American Silver Eagle Proof Coin 2011 - 1oz

American Silver Eagle Proof Coin 2011 - 1oz
 

Responding to the production and sale of silver and gold coins by other countries such as Canada and South Africa, Congress authorized the U.S. Mint to begin producing gold and silver bullion coins in 1986.

The U.S. bullion coins became known as “American Eagles” because of the representation of that national symbol on the reverse of the coins. Because of their relatively low price and general availability, Silver Eagles have been extremely popular with the public since the initial 1986 release. Though silver Eagles display a face value of one dollar, the trade value is determined by the current per ounce price of silver, usually many multiples of the face value. Many purchasers of Silver Eagles buy the coins in order to own silver as a supplemental investment. However, the coins have also become a collectible, and many today endeavor to assemble a complete set of the issue, particularly the certified proof coins at the top end of the grading scale.

Nearly three million business strike Silver Eagles have been certified to date, ranging from tens of thousands to hundreds of thousands of coins per date. Most coins grade as near-Gem or finer, and coins graded up to MS68 trade close to bullion prices. MS69 coins are more expensive, though still at modest prices, but MS70 coins for some dates are expensive. Pieces with higher (yet still modest) premiums are 1995; 1996; 2006-W, particularly the 20th Anniversary issues; and the 2008-W Reverse of 2007, to date the most expensive Silver Eagle at grades lower than MS70. First Strike and Early Release coins have modest premiums above regular issues.

Hundreds of thousands of proof Silver Eagles have been certified, and prices are approximately two to four times the bullion value for most issues. Moderately more expensive coins are the 1993 through 1995 and 1997 Philadelphia coins, and 2006-P 20th Anniversary issues. The relatively low mintage 1995-W issue is the highest priced issue to date, expensive at all grades, but very expensive as PR70.

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Designer: Obverse, from Adolph A. Weinman’s Liberty Walking half dollar; reverse by John Mercanti

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