American Silver Eagle coins
From Silver Bullion
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About American Silver Eagle coins
The American Silver Eagle was first issued in 1986 as part of the American Eagle Bullion Program. This program was authorized by Congress in 1985 to produce gold and silver bullion coins with their weight, content, and purity guaranteed by the United States Government.
The American Eagle is uniquely the only silver bullion coin whose weight, content, and purity is guaranteed by the United States Government. As the only silver bullion coin of the United States, Silver Eagle coin has been issued every year since 1986 in quantities sufficient to meet demand from precious metals investors and coin collectors.
Silver Eagle coin has become the most popular and widely collected coin in U.S. history. American Eagles are easily converted to cash at any time.
The design of American Eagles
The design of the Silver Eagle is taken from the Walking Liberty Half Dollar.
Versions of American Silver Eagle coins
The U.S. Mint offer Silver Eagles in three versions. The first is the regular silver bullion version of the coin which is available from authorized bullion dealers and coin dealers. The second is the collectible proof version available each year, directly from the U.S. Mint. The final and most recent version is a collected uncirculated or burnished version of the coin. These eagle coins carry the "W" mint mark and are struck on burnished specially blanks.
The specifications of Silver Eagle coins
The specifications of the bullion coins have remained the same for the entire series.
Denomination: $1 Years: 1986 to Present Silver Content: 31.072 grams (0.999 ounces) Weight: 31.103 grams (1.000 ounces) Diameter: 40.60 mm (1.598 inches) Thickness 2.98 mm (0.177 inches)
Buying and selling American Eagle coins
One measure of an investment is liquidity: How easily can it be converted to cash? Silver Eagles, with their unique U.S. Government backing, can be sold for cash at most coin and precious metals dealers worldwide. They’re also legal tender. Their one-dollar face value is largely symbolic, because silver’s market price — which is reported in the market pages and Web sites of major newspapers — has historically been higher. Buy Silver Eagle coins at most coin and precious metals dealers, as well as many brokerage houses and participating banks. They sell at silver’s prevailing market price, plus a small premium to cover coinage and distribution costs. And because silver is typically the lowest-priced precious metal, Silver Eagles are affordable for nearly every investor.
American Eagle bullion coins are not sold directly to the public. Instead, the United States Mint sells the coins through a network of authorized bullion purchasers.
Each American Eagle’s price is based on the current market "spot price" plus a premium per coin.
Silver Eagles can be purchased through several options. Bulk purchases can be made by buying so-called "Monster Boxes." These green boxes contain 25 tubes of 20-coin Silver Eagle rolls. As a bulk method, this usually yields the lowest premium per coin. In a Mint-sealed box of 500 coins, 2010-dated Silver Eagles sell at a markup over spot of $2.80 each coin.
More commonly coins are purchased by individual 20-coin rolls. Silver Eagles can also be purchased individually. The premiums for purchasing coins individually are generally the highest.
Silver Eagle Coin Fraud
Coin fraud is an unfortunate reality in the coin collecting marketplace, but you can avoid buying fake silver coins, and avoid coin fraud in general, by learning how to spot fake coins.
1.Does the silver coin look right? Learn what the genuine silver coin looks like.
2.How much does the silver coin weigh? Most fake silver coins are made from silvery metal alloys that weigh less than genuine silver. A genuine silver eagle weighs 31.101 grams.
3.How does the surface of the silver coin look? Silver has a distinctive sheen to it that is neither too harsh nor too soft or "soapy" looking. Fake eagles often are dull and grayish looking, with almost no relief.
4.Does the silver coin's edge look right? If you ever see an Silver Eagle without reeded edges, it's not a mint error, but a fake silver coin.
5.Does the silver coin pass a magnification check? Sometimes just looking at the coin under 10x is enough to condemn the silver coin as a fake. Under magnification fake eagles often look soapy and dull.
6.Does it pass the silver coin ring test? Silver bullion coins have a distinctive ring when held on the tip of a finger and tapped with another coin.
