American Silver Eagle History
From Wikipedia, the free encyclopedia
The American Silver Eagle is the official silver bullion coin
of the United States. It was first released by the United States Mint
in 1986. It is struck only in the 1 troy oz denomination which has a
nominal face value of one dollar and is guaranteed to contain one troy
ounce of .999 pure silver. It is authorized by the United States
Congress and is backed by the United States Mint for weight and
content. The American Silver Eagle bullion coin may be used to fund
Individual Retirement Account investments. The United States Mint also
produces a proof version for coin collectors. Mintage has been from
three sites. One is the Philadelphia mint, and some of those issued
there carry a "P" mintmark. In the early years of the series the San
Francisco mint issued proofs and these have an "S." More recent proofs
are from the mint at West Point, New York. The latter have a "W" on
the reverse, as illustrated here.
Design
The design on the obverse has been borrowed from the "Walking
Liberty" design by Adolph A. Weinman, which was originally used on the
United States' half-dollar coin from 1916 to 1947. This was probably
the public's favorite design on any United States silver coin; hence
the choice of this design for the Silver Eagle. The reverse portrays a
heraldic eagle and was designed by John Mercanti.
Value
Mintages, and thus prices, of uncirculated and proof specimens
have varied widely, and the potential collector is advised to check a
standard reference book before buying them. Generally the business
strikes have minted in the millions, while the proofs were issued in
the hundreds of thousands. Thus, most dates are not particularly
expensive, although some of the early 1990s proofs sell for over $100.
Also, the special 1995W issue (30,125 sold) is worth several thousand
dollars. The 2006 20th anniversary boxed set, with uncirculated,
proof, and reverse proof pieces, had a 250,000 mintage. As of late
2006 it is selling for just under $200.
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