Silver American Eagle
The Silver American Eagle, or Silver Eagle for short, is the official silver bullion coin of the United States Government. By law, the US Mint must mint and distribute Silver Eagles every year, and they must be made from US mined silver. The American public has been enjoying these beautiful coins since 1986 – the first year they were produced. Since these are bullion coins, they aren’t intended for numismatic value. Rather, their value lies in the silver content. With the small 1 ounce size, Silver Eagles are a great way to invest in silver.
What is a Silver Eagle?
An American Silver Eagle is a silver bullion coin. It contains one troy ounce of pure .999 fine silver. The silver content and weight is guaranteed by the United States Government – no other silver coin can make that claim. When you buy a Silver Eagle, there’s no need to worry about the authenticity – you’re buying 1 troy oz of pure silver, period. Counterfeits are unlikely to be about – remember, this is a US coin. Any counterfeiters would have to face the wrath of the US Secret Service.
How can I buy Silver Eagles?
You can purchase Silver Eagles individually, or by the tube. Twenty eagles come in a single tube – so that’s twenty ounces of silver. When figuring the price for Silver Eagles, take the spot price of silver and add a dealer premium. These days, premiums on Silver Eagles are in the $2.50 – $3 per ounce range. Given the beauty of the coins, and guaranteed silver purity and content, that’s not horribly unreasonable. There are less expensive options out there, if you’re looking to get the most silver for your buck.
Most coin dealers will have at least a small stock of Silver Eagles. If you prefer to purchase online, there are dozens of places to buy. Some of my favorties are APMEX, Bullion Direct, and Kitco. If quantity is your thing, I understand the Tulving has some great volume pricing. His minimum order is 100 ounces though, so don’t think you can get the volume discount on a couple Eagles.
Silver Eagles are Legal Tender
Each and every Silver Eagle is legal tender – meaning you can use it to purchase goods and services, just like you would use that green stuff in your wallet. The fact value is $1, meaning it’s just as good as a $1 bill or Presidential dollar coin. However, you wouldn’t actually use a Silver Eagle to purchase a soda. Today’s going rate for an Eagle is somewhere around the $15.50-$16.00 range. So even though you wouldn’t use it like cash, it’s great to know you can. At the very worst, this coin will always be worth at least one dollar.
Leave a Comment
If you would like to make a comment, please fill out the form below.
Recent Comments