American Silver Eagle Coins
The American Silver Eagle was first released in 1986 as part of the American Eagle Bullion Program. This program was authorized by Congress in 1985 to produce gold and silver bullion coins with their weight, content, and purity guaranteed by the United States Government. Several years later, platinum coins were added to the program.
The design of the Silver Eagle is taken from the Walking Liberty Half Dollar. This coin was issued in the United States from 1917 to 1947. It was designed by Adolph A. Weinman and is considered to be one of the most beautiful US coin designs ever created. The reverse of the Silver Eagle was designed by John Mercanti. It features a Heraldic Eagle with Shield.
Purchasing Silver Eagle Coins
American Silver Eagle bullion coins are not sold directly to the public. Instead, the United States Mint sells the coins through a network of authorized bullion purchasers. These dealers are required to create a two way market with the public, both buying and selling Silver Eagle coins.
Coins are commonly purchased through several options. Bulk purchases can be made by buying so-called "Monster Boxes." These green boxes contain 25 tubes or 20-coin Silver Eagle rolls. As a bulk method, this usually yields the lowest premium per coin. More commonly coins are purchased in 20-coin rolls. The rolls have a distinctive green top depicting the seal of the United States Treasury. Coins can also be purchased individually. The premiums for purchasing coins individually are generally the highest.
Collecting Silver Eagle Coins
From the beginning of the series, Silver Eagles drew the attention of not only bullion investors but also coin collectors. Silver Eagles are often viewed as the modern equivalent of Silver Dollars, wince they are struck in silver and carry a $1 face value. Coin collectors can assemble the Silver Eagle series by obtaining one coin for each date. Some collectors assemble sets of high quality coins which are encapsulated and graded by services such as PCGS or NGC.
The United States Mint has also offered several versions of the coins, specifically for coin collectors. Since 1986, the US Mint has produced and sold Proof versions of the coins directly to the public. Special sets were also produced for collectors marking the 10th and 20th anniversary of the programs. Recently, the US Mint has produced collectible uncirculated versions of the coins which are struck on specially burnished blanks and carry a "W" mint mark.
Highlights
1986 - The first year of issue for the American Silver Eagle. The US Mint produced bullion coins for sale through its network of authorized purchasers. Proof coins were produced for coin collectors and sold directly to the public.
1995 - To celebrate the tenth anniversary of the American Eagle Bullion Coin Program, the United States Mint included a special 1995-W Proof Silver Eagle within the 1995 Proof Gold Eagle Set. Only 30,125 of the sets were sold, giving this silver eagle the lowest mintage of the series by far.
2006 - In celebration of the twentieth anniversary of the program, the US Mint produced a special three coin set which included a 2006-W Reverse Proof Silver Eagle. This is the first time this type of proof finish had been used on a US coin.
2008 - During 2008, world demand for precious metals caused a Silver Eagle shortage. Sales of coins were briefly suspended and for the majority of the year subject to allocation. The same year, the first variety of the series surfaced. The 2008-W Silver Eagle Reverse of 2007 coin was struck using reverse dies of the previous year.
Composition
The American Silver Eagle is the only silver bullion coin that has its weight, content, and purity guaranteed by the government of the United States.
Each American Silver Eagle coin is struck in .999 fine silver and has a weight of 1.000 Troy Ounce, yielding a silver content of 0.999 troy ounces. The balance of the coin's composition is copper, which is added to increase durability and help resist marring. The coins have a diameter of 1.598 inches and thickness of 0.117 inches.
