American Silver Eagle Coins: A Guide to the 2023 Collection

Are American Silver Eagle coins part of your coin collection? Silver Eagle coins and collectibles are extremely valuable, and in high demand among collectors. Since they were first created in 1986, American Silver and Gold Eagles have been an extremely popular choice for collectors. Why are American Eagle coins so highly valued, and why should you add them to your collection?

In this blog post, we’re honing in on the Silver Eagles. We discuss:

• What are American Silver Eagle coins?
• The history of American Silver Eagle coins
• What’s new for the 2023 Collection?
• The design and specifications of the 2023 Collection
• How and why to buy American Silver Eagle coins

While very large numbers of these coins are minted every year, the popular Silver Eagle coins include proof coins and reverse proof coins.

A relook at American Silver Eagle coins

We last spoke about American Silver Eagles here. But as they are our favorite coins we don’t mind re-capping its history and how it has changed over the last few years.

Since they were first minted in 1986, American Silver Eagle coins have contained one troy ounce (31.103 grams) of 0.999 fine silver bullion. It has a nominal face value of one US dollar. The coin’s obverse design is based on the iconic Walking Liberty half dollar, which was created by Adolph A. Weinman in 1916. This design is iconic and extremely popular, which is why it was revived for the Silver Eagle decades after its creation.

This design has been in use on the American Silver Eagle coin obverse continuously since its release in 1986. On the obverse of the coin are three inscriptions: the year of minting or issuance, the word LIBERTY, and the phrase IN GOD WE TRUST.

Initially, the reverse of the coin used a design of the heraldic eagle behind a shield, reflecting the Great Seal of the United States and thirteen five-pointed stars to represent the Thirteen Colonies.

This design was phased out in 2021, in favor of a bald eagle landing on a branch. This new reverse was designed by coin and medal designer Emily Damstra. In addition to the image of the eagle, the reverse is inscribed with the following phrases: UNITED STATES OF AMERICA, 1 OZ. FINE SILVER, ONE DOLLAR, and E PLURIBUS UNUM. The mint mark is also included where applicable.

The US Silver Eagle coins are legal tender with a face value of one dollar, and have an intrinsic value thanks to their silver content. In addition, the high production quality and excellent design have kept the American Silver Eagle coin collection popular since 1986.

The History

The American Silver Eagle coins arose as a result of an executive decision made in the early 1980s to sell off silver from the National Defense Stockpile and reduce the federal deficit. Domestic production of silver far exceeded strategic needs. In June 1985, Senator McClure of Idaho (a major silver-producing state) introduced legislation for the third time, requiring that sales of the stockpiled silver should be conducted through the issuance of coins minted from the silver.

His legislation included an amendment, the ‘Liberty Coin Act’, which laid down coin specifications, numismatic and legal tender statuses, and more details. By 2002, it became clear that the silver used to mint the coins would soon be depleted. Legislation was therefore passed to purchase silver on the open market to keep the American Silver Eagle program alive.

While the mint state US Silver Eagle coins do not bear mint marks, proof coins bear different mint marks based on where they were minted.

In 2008, the recession led to a very high demand for silver bullion coins. As a result, supply could not meet demand during the period. In February 2008, sales to authorized dealers were temporarily suspended. By April, the United States Mint began an allocation program to authorized dealers, and by June, had paused the production of proof or uncirculated collectable items.

In 2010, legislation had passed to ensure that these bullion coins would be available in the quantity and quality demanded by the American consumer and collector. This continued until March 2020, when the West Point Mint shut down after an employee tested positive for COVID-19. This was, at the time, the only producer of bullion American Silver Eagles. Between April 8 and April 20, 2020, the Philadelphia Mint took over to strike 240,000American Silver Eagles. Though identical to the West Point coins (as US Silver Eagle coins do not bear a mint mark) they are certified as ‘Emergency Issues’ and are among the rarest Silver Eagle coins to date. They are uncirculated issues.

What's new for the 2023 Silver Eagle Coin Collection?

So far, almost four million American Silver Eagle bullion coins have been minted in 2023. The design of the American Silver Eagle coin was refreshed in 2021 to change the reverse design and update the obverse. Technological advancements have made it possible to render the Weinman obverse design with greater accuracy, getting closer to the original design. The reverse design now features an eagle approaching landing, with an oak branch in its beak.

These most valuable American Silver Eagle coins have been in production for 38 years now. The US Mint and US Government guarantee the purity, weight and content of the IRA-eligible American Silver Eagle bullion coin.

The design and specifications of the 2023 Collection

The 2023 edition of the American Silver Eagle collection is expected to include four different versions of the highly sought-after coins. That includes:

• Regular Mint State Silver Eagle
• West point Mint Proof
• West point Mint Uncirculated (burnished)
• San Francisco Mint Proof

The American Silver Eagle is 40.6 mm in diameter and 2.98 mm thick.

Since the 2021 batch of American Silver Eagles, the reeding on the edge of the coin has been customized to act as a security feature.

Why buy American Silver Eagle coins?

When you’re purchasing silver, you will need to choose between generic silver, such as Silver Buffalo rounds or bars, or premium coins created by a government minting facility, such as American Silver Eagle coins. How do you choose between them?

First, you have to remember that generic silver is cheaper than premium coins. While it’s more expensive to purchase actual coins, as compared to a pure silver bar or round of the same weight, the premium per ounce is greater for American Silver Eagle coins for sale.

In return, the Silver Eagle comes with three major advantages:

1. It’s backed by the United States of America
2. It’s created by a designated Mint, with specific security features to confirm authenticity
3. Each coin can be certified by a third party grading company like NGC or ANACS

So, is it worth the extra cost to buy American Silver Eagle coins? If you’re starting out as a new collector, definitely. Unless you’re an expert, it’s difficult to authenticate unbacked generic silver coins. This means that you may end up with coins that aren’t truly 99.9% pure silver, which can come as a nasty shock at the time of sale! American Silver Eagles on the other hand are easily authenticable, especially when you make your purchase from an authorized dealer like Cable Shopping Network.

While hundreds of thousands of Silver Eagles are minted every year, proof coins, reverse proof coins and certain dates of the Silver Eagle coins are relatively rare, giving them greater numismatic value.

The Silver Eagle Collection 2023 has been launched, but not all coins have been released yet. So now is a great time to buy US Silver Eagles! You never know when you’re going to come across the most valuable American Silver Eagle coins!

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