The American Silver Eagle Coins: The Modern Icon of U.S. Bullion Collecting

First minted in 1986 with the United States silver eagle coin, which is the first legal tender of .999 pure silver, this coin was in circulation 30 years later, in 2016. The year was also a centennial of the Walking Liberty design that was made by Adolph A. Weinman in 1916 for the US half-dollar coinage. The intricate work of embarking on the details of this outstanding car makes it represent the American spirit. These coins are currently among the most sought-after silver bullion coins in circulation today. Hey, perfect-grade American Silver Eagle is one of the costliest things that a collector can buy at a time.

History of the American Silver Eagle Coin

The American Silver Eagle Coin is the official silver bullion coin of the United States and has an interesting history that commenced on November 24, 1986. It also marked the centennial of the Walking Liberty that Adolph A. Weinman designed in 1916 to be the Walk. Held on the United States half-dollar coin.

Making it legal tender under the Liberty Coin Act as part of the Coinage Act 1985, it has turned into an emblem of the American spirit and, therefore, a favorite to buy.

Minting History

The American Silver Eagle is a collectible silver dollar coin of the United States, minted and distributed by the United States Mint starting on November 24, 1986.

In contrast to the American Palladium Eagle, the American Silver Eagle is made from one troy ounce of 99.9% pure silver, and its content, its weight and its purity are backed by the government of the United States of America.

Also Read: The Liberty $10 Gold Coin (1838-1907)

Coinage Act of 1985

The Liberty Coin Act, which provided for the manufacture of the American Silver Eagle, was provided under the Coinage Act of 1985. This legislation enabled the Treasury to strike and circulate silver bullion coins, through which the government could offload the silver bars accumulated in its reserves.

Various Mint Locations

The American Silver Eagle has been produced at several facilities of the U. S. Mint; the facilities include the Philadelphia mint, the San Francisco mint, and the West Point Mint.

These places have been distinguished by the ‘S’ meaning San Francisco, ‘P’ meaning Philadelphia and ‘W’ meaning West Point.

Proof and Uncirculated Versions

Apart from the bullion type, two other types of the Silver Eagle have been made for collectors; they include the proof type and the uncirculated type of the same. Such versions may differ in appearance, have special surface treatments, and be produced in limited quantities.

Obverse and Reverse Design

The reverse shows the ‘Walking Liberty’ designed by Adolph A. Weinman, which was used on the half-dollar coins between 1916 and 1947.

The reverse side is an image of a heraldic eagle on a shield, which was designed by John Mercanti.

Distribution

Primary Market

The American Silver Eagle is mainly bought directly by wholesale distributors, who in turn market them in secondary markets such as dealers, collectors and investors. This makes the availability of the coins a guaranteed fact.

Special Sets and Programs

For many years, special sets and commemorative editions of the Silver Eagle were minted, the majority of which were made in cooperation with other coins. Among others, it has released anniversary sets, monster box sets, reverse Proof and other specialty mint sets.

International Distribution

The American Silver Eagle’s has found its market. Since the collectors’ demand has been high, distribution has been performed in European countries, other parts of Asia, and other areas.

Market Impact

It became one of the most sought-after international silver bullion coins ever minted in America. Wide availability, coupled with the guarantee of the U. S. government, has placed it among the most sought-after coins by coin collectors.

Value of American Silver Eagle Coins

The present cost of one American Silver Eagle one ounce is approximately $29.13; however, ranges of spot prices should be noted because they change with relative frequency.

The market price of American Silver Eagle coins has changed with time but has been increasing gradually.

In 1986, when the coin was made, it could be exchanged for about $5 in cash. Its value increased to over $40 by 2011, which was its maximum value ever.

It has since been reduced but remains a good buy for those who want to preserve their wealth with inflation.

Purity

Each American Silver Eagle coin is 99.99% pure silver. They are also legal currency in the United States but their face value  doesn’t seem to be proportional to their worth. This makes them ideal for coin collectors and this is the reason they are common in the market.

Here is a chart showing the value of American Silver Eagle coins over the years, according to the NGC:

YearValue (USD)

19865.00

199610.00

200615.00

201140.00

202329.13, prices subject to change

Another aspect that must not be overlooked is whether the prospective coin, the American Silver Eagle, is a Type 1 or a Type 2. Years of the American Silver Eagle can be bought on eBay for as little as $20 USD and up to $200 USD, as stated by PCGS.

As you can notice, the prices of the American Silver Eagle coins vary, but if the trend of the prices is analyzed, it is increasing. This is because of the following: the high demand for silver and gold coins, the lack of enough stock of American Silver Eagle coins and the ever-rising prices of silver and gold.

As you make plans to own American Silver Eagle coins, it is important that you look for information concerning them and the dangers associated with buying them. Silver is somewhat a very changeable and it is very sensitive to world market price swings.

Still, one should consider buying American Silver Eagle coins if one is looking for a long-term investment to preserve the value of the money in circulation.

FAQs