Explore the American Silver Eagle Coins with Bullion Mentor
The American silver Eagle coin from the United States Mint is the favorite pick for investors and collectors searching for silver. In 1985, the Liberty Coin Act authorized the United States Mint to produce a silver bullion coin, quickly introducing the highly coveted American silver Eagle coin in bullion and proof versions. Embark on your collection today and witness the rich history of the American silver Eagle unfold right before your eyes.
Designated as the official silver bullion coin of the United States, the American silver Eagle was minted by the US Mint. Introduced in 1986, both the American gold Eagle and the silver Eagle made their debut simultaneously. These coins are made of .999 pure silver bullion and are struck in the one-troy-ounce size, which is available for purchase. While the silver American Eagle holds a face value of USD 1 and is legal tender in the US, most are traded independently based on their silver content.
The American silver Eagle coin from the United States Mint is the favorite pick for investors and collectors searching for silver. In 1985, the Liberty Coin Act authorized the United States Mint to produce a silver bullion coin, quickly introducing the highly coveted American silver Eagle coin in bullion and proof versions. Embark on your collection today and witness the rich history of the American silver Eagle unfold right before your eyes.
Designated as the official silver bullion coin of the United States, the American silver Eagle was minted by the US Mint. Introduced in 1986, both the American gold Eagle and the silver Eagle made their debut simultaneously. These coins are made of .999 pure silver bullion and are struck in the one-troy-ounce size, which is available for purchase. While the silver American Eagle holds a face value of USD 1 and is legal tender in the US, most are traded independently based on their silver content.
About US Mint
The US Mint aims to serve the American people by producing and distributing collectible coins, national medals, and precious metal coinage and offering protection for entrusted property. Since establishing the organization in 1792, the Mint has taken great delight in telling the country's history through coinage. Grasping a coin or medal minted by the Mint is a way to establish a connection to the country's foundation and economy.
The Mint is in charge of circulating coinage so that the country can carry out its trade and commerce and is the only producer of legal tender coinage in the country. The Mint also produces coins-related products, such as Congressional gold Medals, proof, uncirculated, commemorative coins, and silver coins and gold bullion coins. The Mint's initiatives are financially independent and run at no expense to the general public.
History of the American Silver Eagle
The US Mint supports issuing the American silver Eagle coin, the nation's official silver bullion coin. A numismatic legacy was established in 1986 with the introduction of the first American silver Eagle coin. This coin's obverse side features the recognizable 1986 date stamp, signifying its historical significance. The federal government backs it with a face value of one dollar (USD).
Coin collectors and investors have three alternatives: burnished, proof, and uncirculated (bullion) coins. The proof coin debuted in 1986 alongside its uncirculated counterpart, while the bullion coin has been available continuously since its creation.
Design of the American Silver Eagle
Admire the classic American silver Eagle design crafted by Adolph A. Weinman and John Mercanti, which embodies a wealth of history and enduring charm. The front features Weinman's iconic Walking Liberty design used for the Walking Liberty Half Dollar between 1916 and 1947. John Mercanti's reverse design, from 1986 to 2021, depicts a grand heraldic eagle grasping an olive branch and arrows, symbolizing power, peace, and the original thirteen colonies.
In 2021, the United States Mint introduced new reverse designs for its program's 35th anniversary. The designs were created by Emily Damstra, an AIP Designer, and sculpted by Michael Gaudioso, a Mint Medallic Artist. The updated design showcases a majestic eagle in the act of descending with an oak branch, which represents growth and freedom.
Mintage of American Silver Eagle Coins
The US Mint applies distinct minting methods for producing different versions of coins, including burnished, proof, and uncirculated variants. Under the Liberty Coin Act of 1985, the US Mint must meet the demand for the uncirculated coin version within the specific guidelines. The need for the investment-grade coin determines the mintage of American silver Eagle bullion coins. The first two years of the program's availability contributed significantly to the highest mintage figures for the program's first 20 years. Still, the Great Recession caused the American Silver Eagle to surge in value. The number of silver Eagle coins produced in a year, 47 million, peaked in 2015.
The proof and burnished versions of the coin have distinct mintages. Initially, there were mintage restrictions on the Proof Silver Eagle, but it was rare for it to sell out entirely in a single year. The US Mint eventually stopped using mintage caps to satisfy collector demand and started striking the coins. Nevertheless, the Proof Silver Eagle has never matched the purity of the uncirculated coin. The 1.4 million Proof American Silver Eagles sold upon the coin's introduction in 1986 remain the highest mintage number.
The lowest mintage figures in the collection distinguish the burnished version of the American Silver Eagle. The US Mint does not artificially limit the number of coins produced but instead strikes them to satisfy the demand from collectors interested in the Burnished Silver Eagle. Initially, the burnished coin was well-received, with a mintage of 612,000 in 2007, its second year of availability. Despite being suspended for two years in 2009-2010, its peak levels from 2006-2008 remain unsurpassed.
By May 22, 2023, the mintage of American Silver Eagle bullion coins had reached nearly four million.
IRA-Approved American Silver Eagle Coins
An individual retirement account (IRA) that accepts a certain kind of silver bullion coin as collateral is referred to as having "IRA-approved silver American Eagle coins" in this context. Here are some details regarding these coins:
Approved Status for IRA: Silver coins must meet specific conditions set by the IRS to be included in an IRA. Because they fulfill these criteria, silver American Eagle coins are permitted for use in IRAs. The coins must be regarded as legal tender in their nation of origin and produced with a minimum purity of .999 silver.Physical Specifications: The standard weight and diameter of the silver American Eagle coin are one troy ounce (31.1035 grams) and 40.6 millimeters, respectively. Since the coin has a complete ounce of silver, it is simple to determine its value using the current spot price of silver.Purchasing silver American Eagle coins authorized by the IRS has several possible advantages. Silver is commonly used as a hedge against inflation and unpredictable economic circumstances, initially viewed as a material possession. Second, you can benefit from retirement account tax advantages, like possible tax deferrals or tax-free growth, contingent on the type of IRA you have, as long as these coins match the standards for IRAs. Finally, silver American Eagles are comparatively simple to buy, sell, and exchange because of their widespread recognition and popularity.
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