Silver Eagle Coins Knowledge

Silver Eagle Coins are probably one of the most well-liked silver us coins to collect and here is some history.


The world economy, for several centuries, based the worth of its currency on that of gold, a practice called the “Gold Standard”. As time passed, the “Silver Standard” got well-liked among the European nations. Gold and silver were both used for a time to determine the worth of currency for different countries.


America also adhered to the dual metal standard, and by 1873 was using the peso or “pieces of eight” (also known as Spanish real) to set its silver standard. The gold standard was based on the gold coin known as the “Eagle” which was in high demand in Europe following the First World War. The free banking crisis through the Reformation Period following the American Civil War heralded the end for the silver standard. By the mid-20th century, silver coins were no longer issued as people required a paper currency backed with gold reserves following the economic turmoil of World War I and the Great Depression.


But, the dismal economy of the 1930s caused Congress to switch to the silver standard from the gold standard in 1933. The U.S. Treasury, not the Federal Reserve traded silver dollars and silver bullion through silver certificates until 1968. In the 1970s, Congress permitted the Defense National Stockpile to sell off its surplus silver by the early 1980s. This led to silver coins, such as the American Silver Eagle, being struck in 1986, decades after the last silver coins had been produced.



Production firstly started in San Francisco in 1986 and coins were marked with “S”. This run lasted until 1992. The coins were issued in Philadelphia and marked using a “P” for the next seven years. Since 2001, the American Silver Eagle has been manufactured at West Point and given the “W” mintmark.



Due to recent financial difficulties, the 2010 Proof Silver Eagle Coins has become record setting silver bullion coins in terms of sales. An anticipated shortage, projected by a weak start to the year, forced producing and sales to continue to November 19, 2010. In spite of the cost of $45.95 per coin, the United States Mint has limited each home to a purchase of only 100 coins.