Investors and coin collectors alike love the American Silver Eagle coins. But for a long time it was highly questionable whether or not the Silver American Eagle coins would ever be minted. Here’s a brief history of how these coins came to be.

From the 1970s through the early 1980s several administrations were determined to sell off silver from the Defense National Stockpile. Their intent presumably was to reduce the federal deficit.

Although they argued that the domestic production of silver far exceeded the strategic needs at the time, mining state interests opposed any legislation aimed at selling the stockpile.

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2011 US $1 American 1oz Fine Silver Eagle Dollar UNC Uncirculated    US $38.25

2007 P Silver American Eagle $1 NGC MS 70 Gold Label    US $67.10

2006 W Burished silver american eagle with Box COA and Velvet bag    US $54.99

5 2012 1 Ounce American Silver Eagle GEM BU Coins 999 Fine Silver Uncirculated    US $171.61

2008 P Silver American Eagle $1 NGC MS 70 Gold Label    US $63.01

2009 $1 AMERICAN SILVER EAGLE NGC MS70 EARLY RELEASE    US $91.01

2011 W PF70 ULTRA CAMEO 25TH ANNIVERSARY American Silver Eagle 9999 PROOF NGC    US $90.00

2012 American Silver Eagle Dollar Coin 1 Troy Ounce Of 999 Fine Silver GEM BU    US $34.23

2010 AMERICAN EAGLE SILVER PROOF DOLLAR w USMINT BOXES AND COA NO RESERVE    US $54.01

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During that time, whenever sporadic sell offs were pushed through, or even announced, the price of silver immediately plummeted.

In September 1976 the Wall Street Journal reported that when “the US government makes noises about selling silver from the federal stockpile, futures traders start unloading futures contracts in speculation that such a sale would depress prices.”

The House Armed Services Committee Decides to Sell Silver

Nonetheless, the House Armed Services Committee decided on June 10, 1981 to approve the Reagan administration’s request to sell stockpiled silver at the beginning of the 1982 fiscal year so that the federal budget could be balanced.

Both the House and Senate approved the sale of 105.1 million troy ounces of silver over a three year time span. This represented 75% of the silver that was in the US stockpile.

Politicians Block the Sale

Right before the first sale was about to begin a group of Idaho politicians tried to block the auction. They claimed that in addition to having a “disastrous effect” on the silver mining industry in the United States it would particularly affect a number of silver mining companies in Idaho.

As a result, an appropriations billed was signed that stopped the sale until July 1, 1982. Within that time frame the President was advised to redetermine “that the silver authorized for disposal is excess to the requirements of the stockpile.” At the time it looked like Silver American Eagle coins were doomed.

McClure Tries to Pass a Bill to Issue the Silver American Eagle Coin - And Fails

Five weeks before the July deadline Senator James A. McClure (R-Idaho) introduced a bill that proposed that the National Defense Stockpile of silver be disposed of through the issuance of silver coins. He felt that this would minimize the effect on the price of silver.  There was now some home for the Silver American Eagle coins.

Soon after the price of silver soared.

McClure Tries Again - And Fails Again

At the end of January, 1983, Senator McClure tried again and introduced virtually the same bill. Once again it did not get past the committee.  Silver American Eagle coins were still waiting in the wings.

McClure Finally Gets His Way with the Liberty Coin Act - The Silver American Eagle Becomes Reality

Finally, two years later, Senator McClure got his way when he added an amendment to another bill. This amendment – the Liberty Coin Act – authorized the Secretary of the Treasury to mint and issue silver bullion coins as well as coins that had numismatic and legal tender status.  It looked like Silver American Eagle coins would soon become a reality.

The bill became law when President Regan signed it on July 9, 1985. Thus, the American Silver Eagle bullion program was born.  Finally people around the world would be able to invest in the Silver American Eagle coins.

The American Silver Eagle Becomes a Hit

The program proved to be extremely popular. By 2002 so many people were investing in the Silver American Eagle that it was obvious that the stockpile would be depleted in the near future.

Subsequently another bill, S. 2594 – the Support of American Eagle Silver Bullion Program Act – was passed and signed into law by President Bush on the 23rd of July, 2002. This bill authorized “the Secretary of the Treasury to purchase silver on the open market when the silver stockpile is depleted.”  Thus, the Silver American Eagle coins would continue to be minted.

Since 1986 more than 200,000,000 Silver American Eagle bullion coins have been minted and sold by the US Mint.

A Brief History of the Silver American Eagle Coin is a post from: Silver American Eagles

It starts when burnished coin blanks are hand fed into presses that are fitted with unique dies. Then each of these coins is struck multiple times. As a result the beautifully detailed, softly frosted image that is produced looks as if it is floating above a mirror like field.

Next inspectors don white gloves and scrutinize each and every coin. If it meets the mint’s high standards the American Eagle Silver Proof Coin is then sealed in a protective plastic case and put into a presentation case lined with velvet. Each coin then gets its own official Certificate of Authenticity.

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2011 W PF70 ULTRA CAMEO 25TH ANNIVERSARY American Silver Eagle 9999 PROOF NGC    US $90.00

2010 AMERICAN EAGLE SILVER PROOF DOLLAR w USMINT BOXES AND COA NO RESERVE    US $54.01

2011 AMERICAN EAGLE SILVER PROOF DOLLAR w USMINT BOXES AND COA NO RESERVE    US $56.00

2010 W US Mint American Eagle Silver Proof Dollar    US $59.05

2012 AMERICAN EAGLE SILVER PROOF DOLLAR w USMINT BOXES AND COA NO RESERVE    US $58.25

1999 P American Eagle Silver Proof Coin With COA Box    US $55.00

2005 W American Eagle Silver Proof Coin With COA Box    US $55.00

2011 Silver American Eagle Proof PS4 in OGP w COA    US $58.00

2004 W American Eagle Silver Proof Coin With COA Box    US $55.00

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Because these coins are minted by the US Mint, every one of these limited edition coin’s purity, weight, and content are guaranteed by the US government.

Silver American Eagle Proof coins have been produced since 1986 and are available in a one ounce size. These coins would be a striking addition to any coin collector’s portfolio.

Silver American Eagle Proof Coins is a post from: Silver American Eagles

The American Gold Eagle was authorized under the Gold Bullion Coin Act of 1985. An official gold bullion coin of the United States, it was first released in 1986 by the United States Mint.

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1995 $10 American Gold Eagle US Bullion 1 4 Oz AU Condition $99 No Reserve    US $450.00

2007 P Silver American Eagle $1 NGC MS 70 Gold Label    US $67.10

2008 P Silver American Eagle $1 NGC MS 70 Gold Label    US $63.01

2007 LIBERTY AMERICAN EAGLE $5 FIVE DOLLAR 1 10 OZ FINE GOLD COIN    US $189.50

United States Gold $5 1999 Bullion 1 10 oz American Eagle    US $182.50

2003 GOLD AMERICAN EAGLE $25 BULLION COIN PROOF 1 2 OZ FINE GOLD SAINT GAUDENS    US $839.00

1986 $50 GOLD PROOF 1 OZ AMERICAN EAGLE ORIG GOVT PCKG COA 1st Yr Of Issue    US $1,777.00

BEAUTIFUL 1998 $1000 1 4 OZ AMERICAN EAGLE GOLD COIN UNCIRCULATED    US $430.00

1986 $5 GOLD AMERICAN EAGLE 1 10 OZ 1ST YEAR OF RELEASE    US $182.45

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The obverse of the coin features the Augustus Saint-Gaudens design that was popular on the $20 double eagle which dates back to 1907. It’s a beautiful rendition of Lady Liberty. This striking full length figure, with long flowing hair, holds an olive branch in her left hand and a torch in her right hand. The Capitol building can be seen on the left in the background.
The reverse was designed by the sculptor Miley Busiek. It features a male eagle who flies above a nest that is home to both a female eagle and her hatchlings. The flying eagle is holding an olive branch as well.

These coins are offered in 1 ounce, ½ ounce, ¼ ounce, and 1/10 ounce denominations. The one ounce gold coin, for example, actually weight 1.0909 troy ounces (33.930 grams). Their face values are $5, $10, $25 and $50 respectively. The face values don’t reflect the intrinsic value of the coins although these coins are legal tender and the face values reflect their legal values for all debts private and public at their face value.

The actual market value of the American Gold Eagle bullion coins are substantially more than their face value. They correspond to the market value of gold and fluctuate from one day to the next to the spot price of gold. Each coin is comprised of .9167 gold, with the balance of the weight being a combination of silver and copper to make the coin more wear resistant.
In addition to bullion coins, the US Mint also produces proof versions of the Gold American Eagle for coin collectors.

The American Gold Eagle – An Overview is a post from: Silver American Eagles

Silver Eagles that have been graded either MS-69 or MS-70 have started to become more popular over the past few years.

MS-70 is the highest grade available and until quite recently coin grading services did not grade many American Silver Eagles MS-70. In order to achieve an MS-70 grade according to PCGS, a coin must have “flawless surfaces under 5x magnification”.

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2007 P Silver American Eagle $1 NGC MS 70 Gold Label    US $67.10

2008 P Silver American Eagle $1 NGC MS 70 Gold Label    US $63.01

2009 $1 AMERICAN SILVER EAGLE NGC MS70 EARLY RELEASE    US $91.01

2012 1oz American Silver Eagle PCGS MS70 First Strike    US $61.00

2008 1oz American Silver Eagle PCGS MS70 Flag Label    US $68.00

2011 EAGLE 25th ANNIVERSARY $1 AMERICAN SILVER EAGLE EARLY RELEASES NGC MS 70 ER    US $63.00

2006 American Eagle Uncirculated 1oz Silver $1 Dollar Coin ICG MS 70 First Day    US $46.00

2011 S MS 70 PCGS SAN FRANCISCO FIRST STRIKE AMERICAN SILVER EAGLE PERFECT    US $66.00

2012 W MS 70 WEST POINT MINT PCGS CERTIFIED FIRST STRIKE AMERICAN SILVER EAGLE    US $82.00

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Prior to mid 2007 PCGS was adverse to grading any Silver Eagles MS-70 due to the significant possibility that milk-spotting would form on the surface of the coins. Milk-spotting was known to have happened even after a coin had be “slabbed”.

In the first twenty-one years of uncirculated American Silver Eagles only 16 coins had attained an MS-70 grade. PCGS (Professional Coin Grading Service), one of the two most respected coin grading services – the other being NGC – started to grade 2006 and 2007 Mint State Silver American Eagles on June 28, 2007.

By March 31, 2008 PCGS had certified 3,053 2007-W MS-70 First Strike Silver Eagles. Approximately 400 additional 2007 Silver Eagles were graded MS-70 over the next year.

By the spring of 2009, PCGS had graded 10,100 2008 American Silver Eagles MS-70 and 18,875 2009 Silver American Eagles received an MS-70 PCGS grade as well.

If you do decide to invest in MS-70 Silver American Eagle coins consider purchasing only coins that were graded by a first tier grading service – either PCGS or NGC. And take the number of coins that were graded MS-70 for any particular year into account.