A silver-coated copper alloy powder, which has a low volume resistivity and excellent storage stability (reliability), is produced by coating a copper alloy powder, which has a chemical composition comprising 1 to 50 wt % of at least one of nickel and zinc and the balance being copper and unavoidable impurities (preferably a copper alloy powder wherein a particle diameter (D50 diameter) corresponding to 50% of accumulation in cumulative distribution of the copper alloy powder, which is measured by a laser diffraction particle size analyzer, is 0.1 to 15 μm), with 7 to 50 wt % of a silver containing layer, preferably a layer of silver or an silver compound.