A silver-coated copper alloy powder obtained by coating a copper alloy powder having a composition which contains 1-50 mass% nickel and/or zinc, the remainder comprising copper and unavoidable impurities, with 7-50 mass% silver-containing layer (layer comprising silver or a silver compound) is reduced to individual particles, thereby obtaining a silver-coated copper alloy powder which has a tap density of 5 g/cm3 or greater and in which the proportion of the tap density to the true density is 55-70%.
