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Silver Eagle Coins: An Introduction

The American Silver Eagle is the official silver bullion coin of the United States. Silver Eagle coins have been issued since 1986 and consist of one ounce of fine silver. Every coin is minted to exact specifications and guaranteed by the US government for purity. Silver Eagles have become a worldwide favorite of both coin collectors and metals investors. There are many collectors who consider the Silver Eagle to be the modern silver dollar, and these silver dollar coins are collected by series and date. American Silver Eagles are produced at three mints: the San Francisco Mint, the Philadelphia Mint, and the West Point Mint.

The US Mint offers American Silver Eagle coins in three different versions:

1. Bullion

The common bullion version of the Silver Eagle is available from coin dealers and authorized bullion dealers. Bullion does not contain mintmarks. Since 1986, bullion has been minted in Philadelphia and West Point.

2. Proof

The collected proof version of the Silver Eagle is available directly from the US Mint. Proof versions are early editions of a coin issue. Proofs have been minted at all three US locations since 1986. In 2009, no proof versions of silver dollar coins were minted.

3. Uncirculated

The most recent version is a burnished or uncirculated version of the coin which is popular with collectors. Produced from 2006-2008 at West Point, this particular coin is marked with a “W” mint mark. Most uncirculated silver dollar coins of this type are known to be commemorative.

The “Unprecedented Demand” for American Silver Eagles

As a result of the worldwide economic recession, the popularity of American Silver Eagles has skyrocketed due to uncertainty concerning the inflation of the dollar. There has never been a better time to secure an investment in silver. As a result of this phenomenon, since 2008, the United States Mint began an allocation program with the purpose of rationing silver dollar coins to authorized dealers on a weekly basis due to “unprecedented demand,” creating a limited number of Silver Eagle coins available from the US Mint.