is augmented by its age and limited production numbers. This means that a well preserved example can be worth up to $25 as of August, 2014. Proof coins that have never been circulated are even less common and in better condition, which makes them more valuable. Silver American Eagle proof coins, of which there are approximately 400,000 in existence, were valued at approximately $91 as of August, 2014. Proof coins are identified by hard cases which are labeled as "Proof" for the benefit of collectors.