American Silver Eagles
US Mint 1 oz American Silver Eagle Coins
Learn More About American Silver Eagles
First issued in 1986 after the passage of the Liberty Coin Act, the American Silver Eagle is the official silver bullion coin of the United States. These coins are produced by the US Mint to be a trusted store of value and wealth. Each coin is guaranteed to contains 1 troy ounce of .999 fine silver and carries a face value of $1.
1 oz American Silver Eagle
The American Silver Eagle was intended to be a simple, standardized investment option for silver, providing a consistent and easily recognizable form of bullion for both investors and collectors. The 1 oz size was chosen because it is a widely recognized standard in the precious metals market, making the coin easy to value and trade globally.
To date, the U.S. Mint has not issued American Silver Eagles in any sizes other than 1 oz. The decision to keep the coin exclusively in this size helps maintain its simplicity, uniformity, and trustworthiness in the market.
Buying Options
While most dealers offer Silver Eagles for sale individually, buying in bulk can provide significant savings on premiums. The Mint packages newly minted coins using tubes that contain twenty 1 oz Silver Eagles. For investors looking to make a significant investment, a Monster Box is made up of 25 individual tube for a total of 500 coins.
- Each coin has a face value of $1 US Dollar and is legal tender
- Each coin has a government backed guarantee for weight, content, and purity
- Eligible for inclusion in a precious metals IRA
Silver Eagle coins are readily available individually or in large quantities from most bullion dealers. This makes purchasing convenient and accessible.
Secondary Market Silver Eagles
Silver Eagles are the most frequently traded bullion coins. When an investors sells their coins to a dealer, they are tested to ensure authenticity, then resold on the secondary market with a lower premium than newly minted coins.
While most coins will arrive in BU condition, some coins will show signs of handling, such as light surface scratches, marks, tarnish and other blemishes. These minor imperfections have no effect on the coin's intrinsic value.
Scratched, Damaged, or Cull Coins
Some dealers will offer damaged or cull Silver Eagles that have damage beyond what can occur with normal handling. The condition will vary, but these may include colorized or painted coins, those with extensive or heavy tarnish, extensive scratches and handling from being used as a pocket piece, etc. These are typically have the cheapest price and lowest premiums. However, they still retain their full intrinsic value, despite the damage.
eBay, Costco and Online Marketplaces
In addition to their own e-commerce websites, many major bullion dealers use the eBay and other platforms for sell precious metals, including Silver Eagles.
Millions of investors find that buying on eBay offers a convenient and familiar online shopping experience. With various convenient payment methods, and "all in" pricing that usually includes shipping. Additionally, investors are protected at multiple levels through eBay, Credit Card companies, and Paypal to ensure the products are authentic.
While it's easy to justify buying Silver Eagles at Costco due to the rebates and rewards available, the availability is limited to flash sales with minimal inventory. Investing at regular intervals is the most effective way to maintain a low dollar-cost average, and most online bullion dealers will always have an extensive inventory to chose from.
Silver Eagle Prices and Premiums
The premium is the percentage over the silver spot price that you will pay when buying American Silver Eagles. The premium consists of manufacturing fees from the Mint, wholesale distribution costs, as well as the retail premium charged by dealers.
The US Mint charges wholesalers, authorized purchasers and dealers a fee when buying direct from the mint. This fee, currently $3.05 per coin, is based on the costs associated with minting of each coin.
This fee is applied to all newly minted ASEs regardless of the dealer.
American Silver Eagle Proofs
American Silver Eagle Proof Coins are a special, high-quality version of the standard American Silver Eagle bullion coin that are produced for collectors. These coins are struck multiple times using specially polished dies and planchets (blanks) to create a highly reflective, mirror-like background with frosted design elements. This process gives the coins a sharp contrast between the raised, frosted designs and the mirrored fields, resulting in a stunning visual appearance.
Reverse Proof Silver Eagles
Reverse Proof Silver Eagles are a variation of the traditional proof coins, where the finishing process is inverted: the design elements are polished to a mirror finish, while the background fields are frosted. This reversal of the standard proof finish results in a striking contrast and gives the coin a unique and highly attractive appearance. Reverse Proof Silver Eagles are often issued in limited quantities, which can add to their appeal among collectors.
Certified American Silver Eagles
Certified American Silver Eagle coins are Silver Eagles that have been evaluated, authenticated, and graded by professional third-party grading services such as the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS).
Certified Silver Eagles can be more valuable than raw (uncertified) coins, depending on the finish, year of issue, rarity, mintage amount and other factors. Certification provide assurance of the coin's authenticity, with an objective grade assigned to reflects its condition and quality. Higher-grade coins, especially those graded as Mint State (MS) or Proof (PF) 69 or 70, can command higher premiums than uncertified coins.
American Silver Eagle Designs
The design of the American Silver Eagle has had two major iterations: the Type 1 design, used from 1986 to 2020, and the Type 2 design, introduced in the middle of 2021.
Obverse Design (Common to Both Type 1 and Type 2)
- "Walking Liberty": The obverse of the American Silver Eagle features Adolph A. Weinman's iconic "Walking Liberty" design, originally used on the half-dollar coin from 1916 to 1947. This design depicts Lady Liberty striding confidently toward the sunrise, draped in the American flag, with her right hand extended and branches of laurel and oak in her left. This imagery symbolizes strength, unity, and hope for the future.
- Inscriptions: The obverse includes the inscriptions "LIBERTY", "IN GOD WE TRUST", and the year of issue.
Type 1 Reverse Design (1986-2021)
- Heraldic Eagle: The reverse of the Type 1 American Silver Eagle was designed by John Mercanti. It features a heraldic eagle with a shield, symbolizing the strength and protection of the nation. The eagle holds an olive branch in its right talon, representing peace, and arrows in its left talon, representing readiness for defense. Above the eagle are 13 stars, representing the original 13 colonies.
- Inscriptions: Surrounding the design are the inscriptions "UNITED STATES OF AMERICA," "1 OZ. FINE SILVER," "ONE DOLLAR," and "E PLURIBUS UNUM."
Type 2 Reverse Design (2021-Present)
- Landing Eagle: The Type 2 reverse, introduced in 2021, features a new design by Emily Damstra that shows a bald eagle in mid-flight, holding an oak branch in its talons as it prepares to land. This dynamic image reflects the grace and power of the national bird, symbolizing the nation's strength and resilience.
- Inscriptions: The inscriptions on the Type 2 reverse remain the same as those on the Type 1: "UNITED STATES OF AMERICA," "1 OZ. FINE SILVER," "ONE DOLLAR," and "E PLURIBUS UNUM."
Anti-Counterfeit Security Features
The Type 2 American Silver Eagle introduced several advanced security features to enhance the coin's authenticity and prevent counterfeiting. These include:
- Enhanced Reeding: The edge of the Type 2 Silver Eagle features an interrupted reeding pattern, a small gap in the reeded edge. This is a subtle but effective anti-counterfeiting measure.
- The U.S. Mint also refined the obverse design, using modern techniques to bring out more detail in Weinman's original artwork, further differentiating the Type 2 from earlier coins.
How to find the cheapest American Silver Eagles
We scan all of the major, reputable online dealers to find the best price American Silver Eagles. Our product listings show the dealer, the prices and include shipping costs and other information, such as payment types accepted and links to customer reviews. The price each dealer is charging for a particular product, as well as the premium that dealer is charging over silver spot price. The lowest prices will be listed first.Frequently Asked Questions
Why are Silver Eagle premiums higher than bars and rounds?
The U.S. Mint charges a premium of $3.05 over the spot price of the metal when selling Silver Eagles to its network of Authorized Purchasers to cover production costs, distribution, and a modest profit margin. Additional premiums are added by wholesalers and dealers to cover operational costs and profit margins. Prices and premiums can sometimes change quickly in response to market demand, changes in production costs, and other factors.
Are American Silver Eagles legal tender?
Yes, they are legal tender in the United States with a nominal face value of one dollar. However, their market value is based on their silver content, which is significantly higher than the face value.
Each coin is minted with 1 troy ounce of .999 fine silver.
Where can I buy American Silver Eagles?
You can purchase them from authorized bullion dealers, reputable online retailers, local coin shops, some banks, and at coin shows.
While many reputable dealer sell through online marketplaces like eBay and Walmart, always ensure you are buying from a trusted source to guarantee authenticity.
Can I include American Silver Eagles in my IRA?
Yes, since they meet the IRS requirements for purity and are legal tender, American Silver Eagles are eligible for inclusion in a Precious Metals Individual Retirement Account (IRA). You must use a self-directed IRA and store the coins with an approved custodian.
Do American Silver Eagles have numismatic value?
Certain American Silver Eagles, particular those with a proof, those from years with low mintages, or coins featured in special releases and mint errors, often carry numismatic value that exceeds the intrinsic value of the silver content.
Where can I easily sell American Silver Eagle Coins?
Yes, due to their popularity and recognition, they are highly liquid. You can sell them to coin dealers, bullion dealers, at coin shows, or through private sales.
Are Silver Eagle Coins subject to sales tax?
Sales tax on bullion purchases depends on state and local laws. Some states exempt bullion from sales tax, while others apply it. Check the regulations in your area or consult the dealer.
