One of the most beautiful silver coins in the United States today is the Silver American Eagle coin. This is perhaps the most easiest to collect for bullion because it’s very accessible and at attractive prices. As of October 2020, you can buy a coin for around $27. The coin was first minted on November 24, 1986 and comes in a single troy ounce with a nominal face value of $1.00. Of course with Silver trading far above the face value, it’s typically bought as a store of wealth or speculation.
Note: Collecting Silver Bullion for speculation can be a very volatile and you should only do it if you know what you are doing!
For those non-bullion buyers, the US Mint also produces a proof and uncirculated version for numismatics (aka coin collectors). Currently, the most sought after minted silver eagle coin is from the West Point Mint.
The front of the coin (obverse) is the “Walking Liberty” design by Adolph A. Weinman. It has Lady Liberty walking with flowing robes as the sun rises. This is a very iconic design and is seen in various forms on older US coins.
The back of the coin (reverse) has the American Eagle with the Mint market.
Where to Buy American Silver Eagles
There are two ways to buy American Silver Eagles. You can purchase them directly from a coin/metals dealer or you can purchase them online from a reputable store. You will be paying a ‘spread’ cost to purchase the coins as the dealers and stores need to adjust for the market price swings.
Under normal market conditions, you might pay $3 over spot to purchase a 1 oz coin. Likewise you might be able to sell a coin for $3 under spot prices for a 1 oz silver bullion coin. Under volatile market conditions like we are experiencing now, it could be as high as $10 over or under spot price of Silver.
A search of Amazon for American Silver Eagle coins gets you a nice list at current retail prices.
Silver Eagles for you Retirement Accounts
American Silver Eagle Bullion one of approved precious metals for Individual Retirement Accounts (IRA’s).