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88-477: Proof versions of the coins are intended for coin collectors and sold directly to the public whereas the bullion versions are sold only to the Mint's authorized buyers. The proof American Platinum Eagles are unique in the fact that they are the only U.S. bullion coins that have a yearly alternating design. Bullion versions are minted with the same design every year. While minted, the uncirculated Platinum Eagles matched

176-440: A certificate of authenticity , the coins were encased in a domed mahogany box designed to display the coins at an angle. The set's release on December 13, 2007, at a price of $ 1,949.95 (around $ 475 above platinum spot ) with a seven-day one-set-per-household limit was met with strong collector interest. First week sales reached 14,682 units, almost half of the maximum ordered mintage of 30,000 units. However, due to fluctuations in

264-504: A "Type I" or a "Type II" version, where on all coins the "S" mint mark is either "filled" (also known as the "blob" mint mark) or "clear". 1964 has a design variation where the President's portrait on the Kennedy half-dollar has "accented hair". The design was modified early in the production (reputedly at the request of Jacqueline Kennedy ) to give the hair a smoother appearance. This resulted in

352-524: A "disastrous effect" on the United States silver mining industry in general and several Idaho silver mining companies in particular. On December 3, 1981, Senator James A. McClure ( R -Idaho) proposed an amendment (S.UP.AMDT.738) to the Department of Defense appropriation bill ( H.R. 4995 ) to end the government's sale of silver "until the President, not later than July 1, 1982, redetermines that

440-467: A box and each of the five coins was sealed in a cellophane bag. 1955 saw both the original "box" packaging and introduced the flat-pack, where the coins were sealed in cellophane and presented in an envelope. The flat-pack packaging continued through 1964, after which the coins were sealed in various styles of hard plasticized cases. (From 1965 to 1967 the production of proof sets was suspended and Special Mint Sets were made in their place. They were made at

528-549: A change needs to be enacted soon. We can mint 200,000 per month, and if we can begin by September, we will be able to produce about 830,000 one-ounce silver American Eagle coins to meet collector demand for this product in the remaining months of 2010. On September 22, 2010, Representative Melvin L. Watt (D- North Carolina ) introduced the " Coin Modernization, Oversight, and Continuity Act of 2010 " ( H.R. 6162 ) to amend 31 U.S.C.   § 5112 (e) and (i) by giving

616-406: A change. Indeed, such a change would be one of the most positive customer satisfaction measures that could be taken to benefit your coin collecting constituents without having an effect on American's [ sic ] ability to acquire investment-grade silver bullion. We have already provided you technical drafting assistance that your staff have requested to accomplish this change; however, such

704-529: A collectible uncirculated Silver Eagle coin produced at West Point (bearing the "W" mintmark). The coins are struck on specially burnished blanks and sometimes are referred to as "W Uncirculated" or "Burnished Uncirculated". Aside from the standard-issue burnished Eagles, there has been one burnished Eagle issue produced at San Francisco bearing the "S" mintmark for release in the "American Eagle 25th Anniversary Silver Coin Set" in 2011. The first significant variety of

792-506: A field of wheat, symbolizing the vastness of our Nation and its wide diversity of views. She bears a a [ sic ] stalk of wheat in her left hand, as she extends her right hand to a landing dove, representing the fulfillment of tranquility in our Nation's cohesive yet free society" "A vigilant minuteman from the Revolutionary War, representing the protection and defense of the country during its early days. The minuteman carries

880-525: A hybrid product, "special mint sets", none of which are particularly valuable. From 2005 through 2010 the U.S. Mint used a special "satin finish" on the coins in its uncirculated sets , but in 2011 changed to a "brilliant finish" so that contact marks incurred during the normal production process would be less noticeable. The Philadelphia and Denver mints also sold annual "souvenir sets" from their gift shops since 1973 (1972 for Denver). These are not mint sets and generally not of high collectable value, although

968-449: A mirror finish. Several other methods have been used in the past to achieve this effect, including sand blasting the dies, and matte proofs. Proof coins of the early 19th century even appear to be scratched, but it was part of the production process. The term "proof" refers to the process by which the coins are made and not to the condition of the coin. Certification agencies can grade and assign numerical ratings for proof coins. A PR70 coin

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1056-459: A penny with no mint mark. Not as rare (or as expensive) are proof sets issued with coin varieties that are less common than those found in other sets issued in the same year. These include the 1960 and 1970-S sets, both of which are found in either a "small date" or "large date" variety, which refers to the size and position of the date on the Lincoln cent. The 1979-S and 1981-S sets each come in either

1144-517: A portion of the mintage of cents in the early 1980s. The dollars and quarters bear a mint mark of an "S", but the cents are otherwise indistinguishable from those minted at Philadelphia (which bear no mint marks, unlike those years' proof cents from San Francisco and circulation cents from  Denver ). From 1973 through 1981 the dollar was also included, and also from 2000 on. The 1999–2008 proof sets also contain five different 50 State quarters . The 2004–2005 series also contain

1232-541: A price of $ 45.95 per coin and that 2010-dated uncirculated Silver Eagle coins would not be produced. In January 2013, the Mint suspended sales of American Silver Eagle bullion coins after the first week due to high demand. The Mint resumed the allocation program that had been implemented from 2008 to 2010. The Silver Eagle coins were sold out in the first week of July 2015. The Mint said its facility in West Point, New York, continued to produce coins and it resumed sales at

1320-419: A proof striking usually involved polishing of the dies. They can usually be distinguished from normal circulation coins by their sharper rims and design, as well as much smoother "fields"   — the blank areas not part of the coin's design. The dies for making modern proof coins are often treated with chemicals to make certain parts of the design take on a frosted appearance, with the polished fields taking on

1408-535: A protective plastic capsule mounted in a satin -lined, velvet -covered presentation case and accompanied by a certificate of authenticity . Proof Silver Eagle coins first became available through the United States Mint's subscription program in October 2002. Uncirculated coins dated 2006 through 2008 were sold directly to the public by the United States Mint in packaging similar to that of the proof coins; however,

1496-474: A result of the global recession , the demand from investors for bullion coins as a hedge against inflation and economic downturn surged. This increased demand began to affect the availability of American Silver Eagle bullion coins in February 2008 when sales to authorized dealers were suspended temporarily. In March 2008, sales increased ninefold from the month before (from 200,000 to 1,855,000). In April 2008,

1584-420: A rifle and a book, which symbolizes the importance of knowledge in defending our Nation" "Young America against a backdrop of interlocking gears, symbolizing the interconnection of power between the states and the national government" "Young Lady Liberty carrying her torch, symbolizing the hope and promise of America" "Liberty and an American bald eagle, representing Freedom. The earth and sun with rays are in

1672-461: A seedling and an acorn surrounded by the inscription WITH FREEDOM OF RELIGION LIBERTY GROWS." "The obverse (heads) design features a juvenile oak tree framed with the inscription WITH FREEDOM OF SPEECH LIBERTY BLOSSOMS." "The obverse (heads) design portrays the branch of mature oak tree with acorns amidst the inscription WITH FREEDOM OF THE PRESS LIBERTY BEARS FRUIT." "The obverse (heads) design showcases several types of oak leaves assembled between

1760-478: A silver-bearing coin. The bill was referred to the Committee on Banking, Housing, and Urban Affairs which held hearings on April 15, 1983, however, it was not enacted. Some two years later, with sales still suspended, Senator McClure again introduced legislation aimed at requiring potential sales of stockpiled silver to be conducted through the issuance of coins minted from the silver. This time his legislation took

1848-568: A year after its initial release, the Mint reported total sales of 19,583 units. The figures listed below are the final audited mintages from the U.S. Mint and include coins sold both individually and as part of multi-coin sets. Since 2009, only the $ 100 (1 troy oz) denomination has been offered. Bullion Platinum Eagles were not issued from 2009 to 2013. Similarly, in 2015, due to an insufficient quantity of blanks, no bullion Platinum Eagles were issued. [REDACTED]  This article incorporates public domain material from websites or documents of

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1936-425: A yearly design. Since 1998, each design aside from the 2017 reverse commemorating the 20th anniversary of the program, has been part of a themed series: "Four faces representing the diversity of our Nation, with the clothing and hair weaving together symbolizing the principle" "A blindfolded justice–symbolizing impartiality–holding traditional scales and carrying a branch of laurel" "Harvest goddess emerging from

2024-435: Is much greater than their $ 1 legal tender face value. American Silver Eagle Coin prices and premiums are mainly dictated by the fluctuating silver spot price and ongoing supply-demand. Mintages, and thus prices, of bullion, proof, and uncirculated Silver Eagle coins have varied widely, and the potential collector is advised to check a standard reference book before buying them. Generally, the bullion versions have been minted in

2112-424: Is often the case with bullion coins, the face values of these coins ($ 10, $ 25, $ 50, and $ 100) are their legal values reflecting their issue and monetized value as coins. They are legal tender for all debts public and private at their face values. The 1 troy oz coin's face value of $ 100 is the highest to ever appear on a U.S. coin. The specifications of each denomination are presented below: The intrinsic values of

2200-413: Is the highest grade possible for a proof coin and indicates a perfect example, with PR69 and lower grades reflecting some deficiency in the strike, centering, details, or other aspect of the coin. Most proof coins are double struck under higher pressure. This does not normally result in doubling that is readily observable, but does result in the devices being struck fully, resulting in intricate elements of

2288-652: The Royal Mint were produced for preservation. Gold coins were omitted from proof sets produced for the coronation of Queen Elizabeth II . After decimalization , proof sets were heavily marketed internationally. The U.S. had largely stopped striking proof coins in 1916, although a few later specimens exist. From 1936 to 1942, proof coins could be ordered individually from the United States Mint . Beginning in 1950, customers could order proof coins only as complete sets . From 1950 to 1955, proof sets were packaged in

2376-592: The San Francisco Assay Office but bore no "S" mint mark .) Sets struck from 1936 to 1942 (1942 offered a five-coin and a six-coin version, the latter included the silver wartime nickel ) and from 1950 to 1972 include the cent , nickel , dime , quarter , and half dollar . Since 1975, the San Francisco Mint has been used almost exclusively for proof coinage, with the exception of the  Susan B. Anthony dollar  from 1979–81 and 1999, and

2464-672: The San Francisco Mint . From 1999 to 2000, they were produced at the Philadelphia Mint and West Point Mint . In March 2011, the San Francisco Mint conducted trial strikes of bullion Silver Eagle coins in preparation for the resumption of full production later in the spring. The added production capacity provided by the San Francisco Mint supplements the output of the West Point Mint. From 1986 to 1992, proof Silver Eagle coins were minted at San Francisco and these coins bear

2552-484: The Thirteen Colonies . The reverse was inscribed with the phrases UNITED STATES OF AMERICA , 1 OZ. FINE SILVER~ONE DOLLAR , and E PLURIBUS UNUM (on the banner that the eagle holds in its beak), as well as the mintmark if applicable. The design was slightly modified starting with 2008 coins; most notable is the addition of a serif on the U of UNITED, and a slight change between SILVER and ONE. The impetus of

2640-485: The United States Government . Proof coinage Proof coinage refers to special early samples of a coin issue, historically made for checking the dies (as in demonstrating that something is true) and for archival purposes. In modern times, proofs are often struck in greater numbers, especially for coin collectors ( numismatists ). Nearly all countries have issued proof coinage. Preparation of

2728-591: The Walking Liberty Half Dollar coin of the United States from 1916 to 1947. As this iconic design had been a public favorite—and one of the most beloved designs of any United States coinage of modern times, silver or otherwise—it was revived for the Silver Eagle decades later. The obverse is inscribed with the year of minting or issuance, the word LIBERTY , and the phrase IN GOD WE TRUST . The obverse

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2816-506: The federal budget . In July 1981, the House and Senate agreed to allow the sale of 75% of the stockpiled silver (105.1 million troy ounces) over a three-year period, and in September the price of silver fell 11% in response. Just before the first sale in October 1981, a group of politicians from Idaho —a major silver-producing state—attempted to block the auction, claiming that the sale could have

2904-410: The "S" mintmark. From 1993 to 2000, they were minted at Philadelphia and these coins bear the "P" mintmark. From 2001 to 2008, they were minted at West Point and these coins bear the "W" mintmark. No proof versions were minted in 2009. Beginning again in 2010, the proof coins were minted at West Point and bear the "W" mintmark. From 2006 to 2008 and beginning again in 2011, the United States Mint issued

2992-470: The "accented hair" variety being somewhat rarer and commanding a premium over the "regular" variety. Since 1992 the mint has struck proof sets in both silver and base metal. Also, "Silver Premier" sets, featuring deluxe packaging, were offered from 1992 to 1998. U.S. commemorative and bullion platinum , palladium , gold , and silver coins are also often issued in both uncirculated and proof types, sometimes with different mint marks . From 1992 to 2018,

3080-606: The 10th anniversary of the Platinum Eagle's 1997 launch, the set contained two half-ounce ($ 50) Platinum Eagles, one matching the 2007 proof strike from earlier in the year and the other carrying an enhanced reverse proof finish with the same design. This first offering of a reverse proof version of the Platinum Eagle followed the prior year's release of similar sets for the American Silver Eagle and American Gold Eagle 's 20th anniversary. In addition to being accompanied by

3168-558: The 1982 and 1983 sets are in demand, since no "official" mint sets were issued during those years. Sales of the souvenir sets ended in 1998 with the launch of the 50 State quarters. Finally, individual dealers have made unofficial "year sets", privately packaging all denominations of a certain date. The latter have no value beyond their individual coins. Members of the public should be careful to understand what products they are being offered, and that, until supplies are exhausted, current and previous mint and proof sets are available directly from

3256-579: The 1995-W proof ($ 3,800 as of 2016) and the 2006 20th anniversary set containing a special "Reverse Proof" coin along with a regular proof coin and the new "Burnished Uncirculated" coin ($ 250 as of 2016). Counterfeit coins , especially from China, are a problem as they are illegal and fraudulent. To deter counterfeits and keep the integrity of its product, the American Silver Eagle bullion coin incorporates several security features to ensure its authenticity and deter counterfeiting attempts. Firstly,

3344-471: The 2006 coin's capsule was housed in a velvet drawstring bag. Special issues and sets are sold directly to the public by the United States Mint. American Silver Eagle bullion coins carry a face value of US$ 1. This is their legal value reflecting their issue and monetization as coins. Per 31 U.S.C.   § 5112(h) , the coins are legal tender for all debts public and private at their face value. This value does not reflect their intrinsic value which

3432-548: The American Silver Eagle bullion program ultimately comes from executive plans through the 1970s and early 1980s to sell off silver from the Defense National Stockpile . As The Wall Street Journal explained, "Several administrations had sought unsuccessfully to sell silver from the stockpile, arguing that domestic production of silver far exceeds strategic needs. But mining-state interests had opposed any sale, as had promilitary legislators who wanted assurances that

3520-474: The Defense National Stockpile with the intent to deplete the stockpile's silver holdings slowly over several years. By 2002, it became apparent that the stockpile would be depleted and that further legislation would be required for the program to continue. On June 6, 2002, Senator Harry Reid ( D - Nevada ) introduced bill S. 2594, "Support of American Eagle Silver Bullion Program Act", "to authorize

3608-585: The Mint announced that all incoming silver planchets were being used to produce only bullion issues of the Silver Eagle and not proof or uncirculated collectible issues. The 2008 Proof Silver Eagle became unavailable for purchase from the United States Mint in August 2008 and the 2008 Uncirculated Silver Eagle sold out in January 2009 (however, it was available as part of the "2008 Annual Uncirculated Dollar Coin Set" until it sold out on January 28, 2010). On March 5, 2009,

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3696-507: The Mint announced that the collectible versions of the Silver Eagle coin would not be produced for 2009. The disappointment of collectors was expressed in a December 1 article by Representative Gary C. Peters (D- Michigan ). Peters offered alternative scenarios to the cancellation of 2009 proof and uncirculated Silver Eagles and explained that he would be sending a letter to Mint Director Edmund C. Moy urging him to begin minting these products as soon as possible and continuing to do so until

3784-573: The Secretary of the Treasury authority to mint American Eagle silver and gold coins in "qualities [e.g. bullion, proof, or uncirculated] and quantities" sufficient to meet public demand. The bill was signed into law ( Pub. L.   111–302 (text) (PDF) ) by President Barack Obama on December 14, 2010. On October 4, 2010, the Mint announced that 2010-dated proof American Silver Eagle coins would be available for purchase beginning on November 19, 2010, at

3872-523: The Secretary of the Treasury to purchase silver on the open market when the silver stockpile is depleted." The bill was passed by the Senate on June 21 and by the House on June 27 and signed into law ( Pub. L.   107–201 (text) (PDF) , 116  Stat.   736 ) by President Bush on July 23, 2002. The first American Silver Eagle coin was struck in San Francisco on October 29, 1986. Secretary of

3960-496: The Silver Eagle series appeared in 2008 and is known as the "2008-W Silver Eagle Reverse of 2007 Variety". The United States Mint made slight alterations to the reverse design between 2007 and 2008 and some 2008 uncirculated coins inadvertently were struck with the 2007 reverse type die resulting in a die error . The variety is distinguishable by differences in the "U" in UNITED STATES and the dash between SILVER and ONE . As

4048-624: The Treasury James A. Baker III presided over the striking ceremony held at the San Francisco Assay Office. According to a Chicago Sun-Times article, as Baker "reached for the electronic button on press No. 105, he turned to the audience and said, 'I don't need a pick and shovel to start the San Francisco Silver Rush of 1986.'" Bullion Silver Eagle coins do not have mintmarks. From 1986 to 1998, they were produced at

4136-456: The U.S. Bicentennial was issued. From 1971 to 1974, proof silver-clad Eisenhower dollars were issued in a plastic case contained in a brown wood-grain finish slipcase box, and are referred to as "Brown Ikes". Proof Susan B. Anthony dollars were struck in 1999. Although these proof dollars were sold separately and not included in the proof sets for that year, some third parties used the cases from other years to create 1999 proof sets that include

4224-472: The United States Mint announced that the proof and uncirculated versions of the Silver Eagle coin for that year were temporarily suspended due to continuing high demand for the bullion version. The allocation program that had been put in place in March 2008 was lifted on June 15, 2009, leading to speculation that proof and uncirculated versions might be produced before the end of the year. However, on October 6, 2009,

4312-497: The United States Mint began an allocation program, effectively rationing Silver Eagle bullion coins to authorized dealers on a weekly basis due to "unprecedented demand". At least one observer has questioned the legality of the allocation program, as the Treasurer of the United States is required by law ( 31 U.S.C.   § 5112(e) ) to mint and issue these coins "in quantities sufficient to meet public demand". On June 6, 2008,

4400-539: The United States Mint has produced a proof version and an uncirculated version for coin collectors . The Silver Eagle has been produced at three mints: the Philadelphia Mint , the San Francisco Mint , and the West Point Mint . The American Silver Eagle bullion coin may be used to fund Individual Retirement Account investments. The design on the coin's obverse was taken from the "Walking Liberty " design by Adolph A. Weinman , which originally had been used on

4488-589: The United States Mint, I appreciate the disappointment of these collectors, but I am encouraged to know that the Subcommittee is exploring the possibility of an amendment to the law that would afford the Secretary the authority to approve the minting and issuance of American Eagle Silver Proof and Uncirculated Coins even when we are unable to meet the public's demand for the bullion versions of these coins. American Eagle coin collectors and our many other customers who purchase these products as gifts would likely welcome such

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4576-471: The amended bill three days later and it was signed into law by President Reagan on July 9, 1985. Thus, the authorizing law for the American Silver Eagle bullion program is Title II of Public Law 99-61 ( Liberty Coin Act ) codified as 31 U.S.C.   § 5112 (e)-(h). The authorizing legislation for the American Silver Eagle bullion program stipulated that the silver used to mint the coins be acquired from

4664-411: The coin possesses reeded edges , which are grooves along the perimeter, serving as a visual and tactile authentication measure. This technique discourage attempts to steal metal from a coin through clipping or filling as it makes any tampering obvious. Coins produced from 2021 have a further anti-counterfeiting feature of a missing reed or notch on its edge that changes depending on the mintage year of

4752-605: The coin. Additionally, the use of advanced technology has resulted in intricate designs and high-definition details, such as the finely engraved inscriptions and the realistic rendering of the Walking Liberty image. Furthermore, the Silver Eagle features a unique mint mark , indicating the specific U.S. Mint facility responsible for its production. This mint mark further enhances the coin's traceability and helps verify its origin. [REDACTED]  This article incorporates public domain material from websites or documents of

4840-439: The coins are much greater than their face values. In one notable case, this was involved in a money laundering and tax evasion case where defendant Robert Kahre paid employees a wage in bullion coins with a fair intrinsic value but a very low face value, then proceeded to use the low face values to claim zero tax withholdings, allegedly defrauding a total of $ 120 million. All denominations of the proof American Platinum Eagles carry

4928-401: The difference between these and proof sets. These are uncirculated coins that have been specially packaged, and are generally neither as expensive nor as valuable as proofs. There are some exceptions, however. Those produced from 1947 to 1958 (none were made in 1950) were double sets packaged in cardboard holders and have good collector demand. Because mint sets contain specimens from each mint

5016-489: The dollar, prompting the U.S. Mint to advise the public that these sets were not government-issued sets. A proof "Coin & Chronicles" set was issued for 2009, which included one each of the 4 different Lincoln Cent designs and a commemorative Lincoln Silver Dollar, presented in special packaging. Other sets, called "Prestige Proof" sets, also contain selected commemorative coins . These sets were sold from 1983 to 1997 (except 1985) at an additional premium. As Legacy Proof sets,

5104-497: The end of July 2015. This was the second time the mint's silver coins had sold out in the past nine months. The Mint ran out of 2014-dated American Eagles in November 2014. In 2013, the historic drop in silver increased demand for silver coins, forcing the mint to ration silver coin sales for 18 months. On March 28, 2020, the West Point Mint, believed to be the only producer of bullion American Silver Eagles from 2018 up until early 2020,

5192-481: The end of the year. This effort was not successful and the collectible versions were not produced. The sale of 2009 Silver Eagle bullion coins was suspended from November 24 to December 6 and the allocation program was re-instituted on December 7; the product sold out on January 12, 2010. Production of the 2010 Silver Eagle bullion coins began in January of that year (as opposed to beginning typically in December preceding

5280-475: The federal stockpile, futures traders start unloading futures contracts in speculation that such a sale would depress prices." Despite congressional opposition to the sale of stockpiled silver through early June 1981, the House Armed Services Committee decided on June 10 to approve a Reagan administration request to sell government-owned silver beginning in fiscal year 1982 to help balance

5368-466: The five cent, dime, and half dollar coins. Proof sets containing only 2009 cents, 50 State quarters, America the Beautiful quarters, Presidential dollars, and American Innovation dollars are also available. The U.S. Mint has also released special proof sets, such as in 1976, when a proof set of three 40% silver-clad coins: the quarter, half-dollar and dollar coins depicting special reverses to commemorate

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5456-482: The following requirements: Authorized purchasers must order a minimum of 25,000 coins which they sell to secondary retailers that sell them, in turn, to the public. When sales of Silver Eagle bullion coins began in November 1986, the Mint had approved twenty-eight authorized purchasers to market the coins throughout the world. Bullion coins are shipped in so-called "monster boxes". Each green plastic box holds 500 coins which are packaged in 20-coin plastic tubes. On

5544-416: The foreground" 20th Anniversary Commemorative "Lady Liberty planting seeds for future sustenance, lighting the way westward, and harvesting the well-worked crops" "Lady Liberty keeping watch over prairies, lakes, and mountains as pioneers head westward" "Lady Liberty plants seeds for future sustenance, lighting the way westward, and harvesting the well-worked crops." "The obverse (heads) design depicts

5632-413: The form of an amendment (S.AMDT.418) to H.R. 47 , the "Statue of Liberty-Ellis Island Commemorative Coin Act". McClure's amendment—the "Liberty Coin Act"—added a new section (Title II) to H.R. 47. The amendment may be summarized into the following points: Proposed on June 21, 1985, the Senate agreed to McClure's amendment by voice vote on the same day and it was added to H.R. 47; the House approved

5720-518: The gold and silver bullion coins produced by other countries. ..." To ensure wide distribution of the coins, the United States Mint awarded a contract to Grey Advertising to assist in marketing and publicizing the coins domestically and internationally. Advertising efforts were expanded in fiscal years 1987 and 1988. Like the American Gold Eagle and American Platinum Eagle bullion coins, Silver Eagle bullion coins are not sold directly to

5808-410: The government's silver stockpile will be indefinitely postponed" as the government's legally required study on potential methods of selling the silver had been delayed. On January 27, 1983, Senator McClure introduced another bill ( S. 269 ) almost identical to S. 2598. As he had in the earlier bill, the senator asked, ... if we are forced to accept a sale, why use the method guaranteed to depress

5896-481: The inscription WITH THE RIGHT TO ASSEMBLE LIBERTY SPREADS." "The obverse (heads) design features a mature, spreading, impressive oak tree between the inscription WITH THE RIGHT TO PETITION LIBERTY ENDURES. The oak, known for its strength, can live up to 200 years and is a symbol of endurance." On November 28, 2007, the U.S. Mint announced the American Eagle 10th Anniversary Platinum Coin Set. Intended to commemorate

5984-409: The lid of each box are two raised Department of the Treasury seals and the phrase "United States Mint" in raised lettering. Before shipping, the boxes are sealed with straps by the Mint and labeled with the year of issue and a serial number. Proof American Silver Eagle coins dated 1986 through 2008 were sold directly to the public by the United States Mint at a fixed price. The coins were packaged in

6072-450: The millions, while the proof and uncirculated versions were issued in the hundreds of thousands each. Most dates of the bullion issue are not particularly expensive (around $ 25 as of September 2016) and are traded at a premium above the intrinsic value of the silver they contain; most proof versions (around $ 65–$ 75 as of 2016) and uncirculated versions (around $ 25–$ 75 as of 2016) sell for more. Some issues sell for significant sums, for example,

6160-515: The mint. American Silver Eagle The American Silver Eagle is the official silver bullion coin of the United States . It was first released by the United States Mint on November 24, 1986, and portrays the Goddess of Liberty in a design by Adolph A. Weinman that was originally used on the Walking Liberty half dollar from 1916 to 1947. The American Silver Eagle is struck only in

6248-404: The one- troy ounce , which has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver . It is authorized by Title II of Public Law 99-61 (Liberty Coin Act, approved July 9, 1985) and codified as 31 U.S.C.   § 5112 (e)-(h). Its content, weight, and purity are certified by the United States Mint. In addition to the bullion version,

6336-435: The original die being present on the proof that may not be present in such detail on circulation strikes. After being struck, they are separately and individually handled, in contrast to normal coins which are collected in bins. William Wellesley Pole undertook the first rigorous attempt to catalog the coinage of Great Britain and Ireland starting in about 1816. Starting that year, proof specimens of coins and medals struck at

6424-498: The phrases UNITED STATES OF AMERICA , 1 OZ. FINE SILVER•ONE DOLLAR , and E PLURIBUS UNUM , as well as the mintmark if applicable. From 1986 to 2021, the reverse design was by John Mercanti and portrayed a heraldic eagle behind a shield; the eagle grasping an olive branch in its right talon and arrows in its left talon, echoing the Great Seal of the United States ; above the eagle are thirteen five-pointed stars representing

6512-438: The practice was resumed from 2005 to 2008. Occasionally, there are errors which escape the Mint's inspection process, resulting in some very rare and expensive proof sets. This has happened at least seven times: 1968-S, 1970-S and 1975-S and in the 1983-S Prestige set, each with a dime that has no mint mark; a small number of 1971-S sets included a nickel without a mint mark; 1990-S saw both regular and Prestige sets which included

6600-562: The precious metal value of the coins in a mint set could exceed the value of a proof set for common dates. Another exception is the 1996 mint set, which, in addition to specimens from the Philadelphia and Denver mints, contained a Roosevelt dime from the West Point mint (commemorating the 50th anniversary of the Roosevelt dime) and which was available only in this mint set. From 1965 to 1967 the mint did not sell proof or uncirculated coins, but only

6688-402: The price and dispose of the silver with the lowest possible return to the taxpayers[?] Why not instead, if we must sell, at least get as much for it as we can? Therefore, today, I am introducing legislation which provides that in the event the President proposes and Congress authorizes the sale of silver from the strategic stockpile, this silver would be sold through the minting and distribution of

6776-418: The price of platinum, the Mint suspended sales on February 13, 2008, and resumed sales about a month later at $ 2,649.95. Initially, the increased price constituted a larger premium, around $ 635, above spot. The following months brought a decline in platinum's price below $ 1,000 per troy oz, precipitating further suspensions and a final price of $ 1,249.95. When sales were officially ended on December 31, 2008, over

6864-449: The proceeds would be used to buy materials more urgently needed for the stockpile rather than merely to reduce the federal deficit." Throughout the period, such sell-offs that did occur, as well as announcements of planned sell-offs, caused immediate declines in the price of silver. The Wall Street Journal reported in September 1976, "When the US government makes noises about selling silver from

6952-427: The proof designs and were struck on burnished coin blanks with a "W" mint mark signifying West Point , further distinguishing them from the bullion versions. The 1 ⁄ 10 , 1 ⁄ 4 , and 1 ⁄ 2 troy oz coins are identical in design to the 1 troy oz coin except for the markings on the reverse side that indicate the weight and face value of the coin (for example, .9995 PLATINUM 1 OZ. ). As

7040-513: The public by the United States Mint. In order to provide "effective and efficient distribution, which maximizes the availability of the coins in retail markets as well as major investment markets" the Mint utilizes a network of "authorized purchasers" to distribute the coins. The coins are sold in bulk at a premium ($ 2.00 per coin effective October 1, 2010) over the spot price of silver. The coins are sold to banks, brokerage companies , coin dealers, precious metal firms, and wholesalers that meet

7128-543: The rarest uncirculated issues to date. Although these coins were physically identical to the West Point coins, coin grading companies began certifying Philadelphia Mint Silver Eagles as "Emergency Issues." Production at West Point continued on April 21. Sales of American Silver Eagle bullion coins began on November 24, 1986, and initial inventories sold out "immediately due to the phenomenal demand". Silver Eagle bullion coins, along with American Gold Eagle bullion coins, were planned as "viable investment alternatives to

7216-483: The sale of silver from our national defense stockpile in an effort to minimize its affect [ sic ] on the already depressed price of silver." An identical companion bill, H.R. 6649 , was introduced on June 22 by Representative Larry E. Craig (R-Idaho) but both bills were referred to committees and never were enacted. The Wall Street Journal reported on June 30 that the price of silver "soared after Interior Secretary James Watt announced that sales of

7304-505: The silver authorized for disposal is excess to the requirements of the stockpile." The appropriations bill was signed into law (Public Law 97-114) with the amendment intact, effectively stopping the further sale of stockpiled silver. On May 27, 1982, Senator McClure introduced bill S. 2598 , "A bill to provide for the disposal of silver from the National Defense Stockpile through the issuance of silver coins", to "redirect

7392-411: The silver coins in silver proof sets contained “coin silver,” 90% silver and 10% copper, the same silver content as coins minted through 1964. Beginning in 2019, silver coins in silver proof sets were issued in “fine silver,” 99.9% silver, the same silver content as silver bullion coins. Starting in 1947 the U.S. mint began producing "mint sets", and because of the terms used there is some confusion over

7480-700: The two Lewis and Clark nickels . The 2007–2016 proof sets also include Presidential dollars . The 2010-2021 proof sets also contain America the Beautiful quarters , depicting different National Parks and Monuments. Proof sets issued in 2009 contain 18 coins   — the most ever included   — as that year featured four different reverses for the Lincoln Cent, six quarters issued under the District of Columbia and United States Territories quarters program, four Presidential and one Native American dollar struck that year, and

7568-623: The year of issue) and the coins were distributed to authorized dealers under an allocation program until September 3. On July 20, 2010, Mint Director Edmund C. Moy provided testimony to the House Subcommittee on Domestic Monetary Policy and Technology on the matter of proof and uncirculated Silver Eagle coins, referencing the possibility of a legislative solution. Moy explained: ... [B]ecause we could not produce these popular coin products, those who had become accustomed to purchasing them on an annual basis were very disappointed. As Director of

7656-525: Was shut down for cleaning after an employee tested positive for SARS-CoV-2 . The facility reopened on April 1, and bullion coin production was reduced to prevent employee exposure to COVID-19 , before once again being shut down on April 15 due to safety concerns. To make up for the reduced and later suspended production of silver bullion coins, the Philadelphia Mint struck 240,000 American Silver Eagles from April 8 through April 20, making them among

7744-411: Was slightly updated in 2021 (along with the reverse redesign) to feature a new rendering of Weinman's design and the addition of his artist mark under IN GOD WE TRUST . The newly designed reverse of the 2021 American Silver Eagle (Type 2) was designed by Emily Damstra and shows an eagle landing on a branch; much like that of the reverse of the 1971 Eisenhower Dollar Coins. The reverse is inscribed with

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