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The American Silver Eagles are the official silver bullion coins put out by the US Mint. They were first released in 1986. Now there is a coin set of the American Silver Eagles to celebrate the 20th anniversary of the American Eagle Coin Program. This 2006 three-coin set contains an American Eagle Silver Proof Coin, an American Eagle Silver Uncirculated Coin, and an American Eagle Silver Reverse Proof Coin. It is the first time that the US Mint is offering the reverse proof coin.
Did you know Silver Eagles and Gold Eagles could become investments for your retirement plan? Since 1987, an investor with an interest in placing his Silver Eagles or Gold Eagles into his IRA could do so. The stipulation with this allowance is that since the 1987 tax year, people are not qualified to invest in an IRA any longer. However, there is a loophole to the dilemma according to the Shelton Taxation Professor of Texas A & M University, Larry Crumbley. Crumbley states that hard assets like rare coins as well as American Eagles do qualify for use within corporate pension plans as well as Keogh plans for the self-employed.
According to Pedro Collazo-Oliver, a former American Numismatic Association Grader, the likelihood of a coin collector buying a counterfeit rare coin is very small. However, in the case of the American Eagle coin, there is a possibility you'll obtain a counterfeit from purchasing a Platinum American Eagle on eBay. In a 2003 article in Coin World magazine, author Paul Gilkes warns of counterfeit 2002 Platinum American Eagle coins. These counterfeit American Eagles are the 1/10 oz. versions. Counterfeit American Eagles began surfacing on eBay in 2003.
Not to be confused with the American Eagle Silver Coins, American Eagle Platinum coins are a variation on its silver counterpart. The US Mint struck the first American Eagle Platinum coins in 1997, offering them as uncirculated coins as well as proof coins. John Mercanti, who designed the eagle on the silver version, lends his design to the platinum coin, with the head of Lady Liberty on the obverse. The reverse side always shows a variation of an eagle design, which changes annually. The platinum coin comes in a 1/10 oz., 1/4 oz., 1/2 oz, and 1 troy oz. version.
There is a single coin silver proof set of the American Eagle available. This single coin silver proof set is the 2006 uncirculated version of the American Eagle coin. The coin carries a mint mark, distinguishing it from its silver bullion counterpart. Each individual uncirculated American Eagle coin is encapsulated in a hard plastic container and comes with a satin lined velvet presentation case as well as certificate of authenticity. There is also a four-coin proof set available in platinum and gold.
Trying to distinguish the difference between the silver proof and the silver bullion version of the American Eagle? There are a number of differences in the two coins which affect its appearance, value, and purpose. To decipher all differences, read this quick guide.
In 2001, the Proof Silver Eagles moved from the Philadelphia Mint to the West Point Mint for their proof coin launch that year. According to the US Mint, this move was due to the plan to consolidate the production of all the American Eagles, including the gold, silver, and platinum versions. The US Mint is planning on keeping the production of Proof Silver Eagles and the coins will all have the “W” mint mark.
The American Silver Eagle, the US silver bullion coin, came out in 1986 in order to compete with coins like the Canadian Maple Leaf and the South African Krugerrand. The American Silver Eagle has a face value of $1. However, its bullion coin value, tied into its metal value is much higher than its actual face value. John Mercanti created the eagle design on the reverse side. The obverse side carries the Adolphe A. Weinman design from the 1916-1947 Half Dollars. The American Silver Eagle carries exactly one ounce of pure silver and is an alloy metal with 99.93% silver and .07% copper.
|Jennifer Mathes, Ph.D.|