There is provided a silver-coated copper powder, which has excellent storage stability (reliability), and a method for producing the same. A silver-coated copper powder obtained by coating the surface of a copper powder, which is obtained by the atomizing method or the like, with 5 wt % or more (with respect to the silver-coated copper powder) of a silver containing layer of silver or a silver compound, is added to a gold plating solution, which is a potassium gold cyanide solution (to which at least one of tripotassium citrate monohydrate, anhydrous citric acid and L-aspartic acid is preferably added), to cause 0.01 wt % or more (with respect to the silver-coated copper powder) of gold to be supported on the surface of the copper powder coated with the silver containing layer.