The American Silver Eagle – 1 oz is the official national silver bullion coin of the United States. It is the world’s most widely sold 1 oz silver coin.
The Silver Eagle is minted by the U.S. Mint. Each coin contains 1oz of .999 fine silver that is guaranteed by U.S. legislation. Therefore, the coin is backed by the U.S. government.
The coin is highly stylised and reputed for its high quality finish, essentially pure silver content, and historical design. The Eagle has only ever been produced in a 1 oz form. Unlike other well-known bullion coins, smaller fractional denomination Silver Eagles such as a ½ oz version were never created.
The American Eagle Silver is a 1 troy ounce coin of 0.999 fine silver. This means that the coin weighs 31.103 grams and the silver content of the coin is 31.072 grams. The American Eagle has a diameter of 40.6mm, a thickness of 2.98mm and its edges have a receded texture.
The obverse of the coin displays an image of the Goddess Liberty, and is known as the “Walking Liberty”. The reverse of the coin features a heraldic eagle design, created especially for the 1986 launch of the coin. The 1oz coin design portrays the eagle behind a shield, and is similar in composition to the eagle found on the U.S. one-dollar bill.
The American Eagle Silver bullion coin has a highly liquid market. The U.S. Mint has produced and sold over 335 million Silver Eagles since 1986, in other words, 335 million ounces of silver. This is over 10,000 tonnes of silver. Silver Eagles are widely held and well known globally so they have a huge secondary market and a large dealer network.
The bullion Silver Eagle contains 1 troy ounce of .999 fine silver and is easy for investors to value since, excluding premiums, its price roughly tracks the world silver price.
Silver Eagles are a simple way to add a tangible silver asset to an investment portfolio and silver is proven to have a low correlation with most traditional investment asset classes, thereby providing portfolio diversification benefits.
The American Eagle Silver bullion coin is congressionally authorised by the U.S. Congress and its weight and purity of silver is backed by the U.S. Government.
New sales of Silver Eagles from the U.S. Mint will be in uncirculated condition. Purchases on the secondary market will also be in uncirculated condition since the American Eagle has never circulated as currency.
The 1 ounce denomination makes the coin easy to transport and carry and this divisibility may also be useful if a partial investment needs to be traded in the future.
The United States Mint founded was founded in 1792 and is the official mint of the U.S. Government. It is headquartered in Philadelphia. And is a bureau of the United States Department of Treasury.
In addition to Philadelphia, the Mint operates minting facilities at its branches in Denver – Colorado, San Francisco, and at the West Point facility in upstate New York.
The U.S. Mint produces U.S. circulation coinage, proof and commemorative coins and medals, and also silver, gold and platinum American Eagle bullion coins.
The silver stockpile was established in 1968 via a 165 million ounce silver deposit by the U.S. Treasury and was stored in San Francisco and West Point. In 1986 the stockpile totalled approximately 140 million oz.
The U.S. Mint then began drawing from this stockpile and this was the source of metal for Silver Eagle coins from 1986 to 2002. By 2002 the stockpile became depleted.
The U.S. Mint first launched the Silver Eagle in late 1986, and it has been in constant demand ever since, with particularly heavy demand since 2008.
Before the modern Silver Eagle, there had been a long history of U.S. Silver dollars which circulated as currency.
The original silver dollar issued from 1794 to 1803 was created at the behest of Thomas Jefferson. From 1840 to 1873 a ‘Seated Liberty’ silver dollar circulated. From 1878 to 1921 the silver dollar was known as a ‘Liberty Head’ or ‘Morgan Dollar’. Following this, a silver ‘Peace Dollar’ was issued from 1921 to 1928 and again from 1934 until 1935. Then there was a 50 year gap before silver dollars in the form of the American Eagle began to be produced in 1986.
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GoldCore offer Silver Eagles and all leading silver bullion coins and deliver in the U.S. and Canada.
We deliver silver bullion coins through fully insured international shipping services and national postal services such as Fedex and UPS.
Insured delivery in the U.S. and Canada for silver bullion coins is generally 4 to 10 working days. For certain products and during periods of high demand delivery can be a maximum of 15 working days. Insured delivery costs are competitive.
Note: Minimum order for delivery of Silver Philharmonic Coins is 20 troy ounces or one tube.
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For larger amounts or those seeking added liquidity, investors can buy American Eagle Silver Bullion Coin “monster boxes” and own them in allocated and segregated storage in GoldCore Secure Storage.
GoldCore offer U.S. and Canadian clients fully insured secure storage facilities in the safest vaults in the safest jurisdictions in the world – in Zurich, Lichtenstein, London, Hong Kong and Singapore.
New American Eagle Silver Bullion Coins issued by the US Mint are distributed in Brilliant Uncirculated condition and can be securely stored in their original tube and box packaging in which they are issued.
The US Mint packages the silver maple leaf in 500 coin quantities, packaged in tubes of 20 coins per tube, with 20 tubes per box. These boxes are colloquially known as monster boxes and measure about 8” by 10” by 5”, i.e. 400 cubic inches.
Note: Minimum order for storage of American Eagle Silver Bullion Coins is a monster box (500 coins)
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Important Information Regarding the Storage of Vat Free Silver Coins.
All silver (including Silver Coins) stored in non London Vaults (Hong Kong, Singapore, Zurich) are kept in bonded warehouses. This means that your silver is not stored in a specific location for taxation purposes and VAT has not been assessed. If you decide to move your assets VAT may become payable at the applicable rates set by the country the asset is exported to.
If you are a European resident and you wish to own Vat Free silver coins and have them professionally stored, with the possible intention of taking delivery in the future you should opt to have your silver stored in our London vaults. Please note, GoldCore are not tax advisers, clients should seek the advice of their tax advisers before carrying out any transaction.
If you do not intend to take delivery of your silver, then all Storage locations are acceptable.