American Silver Eagle Coins
Investing in silver is a splendid idea, and American Silver Eagle coins are a beautiful way to do it. These silver bullion coins are minted by the United States Mint which is a part of the U.S. Department of the Treasury. This reputable source of origin, along with the lovely artistic look of these bullion coins makes them highly desirable for investors and collectors alike. When you buy American Silver Eagle coins expect to pay a higher premium for them, because of this desirability. They can go for well over 50% of the melt value at spot price when purchased individually.
When buying silver bullion in larger quantities, many dealers offer a discount on the premium, so it often pays to buy more silver and to do it in fewer transactions.
These beauties feature a “walking liberty” figure on the front (obverse) of the coin. She is dressed in a flowing gown made of the stripes and stars, reminiscent of the US flag design. In her left arm she carries laurel and oak branches, symbols of our military and citizenry. Her right arm is held out before her in a welcoming gesture in the direction of her gait. The radiant sun rises above mountains in the background. The word LIBERTY arcs above her head, and the phrase IN GOD WE TRUST follows her.
The back (reverse) of the coin features the easily recognized heraldic eagle of the Great Seal of the United States. The eagle carries in its talons an olive branch and a clutch of arrows. In its beak it carries a banner reading “E PLURIBUS UNUM” which translates from Latin as “OUT OF MANY, ONE”. Above its head are 13 stars, and arcing above are the words “UNITED STATES OF AMERICA”. Arcing below the eagle are the words “1 OZ. FINE SILVER ~ ONE DOLLAR”.
The indication of ONE DOLLAR is not the value of the silver bullion in today’s US dollars. Rather, it is an indication of the amount of silver in the coin. A dollar used to mean a very specific amount of silver, similar to the ounce we use today. This amount used to be linked to the value of our paper dollars, which were printed and issued as silver certificates. When that was the case, a paper silver certificate could be traded in for one dollar of silver, an exact, standard, and predictable amount that did not fluctuate. This served to “back” the dollar with real value in precious metal.
The words FINE SILVER mean that the silver content is 99.9% pure sterling. This is a silver bullion coin, and being 99.9% (also stated as .999, with no digit leading the decimal point) pure silver, it is very soft. This softness is not good for coins used in standard circulation, because they can be easily damaged and worn away from friction. But for bullion it is perfect, because purity is paramount, and durability is not so important, since silver bullion coins are not circulated as money today.
You can buy American Silver Eagle coins directly from the US Mint, from authorized dealers, or from other parties on the Internet or local to you. Pawn shops are a great place to look for silver, because you may be able to buy silver below spot price at these locations. Do your homework first, then shop locally. On the Internet there are many websites that sell bullion, including Silver Eagle coins. Auction sites like seekbullion.com and ebay.com can have good deals too, but again, DO YOUR HOMEWORK FIRST, then buy.