American Silver Eagle Coins
Silver Eagles - "Walking Liberty" design going back to 1916
Production of the American Silver Eagles started in 1986. When you buy silver in the form of Silver Eagle coins, you might be surprised to find that the silver version of the American Eagle coins bears different designs on both sides than the American Gold Eagles. Their obverse side uses Adolph A. Weinman's "Walking Liberty" design that first appeared on the Walking Liberty Half Dollar between 1916 and 1947. Another difference is that the Silver Eagles are much larger (40.6 mm diameter) and a little thicker (2.98 mm thickness) than the gold coins.
To mark the 35th anniversary of the American Eagle coin program, the US Mint introduced a new reverse side design for the Silver Eagles in 2021. Some minor changes were made to the obverse side of the coins as well that year. Coins with the new design are referred to as Type 2. Since the design switch was made mid-year, both Type 1 (with the original reverse design) and Type 2 Silver Eagle coins were minted and issued that year.
American Silver Eagle coins are minted from 99.9% fine silver. Only 1 oz silver coins (face value US $ 1) are issued whereas American Gold Eagles are issued in four different denominations. The US Mint produces the coins with brilliant uncirculated, proof (no proof coins in 2009) and burnished uncirculated (2006 - 2008 and since 2011) finishes. American buyers that are investing in silver for their retirement can include the coins in their Individual Retirement Accounts (IRA's).
Coin Specifications
| Weight | Face Value | Purity | Diameter x Thickness |
|---|---|---|---|
| 1 oz | US $ 1 | 99.9% | 40.60 x 2.98 mm |
Silver Eagle Coin Design
The fact that the design of the American Silver Eagle coin is totally different from the design of the Gold Eagle coin is highly unusual.
The design of the obverse side goes back to Adolph A. Weinman's design of the Walking Liberty Half Dollar coin (minted between 1916 and 1947). It depicts Lady Liberty in stride towards the rising sun. She carries branches of laurel and oak in one arm and stretches out the other. The year of minting and the words "Liberty" and "In God We Trust" are engraved on the obverse as well. The Type 2 coins that were first issued in 2021 also display Adolph A. Weinman's traditional artist mark "AW" on the obverse side. Furthermore, technological advancements in the design and minting process made it possible to add some of Weinman's original details to the obverse side design of these new coins.
John Mercanti's original design of the reverse side (now referred to as Type 1) depicts an eagle with an olive branch in its right and arrows in its left talon behind a shield. The thirteen stars above the eagle represent the thirteen original colonies. The reverse also has the words "United States of America", "E Pluribus Unum", "1 oz. Fine Silver" and "One Dollar" inscribed. Proof and burnished uncirculated coins also bear a mint mark (W - West Point, P - Philadelphia, S - San Francisco) but brilliant uncirculated Silver American Eagles are not mintmarked.
In mid-year of 2021, the original reverse design of the coins was replaced by a completely new design. The new Type 2 design was created by the United States Mint Artistic Infusion Program Designer Emily Damstra and sculpted by the United States Mint Medallic Artist Michael Gaudioso. Their artist marks "ESD" and "MG" appear underneath the new central image on the reverse which shows a single eagle coming in for a landing while carrying an oak branch as if to add it to a nest. On the reverse of the new Type 2 Silver Eagle coins, the inscriptions "United States of America", "E Pluribus Unum", "1 oz. Fine Silver" and "One Dollar" are also placed at different spots than before on the Type 1 coins.
History of the Silver American Eagles
The Liberty Coin Act that authorized the American Silver Eagle bullion program was signed by the then President Ronald Reagan on July 9th 1985. It mainly stipulated that a 1 oz silver coin out of 99.9% pure silver and with the status of legal tender shall be issued after September 1st 1986. Other specifications regarding the coin size and design were also included in the law. The silver was originally purchased from the silver stockpile of the American government. Since 2002, it can also be purchased on the open market once the silver stockpile has been depleted.
The United States Mint started with the minting of the American Eagle silver coins on October 29th 1986 with a striking ceremony in San Francisco. Both brilliant uncirculated as well as proof coins were at first minted by that branch mint. The first American Silver Eagles were issued on November 24th 1986. The minting of proof coins shifted to Philadelphia in 1993 and to West Point in 2001. Production of 'regular' brilliant uncirculated Silver American Eagle coins moved to Philadelphia (only for 1999 and 2000) and West Point in 1999. The San Francisco Mint occasionally assists West Point with supplementary production since 2011. Burnished uncirculated Silver Eagles were also just minted at West Point from 2006 to 2008 and again since 2011.
In 2020, the US Mint released a limited mintage of 75,000 privy-marked American Silver Eagle proof coins that were dedicated to the 75th anniversary of the end of World War II. These first-ever privy-marked American Silver Eagle coins were struck at the West Point branch of the US Mint. Whereas the W mint mark appears on the reverse side of the coins, the "V75" privy mark appears on the obverse.
In 2021, the US Mint made changes to the original design of the coins which had been in continuous use for 35 years. Whereas the reverse side design was changed completely, only minor changes were made to the obverse design. Since the change from Type 1 to Type 2 was made in the middle of 2021, there exist American Silver Eagle coins of both types that bear the 2021 mintage date. Besides the new design, the Type 2 Silver Eagle coins also have enhanced security features that are meant to prevent counterfeiting such as a reeded edge that is interrupted by a notch on the edge at the 6 o'clock position.
Mintage Numbers
Mintage of the brilliant uncirculated version of the Silver American Eagle coin has exploded since 2008 (perhaps partly initiated by that year's global financial crisis). Almost every year set a new mintage record since then with 47 million uncirculated Silver Eagle coins in 2015 as the current record. The lowest annual mintage of these popular silver bullion coins was set in 1996 with 3.6 million coins.
There is considerably less variation in the annual mintage numbers of the proof Silver Eagle. The mintage record for these proof coins was already set in 1986 (the 1st year of mintage) with 1,446,778 coins. If one disregards the year 2009 (when no proof coins were minted at all), then 372,168 coins in the year 1994 was the lowest annual mintage.
The burnished uncirculated version of the American Eagle silver coin was at first only minted from 2006 to 2008. It is minted again continuously since 2011. Annual mintage of these burnished coins has been declining since 2008 (with 221,981 coins in 2013 being the lowest mintage) from the highest mintage of 621,333 coins in 2007.
American Gold Eagles
The US Mint produces American Gold Eagle coins since 1986 with an obverse design that depicts Lady Liberty with flowing hair, holding a torch in her right hand and an olive branch in her left. This design is reminiscent of the historic Saint-Gaudens Gold Double Eagles. In 2021, a new reverse side design was introduced and some minor changes were made to the obverse side of the coins as well. The 91.67% pure gold coins exist with brilliant uncirculated, proof and burnished (only between 2006 and 2008) finishes. Four denominations of 1 oz, 1/2 oz, 1/4 oz and 1/10 oz are available. American Eagle coins count among the most popular gold coins. By law, the gold that is used to mint these coins must have been mined in the United States.
The American Gold Eagle page gives more information about the coins and allows you to compare current prices.
American Platinum Eagles
The US Mint produces the American Platinum Eagles since 1997. The 1 oz coins with a US $ 100 face value are minted out of 99.95% fine platinum. Additional fractional coins were minted until 2008 in the sizes of 1/2 oz (US $ 50), 1/4 oz (US $ 25) and 1/10 oz (US $ 10). Buyers can choose between brilliant uncirculated, proof and burnished uncirculated (only from 2006 - 2008) coins with the latter two bearing the mint mark W for the West Point branch of the US Mint. Lady Liberty is portrayed in close-up on the obverse side of the American Platinum Eagle coins and an eagle in flight is shown on the reverse. However, the design of proof coins differs from this standard design in most years. Burnished uncirculated coins displayed the same design as the proof coins of the same year.
The American Platinum Eagle page gives more information about the coins and allows you to compare current prices.
Palladium American Eagles
The Palladium American Eagles are the US Mint's latest addition to the American Eagle bullion coin series. The first 15,000 brilliant uncirculated coins were issued on the 25th of September 2017. Proof coins were then released in 2018, followed by reverse proof coins in 2019 and burnished coins in 2020. In 2021, the US Mint released two versions of the Palladium Eagle coins in the same year, a proof version AND a brilliant uncirculated bullion version. All American Palladium Eagles are minted out of 99.95% fine palladium in the single size of 1 oz (US $ 25 face value). A young Lady Liberty wearing a winged Phrygian cap is depicted on the obverse side of the coins. The reverse shows an eagle perched upon a rock and holding an olive branch in its beak. The high-relief design of both sides was originally created by Adolph A. Weinman, one of the most famous American coin designers.
The American Palladium Eagle page gives more information about the coins.
American Eagle Silver Coin Sets
1993 Philadelphia Set
total gold weight: 0.85 oz
total silver weight: 1.7734 oz
This unique set contains 5 proof coins that were issued by the Philadelphia branch of the US Mint: the American Gold Eagles in the 1/10 oz, 1/4 oz and 1/2 oz denomination, the 1 oz American Silver Eagle and the U.S. Mint Philadelphia Bicentennial Medal.
10th Anniversary Set 1995
total gold weight: 1.85 oz
total silver weight: 1 oz
The 10th Anniversary Set is composed of 5 proof coins by the West Point branch of the US Mint: the American Gold Eagle in all its 4 sizes (1 oz, 1/2 oz, 1/4 oz, 1/10 oz) plus the rare 1995-W 1 oz American Silver Eagle (only 30,125 coins minted with W mint mark).
1997 Impressions of Liberty Set
total gold weight: 1 oz
total silver weight: 1 oz
total platinum weight: 1 oz
The Impressions of Liberty Set contains the 3 proof American Eagles in gold, silver and platinum, all in the 1 oz denomination. The coins are mintmarked with the W for the West Point branch of the US Mint.
20th Anniversary Sets 2006
3 coin Gold Set:
1 oz burnished uncirculated & proof & reverse proof Gold Eagle
2 coin Gold & Silver Set:
1 oz Gold & Silver Eagle (either burnished or uncirculated coins)
3 coin Silver Set:
1 oz burnished uncirculated & proof & reverse proof Silver Eagle
Annual Uncirculated Dollar Coin Set
total silver weight: 1 oz
This 6-coin-set was issued in the years 2007, 2008 and from 2012 to 2016. It always contains one uncirculated 1 oz American Silver Eagle coin with the W mintmark for the West Point branch of the US Mint. The other five coins are commemorative coins (NOT out of precious metals) mostly dedicated to former US presidents.
25th Anniversary Silver Eagle Set 2011
total silver weight: 5 oz
Five 1 oz American Silver Eagle coins from 2011 (all 99.9% pure silver) are included in this set. Besides the uncirculated Silver Eagle without mint mark, it includes an uncirculated coin with the S mint mark, a proof and a burnished coin with the W mint mark and finally a reverse proof Silver Eagle with the P mint mark. The coins are packaged in a box with a certificate of authenticity. A total of 99,882 sets were sold.
Limited Edition Silver Proof Set
total silver weight: 2.34 oz
This set is issued annually since 2012 (except 2015 when it was canceled). Eight coins are included, most notably one 1 oz proof Silver Eagle (99.9% pure silver). Additionally included are five "America the Beautiful" quarters as well as a Kennedy half and a Roosevelt dime (all out of 90% silver). The coins are packaged in a presentation case with a certificate of authenticity. Mintage is limited to 50,000 sets per year of issue.
San Francisco Silver Eagle Set 2012
total silver weight: 2 oz
This 2-coin set was issued to commemorate the San Francisco Mint's 75th anniversary in 2012. It contains a proof and a reverse proof Silver Eagle from that year, both with the S mintmark. The coins are packaged in a US Mint box with a certificate of authenticity. A total of 224,935 sets were issued.
Making American History Set 2012
total silver weight: 1 oz
This unusual coin and currency set contains one 2012 proof Silver Eagle coin with the S mintmark alongside a special $5 bill whose serial number starts with "150" (to commemorate the 150th anniversary of the Bureau of Engraving and Printing). The limited-edition set was issued in 2012 in celebration of the US Mint's 220th anniversary.
Congratulations Coin Set since 2013
total silver weight: 1 oz
This collectible gift set was introduced in 2013. It contains one proof American Silver Eagle coin (with the W mintmark for the West Point Mint) complete with a certificate of authenticity. The 1 oz proof Silver Eagle is encapsulated within the US Mint's presentation folder. The coin in the 2016 Congratulations Coin Set commemorates the 30th anniversary of the American Eagle Program with special edge lettering.
West Point Silver Eagle Set 2013
total silver weight: 2 oz
This set was issued in 2013 in order to celebrate the 75th anniversary of the West Point branch of the US Mint. The two included coins are the reverse proof and enhanced uncirculated (coin has 3 finishes: heavy frost, light frost, brilliant polish) version of the 2013 Silver Eagle. Both coins bear the W mintmark and are only available in this set. A total of 235,689 such sets were issued in a US Mint display box with certificate of authenticity.
"Pride of Two Nations" Set 2019
total silver weight: 2 oz
This limited edition set from 2019 contains the 99.99% pure modified proof 1 oz Canadian Silver Maple Leaf and the 99.9% pure enhanced reverse proof 1 oz American Silver Eagle (with the W mint mark). The inscriptions on the Silver Maple Leaf are polished instead of frosted (hence the modified proof label) and the enhanced reverse proof Silver Eagle had multiple polished and frosted finishes applied on its design elements instead of just simply having a frosted background and polished design elements.
2-Coin Reverse Proof Set 2021
total silver weight: 2 oz
This American Eagle 2021 One Ounce Silver Reverse Proof Two-Coin Set is made up of two 1 oz American Silver Eagle reverse proof coins from 2021. Only up to 125,000 units of this set will ever be issued. Since 2021 was the year when the design switch was made mid-year from Type 1 to Type 2, the set includes one 1 oz reverse proof coin with the original reverse design (Type 1) and a second 1 oz reverse proof coin with the new reverse design (Type 2). The coin with the original reverse design bears the W mint mark of the West Point branch of the US Mint and the Type 2 coin with the new reverse design bears the S mint mark of the branch mint in San Francisco. The coins have a reeded edge as an enhanced security feature. A numbered certificate of authenticity is included along with the coins that are individually encapsulated and packaged together in a black presentation case.