Among numismatists, the American Silver Eagle is surely democratic. In November 2019, the United States Mint released a limited-edition San Francisco mint mark Reverse Proof. Collectors were so capture, the stallion 30,000 mint sold out in 20 minutes .
The Mint tried to prevent roll up by limiting sales to one per customer. Yet, despite this limit, the sale of the 2019-S Enhanced Reverse Proof American Silver Eagle crashed the Mint ’ s web site.
So the Silver Eagle ’ randomness popularity is undeniable. But is it in truth worth the hype ?
Some numismatists compare buying it to investing in the Morgan dollar. In November 2020, a rare Morgan dollar variant sold for $ 750,000 USD at auction. tied typical Morgan dollars are faithfully valuable .
And, there are so many variants, Morgan dollar gather has become its own numismatic specialization. similarly, there are multiple limited-edition american Silver Eagle varieties .
Because of these similarities, the american Silver Eagle is a great bullion coin if you want to hedge against ostentation. And, it might be the next Morgan dollar in terms of value .
American Silver Eagle: Ideal Bullion Coin
bullion coins aren ’ thymine used for commerce. alternatively, countries mint bullion coins as investment assets. Mints print bullion coins in precious metals and weigh them in troy ounces. In the United States, the Treasury Department might grant the coin a face value but in most cases, the survey value is higher. Congress declared the font measure of the american Silver Eagle to be one dollar. The mint contains at least one troy ounce of 99.9 % pure silver .
The U.S. Treasury intends american english Silver Eagle coins as investing pieces and collector ’ randomness items. The IRS allows investors to contribute these bullion coins to their Individual Retirement Account (IRA) funds .
The american Silver Eagle ’ s composition and utility as an IRA contribution make it a estimable bullion coin on its own. But its unique history makes it an even better investment than most .
Background of the American Silver Eagle Coin
U.S. Mint Director Donna Pope chose the Liberty Walking design for the grimace of the coin. The sculptor Adolph A. Weinman primitively created the invention for the Walking Liberty half dollar in 1916. She besides appointed John Mercanti to design the Eagle itself. Mercanti is an american sculptor who served as the 12th chief engraver of the United States Mint from 1974 to 2010 .
Mercanti ’ s eagle purpose encompasses a shield, a standard, and 13 stars .
The Liberty Coin Act (1985)
The U.S. Mint created the american Silver Eagle in response to the Liberty Coin Act. Congress passed the Liberty Coin Act in 1985. Before this act, unlike members of Congress proposed unlike strategies to sell off government-owned silver, hoping to decrease the budget deficit .
The National Defense Stockpile housed most of the silver. It secures and stores bleak materials for future use in battle. It maintains these materials in the stock. By 1976, the Defense Department had secured more silver than necessity, which affected the economy .
previous proposals to sell off the supernumerary eloquent were defeated in Congress. In 1981, the House Armed Services Committee tried to move ahead with the sale, but the price of silver dropped 11 % when the sale was announced. The design was opposed by silver miners and some military leaders and was therefore shelved .
last, in 1985, Congress came to a feasible compromise : The Liberty Coin Act. This act enabled the Department of Defense to sell off excess silver without depressing the price of silver. To do this, sold the eloquent in the form of coins .
The Treasury purchased the silver immediately from the Defense Logistics Agency. then, it used the bare-assed material to mint american Silver Eagle bullion coins. Sales of these coins buoyed the federal budget .
American Silver Eagle Bullion Program Extended (2002)
The Treasury had successfully depleted the National Defense Stockpile ’ s silver reserves by 2002 and per the original Liberty Coin Act, the Mint would stop producing the coin. The mint had served its determination .
But since the American Silver Eagle was so democratic, members of Congress pushed to continue production. In 2002, Senator Harry Reid ( D-NV ) created the Support of American Eagle Silver Bullion Program Act .
This act empowered the Treasury to purchase more silver on the capable market. The bill specified the Treasury was to use this modern silver to mint more Silver Eagle Bullions. Congress passed the act that year .
Recession Impacts Coin Value (2008-2010)
requirement for the american Silver Eagle coin skyrocketed in 2008. The United States ’ economy began to slide into a recess. To keep their portfolios from failing, investors turned to bullion coins.
Between February and March 2008, American Silver Eagle coin sales increased by 900 %. In April, the Mint began rationing sales of the coin. By June, the Mint was able to increase production to keep up with demand .
No Proof editions of the coin were struck in 2009, and no Uncirculated Silver Eagles were struck in 2009 and 2010. In December 2010, the Coin Modernization, Oversight, and Continuity Act empowered the Treasury to mint adequate american english Eagle coins to meet requirement .
The act granted the Treasury once again the ability to mint american Eagle bullion coins in silver medal arsenic well as gold. It besides enabled the Treasury to mint more Proof and Uncirculated versions of the coin .
Despite the 2010 act, demand for the american Eagle bullions surpassed supply in 2013. once again, the Mint rationed the coins.
In July 2015, the Mint produced a fresh swath of american Silver Eagle coins. These sold out in one week .
COVID-19 Halts Production (2020)
COVID-19 fitful American Silver Eagle coin production in 2020. At the clock time, lone the West Point Mint minted american Silver Eagle bullions. union regulators shut down the West Point Mint when an employee contracted the COVID-19 virus. They reopened the mint on April 1, but on April 15, the U.S. Treasury closed its West Point adeptness indefinitely over safety concerns .
The Philadelphia Mint attempted to recoup the loss. It produced 240,000 American Silver Eagle coins in April 2020. Evaluators label these coins “ Emergency Eagles ”. These hand brake editions generated controversy, with collectors bought them at four times the price of West Point Mint coins .
The CDC cleared the West Point Mint to resume production at the end of April 2020 .
Reverse Side Re-Design (2021)
In 2021, the U.S. Mint retired John Mercanti ’ s Eagle design. The fresh american english Silver Eagle coins feature an eagle bring on a branch on the reverse side. U.S. Mint Director David J. Ryder chose Emily Damstra to create the design. Damstra ’ sulfur work is biologically accurate quite than symbolic .
American Silver Eagle Value
The face value of the american Silver Eagle coin is $ 1.00, but most buyers appraise american Silver Eagle coins by their measure in an investment portfolio .
As of 2020, the average american Silver Eagle coin is deserving $ 30. This is slenderly more than the dissolve prize of the mint. The silver in the american Eagle is worth approximately $ 24 .
That said, many varieties are prized by collectors. You might sell these versions of the american Silver Eagle for well more than $ 30 at an auction .
Select Silver Eagle Variants and Rarities
Silver Eagle variants and rarities have a higher numismatic value than their thaw value. here are six out of several american Silver Eagle coins that attract extra interest from collectors .
In 2018, an auction sold a 1990 American Silver Eagle mint for $ 13,000. This bullion mint has no mintmark .
The distinctive numismatic value of these coins ranges from $ 37 to $ 12,925. The median range for MS-70 variants hovers between $ 1,000- $ 3,000. Collectors by and large sell 1990 Silver Eagles in lower grades for less than $ 200 .
In 2013, auctioneers sold a 1994 American Silver Eagle mint for $ 11,163. This was unusual. Most collectors have sold MS-70 1994 Silver Eagles for $ 1,000- $ 6,000 .
The prize of this 1994 silver bullion shot up in 2000. It hasn ’ thymine regressed towards the bastardly so far. But, so army for the liberation of rwanda, auctioneers have only sold lower-rated versions of this coin for less than $ 200 .
2008-W Reverse of 2007 Variety
In 2007, the U.S. Mint abruptly altered the intend design for the 2008 Silver Eagle coin. As a result, the Mint by chance struck some 2008 coins with the reverse 2007 die .
These reverse-strike error coins are comparably rare. Numismatists estimate only 45,000 of these coin variants exist .
identical few collectors have auctioned these random variable coins. In 2013, one collector sold a reverse-2007 Silver Eagle form for $ 3,190. Numismatists estimate the typical measure of these variants ranges from $ 475 to $ 1900 .
1993 Philadelphia Set Variant
To celebrate its bicentennial in 1993, the U.S. Mint released a special version set of Silver Eagles. The Philadelphia sets included an american Silver Eagle Proof, an american Gold Eagle Proof, and a U.S. Mint Bicentennial decoration .
In 2013, a collector sold a Silver Eagle Proof from this set for $ 7,638. notably, this coin is rare because it is Uncirculated and MS70 .
The 1999 American Silver Eagle bullion coin holds the auction record. In 2013, auctioneers sold an MS-70-rated american Silver Eagle for $ 13,000 .
While there international relations and security network ’ t a clear reason numismatists respect this 1999 variant so highly, we can make a few guesses. 1999 was the only class the West Point Mint and Philadelphia Mint produced this bullion coin .
The bullion interpretation bears no mintmark. While there are batch of Uncirculated 1999 Silver Eagles, high-end versions are rare .
Evaluators estimate over seven million of these coins survive. But few of them are MS70.
Read more: Coin collecting – Wikipedia
You ’ ll typically find 1999 american Silver Eagle coins selling from $ 33 to $ 9,899. The median crop hovers between $ 100- $ 200 .
Will the Silver Eagle Coin Be Worth More Later?
interest in Silver Eagle coins is growing cosmopolitan. New buyers in Hong Kong, Singapore, and China have only pushed demand up. As the U.S. Mint continues to produce modern mintings, the mint ’ sulfur popularity seems catching .
No one can predict the demand value of a coin in the future. But, as a bullion mint with a alone inheritance, the american Silver Eagle is shaping up to be a fresh investing.