The described item is a collectible coin produced by the United States Mint. Specifically, it is a special version, distinguished by a highly polished finish achieved through a meticulous minting process, of a bullion coin composed of .999 fine silver. The year of production holds significance, marking an early issue in the series.
Its importance stems from a confluence of factors. The silver content contributes to its intrinsic value, while its condition and limited mintage relative to bullion versions enhance its collectibility. Furthermore, its age places it within a period when interest in collecting these coins was growing, imbuing it with historical context and increasing its appeal to numismatists. The superior strike and mirrored fields render a visual appeal exceeding that of standard-issue bullion coins.