Why the American Silver Eagle Coin Should Be in Your Collection

Among numismatists, the American Silver Eagle is certainly the most popular. In November 2019, the U.S. Mint released a limited edition San Francisco mint mark Reverse Proof. Collectors were so enamored, the entire 30,000 minting sold out in twenty minutes! Continue reading to learn why the American Silver Eagle Coin should be in your collection as well..

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The Mint tried to prevent hoarding by limiting sales to one per customer. Yet, despite this limitation, the sale of the 2019 American Silver Eagle crashed the Mint's website.

This coin's popularity is undeniable. But, is it really worth the hype?

Some numismatists compare buying it to investing in the Morgan Dollar.

In November 2020, a rare Morgan dollar variant sold for $750,000 at auction. Even typical Morgan dollars are reliably valuable.

And, there are so many variants, Morgan dollar collecting has become its own numismatic specialty. Similarly, there are multiple limited-edition American Silver Eagle varieties.

Beyond this, both coins contain at least one troy ounce of silver. Because of this, the American Silver Eagle is a great bullion coin if you want to hedge against inflation. And, it might be the next Morgan dollar in terms of value.

American Silver Eagle: Ideal Coin

Bullion coins aren't used for commerce. Instead, countries mint bullion coins as investment assets. Mints print bullion coins in precious metals and weigh them in troy ounces.

In the United States, the Treasury Department might grant the coin a face value. But, in most cases, the appraised value is higher.

Congress declared the face value of the American Silver Eagle to be one dollar. The coin contains at least one troy ounce of 99.9% pure silver.

The U.S. Treasury intends American Silver Eagle coins as investment pieces and collector's items. The IRS allows investors to contribute these bullion coins to their Individual Retirement Account (IRA) funds.

The American Silver Eagle's composition and utility as an IRA contribution make it a good bullion coin on its own. But its unique history makes it an even better investment than most.

History of the American Silver Eagle Coin

Congress asked the U.S. Mint to create the American Silver Eagle to solve an economic problem. Yet, while they minted the coin out of necessity, it became a noteworthy work of art.

This coin's history began in 1985. It's still unfolding today.

Design

U.S. Mint Director Donna Pope chose the "Walking Liberty" design for the face of the coin. The sculptor Adolph Weinman originally created the design for the Walking Liberty Half Dollar in 1916.

The design was iconic, yet no one had minted the silver fifty-cent piece since 1947. So, Pope revived it for the American Silver Eagle.

The Director appointed John Mercanti to design the Eagle itself. Mercanti is an American sculptor. He served as the twelfth Chief Engraver of the United States Mint from 1974 to 2010.

Mercanti's eagle design encompasses a shield, banner, and thirteen stars.