We here at 57Gold aren’t investment counselors. However, we know a heck of a lot about 1 oz silver, bars, coins and other bullion. And so we get a lot of phone calls from folks who’re trying to get more information about these products.
Seems like people have a lot of questions about the American Silver Eagle coin in particular. I guess that’s no surprise, since the American Silver Eagle coin is the official silver bullion coin of the United States. Truth is, its gets a lot of publicity.
So let’s have a look at a few facts about this 1 oz silver coin…
The American Silver Eagle Coin is a 1-Oz Coin
These coins contain one troy ounce of 99.9% pure silver. And because this silver is so pure, the American Silver Eagle coin is one of the few coins that the United States IRS allows you to put into your silver IRA (individual retirement account).
The American Silver Eagle Coin Has a Face Value of $1
However, because this 1 oz coin is so pure, the American Silver Eagle coin tends to move with the spot price of silver.
The US Mint Makes Proof and Uncirculated American Silver Eagle Coins Which Interest Collectors
The American Silver Eagle coin is minted in one of three US mints: the Philadelphia mint, the West Point mint and the San Francisco mint. Bullion coins have been minted at the West Point mint since 2001. Proof coins made after 2010 all bear the “W” mark, which means they too were minted at the West Point facility.
While all three facilities created 1 oz silver legal-tender coins, you’ll also find that the US government creates two other American Silver Eagle coins which primarily interest collectors:
- 1 oz silver proof coin
- 1 oz silver uncirculated coins
The American Silver Eagle Coin Has Been Minted for Over 25 Years
This 1 oz silver coin was first minted in 1986 at the San Francisco mint. That first year, approximately 6.8 million of these 1 oz silver coins were minted. The next year that number nearly doubled. Since then, yearly mintages for the American Silver Eagle coin have ranged from a low of 30,000 to a high of 35.6 million coins. That adds up to a whopping 300 million American Silver Eagle coins that have been minted in the last 27 years.
Point is, there are a lot of American Silver Eagle coins in circulation, in private collections and in silver investors’ vaults. Coin collectors in particular like the American Silver Eagle proof coins and the uncirculated coins. However, silver investors also tend to be drawn to the American Silver Eagle coin. That’s because:
- 1 oz silver tends to be a good hedge against inflation.
- 1 oz silver tends to be stable even if the economy is uncertain.
- 1 oz silver is recognized and easily liquidated around the world.
There are a lot of good reasons to invest in American Silver Eagle coins – or any type of silver for that matter. So give our silver specialists a call today here at 57Gold.com to find out how we can help you start investing in precious metals.
- Facts About the American Silver Eagle 1 Oz Silver Bullion Coin
- How to Create Your Silver IRA With Silver Bars and Coins
- American Silver Eagles and 1 Oz Silver: Is There a Better Alternative?