The history of the silver American Eagle coin began in the mid eighties. It was first released into public circulation in the fall of 1986. The United States Mint produced a coin with a face value of one dollar, that was made up of 99.9% pure silver. The United States Mint certifies each and every coin that is struck.
There are three mints in the United States; West Point, San Francisco and Philadelphia. The coins have been made at all three of these locations. Uncirculated and Proof coins are also made in these locations. An eagle and shield provide the design for the front side, along with a symbolic 13 stars for the colonies. The other side portrays a Walking Lady Liberty.
At one point the National Stockpile had an abundance of silver. This extra silver is what allowed the coins to be produced. The program was not popular with everyone however. Many people were afraid that the price of the metal would go down and the profits from sell-offs would not be used wisely. After Regan became President, Congress decided to sell off 75 percent of the stockpile.
The American Eagle coin program was so successful, in 2002 Congress passed a bill allowing the purchase of silver from sources on the open market. The coins made from bullion are not marked by the mint. As recent as 2011, San Francisco’s mint has started preparations to resume the production of the coins.
During the years of 1986 through 1992, the proofs were made in San Francisco and stamped with an S. The Philadelphia mint produced them from 1993 to 2000 and the West Point mint took over during 2001 through 2008. They are currently the only mint striking proof. Philadelphia coins are marked with a P, and West Point strikes theirs with a W.
Uncirculated coins are the final type of American Eagle. They are the rarest and considered the most collectible. All of the minting was done at West Point. The uncirculated American Eagles have not been produced since the year 2008 making them a very desired item.
The strikings have a monetary value of one dollar. They are legal tender in the United States and many are still circulating. The value does change when you look at them from a collectors viewpoint. In recent years the proofs and uncirculated coins have sold for well into the thousands. This is because the quantities are smaller and people tend to keep them in better shape, so they hold their intrinsic value.
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In 1967, the South African government decided to help market South African gold by creating a gold coin designed to encourage private ownership of gold. Unlike many gold coins which were designed strictly for investment purposes, the Krugerrand was designed to be used in addition to regular currency. As much as this is a historic first in the gold coin market, there’s no denying that American Eagle gold coins, released almost 20 years later, has had more of an impact on the market than any other coin. Indeed, the American Gold Eagle is the most widely traded bullion coin, and there’s a good reason for that.
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