The Silver Eagle is the verified silver bullion coin of the U.S. Mint. It is a legal tender in the U.S. and is a one oz silver coin.
The U.S. government assures the Silver Eagle’s weight and purity, and the coin can be traded independently based on factors like silver content, mintage, and beyond.
The Silver Edge was released on 24 November 1986 by the United States Mint. The United States Mint is the bureau responsible for the production of coinage in the United States through which it conducts trade and commerce nationally and globally.
So, let’s dig deeper into the search for the 2020 silver eagle.
Understanding the American Silver Eagle
The design of the coin’s obverse was inspired by the ‘Walking Liberty’ originating from the designer Adolph A. Weinman. The Walking Liberty was also used in the half dollar U.S. coin between 1916 to 1947.
The Walking Liberty is an iconic design adored by many people across the United States. The head side of the coin is inscribed with the word ‘Liberty’ and the year of issuance, the famous line ‘In God, We Trust’ also lies on the coin’s obverse side.
However, the coin changed in 2021, when Emily Damstra redesigned the eagle. The current design on Silver Eagle has an eagle landing on a branch which is symbolic of the reverse side of 1971 Eisenhower Dollar Coins.
You will find the words “United States of America, One Dollar, 1 OZ. Fine Silver” on the reverse side of the American Silver Eagle.
The reverse side of the coin has an attractive heraldic eagle behind a shield designed by John Mercanti. The eagle is holding arrows on its left talon and an olive branch on its right one. The thirteen five-pointed stars above the eagle’s head represent the thirteen colonies.
What Should You Know About the Silver Eagle?
The origin of the American Silver Eagle bullion program is from the executive plans in the 1970s and 1980s to sell the silver from the Defense National Stockpile.
The Wall Street Journal explained that several administrations attempted to sell the stockpile but were unsuccessful. The mining state stood in opposition to the sale. On the other hand, the promilitary legislators wanted assurance to purchase immediately required materials for the stockpile instead of the desperateness to reduce the federal deficit.
On 10 June 1981, the House Armed Services Committee approved Reagan Administration’s request to sell the government-owned silver in 1982 to balance the federal budget.
Three years was given to sell 75% stockpiled silver, 105.1 million U.S. dollars, in July 1981 by the House Armed Services Committee. In response to this, silver experienced a decline in price by 11%.
The first American Silver Eagle originated in San Francisco on 29 October 1986. The coin has been minted at three mints: The San Francisco Mint, The Philadelphia Mint, and the West Point Mint.
Bullion American Silver Eagle
Every year the bullion Silver Eagle has unlimited mintage. Typically, the coins focus more on investors, but even collectors can try their hand on the Silver Eagle.
A numismatic market exists which collects the first flawless Silver Eagles. A small cost is charged for the grading service of these coins.
There are no mint marks on the bullion Silver Eagles, making it challenging to determine the mintage source. The bulk or monster boxes of Silver Eagles come with mint marks, which makes collectors pay a premium for specific mints. Observing this, the U.S. Mint Policy changed. Now all bulk or monster boxes arrive with the U.S. mint mark.
The U.S. Mint refrains from selling bullion Silver Eagles directly in the market. There exists a network of distributors and purchasers that sell the coin. The 2008 spike of Silver Eagles, which led to the mint to run out of coin blanks, is why bullion Silver Eagles aren’t sold directly anymore.
Is the American Silver Eagle a Good Investment?
To look at the American Silver Eagle being a good investment to look at investment in silver. Silver is the second most valuable resource after gold. Various other factors like the industry to jewelry manufacturing and policies determine the value as well.
From a bird’s eye view, the combination of silver’s scarcity with the lack of other elements having the same properties and the visual appeal makes silver a valuable investment.
Silver is a good investment on rational and strategic grounds because there is a great scope of growth in terms of its value per ounce. Besides, silver in the form of Silver Eagle is an excellent long-term investment as experts predict an increase of 150% in the gold-silver ratio.
For all the U.S.-based investors that seek a simple way to liquidate a small amount of silver in fixed intervals, the American Silver Edge is an excellent investment. Silver Eagles are the pride of the U.S. Mint, and owning them allows you to sell them close to the spot.
Avid silver investors prefer buying silver in bar forms instead of the ’round’ from coins. The silver investors who buy silver bars become victims of the short-term strategy of buying low and selling high. However, the benefit of purchasing the American Silver Eagle is you get to compound the price in the long run.
In 2016, Silver Eagles worth 37.7 million ounces were sold. Also, Silver Eagles are famous across the globe. In the U.S., Silver Eagles are a great way to fund the Individual Retirement Accounts (IRS). Also, several similar accounts can be supported using Silver Eagles, which makes them a success.
The American Silver Eagle is a prestigious commodity to own. The demand is even more in 2021, as the new design has been released. If you’re looking for a long-term investment this year, investing in the silver market with American Silver Eagle is a wise choice, considering the tremendous scope of growth per ounce in silver.
You’re all set. Go out and get your Silver Eagle!