It was introduced by the United States Mint in November 24, 1986 and its fame among silver coin collectors and silver dealers has never waned. Today, The American Silver Eagle is one of the most popular bullion coins all over the world.
Each Silver American Eagle coin is struck in 1 troy ounce of .999 fine silver and is 40.6 mm (about 1.6 inches) in diameter. This 1986 US coin has a legal tender with a face value of one dollar. The American Eagle Silver bullion coin is the only silver bullion whose weight and purity are guaranteed by the United States Government.
There are collectible American Eagle Silver proof and reverse proof coins, too. Silver American Eagle proof coins have a shiny mirror-like finish on the background and a frosted finish on the relief. On the contrary, the Silver Eagle reverse proof coins have a frosted background and a shiny relief.
The beautiful “Walking Liberty” feature on its obverse (front) is designed by the renowned sculptor Adolph A. Weinman. The American Silver Eagles were actually patterned after the older US silver coins called the Silver Half Dollars made in 1916 to 1947.
The reverse (back) of the Silver American eagle coin bears the design by John Mercanti. It shows a heraldic eagle with a shield and clutching an olive branch and a bunch of arrows on each of its talons.
An inverse pyramid of 13 stars is over the eagle’s head, and it is surrounded by the words: UNITED STATES OF AMERICA ‘1 OZ. FINE SILVER ~ ONE DOLLAR, like the other United States coins.
Recently, the American Eagle silver dollar coins are minted at West Point, hence they bear a “W” mintmark. Although, historically, the American Silver Eagle bullion coins were produced by the other branches of the US Mint: the Philadelphia mint (which has the “P” mintmark), and the San Francisco mint (with the “S” mintmark).
The American silver eagles are convenient and versatile ways to invest in silver without the bulk of the bullion bars. The Silver American Eagle coin is the only accepted bullion to fund Individual Retirement Account (IRA) making them ideal investments.
The prices of the Silver American Eagle bullion coins are determined by the spot price of silver plus a minimal mark up fee known as premiums.
Before you buy the beautiful Walking Liberty dollar bullion coins, always check a standard reference guide before buying them. Remember the adage: buy the book before you buy the coin!
Take note that there are two mint editions – the business strikes and the proof coins. The latter kind of US silver coins cost more. More recent mintage dates of the American silver eagle bullions are priced at around $23 a piece.
But earlier issues like the 1990 proofs can go as high as $100 per coin. Boxed sets of the Silver American Eagles are available, too.
The American Eagle Silver Bullion coin program is also warning investors and coin collectors of the rampant piracy of the Silver Eagle Coins. Circulated fake Silver American Eagle coins from China are invading the United States coin collecting market.
The fake American Silver Eagle coins can be detected because their dull finish and lighter weight. Potential Silver American Eagle coin investors and those who are into US silver coin collecting should go to a trusted coin dealer before making a purchase.