American Silver Eagle Mintage and Collectibility

The American Silver Eagle is one of the most popular and collectible coins in the world, with a mintage that has been steadily increasing over the years.

With a total mintage of over 500 million coins, the American Silver Eagle is a highly sought-after collector's item.

The coin's popularity can be attributed to its high silver content and the fact that it is the only silver bullion coin backed by the US government.

Collectors and investors alike are drawn to the coin's beauty and the assurance that it is made from 1 troy oz of .999 fine silver.

The American Silver Eagle program has experienced periods of high demand, leading to sell-outs and rationing. In 2013, the Mint suspended sales after the first week due to high demand, and resumed the allocation program that had been implemented from 2008 to 2010.

The Silver Eagle coins sold out in the first week of July 2015, and the Mint resumed sales at the end of July 2015. This was the second time the mint's silver coins had sold out in the past nine months.

In 2013, the historic drop in silver increased demand for silver coins, forcing the mint to ration silver coin sales for 18 months. The Mint ran out of 2014-dated American Eagles in November 2014.

Here are some notable mintage figures for the American Silver Eagle program:

The first American Silver Eagle coin was struck in San Francisco on October 29, 1986. Secretary of the Treasury James A. Baker III presided over the striking ceremony held at the San Francisco Assay Office.

The San Francisco Mint played a significant role in the early years of the Silver Eagle program, producing coins from 1986 to 1998. This was the only mint involved in production during this period.

From 1999 to 2000, the Philadelphia Mint and West Point Mint joined the San Francisco Mint in producing bullion Silver Eagle coins. This marked a significant expansion of the program's capacity.

In March 2011, the San Francisco Mint conducted trial strikes of bullion Silver Eagle coins in preparation for the resumption of full production later in the spring. This added production capacity helped supplement the output of the West Point Mint.

Here's a breakdown of the mints involved in producing American Silver Eagle coins:

The American Silver Eagle bullion coins had a rough start in 2013, selling out in the first week due to high demand. The Mint suspended sales and resumed the allocation program that had been in place from 2008 to 2010.

The Silver Eagle coins were sold out again in July 2015, prompting the Mint to resume sales at the end of the month. This was the second time the mint's silver coins had sold out in the past nine months.

The Mint ran out of 2014-dated American Eagles in November 2014, highlighting the high demand for these coins. The historic drop in silver in 2013 further increased demand, forcing the mint to ration silver coin sales for 18 months.

Here are some key dates to remember:

The American Silver Eagle has a unique mintage history, and one interesting aspect is the Uncirculated coins.

From 2006 to 2008 and beginning again in 2011, the United States Mint issued a collectible uncirculated Silver Eagle coin produced at West Point.

The coins are struck on specially burnished blanks and sometimes are referred to as "W Uncirculated" or "Burnished Uncirculated".

There has been one burnished Eagle issue produced at San Francisco bearing the "S" mintmark for release in the "American Eagle 25th Anniversary Silver Coin Set" in 2011.

The West Point Mint was shutdown from April 15 to April 21, 2020, due to the Coronavirus Pandemic, and minting of Silver Eagles was briefly shifted to the Philadelphia Mint.

The 2011-S Silver Eagle has the lowest mintage among mint state American Silver Eagles, with a total of 99,882 coins minted.

The U.S. Mint has produced a staggering 673,982,637 American Silver Eagles from 1986 to 2024.

The Philadelphia, West Point, and San Francisco Mint facilities are where American Silver Eagles are struck.

The 1995-W Proof Silver Eagle has the lowest mintage among Proof American Silver Eagles, with a total of 30,125 coins minted.

The 2008-W Silver Eagle Reverse of 2007 is the only recognized variety of American Silver Eagle.

NGC and PCGS are the two leading coin graders in the industry, certifying the majority of submissions. Nearly 14 million Silver Eagles have been certified by NGC alone.

Collectors use the NGC Silver Eagle Census Report to track the populations of their coins and potential acquisitions. This report details how many coins have been graded for each year and what those are.

The total mintage for the American Silver Eagle is 673,982,637.

The American Silver Eagle has several types and issues, each with its own unique characteristics.

Proof American Silver Eagle coins were sold directly to the public by the United States Mint from 1986 through 2008, packaged in a protective plastic capsule and a satin-lined, velvet-covered presentation case.

Uncirculated coins, on the other hand, were sold directly to the public by the United States Mint from 2006 through 2008, also in packaging similar to proof coins, except for the 2006 coin which came in a velvet drawstring bag.

Special issues and sets are sold directly to the public by the United States Mint, offering collectors a variety of options to suit their interests.

The design of the American Silver Eagle has undergone some changes over the years. The obverse, or front side, of the coin features the iconic "Walking Liberty" design by Adolph A. Weinman, which was originally used on the Walking Liberty Half Dollar coin from 1916 to 1947.

This design was revived for the Silver Eagle in the 1980s and has since become a beloved part of American coinage. The obverse is inscribed with the year of minting or issuance, the word LIBERTY, and the phrase IN GOD WE TRUST.

In 2021, the obverse was slightly updated to feature a new rendering of Weinman's design and the addition of his artist mark under IN GOD WE TRUST. The changes are subtle but noticeable.

The reverse, or back side, of the coin has also undergone changes. From 1986 to 2021, the reverse design was by John Mercanti and featured a heraldic eagle behind a shield. This design was slightly modified starting with 2008 coins, with the addition of a serif on the U of UNITED and a slight change between SILVER and ONE.

The 2021 American Silver Eagle (Type 2) features a new reverse design by Emily Damstra, which shows an eagle landing on a branch. This design is similar to that of the 1971 Eisenhower Dollar Coins.

Special issues from the United States Mint can be a great addition to any collection.

In 2010, Mint Director Edmund C. Moy testified before the House Subcommittee on Domestic Monetary Policy and Technology about proof and uncirculated Silver Eagle coins, suggesting the possibility of a legislative solution.

Special issues are sold directly to the public by the United States Mint, and they can be a great way to get unique coins that stand out from the rest.

These special issues can include coins from specific mints, such as the San Francisco mint, which produced proof Silver Eagle coins from 1986 to 1992, bearing the "S" mintmark.

In 2009, no proof versions of the Silver Eagle coin were minted, making coins from that year particularly rare and valuable.

Special issues can also include coins from specific years, such as the 2006 coin, which was sold directly to the public by the United States Mint in a velvet drawstring bag.

Starting again in 2010, proof coins were minted at West Point and bear the "W" mintmark, making them a great addition to any collection.

The Silver Eagle series has a significant variety that appeared in 2008, known as the "2008-W Silver Eagle Reverse of 2007 Variety".

This variety occurred due to a die error made by the United States Mint, which inadvertently struck some 2008 uncirculated coins with the 2007 reverse type die.

The "2008-W Silver Eagle Reverse of 2007 Variety" is distinguishable by differences in the "U" in UNITED STATES and the dash between SILVER and ONE.

The American Silver Eagle bullion coin has several security features to prevent counterfeiting.

The reeded edges of the coin are a visual and tactile authentication measure, making it difficult to tamper with the coin.

Coins produced from 2021 have an additional anti-counterfeiting feature: a missing reed or notch on its edge that changes depending on the mintage year of the coin.

The coin's intricate designs and high-definition details, such as the finely engraved inscriptions and the realistic rendering of the Walking Liberty image, are also difficult to replicate.

A unique mint mark is featured on the Silver Eagle, indicating the specific U.S. Mint facility responsible for its production.

This mint mark enhances the coin's traceability and helps verify its origin.

The American Silver Eagle bullion coins have a face value of US$1, which is their legal value reflecting their issue and monetization as coins. This value is set by law and makes them legal tender for all debts public and private.

The face value of $1 does not reflect their intrinsic value, which is much greater. The intrinsic value is mainly dictated by the fluctuating silver spot price and ongoing supply-demand.

Most bullion versions of the Silver Eagle coins are minted in the millions, making them relatively affordable. As of September 2016, most dates of the bullion issue can be traded at a premium above the intrinsic value of the silver they contain, for around $25.

Proof and uncirculated versions, on the other hand, are issued in the hundreds of thousands each and sell for more. As of 2016, most proof versions sell for around $65-$75, while uncirculated versions sell for around $25-$75.

Some issues, like the 1995-W proof, can sell for significant sums. The 1995-W proof, for example, sold for $3,800 as of 2016.

Sales of American Silver Eagle bullion coins began on November 24, 1986, and initial inventories sold out immediately due to phenomenal demand.

The coins are not sold directly to the public by the United States Mint, but instead are distributed through a network of authorized purchasers. These purchasers must meet specific requirements, including being an experienced market maker in silver bullion coins and having a liquid two-way market for the coins.

Authorized purchasers must order a minimum of 25,000 coins, which they then sell to secondary retailers that sell them to the public. The coins are shipped in "monster boxes" that hold 500 coins packaged in 20-coin plastic tubes.

Each green plastic box has two raised Department of the Treasury seals and the phrase "United States Mint" in raised lettering. Before shipping, the boxes are sealed with straps by the Mint and labeled with the year of issue and a serial number.

The United States Mint awards a contract to assist in marketing and publicizing the coins domestically and internationally. This contract was awarded to Grey Advertising, which expanded advertising efforts in fiscal years 1987 and 1988.