Silver Eagle Coins - A Couple Neat Things And Figures You Want To Understand PDF Print E-mail
Written by Eric McMillan   
Monday, 30 August 2010 19:16
In popular literature, we are led to believe that trading in gold and silver only happen when these metals are shaped into bars and ingots, but we forget about gold and silver eagle coins. While it is true that majority the world's gold and silver are traded as bars, trade in investment of precious metals using a smaller form factor called bullion coins are gaining popularity. In the United States, silver eagle coins are the most common form of coinage for this commodity.
by EricMcMillan


In popular literature, we are led to believe that trading in gold and silver only happen when these metals are shaped into bars and ingots, but we forget about gold and silver eagle coins. While it is true that majority the world's gold and silver are traded as bars, trade in investment of precious metals using a smaller form factor called bullion coins are gaining popularity. In the United States, silver eagle coins are the most common form of coinage for this commodity.

A silver eagle coin only comes in one size and that is the size that contains at least one troy ounce of silver. With up to 99.9 percent of silver in its content as guaranteed by the United States Mint, the value of one of these coins is only a US dollar. It was in November of 1986 that this particular coin was released to the public weighing roughly 31 grams, and with dimensions of almost 3 millimeters in thickness and 40.6 millimeters in diameter.

There are only three mints in the United States that manufacture the American silver eagle coin and they are the Philadelphia, San Francisco, and West Point Mints. Coins have two faces, the obverse and reverse, or more commonly, the head and tail.

The obverse face of the silver coins has the well known 'Walking Liberty' icon that was designed by Adolph Weinman in 1916. Even with the phasing out of the silver coin, the design was so popular that the US Mint continued to print the design on today's silver coins. The reverse face of the coin is 13 stars with the heraldic eagle which was designed in 1986 by John Mercanti. Today, the reverse face shows the seal of the US in a different variation.

In 1986, when the very first silver American eagle coin was struck in the San Francisco Mint, James Baker, the former Secretary of the Treasury was present. Today the West Point makes silver bullion coins no longer have mint marks, but silver eagle coins are still legal tender.

Coin collectors usually can distinguish where a coin was made by looking at the letter on the coin that is printed to trace its origins. With the letters "W", "P" and "S" put on the coins, one can tell that they were made in West Point, Philadelphia, and San Francisco, respectively.

As a means to hedge against inflation because of the current economic crisis, silver eagle coins are in high demand such that rationing was implemented on a weekly basis. Today, distribution of silver coin takes place within an allocation program.

DISCLAIMER: This article is provided as information only and is not to be taken as financial advice.

Eric McMillan is an ex real estate guy, who markets online and is a coin collecting fanatic. Go to his site for additional info on the history and value of silver eagle coins. While you're there, grab your complimentary copy of his Guide to Gold and Silver Coins.