The item in question is a bullion coin produced by the United States Mint. Struck from .999 fine silver, it carries a face value of one dollar and is widely recognized as a symbol of American coinage. Examples of this specific year are sought after by collectors and investors alike.
Its significance stems from its silver content, its status as legal tender, and its collectibility. The coin provides a tangible asset in a diversified portfolio. Furthermore, it represents a specific year in a series of coins, offering historical context and numismatic value. The intrinsic worth of the silver, combined with potential appreciation as a collectible, makes it a desirable holding.