American Silver Eagle coins
From Silver Bullion Bars, Ingots, Coins and Rounds. Junk Silver Prices
About American Silver Eagle coins
There a plenty ways of investing in gold and silver coins but the most popular way is buying the famous American Silver Eagle coins.
The American Silver Eagle coin was first issued in 1986 as part of the American Eagle Bullion Program. This program was authorized by U.S. Congress in 1985 to produce gold and silver bullion coins with their weight, content, and purity guaranteed by the U.S. Government.
Now the American Eagle Silver coin is the only silver bullion coin whose weight, content, and purity is guaranteed by the U.S. Government. As the only silver bullion coin of the U.S., Silver Eagle coin has been issued every year since 1986 in quantities sufficient to meet demand from precious metals investors and silver bullion coin collectors.
American Silver Eagle coin has become the most popular and widely collected silver coin in U.S. history. American Silver Eagles are very liquid, convenient, affordable, attractive and asily converted to cash at any time.
The Design of American Eagles
The design of the observe of the Silver Eagle coin is taken from the Walking Liberty Half Dollar (Adolph A. Weinman's design). The reverse of the American Silver Eagle features a heraldic eagle with a shield and was created by John Mercanti, specifically for the American Silver Eagle coin.
Versions of American Silver Eagle coins
The U.S. Mint offer Silver Eagles in the three different versions. The first one is the regular silver bullion version of the coin which is available from authorized bullion dealers and coin dealers. The second version of the coin is the collectible proof version available each year, directly from the U.S. Mint. The most recent series is a burnished or uncirculated version of the silver Eagle. These Eagle Silver Bullion Coins has the W mint mark and all these silver coins are struck on specially burnished blanks.
Specifications of American Silver Eagle coins
Specifications of the American Silver Eagle coins have remained the same for the entire series:
Denomination: US$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 Silver Eagle coins
The most important measure of any investment is liquidity: how easily can it be converted to cash? American Silver Eagle coins can be sold for cash easily at most precious metals, jewellery and coin dealers worldwide, local or online. American Silver Eagle coins are also legal tender. Their one dollar face value is largely symbolic, because silver’s spot market price is much higher. You can buy Silver Eagle coins at most coin and precious metals dealers, online auctions like Ebay, at various brokerage houses and banks or sites like COMEX or APMEX. American Silver Eagle coins are usually sold at spot market price of silver, plus a little premium over spot silver price to cover coinage and distribution costs. And because silver is typically the lowest-priced precious metal compared to gold, platinum or palladium, American Silver Eagle coins are affordable for nearly every individual investor in precious metals.
American Eagle bullion coins are not sold directly to the public by U.S. Mint. Instead, the U.S. Mint sells the American Eagle coins through a network of authorized bullion distributers.
American Silver Eagles can be purchased through several options. Bulk purchases can be made by buying so-called Monster Boxes - green boxes which contain 25 tubes of 20 American Silver Eagle rolls. As a bulk method, this usually yields the lowest premium per coin. In a Mint-sealed box of 500 coins, 2011-dated Silver Eagles sell at a premium over spot of $3 each coin (but you should know that the lowest premium for silver bullion products is not for silver coins but for silver bullion bars, especially 1000 and 100-oz silver bars).
More commonly Silver Eagles are purchased by individual 20-coin rolls. American Silver Eagles can also be purchased individually. The premiums for purchasing coins individually are generally the highest.
American Silver Eagle coins can sometimes be worth more than their silver content value: Silver Eagles issued in 1986, 1992, 1993, 1995, 1996, 1997, 1998 and 2000 have a additional value beyond their silver content spot value.
Silver Eagle Coin Fraud
Coin fraud is an unfortunate reality in the gold and silver coin collecting marketplace, but you can avoid buying fake silver coins, and avoid coin fraud in general, by learning how to spot fake silver 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 Coin weighs 31.101g.
3. How does the surface of the Silver Eagle Coin look? Silver has a distinctive sheen to it that is neither too soft nor too harsh or soapy looking. Fake Silver Eagle Coins often are dull and grayish looking, with almost no relief.
4. Does the silver coin's edge look right? If you see a Silver Eagle coin without reeded edges, it's not a mint error, but a fake silver coin.
5. Does the Silver Eagle 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.