Are the American Eagle Silver Coins A Good Coin To Collect?
One outlet for people with surplus cash is to invest counts. This is among the reasons why the American Eagle Silver Coins was produced in 1986. In fact, the Silver Eagle bullion coin may be used to fund investments for an Individual Retirement Account. The US Mint, authorized by Congress to manufacture the coin under the 1986 American Eagle Bullion Coin Program, has authorized a network of bullion purchasers to create a two-way market for the bullion to be made available in gold and platinum coins. These US Mint-authorized outlets are the ones which buy and resell Silver Eagle bullion to the public.
These outlets generally make the American Eagle Silver Coins purchases in bulk from the US Mint. They get what is known in trading as the “Monster Boxes”, which are green boxes containing 25 rolls or tubes of 20-coin Silver Eagle rolls. The same boxes are sold to the investing public. Purchases of 20-coin rolls are the most common in bulk deals which usually provide the lowest premium per coin. Individual coin purchases can also be done, and premiums are often the highest. These purchases are usually done by collectors who want to assemble a series with one coin for each year of mintage.
In addition to selling the Silver Eagle Coin series through dealers in a secondary market, the US Mint also directly sells coin proofs to collectors. These so-called proofs are minted through a special process wherein each coin is struck several times to produce distinctively detailed images. In the case of Silver Eagles, it is referred to as the “Walking Liberty”, which is found on the obverse side of the coin and the classic heraldic eagle with a shield is found on the reverse side.
In order to assemble the more valuable Silver Eagle Coin collection, one must have a good knowledge of the bullion’s mintage series which vary widely over the years. This wide mintage variation results in the wide range of prices in the American Eagle Coin series. Among those that are highly valued by collectors are the coins in 1995 during which the US Mint marked the 10th anniversary of the American Eagle Bullion Program. To celebrate this anniversary, a special 1995-W Proof Silver Eagle was minted within the year’s Gold Eagle Proof Set, of which only 30,125 sets were sold, by far the lowest in the series. Another special three-coin set was produced by the US Mint in 2006 to celebrate the 20th anniversary of the program. This set included a 2006-W Reverse Proof Silver Eagle, the first minting of this kind for a US coin.
The 2008 mintage is also a favorite among collectors. A 2008-W Silver Eagle Reverse coin was minted using the 2007 reverse dies. Surging silver prices in 2008 due to shortages have likewise sent Silver Eagle prices soaring and mintage to new record levels.
Related Coin Articles
- What Is the Value of the American Eagle Silver Coins? - Each Silver Eagle Coin proof and the other coins minted under the bullion program are struck in a special minting process. The American Silver Eagle Coin is also available as bullion for investors. There are several options in purchasing Silver Eagle Coins.
- American Eagle Silver Coins Review - The US Mint first issued the Silver Eagle in November 1986. The minting of the Silver Eagle Coins is part of the American Eagle Bullion program authorized by the United States Congress in 1985. The Silver Eagle medallions come out of three mints.
- Why is there a surge in sales of American Eagle Silver Coins? - The 2008 proof mintage sports some other features distinctive in the Silver Eagle Coin series. Every American Silver Eagle Coin is composed of .999 fine silver, with a weight of 1.000 troy ounce for a silver content of 0.999 troy ounces.