Silver Eagles

2012 Silver Eagle

2012-02-22T13:11:25Z

The United States Mint will start accepting orders for the 2012 Silver Eagle bullion coins from authorized purchasers on January 3, 2012. Most dealers are expecting that the coins will be available for delivery to collectors by the second week of January.

In recent years, there has been incredible demand for the one ounce bullion Silver Eagle coins, leading to record annual sales for the past four consecutive years. During 2009 and 2010, the unprecedented demand levels led to periodic sales suspensions and extended periods of rationing, as the US Mint struggled to produce sufficient numbers of coins. In 2011, the US Mint was able to acquire greater numbers of planchets from suppliers and also temporarily expand production to the San Francisco Mint, leading to increased production levels. The total annual sales for 2011 are expected to exceed 40 million.

This year, the coins may continue to experience strong demand. During 2011, the market price of silver had risen to nearly $50 per ounce, before a series of sharp declines brought the price back below $30 per ounce. The lower prices may support continued demand in the coming year, for those focused on longer term appreciation.

The US Mint is expected to offer the 2012 Proof Silver Eagle later in the year. These coins carry the same design as the bullion versions but are struck in high quality proof. The specialized minting process involves specially prepared dies and planchets, which are struck multiple times to bring up the full details of the design in cameo appearance. Recently, the proof Silver Eagles have been offered without a stated maximum mintage, but sold out prior to the conclusion of the year.

An additional 2012-W Uncirculated Silver Eagle will also be offered for sale by the US Mint. This is a additional numismatic version of the coin, struck on specially burnished blanks and carrying the “W” mint mark. This version of the coin has typically experienced a much lower mintage than the proof version, potentially creating longer term numismatic value.

The US Mint has also announced plans to release a 2012-S Uncirculated Silver Eagle. In the previous year, a collectible uncirculated version of the coin with the “S” mint mark was included in a special anniversary set. For this year, the coin may be offered individually, or within another special edition set with a limited mintage.

2012 Silver Eagle Mintages

Bullion Mintage: TBD
Proof Mintage: TBD
Uncirculated (Burnished) Mintage: TBD

2012 Silver Eagle Specifications

Mint Mark: none (bullion), W (proof, uncirculated), S (uncirculated)
Designers: Adolph A. Weinman (obverse), John Mercanti (reverse)
Composition: 99.93% silver, 0.07% copper
Weight: 31.101 grams (1.000 ounces)
Diameter: 40.6 mm (1.598 inches)
Thickness: 2.98 mm (0.117 inches)
Edge: Reeded

25th Anniversary Silver Eagle Set

2012-02-22T13:11:06Z

The United States Mint released the 25th Anniversary American Silver Eagle Set on October 27, 2011 to celebrate this important milestone for the program. The product generated a great deal of excitement with collectors due to the limited production of 100,000 units and the inclusion of two coins that are unique to the set.

At the Chicago ANA World’s Fair of Money held from August 16-20, 2011, the Deputy Director of the Mint announced the intention to create a special set to commemorate the 25th anniversary of the American Eagle Coin Program. The set would include five Silver Eagles with different finishes and/or mint marks.

Three of the coins had previously been issued by the United States Mint through other channels. These included a proof version struck at the West Point Mint and carrying the “W” mint mark, an uncirculated version also struck at West Point and carrying the “W” mint mark, and a bullion version of the coin without a mint mark. Representatives from the US Mint later confirmed that the bullion coins were all struck at the San Francisco Mint, although this is not indicated on the certificate of authenticity.

Two coins were unique to the sets and not offered elsewhere, giving them an extremely low mintage of only 100,000 pieces. A 2011 Reverse Proof Silver Eagle was struck at the Philadelphia Mint. This coin features mirrored raised design elements and frosted fields, for the opposite effect of the traditional proof. A 2011-S Uncirculated Silver Eagle was struck at the San Francisco Mint. Until this point, all collectible uncirculated Silver Eagles had been struck at West Point.

An ordering limit of five sets per household was established by the United States Mint, which was likely too high. The sets went on sale October 27, 2011 at 12:00 Noon ET priced at $300 per set. A deluge of internet and phone orders resulted in a complete sell out in approximately 4.5 hours. Most customers ordered the maximum five sets and as soon as they began so ship in early November, a robust secondary market developed with sales prices more than double the original issue price.

Third party grading companies PCGS and NGC provided specific guidance for collectors submitting the sets. In order to have all five coins attributed to the anniversary sets, collectors had to submit the coins in the original sealed US Mint shipping boxes. This results in a premium for unopened shipping boxes. Top graded sets have sold for as much as twice the price of ungraded sets in the original government packaging.

25th Anniversary Silver Eagle Set Mintage

Five Coin Set: 100,000

25th Anniversary Silver Eagle Set Specifications

Mint Mark: W (proof & uncirculated coins), P (reverse proof coin), S (uncirculated coin), none (bullion coin)
Designers: Adolph A. Weinman (obverse), John Mercanti (reverse)
Composition: 99.93% silver, 0.07% copper
Weight: 31.101 grams (1.000 ounces)
Diameter: 40.6 mm (1.598 inches)
Thickness: 2.98 mm (0.117 inches)
Edge: Reeded

2011 Silver Eagle

2012-02-05T12:15:22Z

2011 American Silver Eagle

The United States Mint began accepting orders from authorized purchasers for the 2011 Silver Eagle on January 3, 2011. Sales of the annual one ounce silver bullion coin started in impressive fashion, with more than 6 million coins purchased in January. The elevated sales level has continued, with year to date annual sales already in record territory.

Amidst the continued high demand for Silver Eagles, the US Mint implemented several changes to the program to increase output. This included process improvements at the West Point Mint, an increased number of precious metals blanks suppliers, and additional production at the San Francisco Mint.

The later step was an unusual development, as the bullion version of the Silver Eagle had been produced exclusively at the West Point Mint for more than a decade. The major third party grading companies almost immediately announced that they would begin specially encapsulating 2011 Silver Eagles produced at the San Francisco Mint. Since these coins do not contain a mint mark or any other identification, the only way to receive the special encapsulation is by submitting a sealed Silver Eagle Monster Box with the proper identifying markings from the San Francisco Mint.

The 2011 Proof Silver Eagle was made available to collectors starting on July 15, 2011. Pricing for the offering was increased to $59.95 per coin, due to the higher market price of silver. An ordering limit of 100 coins per household was imposed for the first two weeks of sales. In early September, the price of the coin was increased to $68.45, but later decreased to $58.95, following the market price of silver. A sell out was achieved on November 22, 2011 with last reported sales of 850,000.

On September 15, 2011, the US Mint began sales of the 2011-W Uncirculated Silver Eagle, representing the return of the collectible product after a two year gap. As a result of legislation enacted near the end of the previous year, the US Mint gained greater flexibility in producing collector versions of the Silver Eagle, regardless of the level of bullion demand. The Uncirculated Silver Eagles are struck on specially burnished blanks and carry the “W” mint mark. The coins were initially priced at $60.45, but later reduced to $50.95.

To celebrate an important milestone for the program, the US Mint also offered the 25th Anniversary Silver Eagle Set. The special set was announced in August and contained five different Silver Eagles, including two versions which were not available through other products or offerings. Collector demand for the sets was intense, leading to a sell out of the 100,000 maximum production in about 4.5 hours.

2011 Silver Eagle Mintages

Bullion Mintage: TBD
Proof Mintage: 950,000
Uncirculated (Burnished) Mintage: TBD

2011 Silver Eagle Specifications

Mint Mark: none (bullion), W (proof, uncirculated)
Designers: Adolph A. Weinman (obverse), John Mercanti (reverse)
Composition: 99.93% silver, 0.07% copper
Weight: 31.101 grams (1.000 ounces)
Diameter: 40.6 mm (1.598 inches)
Thickness: 2.98 mm (0.117 inches)
Edge: Reeded

< 2010 Silver Eagle | 2012 Silver Eagle >

Proof Silver Eagles

2011-07-19T21:54:02Z

American Silver Eagle Proof Coin

Proof Silver Eagles have been issued each year from 1986 to 2008. Struck using specially prepared dies and featuring a cameo finish, these coins have been long time favorites of collectors. To the dismay of many, the coins were not issued during 2009 due to high demand for silver bullion coins. The prospect of issuing a 2010 Proof Silver Eagle remains tenuous. Although the status as an ongoing series has been threatened, the issues released in prior years are widely collected.

The Proof Silver Eagle has been minted at three different mint facilities over the years. The coins were first produced at the San Francisco Mint and carried the “S” mint mark from 1986 to 1992. From 1993 to 2000, production of the standard Proof Silver Eagles took place at the Philadelphia Mint and coins bore the “P” mint mark. Lastly, from 2001 to 2008, production took place at the West Point Mint with coins bearing the “W” mark.

At various times, the Proof American Silver Eagle has carried maximum production limits for each year. The first limit was imposed for the 1990 Proof Silver Eagle, at 700,000 coins. This entire amount was sold out, although following adjustments the final mintage was 695,510. The maximum mintage imposed varied in subsequent years. From 2005 onwards, a maximum was not imposed and the coins were struck to demand throughout the year of issuance.

Although primarily sold individually, there have been some Proof Silver Eagles included in specially issued US Mint products. The most famous is the 1995-W Proof Silver Eagle, which was included within the 10th Anniversary Gold Eagle Proof Set. This Silver Eagle differed from the regular proof issue since it carried the “W” mint mark, rather than “P”. The limited issuance of this coin led to the creation of a famous modern rarity. The 1993 Proof Silver Eagle was included in a special Philadelphia Mint Bicentennial Set, which also contained the $25, $10, and $5 Proof Gold Eagles. A few years later, the 1997 Proof Silver Eagle was included in the Impressions of Liberty Set issued for the start of the Platinum Eagle series.

Most recently, a proof and reverse proof Silver Eagle were included in 2006 20th Anniversary Silver Eagle Set. The proof coins matched the standard version, while the reverse proof coin featured frosted backgrounds and mirrored raised design elements and was produced at the Philadelphia Mint with the “P” mint mark.

Proof Silver Eagles For Sale

PCGS & NGC Silver Eagle Coins

2011-07-19T21:56:36Z

PCGS Silver Eagle

A popular way of assembling a collection of American Silver Eagles is by acquiring an example of each coin in the series that has been encapsulated and graded by a third party grading service such as PCGS or NGC. Collections can be assembled this way for the bullion versions of the coin or the collectible uncirculated and proof versions.

Third party grading services will generally examine a coin to verify its authenticity, provide an opinion on the coin’s grade and other attributes, and then encapsulate the coin in a small plastic holder. Although other services exist, the two most popular are Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC).

Coin grading is determined on a 70 point scale, with 1 being the lowest grade and 70 being the highest. For uncirculated or bullion Silver Eagles the highest grades awarded are PCGS MS70 and NGC MS 70. For Proof Silver Eagles, the highest grades awarded are PCGS PR70DCAM and NGC PF 70 Ultra Cameo. The designations “DCAM” and “Ultra Cameo” refer to the cameo finish which is used on modern proof coins.

Since Silver Eagles are never circulated, nearly all coins encountered will be in the higher grades from 65 to 70. For the most recent years, it is often the case that the vast majority of coins would grade 69 or 70. Earlier dates can be a challenge to find in top grades. There are some early dates in the series for which PCGS has not awarded the top grade to any coins evaluated.

In order to have coins encapsulated and graded by PCGS or NGC, collectors can submit raw coins through an authorized dealer. Both grading services now also offer collector’s clubs. By joining these clubs, collectors are allowed direct submission privileges to the grading services. Because of the large number of PCGS and NGC Silver Eagles which already exist, there is a robust secondary market whereby collectors can purchase coins already graded.

PCGS Silver Eagles For Sale

NGC Silver Eagles For Sale

2010 Silver Eagle

2011-10-20T14:42:18Z

2010 American Silver Eagle

The 2010 Silver Eagle was first available as a bullion coin on January 19, 2010. Although the status of collector versions of the coin were in doubt for much of the year, the US mint eventually confirmed the availability of the 2010 Proof Silver Eagle and began accepting orders on November 19, 2010.

The initial availability of the 2010 Silver Eagle bullion coins took place later than usual. Typically, coins bearing the forthcoming year’s date are produced in November or December of the preceding year. This allows authorized purchasers to place orders for the coins in December for delivery in the first week of January. Amidst a resurgence in demand for bullion coins, the US Mint continued production of 2009-dated coins through year end. This resulted in a delay of the full scale production of 2010-dated coins, pushing back the offering schedule.

For about eight months, the available supply of 2010 Silver Eagles remained short of meeting full public demand. As such the bullion coins remained subject to the US Mint’s allocation program until September 2, 2010. This program rationed the available supply of amongst the authorized purchaser network.

The end of the allocation program signaled hope for the collector versions of the coin. These offerings had been canceled in the previous year since the US Mint was required by law to produce bullion coins in quantities sufficient to meet public demand. Since full demand was not met, the Mint sourced all incoming precious metals blanks supplies to the production of bullion coins, foregoing production of collector coins, which were not legally mandated.

In early October, the US Mint confirmed the upcoming offering of 2010 Proof Silver Eagles starting on November 19, with the first coins shipping on December 1. The coins were priced at $45.95 each, with an ordering limit of 100 per household and with no maximum mintage specified. Following the cancellation of last year’s coin, initial orders for the coin were heavy, with more than 700,000 coins sold in two weeks. The Mint eventually removed the household ordering limit and the coins sold out shortly thereafter, with last reported sales of 860,000.

Unfortunately, the other collector version of the coin, the 2010-W Uncirculated Silver Eagle, was canceled for the second year in a row.

At the very end of the year, legislation was approved which allowed the production of collectible proof and uncirculated Silver Eagles, even if full demand for bullion coins remained unmet. This change in law should ensure the uninterrupted offering of collectible offerings going forward.

During 2010, the market price of silver ranged from a low of $15.14 per ounce to a high of $30.70 per ounce. After spending much of the year between $15 and $20 per ounce, the price broke about the $20 level in September and moved up steadily though the end of the year.

2010 Silver Eagle Mintages

Bullion Mintage: 34,764,500
Proof Mintage: 860,000*
Uncirculated (Burnished) Mintage: N/A
*last reported sales figure

2010 Silver Eagle Specifications

Mint Mark: none (bullion), W (proof)
Designers: Adolph A. Weinman (obverse), John Mercanti (reverse)
Composition: 99.93% silver, 0.07% copper
Weight: 31.101 grams (1.000 ounces)
Diameter: 40.6 mm (1.598 inches)
Thickness: 2.98 mm (0.117 inches)
Edge: Reeded

2010 Silver Eagles For Sale

< 2009 Silver Eagle | 2011 Silver Eagle >

2008-W Silver Eagle Reverse of 2007 Variety

2011-01-18T18:13:43Z

2008-W American Silver Eagle Reverse of 2007

For the first time in the American Silver Eagle series, a significant variety was released in 2008. This was known as the 2008-W Silver Eagle Reverse of 2007 Variety. The US Mint had slightly altered the reverse design between 2007 and 2008, and they inadvertently struck some 2008 coins with the 2007 reverse type.

The variety occurs on the 2008-W Uncirculated Silver Eagle. This is the collectible uncirculated or “burnished” version of the coin that the US Mint sold directly to collectors. The variety can be identified by examining two aspects of the reverse design. On the Reverse of 2007, the “U” in “United States” will be bowl shaped and the dash between the words “Silver” and “One” will be shaped like a tilde. On the reverse of 2008, the “U” will have a spur on the right side of the letter and the dash will be angled.

The Reverse of 2007 Variety is the scarcer version of the coin and carries a big premium. Shortly after the discovery of the coin, the US Mint estimated that approximately 47,000 of the variety may have been released. This estimate was based on the fact that West Point Mint employees found 15 dies with the reverse type of 2007.

Both PCGS and NGC attribute this variety as “Reverse of 2007″. Top graded examples of this important variety have been in strong demand since the initial discovery.

2008-W Silver Eagle Reverse of 2007 For Sale

Silver Eagle Green Monster Box

2011-07-19T21:58:22Z

American Silver Eagle Green Monster Box

Bulk silver investors may be familiar with the Silver Eagle Green Monster Box. With each box containing a total of 500 Silver Eagles, this is how investors or dealers typically purchase the coins in bulk quantities.

The American Silver Eagle bullion coins each contain one ounce of .999 pure silver. These are packaged into 20-coin rolls, which contain 20 ounces of silver. The Green Monster Box contains 25 of these rolls, for a total of 500 coins, or 500 ounces of silver.

As the name suggests, the boxes are green, heavy duty plastic, specifically created to hold the Silver Eagle Rolls. Twelve rolls fit on either side of the box with one roll in the center. The boxes are usually sealed with strapping across both lengths with a control sticker indicating the year of mintage. The U.S. Treasury seal is on the outside of the box.

Sealed Silver Eagle Green Monster Boxes have the benefit of being unsearched and unhandled since leaving the United States Mint. Additionally, the cost per coin is usually the lowest available since the coins are being purchased in bulk. Not all coin dealers will have these boxes available, however bullion dealers typically offer them.

Silver Eagle Green Monster Boxes For Sale

1995-W Proof Silver Eagle

2011-07-19T22:00:13Z

1995-W Proof American Silver Eagle

The 1995-W Proof Silver Eagle is the key date coin of the series. The coin has a mintage of only 30,125 pieces, which is extraordinarily low for such a popular and widely collected modern series.

The coin was produced and sold only as part of the 10th Anniversary American Eagle Proof Set. This set included the four 1995-W Proof Gold Eagle coins in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz sizes, along with the 1995-W Proof Silver Eagle. This set was limited to 45,000 units and was originally priced at $999.00. During the period of availability from the United States Mint, a total of 30,125 sets were sold.

The US Mint did produce and sell a separate 1995 Proof Silver Eagle which was offered for $23.00, but this coin carried the “P” mint mark. This regular issue coin had a mintage of 407,822, which was typical for the coin at the time. Thus the proof issues for this year carrying the “P” mint mark are more common, while the coins bearing the “W” mint mark are scarce and valuable.

The 1995-W Proof Silver Eagle emerged as a fortuitous rarity for anyone who purchased the 10th Anniversary Set. The key date Silver Eagle sells for about $3,000 currently. This is actually more than the current value for the other four gold coins originally included in the set.

1995-W Proof Silver Eagles For Sale

2009 Silver Eagle

2011-10-20T14:14:16Z

2009 American Silver Eagle

The 2009 Silver Eagle saw a carryover of some of the problems and issues that impacted the popular silver coin series in the prior year. High worldwide demand for precious metals bullion coins caused a continuing silver blank shortage for the United States Mint, impacting both bullion and collector offerings.

The bullion coins continued to be subject to rationing to start the year under the previously established allocation program. Authorized purchasers of the coins were limited in the number that they were able to purchase. The rationing finally ended on June 15, when the US Mint was able to meet full demand for the coins. Unfortunately, a new round of demand caused a brief suspension of bullion coin sales starting November 25. When sales resumed, the allocation program was put back into effect.

Because of the legal obligation to fulfill public demand for the bullion Silver Eagles, the US Mint was forced to cancel the issuance of the 2009 Proof Silver Eagle and the 2009-W Uncirculated Silver Eagle. These collectible offerings were not legally mandated, so the US Mint was forced to interrupt these series of collectible coins until they can meet full demand for bullion coins.

While collectible coins were canceled, brisk sales of bullion coins ensued, leading to the record high mintage of 30,459,000 for the 2009 Silver Eagle. This amount would be exceeded in subsequent years.

During 2009, the price of silver ranged from a low of $10.51 per ounce to a high of $19.18 per ounce. The cumulative average price for the year was $14.67.

2009 Silver Eagle Mintages

Bullion Mintage: 30,459,000
Proof Mintage: not minted
Uncirculated (Burnished) Mintage: not minted

2009 Silver Eagle Specifications

Mint Mark: none (bullion)
Designers: Adolph A. Weinman (obverse), John Mercanti (reverse)
Composition: 99.93% silver, 0.07% copper
Weight: 31.101 grams (1.000 ounces)
Diameter: 40.6 mm (1.598 inches)
Thickness: 2.98 mm (0.117 inches)
Edge: Reeded

2009 Silver Eagles For Sale

< 2008 Silver Eagle | 2010 Silver Eagle >