What is the American Silver Eagle

The American Silver Eagle is an investment-grade silver coin issued by the US Mint. Each American Silver Eagle coin is guaranteed by the US Mint to contain 1 troy ounce of .999 fine silver. These coins also have a $1 face value, which makes these coins legal tender. While it's possible to spend them at face value, the true value lies in the silver content.

Why Does the US Mint Issue Silver Bullion Coins?

During the 1970s, the country faced ongoing economic hardships that led to high inflation that persisted into the early 1980s. Millions of hard working Americans struggled and lost their savings due to prices rising because of inflation.

Congress passed a law that required the US Mint to issue gold and silver bullion coins beginning in 1986. The purpose of the Silver Eagle is to provide investors with a trusted tangible, physical asset that can be used to protect their savings from being eaten away by inflation.

What is the history of the Silver Eagle?

The 1 oz American Silver Eagle coin was first minted in 1986. The number of coins minted each year varies based on demand for investors.

Inflation has been a persistent problem since the pandemic, which has led to high demand. Last year, the mint sold almost 25 million coins and sales this year are likely to exceed that.

The silver used for minting the early Silver Eagle coins was pulled from Cold War Era strategic military stockpiles of silver.

The original stockpile of silver was depleted decades ago, and the coins are now minted with silver that is sourced, mined and refined in the United States.

What is the Design of the American Silver Eagle?

The obverse of the coin features Adolph A. Weinman's iconic "Walking Liberty" design, originally used on the Walking Liberty Half Dollar from 1916 to 1947.

Lady Liberty is depicted striding toward the rising sun, draped in the American flag. Her right hand is extended in a gesture of hope and freedom, while her left hand holds branches of laurel and oak, symbolizing civil and military glory.

The background includes the sun rising over a mountainous horizon, symbolizing a new day and the promise of a brighter future.

The obverse bears the inscriptions "LIBERTY" across the top, "IN GOD WE TRUST" to the right, and the year of issue at the bottom.

The reverse of the coin, until 2021, features John Mercanti's heraldic eagle design. This design includes a majestic bald eagle with outstretched wings, holding an olive branch in its right talon and arrows in its left, symbolizing peace and strength.

A shield is positioned in front of the eagle, representing protection and defense. Above the eagle's head, thirteen stars are arranged in a triangular pattern, representing the original thirteen colonies.

Starting in 2021, the U.S. Mint introduced a new reverse design by Emily Damstra. This new design features a more naturalistic depiction of an eagle coming in for a landing, carrying an oak branch in its talons, symbolizing strength and endurance.

The reverse of both versions of the coin contain inscriptions that read "UNITED STATES OF AMERICA," "ONE DOLLAR," "1 OZ. FINE SILVER," and "E PLURIBUS UNUM."

What are the specifications of the 1 oz American Silver Eagle?

The edge of the American Silver Eagle is reeded, featuring a series of vertical grooves running around the coin's circumference. This design element helps deter counterfeiting and makes the coin easier to handle.

1. Diameter: 40.6 mm (1.598 inches)

2. Thickness: 2.98 mm (0.1173 inches)

3. Weight: 1 troy ounce (31.1035 grams)

4. Purity: 99.9% silver

When did the US Mint Begin Minting Silver Coins?

The first silver coins were produced by the U.S. Mint in 1792 and helped establish the economy of the new nation.

The first coins were minted with an alloy that was 90% silver and 10% copper. This mixture of metals was common during that era and helped the coins endure the rigors of circulation that was the standard for nearly all U.S. silver coins from 1794 until 1964.

The mint began the switch to cupro alloy coins in 1965 due to rising prices of silver in the commodities market, largely due to its use in consumer photography which began to explode during that time.

The mint stopped the production of silver coins for circulation in the 1970s. However, 90% silver proof coins were still issued for collectors during this period.

Where Can I Buy American Silver Eagle Coins?

The US Mint does not sell investment coins directly. American Eagle Silver Coins can only be bought through retailers and bullion dealers.

Recently, Costco began offering mint sealed Tubes of American Silver Eagles on their website through flash sales with pricing that beats most dealers.

However, the inventory that Costco has usually sells out within a few hours, and the timing of the offerings is unpredictable.

Most investors buy silver eagles from online bullion dealers that specialize in trading precious metals. There are hundreds of online dealers throughout the country.

There are even some websites that make it easy to compare American Silver Eagle prices from an assortment of established and well vetted dealers like APMEX, JM Bullion and SD Bullion and dozens of others.

The prices are competitive and are based on the spot price of silver. Prices change frequently because silver is traded as a commodity in global markets.

Are Silver Eagles a Good Investment?

Gold and Silver have been used as money for millennia. They aren't considered a traditional investment like stocks, bonds or crypto.

Precious metals are regarded as a store of value. American Silver Eagles are a physical asset that is tangible, holds intrinsic value based on its use to industries, and is very liquid.

Are Silver Eagles Easy to Sell?

Unlike other tangible assets, American Silver Eagles are easy to sell and can be traded for cash via local bullion dealers, coin shops, refineries and other precious metals brokers.

For investors, there is a large secondary market for precious metals where Silver Eagles are easily bought, sold and traded.

Since coins have a history of being made from precious metals, most local coin shops are also brokers of precious metals.

Some brokers will pay cash on the spot, others may issue a check or ACH payment.

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