Did you know some coins are purposefully minted with an intrinsic value far exceeding their face value? These coins are known as bullion coins and are prized for their high-grade metal composition, rather than their displayed face value. One of the most popular examples is American Silver Eagle coins, which are the official silver bullion coin of the United States. Find out more about the history behind the Silver Eagle and how you can start collecting them today.
Origins of the American Silver Eagle
In 1986, the U.S. government passed the Liberty Coin Act, allowing the U.S. Mint to begin minting annual gold and silver bullion coins for interested collectors and investors. The silver ones became known as Silver Eagle Coins, with a design that has maintained general consistency throughout time. No matter the year of production, each Silver Eagle weighs 1 Troy oz and is composed of 99.9% silver. While these coins come in a variety of finishes, such as proof or burnished, none of these coins ever sees circulation. They are designed to meet the public demand for high-grade precious metals among collectors and investors.
Silver Eagle Coin Design Over Time
While Silver Eagle coins have been around for over forty years, the designs have stayed fairly consistent throughout the decades until recently. The obverse side features artwork by artist Adolph Weinman called “Walking Liberty.” Meanwhile, the reverse side was designed by John Mercanti and showed an eagle carrying a shield and olive branch. For years, this remained the recurring design. In 2021, to celebrate the 35th anniversary of the American Silver Eagle, the U.S. Mint updated the reverse design to show the eagle trading its signature olive branch for an oak branch and the bird coming in for landing in its nest. This new design has remained on the reverse side since 2021.
Silver Eagles Gaining Value
Like all coin series, the individual value of different Silver Eagle pieces varies greatly from year to year. While mintage numbers are typically set at a lower rate for these bullion coins, some years have very few coins minted. The 1995-W Silver Eagle, for example, only had 30,125 proof coins minted because it was exclusively available through the 1995 10th Anniversary five-coin set. A 1995-W American Silver Eagle proof has sold for over $80,000 at auction.
Another example of high-value Silver Eagles includes the 2011 25th Anniversary coin. Mintage levels were held strictly at 100,000 for this particular set, creating built-in exclusivity right from the start. This set sold out the same day it was released.
While not as extreme, other years, including 1990, 1994, and 1999, have lower mintage rates as well.
The Future of American Silver Eagles
American Silver Eagles are the best-selling silver coin in the world today. Between the popularity and demand for silver coins from collectors, as well as the continued interest in silver from a broader technological and industrial standpoint, the future of these coins looks bright. Although American Silver Eagle sales have declined since 2017, the decision to release these coins in different finishes may have helped renew interest in the series. Some experts have even suggested another design refresh could reinvigorate their popularity. However, with the weight of their history and mintage consistency, it is clear that Silver Eagle coins will continue to be around for quite some time.
Finding Your Own Silver Eagle
Due to their high quality, American Silver Eagles are a great series for collectors to focus on. At ModernCoinMart, we maintain a regularly rotating supply of Silver Eagles in various years, grades, and finishes available for collectors. Find the next Silver Eagle to complete your collection, or get started with your first coin through our trusted marketplace.
