American Silver Eagle Bullion Coin Guide

The American Silver Eagle is a popular bullion coin that's been a favorite among investors and collectors alike for decades. It's the official silver bullion coin of the United States, and it's made from one ounce of 99.9% pure silver.

The American Silver Eagle was first introduced in 1986, and it's been minted annually since then. It's a beautiful coin that features Adolph A. Weinman's famous Walking Liberty design on the obverse side.

One of the reasons the American Silver Eagle is so popular is its high silver content and purity. Each coin contains one ounce of 99.9% pure silver, making it a great way to invest in silver or add to a collection.

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The design on the American Silver Eagle coin is a beautiful representation of American iconography. The obverse, or front side, features Adolph A. Weinman's "Walking Liberty" design, which was originally used on the Walking Liberty Half Dollar coin from 1916 to 1947.

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The Walking Liberty design showcases Lady Liberty in stride, with her right hand outstretched towards the horizon while her left arm cradles a bundle of oak branches. She is draped in the American flag, with the sun rising behind her.

The reverse side of the coin has undergone two major design changes. From 1986 to 2021, the reverse was designed by John Mercanti and portrayed a heraldic eagle behind a shield, echoing the Great Seal of the United States.

The Proof Design of the American Silver Eagle is truly stunning. The proof series features the same imagery as its bullion and burnished counterparts.

The obverse of the American Silver Eagle Proof coin showcases Adolph A. Weinman's "Walking Liberty" design, which was originally used on the Walking Liberty Half Dollar. This timeless depiction showcases Lady Liberty in stride, with her right hand outstretched towards the horizon while her left arm cradles a bundle of oak branches.

The reverse side of the American Silver Eagle Proof coin has undergone a change in 2021, with the introduction of a refreshed design, dubbed the type 2 design, created by Emily Damstra. This new portrayal displays a magnificent bald eagle preparing to land with an oak branch in its talon.

The type 1 reverse design, which was used for over three decades, featured a sharp-eyed eagle beneath a shield, its talons grasping an olive branch and arrows, with thirteen stars representing the original thirteen colonies above the eagle.

The proof finish of the American Silver Eagle is characterized by highly polished, mirror-like surfaces with sharp contrast and bold details. Some proof coins are deemed to have a cameo finish, which has frosted design details with contrasting mirrored fields in the background.

All proof coins are individually inspected with protective gloves for quality and strike before they are released, ensuring that only perfect coins are released to the public.

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The United States Mint sold proof American Silver Eagle coins directly to the public from 1986 to 2008. These coins came in a protective plastic capsule, a satin-lined, velvet-covered presentation case, and a certificate of authenticity.

The coins were packaged in a way that made them feel extra special. Proof Silver Eagle coins first became available through the United States Mint's subscription program in October 2002.

Uncirculated coins were also sold directly to the public by the United States Mint from 2006 to 2008. They came in packaging similar to the proof coins, but the 2006 coin's capsule was housed in a velvet drawstring bag.

Special issues and sets are sold directly to the public by the United States Mint.

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The American Silver Eagle has a rich history that's worth exploring. In 1982, Senator McClure introduced the first bill to provide for the disposal of silver from the National Defense Stockpile through the issuance of silver coins.

This bill aimed to redirect the sale of silver from the stockpile to minimize its impact on the depressed price of silver. However, it was referred to committees and never enacted. The Wall Street Journal reported that the price of silver soared after the government announced that sales of the stockpile would be indefinitely postponed.

Senator McClure introduced another bill in 1983, almost identical to the first one, which also proposed selling silver through the minting and distribution of a silver-bearing coin. This bill was referred to the Committee on Banking, Housing, and Urban Affairs but was not enacted.

In 1985, Senator McClure introduced an amendment to the Statue of Liberty-Ellis Island Commemorative Coin Act, which added a new section to the bill. This amendment, known as the Liberty Coin Act, authorized the Secretary of the Treasury to mint and issue silver bullion coins.

The Liberty Coin Act was proposed on June 21, 1985, and was added to the bill, which was signed into law by President Reagan on July 9, 1985.

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The first American Silver Eagle coin was struck in San Francisco on October 29, 1986. This historic event marked the beginning of a new era in American coinage.

Secretary of the Treasury James A. Baker III presided over the striking ceremony, which was held at the San Francisco Assay Office. He even got to press the electronic button on press No. 105, starting the San Francisco Silver Rush of 1986.

The ceremony was a significant moment in the minting history of the American Silver Eagle coin.

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In 1982, Senator McClure introduced a bill to dispose of silver from the National Defense Stockpile through the issuance of silver coins. This was an attempt to redirect the sale of silver and minimize its impact on the already depressed price.

The bill, S. 2598, was referred to committees but never enacted. An identical companion bill, H.R. 6649, was introduced by Representative Larry E. Craig, but it also failed to pass.

The government's decision to suspend sales of the silver stockpile led to a surge in the price of silver. The Wall Street Journal reported on June 30 that the price of silver "soared after Interior Secretary James Watt announced that sales of the government's silver stockpile will be indefinitely postponed".

Senator McClure introduced another bill, S. 269, on January 27, 1983, which proposed selling silver through the minting and distribution of a silver-bearing coin. This bill also failed to pass.

Here are the key points of McClure's amendment to H.R. 47, the "Liberty Coin Act":

The Senate agreed to McClure's amendment on June 21, 1985, and it was added to H.R. 47. The House approved the amended bill three days later, and it was signed into law by President Reagan on July 9, 1985.