American Silver Eagle Value

The  value of an American Silver Eagle coin is primarily determined by the current market price of silver, known as the spot price, which fluctuates daily. As of 2024, the average value is around $34.35. However, factors such as coin condition, rarity, and collector demand can significantly impact its worth, with certain rare editions fetching much higher prices. Bullion versions are closely tied to the silver spot price, while proof and special edition coins often carry a premium due to their limited mintage.

In the 1970s silver that had been stored in the U.S.’ Defense National Stockpile for years had accumulated to the point that it exceeded projected needs. The Nixon administration proposed selling some of these holdings, but silver miners opposed the move since selling a lot of silver would depress spot prices. Later the Reagan administration proposed selling 75% of the stockpile, but that measure, which would have depleted the stockpile quickly, was blocked by Senator James McClure (R-ID), whose district included silver miners.

Instead, McClure proposed that silver from the stockpile could only be sold if the silver miners were given a way to sell surplus silver to the U.S. government. Thus, once again the silver mining industry played a key role in shaping American silver coinage as it did in the 19 ^th century, and the idea of an American silver bullion investment coin was born. The American Silver Eagle program was then authorized through an amendment to the 1985 legislation that created the Statue of Liberty commemorative coin program.

American Silver Eagle

First issued in 1986 in both bullion and proof versions, the American Silver Eagle is not only the U.S. Mint’s most successful non-circulating coin program of all time, but it is also the world’s most popular silver bullion coin with almost 600 million coins struck in a market that today offers buyers more choices of different silver bullion coins that ever.

In 2002, when the silver from the stockpile had been depleted, the law was modified to continue issuing American Silver Eagles with silver purchased from U.S. silver mines at market prices.

Today, the Silver Eagle is at the heart of the modern U.S. coin and silver bullion markets as the silver coin that has the highest demand and premiums and the greatest liquidity because of those factors. It is also the most widely collected silver coin in the country with more people building various sets of the coin than of any other modern U.S. coin.

Silver Eagle coins

Silver eagles are issued in six versions as far as strike and finish, including mint state, proof, burnished, reverse proof, enhanced uncirculated, and enhanced reverse proof – with the later three all issued in special sets. See this  post for an explanation of those types of Silver Eagles and of the sets.

World War II privy eagle

In November, as part of the U.S. Mint’s numismatic tributes to the victorious end of World War II, achieved through American leadership, military intervention and allied support, the first-ever privy-marked American Silver Eagle will be issued. Over 400,000 Americans died during the war, which formally ended on September 2, 1945 after the Japanese surrender that followed that of Nazi Germany in May of that year.

The coin will feature a small privy mark (similar to the ones on the 2020 West Point quarters) with “V75” within an outline of the Rainbow pool of the World War II memorial in Washington, D.C. Limited to 75,000 coins, which will immediately make it the 4 ^th rarest coin of the series after the 1995-W Proof and 2019-S Enhanced Reverse Proof and the 2008-W with Reverse of 2007 burnished uncirculated coins, intense demand is expected for this new key coin.

The Mint is also issuing a $10, 24 karat gold coin and silver medal featuring an obverse that depicts an eagle in flight, facing the olive branch it grasps in its right talon. The olive branch symbolizes peace. The eagle design is inspired by the 1945 version of the Great Seal of the United States. In 1945, the eagle on the Great Seal switched from looking toward the arrows of war to looking toward the olive branch of peace. The reverse features a sun shining on olive branches. The sun resembles the sun rising behind Liberty on the obverse of the 1945 World War II Victory Medal. The medal was issued to those who served in the U.S. Armed Forces from December 7, 1941 to December 31, 1946.

Artistic Infusion Program (AIP) artist Ronald Sanders created the obverse design. Mint Medallic Artist Phebe Hemphill sculpted it. The reverse design was created by AIP artist Donna Weaver and sculpted by Mint Medallic Artist Renata Gordon.

New design

Next January, when the 2021 American Silver Eagle bullion coin debuts, it will for the first time feature a new reverse design to replace the heraldic eagle that was on it from 1986 to 2020. The obverse based on Adolph Weinman’s legendary Walking Liberty design will not be changed. The Mint has not yet announced which design will be used. Earlier this year, the two design committees recommended different designs with the Citizens Coinage Advisory Committee recommending a bold image of a close-up profile of the head of an eagle, while the Commission on Fine Arts suggested using a more traditional design of a flying eagle preparing to land while clutching an oak branch in its talons. Secretary of the Treasury Steven Mnuchin will soon make the final selection.

Silver Eagle Price

As of 2024, the price for a Silver American Eagle coin is around $34.35 per ounce. This price can vary slightly depending on the dealer and market conditions throughout the day. Prices are updated frequently based on the ongoing spot price of silver, which is influenced by various factors including supply and demand, geopolitical events, and economic data.

The premium over spot for a bullion Silver Eagle ebbs and flows with a changing market. Today with very high demand, they run at least $7 over spot for retail sale. Most dates sell for about $35 today except for the first coin from 1986 and the 1996 (the lowest mintage at 3.6 million).

Examples graded MS69 sell for just a few dollars more than a raw mint state coin at about $40, while  MS70s currently bring about $65.

With the collector coins, prices depend on mintages, demand and grade with the two lowest-mintage coins, the 1995-W and 2019-S Enhanced Reverse Proof, bringing $15,000 and $2,000 respectively in the top grade of PF70. Generic (common date) proof issues run about $100 for PF70 and about $70 for PF69 -- the same for an ungraded proof except for a couple dates that run more. Proof 70s of the coins from the 1980s are more valuable, and even more valuable are the MS70 coins from that period.

Silver Eagles for sale

We have an extensive inventory of American Silver Eagles, including  mint state coins, proof coins, burnished coins, sets and the special 2020 (P) emergency issues produced during the early phase of the covid-19 pandemic.

FAQ

What is the current value of an American Silver Eagle coin?

The value of an American Silver Eagle is primarily determined by the current spot price of silver, which fluctuates daily. In addition to the spot price, there may be a premium based on the coin's condition, rarity, and demand. As of today, the value is around $34.35 per coin.

What is the history of the American Silver Eagle?

The American Silver Eagle was first issued in 1986 by the U.S. Mint as part of the American Eagle Bullion Program. It was created to provide investors with a reliable means of purchasing silver. The design features a depiction of Lady Liberty on the obverse and a heraldic eagle on the reverse.

What are the key features of the American Silver Eagle coin?

The American Silver Eagle is a 1-ounce silver coin with a purity of 99.9% silver (.999 fine silver). It has a face value of $1, although its actual market value is based on its silver content. The coin has a diameter of 40.6 mm and a thickness of 2.98 mm.

What are the most valuable American Silver Eagle coins?

The most valuable American Silver Eagle coins are typically the early proofs, special editions, and coins with minting errors. For example, the 1995-W Proof Silver Eagle is highly prized among collectors due to its low mintage. Some error coins, such as those with a missing mint mark, can also fetch high prices.

How can I tell if my American Silver Eagle is genuine?

To verify the authenticity of an American Silver Eagle, you can check its weight, diameter, and thickness against the official specifications. You can also inspect the coin's design details and edge lettering. For further verification, consider using a magnifying glass to check for small details or using a silver verification tool.

What is the difference between a bullion and a proof American Silver Eagle?

Bullion American Silver Eagles are made for investors and have a standard uncirculated finish. Proof Silver Eagles, on the other hand, are struck multiple times with specially polished dies to give them a mirror-like finish, making them more desirable to collectors. Proof coins also typically carry a higher premium.

Are American Silver Eagles a good investment?

American Silver Eagles are considered a good investment for those interested in holding physical silver. They are recognized worldwide and have a guaranteed weight and purity by the U.S. government. Their value can rise with increases in the price of silver and collector demand.

What is the mintage of the American Silver Eagle?

The mintage of American Silver Eagles varies by year. For example, in 2021, over 28 million bullion Silver Eagles were minted. Limited mintage years and special releases can increase the value of specific coins. Detailed mintage numbers can be found on the U.S. Mint's website or in numismatic catalogs.

How do I store American Silver Eagle coins?

American Silver Eagles should be stored in a cool, dry place, preferably in a protective case or coin tube to prevent damage. Avoid touching the coin's surface directly, as oils from your fingers can cause tarnishing. For long-term storage, consider a safe deposit box or a secure home safe.

What are the most popular years for American Silver Eagles?

Some of the most popular years among collectors include the inaugural 1986 release, the 1995-W Proof due to its rarity, and the 2021 Type 2 release, which introduced a new reverse design. Special anniversary years, such as 2006 (20th anniversary) and 2021 (35th anniversary), are also highly sought after.

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