The American Silver Eagle coin is a trusted and iconic form of investing in physical silver, backed by the U.S. government for its purity and weight. Costco’s decision to sell these coins aligns with a growing consumer interest in precious metals as a means of wealth preservation.
While this move reflects certain economic sentiments—such as concerns about inflation and a desire for asset diversification—it is just one of many factors in the complex landscape of the global economy. The availability of silver coins at a major retailer makes precious metal investment more accessible but does not, on its own, signal a significant shift in economic direction.
Investors considering purchasing silver should:
Assess Personal Financial Goals: Determine how silver fits into their overall investment strategy.
Stay Informed: Keep abreast of economic indicators, market trends, and global events that influence precious metals.
Consult Financial Advisors: Seek professional advice to understand the risks and benefits associated with investing in physical silver.
The Silver Eagle coin has been available for more than 35 years from the United States Mint. More than 550 million Silver Eagle coins have been produced and sold over since their introduction in 1986. The US Mint continuously mints and releases new coins each year making the cheapest random year silver eagles for investors wanting to save on dealer premiums.
The popularity of the American Silver Eagle has led to significant minting figures, making it one of the most widely traded and collected silver bullion coins in the world. The annual mintages of Silver Eagle coins can vary based on market demand, economic conditions, and the availability of silver blanks for minting.
It’s become pretty indisputable that the economy is in the worst state that many Americans can remember since the 2008 financial crisis and the deep recession that followed.
As a result, investors are clamoring for gold and silver bullion like never before. Demand for government issued coins, like the American Silver Eagle and the Canadian Silver Maple Leaf have skyrocketed in recent weeks since the start of the banking crisis.
However, the US Mint continues to be slow and unable to meet demands, which has caused significant increases in recent weeks to a recent high of around 60% over spot price. Some dealers, such as APMEX and JM Bullion are currently showing premiums for silver eagles at over 88% above spot price.
The US Mint outsources the manufacturing of planchets, which are coin blanks that are pressed by the mint to produce the coins. Working only with a handful of select manufacturers that meet the requirements.
Disruptions to both global and domestic supply chains effecting precious metals continue to impact investors and industry.
The raw materials used to mint Silver Eagles must be sourced from domestic silver mines, as prescribed by law.
The Mint has been unable to meet demand since 2021 when more than 28 million coins were sold. While investor demand remained strong in 2022, the Mint was only able to produce around 16 million coins.
So far in 2023, the Mint has reported sales over more than 6 million coins. However, numerous reports state the mint shifted production in late 2022 to start producing coins for the current year, which is the main reason the Mint was able to report 3,949,000 coins sold in January.
Sales reports show only 900,000 coins being sold in each month of February and March which is far below the Mint’s production capacity.
In 2015, the Mint sold 47,000,000 Silver Eagle bullion coins, the highest on record.
Year
1 oz ASE bullion coins
2019
14,863,500 coins
2020
30,089,500 coins
2021
28,275,000 coins
2022
15,963,500 coins
2023 (4 months)
6,199,000 coins
Recent Years Sales and Mintage Totals of 1 oz Silver American Eagle coins
It’s pretty indisputable that the economy is in the worst condition many Americans have seen since the 2008 financial crisis and the deep recession that followed.
This time around, the economy has been wrecked by a record combination of prevailing events.
It began before COVID was even a thing in September 17, 2019.
A few months later, the Biden administration put the entire country into lockdown, effectively shutting down every sector of the economy, aside from companies like Amazon, Walmart and other select corporations deemed “critical”.
Rising inflation began to take hold as the Fed continued to print more money to fund the pandemic with stimulus checks and other government handouts.
To combat the inflation crisis, the Fed responded with multiple steep increases in key interest rates that come faster than has happened decades.
Over the last week, APMEX, JM Bullion, SD Bullion and Money Metals Exchange have announced either increases in minimum order amounts or have added a few days to their shipping policies.
Gold has been trading steadily above $2,008 per troy ounce and silver closed the week at $25.07.
The demand for Silver Eagles have quickly increased because they are seen a trusted store of value over keeping cash with record inflation. Currently, the cheapest Silver Eagles have a premium of over 50% above spot price.
Other sovereign government coins with a lower premium are also reliable alternative for investors looking for a lower premiums.
Britannia, Philharmonic and Kangaroo have become the go to silver 1 oz coins that make an excellent store of wealth and are easy to stack and store at home.
According to inventory tracking of APMEX stock, it’s been reported that APMEX sales of silver on Thursday April 6 reach over 135,000 troy ounces, slightly higher than the Thursday following the collapse of SVB bank and the start of the current banking crisis.
Yesterday, estimated sales of #silver at APMEX were the highest I've ever recorded for a Thursday.
Sales were 135,405 ounces, 124% above an average Thursday, just barely passing March 16, the Thursday after Silicon Valley Bank collapsed. #silversqueezepic.twitter.com/AKCaL81Rq3
— Michael 🏳️🌈 #silversqueeze (@mikesay98) April 7, 2023
However, year-over-year sales of silver eagles are down so far in 2023.
For January, the mint posted sales of Silver Eagles, with 3,949,000 coins sold. This is substantially lower than the same period the previous year, when the mint posted sales of 5,001,000.
For the first week of February, the mint posted sales of just 450,000.
In recent weeks dealer we’ve seen premiums on current year silver eagles have been dropping.
However, some silver investors have found suitable lower premium replacements with silver coins from other mints.
Historically, gold and silver have held their buying power through previous recessions and periods of high inflation.
Precious metals are often recommended as a safe-haven that financial advisors recommend during down cycles in the stock market.
Holding precious metals as part of your portfolio acts as a stable hedge against a recession, or worse.
This year is the 37th year that the American Eagle coin series has been produced by the US Mint. These coins have been minted annually since 1986.
Wholesale and dealer premiums on Silver Eagles have risen dramatically in recent years due to ongoing supply chain issues with mint suppliers.
1 oz Silver Coins
Sovereign governments around the world issue coins minted from precious metals. These coins are mainly for investors.
Although these coins are denominated in their local currency, many also qualify for inclusion in a precious metals IRA.
1 oz Krugerrand Silver Coin
The Krugerrand is the original bullion coin created in 1967. It was created by the South African government as a vehicle to encourage investment in government backed gold bullion. The 1 oz Silver Krugerrand coin is minted in .999 fine silver with an evergreen design.
The 2023 1 oz Silver Krugerrand coin has become popular with investors that want a trusted bullion coin without paying high premiums.
The obverse of the Krugerrand carries the image of Paul Kruger. The reverse features an national animal, the springbok antelope.
Krugerrand silver coins have some of the lowest dealer premiums and widely recognized worldwide. The South African mint produces these coins on demand so there is no mintage limit.
1 oz Perth Kangaroo Silver Coin
The Australia Kangaroo series comes from the Perth Mint. The 2023 Kangaroo 1 oz silver coins feature an indigenous red kangaroo bouncing across a grassy outback plain on the reverse.
The obverse of this coin has historically carried an effigy portrait of Queen Elizabeth. It is tradition for the reigning monarch to appear on coins minted by Commonwealth countries. However for 2023, the mint has announced that the Queen will remain on these coins until a suitable image of King Charles is acquired.
1 oz Britannia Silver Coin
The Britannia Series from the Royal Mint has become more popular with each annual mintage after increasing the silver purity in 2013.
This year, 2023 marks the 10th anniversary that the Britannia coin has been available in .999 fine silver.
The first wave of 2023 Britannia silver show the familiar portrait of Queen Elizabeth on the obverse side.
In January, the mint began producing a new 2023 1 oz Silver Britannia coin with a newly sculpted left facing effigy of King Charles III.
The reverse continues to feature the Nathan design of the mythological Britannia.
1 oz Philharmonic Silver Coin
The Austrian Mint began minting the Philharmonic 1 oz silver coin in 2008. It the only bullion coin available that is denominated in the Euro currency.
The inspiration for the design of these coins is attributed to the Vienna Philharmonic orchestra. Both the obverse and reverse designs feature elements related to orchestral music.
1 oz Maple Leaf Silver Coin
The Canadian Maple Leaf 1 oz Silver Coin is minted in .9999 fine silver by the Royal Canadian Mint. The coin is one of the purest government-backed silver bullion coins available in the market.
The Maple Leaf one troy ounce coins have a lower premium than the ASE.
Silver Maples have a familiar design that is easy to recognize. The obverse design includes a portrait of Queen Elizabeth, while the reverse incorporates an image of the Sugar Maple Leaf.
Various improvements have been made to the design throughout the lifetime of the series to help prevent counterfeiting. Coins minted since 2018 include a new rinse process during manufacturing that virtually eliminates issues with milk-spotting that was prevalent with earlier coins.
FindBullionPrices.com aggregates precious metals prices from dozens of precious metals brokers to help bring transparency and reduce the confusion of online dealer pricing.
Precious metals coins have been found by archaeologists and historians that date back thousands of years.
Historians and archaeologists from around the world have unearthed precious metal coins from cultures that vanished long ago. Many notable examples from China, India, Ancient Greece and Egypt are on display in museums.
Silver, Gold and other precious metals are found in natural deposits throughout the world. Coins minted from silver and gold have been valued, exchanged as the purest form of money since ancient civilizations.
The earliest known was the Lydians, an ancient Mediterranean civilization that has been discovered in part of modern day Turkey.
The Lydians are the first known culture to create coins from gold and silver. The earliest coins discovered were minted of an alloy similar to electrum. Electrum is a naturally occurring alloy containing gold and silver that also contains trace amounts of copper and other metals.
The Lydian stater coins have often been reported to be struck from this naturally-occurring alloy. However, modern analysis has shown that many were actually made from a specific and rather consistent alloy. A mixture of approximately 55% gold, 45% silver, and a small balance of copper.
In Ancient Greece, the silver drachma was the standard used for hundreds of years even into the early Roman Empire. Each drachma was minted with 4.3 grams of silver. the largest know, the Decadrachm contained 43 grams of silver.
Colonial times and long ocean voyages to the new world helped to establish a new routes for international trade. The economies of the Europe were funded by exploits gained through colonial expansion. Ships returning to Europe brought goods like sugar, corn and tobacco. The New World was also filled with treasures made from gold and silver.
Locally struck coins dating to as early as 1497 have been discovered at early settlements in the Caribbean.
The Spanish were the first to establish a mint in the New World in what is today in Mexico City. La Casa de Moneda was built by Spanish Colonial settlers in 1536 by order of King Charles I of Spain.
La Casa de Moneda has operated continuously as the oldest operating mint in North America. The flagship bullion coin is the Mexican Libertad Silver Coins which are minted on an annual basis.
Silver coins were also struck in mints established throughout the British colonies. The US Mint was established in Philadelphia in 1792 following the American Revolution.
Everyday Americans carried and used silver coins in everyday life for more than 173 years. Coins minted from alloys of silver were in circulation up until the 1960s.
Congress passed the Coinage Act of 1965. The passage of this act led to further debasement and ushered in the transitioned the dollar away from a gold-standard.
Prior to 1965, all dimes, quarters, half-dollar and dollar coins were 90% silver. Half dollar coins were debased to 40% silver in 1965. The final 40% silver coins intended for circulation were minted in 1970.
The debasement of the dollar and removal from the gold standard continued during Nixon’s first term as president.
Today, these old circulated silver coins are referred to as Junk Silver. They are bought, sold, traded by investors, stackers, preppers, collectors. Having a few rolls or stacks of old silver coins provides some additional financial security. It’s easy to buy
The price of silver was driven up to over $50 per ounce on January 18, 1980. At the time the Hunt Brothers were reported to have been holding over 100 million physical ounces at the time.
In response, COMEX created a new trading rule called the “Silver Rule 7”. The new rule suddenly forced the brothers into covering debt borrowed to finance futures contracts. The abrupt change of rules caused the price of silver to drop bymore than 50% in just four days.
The law established that the first coins were to be released the following year meeting specifications for composition. The US Mint debuted the 1986 American Eagle, minted from .999 fine silver with a design that remained for 35 years.
In 2021, the US Mint updated the reverse with a new design that was introduced part-way into year. There are two distinct reverse designs for the 2021 American Silver Eagle.
During the first part of the year, the coins continued to be minted using the existing design. The coins featuring the new reverse that shows an eagle grasping an olive branch with both talons.
Type 2 – Silver Eagle Design
Today, American Silver Eagle investment coins are considered to be the most widely trusted and recognized silver bullion coin worldwide.
The number of coins manufactured each year varies on demand from investors. The coins are minted based on sales. This helps the US Mint to implement a business model that allows for flexibility in scaling capacity.
Silver bullion coins are sold only to Authorized Purchasers who are approved US Mint. The wholesalers acquire freshly minted silver eagle coins from the mint at a fixed premium over spot price. The premium from the mint to wholesalers is $2.35 over theLMBA silver spot price.
The list of Authorized Purchasers includes investment banks and online bullion dealers APMEX and A-Mark. A-Mark is the parent company of well-known online bullion dealers including JM Bullion, Silver.com, Provident Metals and BGASC.
This year, it has been widely reported that the US Mint has been unable to keep up with investor demand. This is the first time in the 36 year history of minting bullion coins. High premiums at retail have led to some investors to buy generic silver bullion.
Manufacturing delays of planchets from private refineries forced the mint to cancel several eagerly anticipated releases.
The American Silver Eagle coin is only available in a one troy ounce denomination which has a $1 USD face value legal tender designation.
BGASC was founded in 2012 in California and has reported more than 70,000 customers and $200 million in annual revenue. BGASC is an abbreviation for Buy Silver and Gold Coins.
Over the last few years, A-Mark has been leading an effort to consolidate and control many aspects of the bullion industry.
The Silver Heist channel on YouTube recently posted a video discussing the potential for long term impacts to consumers resulting from A-Mark’s ongoing acquisition-streak in the retail bullion industry that began with JM Bullion in 2021.
“Big Bullion Dealer Buys Other Dealer”, Silver Heist on YouTube!
As pointed out in the video, A-Mark has been acquiring stakes in many companies across all segments of the precious metals industry. The acquisitions have included refineries, smelters, wholesalers, distributors and retailers.
A-Mark now has control of an entire vertical segment from raw material to finished investment and industrial products. They have a stake in companies throughout all facets of the supply chain. Starting with the refineries, which is close to the point of extraction from mines.
At the refiner level of the supply chain the company has access to raw material from miners, recyclers and others through the ownership of Sunshine Minting and Silvertowne Mint.
Sunshine Minting was established in 1979 in Coeur d’Alene, Idaho. In 2007, the company was acquired by Tom and Patricia Power.
Other A-Mark affiliated online retailers that are listed on FindBullionPrices.com offer this exact same product at even higher price points and premiums.
In a way, A-Mark is able to strategic leverage their position in the industry to outsource the manufacturing of Silver Eagles to the US Mint at a fixed cost that they then sell at various price points through retail channels that they have influence over through investments or full ownership control.
The US Mint released a statement confirming a global shortage of silver after the website outages during the pre-sale of the 2021 Morgan Dollar commemorative coins.
“The global silver shortage has driven demand for many of our bullion and numismatic products to record heights. This level of demand is felt most acutely by the Mint during the initial product release of numismatic items.”
US Mint Press Release
This appears to be the first indication from a government agency acknowledging what many have been speculating for more than a year.
The lockdowns at the beginning of the COVID-19 pandemic forced the closure of many mines and the supply chains that turn raw ore into fine silver and gold.
The shutdown of the mines and supply chains led to refineries scrambling for raw materials and mints running out of product to sell.
After some backlash, the US Mint has revised its statement about the shortage.
“In more precise terms, the silver shortage being experienced by the United States Mint pertains only to the supply of silver blanks among suppliers to the U.S. Mint.”
US Mint Press Release
Silver blanks are manufactured for the US Mint by private mints. The US Mint didn’t specify which private mints were having issues supplying silver blanks. It has been documented previously that the US Mint has bought silver blanks from private mints such as Scottsdale Mint, Sunshine Minting, Coins’n’Things and other major industry players.
The US Mint has delayed the remaining pre-sales of the 2021 Morgan Dollars and 2021 Peace dollars. The prospective launch dates have yet to be announced.
The American Silver Eagle Coin was created by the US Mint in 1986 to establish a way to encourage the private ownership of precious metals.
Silver Eagles are issued in both bullion and proof versions. Bullion versions are intended for investment and have higher mintages, while proof versions are produced annually, the mint has issued a variety of special finishes. The American Silver Eagle bullion coin is minted based on monthly sales demand. The mintage figures for proof Silver Eagles are significantly lower.
It’s important to note that while mintage figures can provide insights into the popularity and production levels of a coin, they are not the only factor that influences a coin’s value. Collectors also consider factors like the coin’s condition (graded or ungraded), rarity, and overall demand in the market.
American Eagle Silver Mintages
Year
Bullion
Proof
Uncirculated (Burnished)
1986
5,393,005
1,446,778
1987
11,442,335
904,732
1988
5,004,646
557,370
1989
5,203,327
617,694
1990
5,840,110
695,510
1991
7,191,066
511,924
1992
5,540,068
498,543
1993
6,763,762
405,913*
1994
4,227,319
372,168
1995
4,672,051
407,822
1995-W
30,125
1996
3,603,386
498,293
1997
4,295,004
440,315
1998
4,847,549
450,728
1999
7,408,640
549,330
2000
9,239,132
600,743
2001
9,001,711
746,398
2002
10,539,026
647,342
2003
8,495,008
747,831
2004
8,882,754
801,602
2005
8,891,025
816,663
2006
10,676,522
1,092,477
466,573
2006-P Rev Pr
248,875
2007
9,028,036
821,759
621,333
2008
20,583,000
700,979
533,757
2009
30,459,000
0
0
2010
34,764,500
849,861
0
2011
40,020,000
847,473
409,766
2011-S
99,882
2011-P Rev Pr
99,882
2012
33,742,500
832,779
226,120
2012-S
281,792
2012-S Rev Pr
224,935
2013
42,675,000
934,331
221,981
2013-W
235,689
2013- W Rev Pr
235,689
2014
44,006,000
894,614
253,169
2015
47,000,000
696,001
200,016
2016
37,701,500
595,664
216,422
2017
18,065,500
(W) – 389,994 (S) – 123,906 3
176,739
2018
15,700,000
(W) – 352,141 (S) – 158,761
138,947
2019 1
14,863,5001
(W) – 319,086 (S) -146,735
138,140
2019-W Rev Pr
99,911 4
2019-S Enh Rev Pr
29,8232
2020 5
30,089,500
(W) – 357,048 (S) – 146,729 (W) v75 – 75,0006
(W) 154,261
2021 7
Type 1 – 25,675,500 Type 2 – 2,599,500
Type 1 – 299,509
(S) Type 2 – 238,454
(W) Type 2 – 311,982
Type 1 – 174,470
Type 2 –
2022
15,963,500 8
(W) 499,070
(S) 200,937
(W) – 160,025
2023
24,750,000 9
(W) 436,375 23EA
(S) 177,647 23EM
(W) 137,018 23EG
2024
14,250,000 10
(W) 263,829 24EA
(S) 24EM
(W) 85,905 24EG
American Silver Eagle History
The Liberty Coin Act of 1985 established the bullion coin program and directed the US Mint to create the first American Silver Eagle coins in 1986 and played a pivotal role in establishing the U.S. as a major player in the global bullion market. The primary objective was to authorize the U.S. Mint to produce gold and silver bullion coins for private investors as trusted precious metal coins for investment.
The Act was also part of a broader initiative that included reductions to the Defense National Stockpile of silver and to provide an avenue for individuals to invest in physical gold and silver as a means of diversifying their portfolios while providing an official means for Americans to own precious metal coins directly backed by the U.S. government.
This source of silver was depleted during the early 2000’s and the law was amended to allow the U.S. Mint to purchase silver on the open market to continue the Silver Eagle program.
American Eagle Silver coins are a trustworthy and easily recognizable investment choice that offer an accessible and trusted avenue to buy physical and own silver coins. The backing of the U.S. government for weight, content, and purity further bolsters investor confidence in these coins, ensuring high liquidity in the bullion market.
The law set initial design specifications and standards for the Silver Eagles that includes:
The coins will be 40.6 millimeters in diameter and weigh 31.103 grams
Each coin will contain .999 fine silver
Each coin will feature a design symbolic of Liberty on the obverse side and of an eagle on the reverse side
Each coin will be inscribed with the of the year of minting or issuance, the words ‘Liberty’, ‘In God We Trust’, ‘United States of America’, ‘1 Oz. Fine Silver’, ‘E Pluribus Unum’, and ‘One Dollar’
Each coin will have reeded edges
In the early years, investor awareness was low and mintage totals were relatively low. During the 2001/2002 financial crisis that led to a recession, investor demand for American Eagles as a safe-haven assets skyrocketed with more than 10 million silver bullion coins were minted for the first time in 2002.
During the 2008 financial crisis, demand for American Silver Eagles soared as the economy retracted through the housing bubble, with mintage figures during those years surpassing 20 million coins.
Demand for Silver Eagle coins soared again during the pandemic. However, due to supply chain disruptions, the United States Mint temporarily suspended Silver Eagle production. The led to a lower than usual mintage in 2020 that rebounded in 2021.
Rare Mintages and Collectible Silver Eagle
While these coins were created primarily for investment purposes, they also cater to collectors for their aesthetic appeal. Over the years, the U.S. Mint has released Proof Silver Eagles, Uncirculated or Burnished and special editions of these coins that have become highly sought after by numismatists.
Many collectors want to buy American Silver Eagle coins from each mintage year to build a complete set. Some dealers also sell a complete set of Silver Eagles with coins featuring coins from each mintage encapsulated and graded by third-party services like NGC & PCGS.
For many collectors, the most coveted coin is the debut 1986 Silver Eagle. As the inaugural issue of this series, this coin holds a special place for many collectors.
The lowest mintage to date is the 1996 Silver Eagle Bullion Coin. The US Mint produced just 3.6 million Silver Eagle coins dated that year. Even coins in poor condition can fetch high premiums.
The value of some Silver Eagle $1 Coins keep rising due to their rarity and demand from collectors and numismatists. Recent auctions reflect some of the higher numismatic premiums for these rare Silver Eagle coins.
The 1995-W Proof Silver Eagle is perhaps the most famous and desired of all Silver Eagle coins. It was only included as part of the 10th-anniversary Gold Eagle Set and is the rarest Silver Eagle with a mintage of only 30,125.
Issued to mark the 20th anniversary of the Silver Eagle program, the 2006-P Reverse Proof Silver Eagle features a unique reverse proof finish. It was only available as part of a special three-coin set.
The 2008-W Burnished Silver Eagle with Reverse of 2007 variety was an unintentional error where the U.S. Mint used the 2007 reverse die in 2008. It’s distinguished by the absence of a serif on the “U” in “United.”
In 2011, the US Mint issued the 2011 25th Anniversary Set and is highly sought after because it included a reverse proof coin and an S-minted uncirculated coin as part of a five coin set.
The release of the 2019-S Enhanced Reverse Proof American Silver Eagle coin in November was met by incredibly high demand due in part to its limited mintage.
The mintage was limited to only 30,000 coins making it the lowest mintage of any variety of American Silver Eagle coin produced to date. The 2019-S Enhanced Reverse Proof American Eagle Silver coin sold out from the US Mint website in under 15 minutes.
During the 2020 mintage year the West Point Mint was closed for the period from April 15 until April 21. During a similar period, from April 8 to April 20, the U.S. Mint added silver American Eagle production to Philadelphia and produced 240,000 Silver Eagle Bullion Coins at that location.
These 2020 (P) Emergency Production Silver Eagles were issued without a mint mark. The only identifying markings were available on Monster Boxes. Some Monster Boxes that were certified as originating at the Philadelphia Mint have been cataloged and authenticated by various third-party grading services including NGC and PCGS.
Silver Eagles that have been graded by professional grading services, like the Numismatic Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS), and have received high grades (e.g., MS-70 or PF-70) can be especially sought after. First Strike or Early Release designations can also add to their desirability.
Burnished Silver Eagles are uncirculated coins, sometimes referred to with a “W” mint mark from West Point, have a distinct finish that are limited mintage and sought by collectors.
Frequently Asked Questions About American Silver Eagle Coins
What is the American Silver Eagle?
The American Silver Eagle is the official silver bullion coin of the United States. It was first minted in 1986 and has been produced annually since.
What is the silver content of an American Silver Eagle?
Each coin contains one troy ounce of .999 fine silver.
What is the face value of the Silver Eagle?
The face value is $1, though its market value is determined primarily by its silver content and current silver prices plus an additional premium.
Where are Silver Eagles minted?
Over the years, they’ve been minted at various U.S. Mint facilities, including West Point, San Francisco, and Philadelphia.
Are there proof and uncirculated versions of the Silver Eagle?
Yes, in addition to the standard bullion version, the U.S. Mint also produces proof and uncirculated (or “burnished”) versions intended for collectors.
How can I tell if my Silver Eagle is real?
Authentic Silver Eagles have specific dimensions, weights, and designs. Coin dealers often use Sigma Verifiers, scales, calipers and other tools to verify authenticity. There are also easy at-home tests, like the “ping” test, the use of magnets or water displacement to help in identification.
Are Silver Eagles legal tender?
Yes, they are legal tender with a face value of $1. However, their intrinsic value, based on silver content, is much higher than their face value.
Can Silver Eagles be included in my Individual Retirement Account (IRA)?
Yes, American Silver Eagles, being .999 fine silver, meet the purity requirements to be included in precious metals IRAs.
How do I store Silver Eagles?
Many collectors and investors use protective capsules, tubes, or monster boxes (official U.S. Mint containers that hold 500 coins). Some also opt for safe deposit boxes or professional vaulting services.
Why do some Silver Eagles have different finishes or mint marks?
The U.S. Mint has released various editions, including bullion, proof, and uncirculated versions. Bullion coins typically don’t have mint marks, while proof and uncirculated coins often do. Special releases, like reverse proofs or enhanced uncirculated coins, have been issued for anniversaries or other occasions.
How do I buy American Silver Eagles?
Proof and Special Edition coins that are offered as numismatics are available to purchase from the US Mint. Bullion coins can only be purchased from precious metals dealers and secondary market sources.
Why are some years or versions of the Silver Eagle more expensive than others?
Prices can be influenced by mintage numbers, demand, coin condition, special designations (like “First Strike”), and historical significance.
American Silver Eagle Mintage History Notes & References
1 – Sales totals through November 30, 2019. December Sales Totals Unpublished. 2 – Announced Mintage was 30,000 coins. Sales totals shown are based on sales data supplied by the US Mint. 3 – The 2017-S Proof Coin was released in two special sets. One called the “Congratulations Set” (17RF) with an announced mintage of 75,000 units. The other “Limited Edition Proof Set” (17RC) with an announced mintage of 50,000 units. Sales records show 48,906 Limited Edition Proof Sets sold. Sales records do not indicate how many Congratulations Sets were sold that year. 4 – The 2019-W Rev Proof was released as part of the “Pride of Two Nations” set (19XB) 5 – Updated 2020 based on sales figures released by the mint January 5, 2020. The West Point Mint was shutdown from April 15 to April 21, 2020 due to the Coronavirus Pandemic. Minting of Silver Eagles was briefly shifted to the Philadelphia Mint and 240,000 ASE were minted. The only distinction of the Philadelphia ASEs is the box tracking numbers on the outside of the Monster Boxes. Box tracking numbers 400,000 through and including 400,479 were used on boxes of coins minted in Philadelphia. A total of 480 2020 American Silver Eagle Monster Boxes were minted at the Philadelphia Mint.
6 – The US Mint released a special proof American Silver Eagle coin to commemorate the anniversary of the end of World War II on November 5, 2020. This American Silver Eagle is the first to contain a privy mark embossed with v75. This special proof Silver Eagle has a limited mintage of 75,000 coins.
7 – 2021 will see 2 different designs of the American Silver Eagle. The “type 1” design, which has been the design since the program’s creation. The “type 2” design will be a new design and is expected to be released mid-year. Sales figures updated as of December 28, 2021
8 – 2022 Sales Figures through January 3, 2023.
9 – 2023 Year to Date Sales as of December 23, 2023.
10 – 2024 Year to Date sales as of April 28, 2024.
End of World War II 75th Anniversary American Eagle Silver Proof Coin
The most anticipated coin release in recent time was last years’ 2019-S Reverse Proof American Silver Eagle coin. With only 30,000 coins minted, the coin was sold out in minutes from the US Mint website.
Pretty nice ROI for a coin that was sold by the US Mint for $65.95.
This year there seems to be a lot of hype lately around the US Mint’s upcoming release of a new Silver Eagle Proof coin. The coin is being marketed by the US Mint as a commemorative celebrating the 75th Anniversary of the End of World War II.
The coin is minted by the West Point Mint. It is a proof coin containing a special privy mark shaped like the reflecting pool at the World War II Memorial in Washington, DC. Inside the privy it is stamped with V75.
This is the first time the US Mint has release an American Silver Eagle coin with a privy mark.
The coin goes on sale next Thursday November 5 at 12 noon eastern time. You can sign up for reminder alerts on the product page at the US Mint website. I’m sure this coin will sell out quick.
If you’re lucky enough to buy one of the 75,000 coins being made available it should be an easy flip for a huge ROI.
The Unveiling of the New American Eagle Coin Designs
New reverse designs for both the American Silver Eagle and the American Gold Eagle coins have just been unveiled by the United States Mint. These exciting new designs will be featured on collectible and bullion coins in 2021. The reverse or tails designs will be available for both versions of the silver eagle and gold eagle collectible coins. The American Eagle Coin Program will be celebrating its 35th anniversary in 2021.
The exciting new designs are set to become available toward the middle of the year. As the Director of the United States Mint, David J. Ryder made a statement. He said the United States Mint has an artistic heritage based on excellence. The gorgeous new designs were created to build on this heritage while fortifying the status of the American Eagle Coin Programs as an icon for both the art and numismatic worlds.
The Redesign for the Reverse Side of the American Eagle Coins
The new designs are enchanting portraits of a proud eagles. The inscriptions on the American Silver Eagle and American Gold Eagle coins are the United States of America, In God We Trust, 1 oz. Fine Gold, E Pluribus Unum.
The designer for the AIP or Mint Artistic Infusion Program is Jennie Norris. The beautiful design she created was sculpted by Renata Gordon, the medallic artist for the United States Mint.
Renata Gordon was previously a volunteer raptor handler.
The deep connection she shares with wildlife was responsible for the inspiration required for her design. She spoke of the American Eagle as a sensationally noble bird. Her intention was to capture the intense stare of the eagle through the use of close cropping. The gaze she created speaks of the wisdom and pride generations have passed down over the course of time.
The Specifics of the New Design
The designs depicted on the silver eagle and gold eagle coins are notably different. Both designs are an attribute to the quality coins available through the United States Mint. The design was created by Emily Damstra, an AIP designer.
Michael Gaudioso is the medallic artist for the mint responsible for sculpting the coins. When Emily Damstra reflected on the design she created she spoke of her inspiration. She said she had the desire to create an image with all of the values represented by our national bird. She focused on conveying the most important traits including cooperation, protection, diligence and care in the most unique way possible.
The Head of the Eagle
The head or obverse side of the redesigned American Silver Eagle and American Gold Eagle coins will still show versions of the same historical designs the mint has featured for these coins during the last three decades. The obverse for the gold eagle coin will show a refreshed depiction of the design established by the well-known sculptor Augustus Saint-Gaudens in 1907.
Adolph A. Weinman is the famous sculptor responsible for the original Walking Liberty depiction of 1916. This image will be displayed on the obverse side of the silver eagle coin. The last issues for coins with the current design are the 20EM or One Ounce Silver Proof American Eagle Coin minted in San Francisco in 2020 and the 20EH or one ounce uncirculated gold American Eagle coin minted at West Point in 2020.
The 20EM or silver one-ounce proof coin of 2020 displaying the S mint mark of San Francisco will become available on October 13th of 2020. The 20EH or one ounce uncirculated gold American Eagle coin of 2020 will become available on November 19th of 2020.
Decreasing the Risk of COVID-19
The United States Mint has closed its sales centers until further notice to decrease employee risks in the workplace of exposure to COVID-19. The United States Mint has also made operational adjustments due to the COVID-19 response. There are customer service representatives ready to answer the questions of both potential and current customers.
Credit card information is not currently being accepted on the phone and customers will be unable to place their orders in this manner. All orders can be placed at this time by visiting the official website of the United States Mint.
About the United States Mint
The United States Mint was created by Congress in 1792. In 1873, the Mint was included in the Department of the Treasury. The Mint is the sole manufacturer for the nation of legal tender coinage. This means the Mint has the responsibility of producing and circulating coinage and conducting both commerce and trade for the nation.
Numismatic products are also produced by the United States Mint including commemorative, proof and uncirculated coins, Congressional Gold Medals, bronze and silver medals and gold and silver bullion coins. The numismatic programs of the Mint are self-sustaining to ensure operation with no cost to the taxpayers.
