Exploring the Fascinating History of American Silver Eagle Mintage
By BullionMentor on November 6, 2023
Introducing the American Silver Eagle the official United States silver bullion coin. The US Mint started making Eagles on November 24, 1986. The American Silver Eagle is one ounce opure silver, and its face value is one dollar. The law that allows the mintage was passed in 1985.The US Mint guarantees the weight and purity of the silver. Collectors can get Proof and uncirculated versions. The coin is made in three mints: Philadelphia, San Francisco, and West Point. You can use the American Silver Eagle coin for your Individual Retirement Account (IRA) investments.
Let's explore the milestones, developments, and intricacies that have shaped the American Silver Eagle's minting history and heritage.
About US Mint
Since its establishment in 1792, the US Mint has produced and distributed many coins. Their products include circulating, precious metal, and collectible coins. They also manufacture national medals. The Mint is also in charge of safeguarding entrusted assets. The Mint is the exclusive manufacturer of legal tender coinage in the United States. Furthermore, the Mint produces various coin-related products (Proof, uncirculated, and commemorative coins- Congressional Gold Medals, and silver and gold bullion coins). The Mint's programs are financially self-sufficient and do not rely on taxpayer funding.
History of American Silver Eagle Coin
In 1986, the United States Mint initiated the mintage of new silver and gold coins annually. On the silver front, the American Silver Eagles took the spotlight. As of mid-2010, the cumulative production of silver dollars exceeded 230 million coins.
Understanding silver eagle mintage can be confusing due to their various minting locations, mint marks, finishes, and types.
In the early years, they came in three categories:
- Bullion Coins: Meant for investment, these have no special finishes or mint marks and are sold by authorized dealers.
- Proof Coins: Designed for collectors and available from the Mint during the coin's mintage year.
- Uncirculated Coins: Initially not offered by the US Mint, but in 2006, a particular 'W Uncirculated' version was introduced, featuring a satin finish and the 'W' mint mark.
In 2006, a unique reverse proof coin was released alongside the standard Proof and 'W' Burnished Uncirculated coins in a special set. While the reverse proof was a one-time offering, the 'W' Burnished Uncirculated coins continue to be available yearly.
Between 1986 and 1988, Uncirculated Silver Eagle mintage took place in Philadelphia. From 1999 to 2000, they were produced in both Philadelphia and West Point. These coins don't have mint marks, so it's hard to know where they came from.
Since 2001, Uncirculated Proof American Silver Eagle coins have been exclusively made at West Point, still without mint marks.
In 1995, something interesting happened. The Mint released a special limited edition set. It included a 1995-W Silver Proof American Eagle, but you could only get it in a 5-coin proof anniversary set celebrating American Eagle coins.
This set had one-ounce, half-ounce, quarter-ounce, and tenth-ounce American Eagle Gold coins , and each set cost $999. That was quite pricey for Silver Eagle collectors.Many decided to wait, hoping the coins would be sold individually later.
Because of their limited number and high demand, the value of the 1995-W Silver Eagle coin quickly exceeded a thousand dollars, and now it can sell for over $5,000 for a single coin.
If you're puzzled by the years not adding up, you're not alone. The Mint used two different counting methods: the 1995 set marked the 10th year of American Eagle coin production, while the 2006 sets celebrated the 20th anniversary. Knowing about the product is essential before purchasing; Bullion Mentor gives you a quick rundown of the coin details, price comparisons, and more.
Design of American Silver Eagle
The American Eagle Silver coin's obverse features the iconic Walking Liberty half-dollar design. It was initially crafted by Adolph A. Weinman (1870-1952) and used from 1916 through 1947. The United States Mint aptly describes the obverse as follows:
Depicting Lady Liberty, a symbol of hope, striding boldly toward the sunrise, adorned with the strength of the Stars and Stripes. She cradles branches of laurel and oak, symbolizing both civil and military honor.
Upon a closer examination, you'll find Weinman's initials elegantly inscribed on the hem of Lady Liberty's gown. The obverse also bears inscriptions of the year of mintage, 'Liberty,' 'In God We Trust,' and the coin's value.
As for the reverse, the Silver American Eagle's imagery is synonymous with the 'American Eagle' coin family, which features an eagle. John M. Mercanti created this reverse design. He is a sculptor-engraver at the United States Mint. The design also showcases a heraldic eagle clutching a shield. Other detailing includes arrows in its right talon and an olive branch in its left.
The reverse side of the American Silver Eagle includes inscriptions of 'United States of America,' '1 Oz. Fine Silver,' 'E Pluribus Unum,' and 'One Dollar.'
Annual Mintages of American Silver Eagles
Year | Bullion | Proof | Uncirculated |
1986 | 5,393,005 | 1,446,778 | - |
1987 | 11,442,335 | 904,732 | - |
1988 | 5,004,646 | 557,370 | - |
1989 | 5,203,327 | 617,694 | - |
1990 | 5,849,110 | 695,510 | - |
1991 | 7,191,066 | 511,924 | - |
1992 | 5,540,068 | 498,543 | - |
1993 | 6,763,762 | 405,913 | - |
1994 | 4,227,319 | 372,168 | - |
1995 | 4,672,051 | 407,822 | - |
1995-W | - | 30,125 | - |
1996 | 3,603,386 | 498,293 | - |
1997 | 4,295,004 | 440,315 | - |
1998 | 4,487,549 | 450,728 | - |
1999 | 7,408,640 | 549,330 | - |
2000 | 9,239,132 | 600,743 | - |
2001 | 9,001,711 | 746,398 | - |
2002 | 10,539,026 | 647,342 | - |
2003 | 8,495,008 | 747,831 | - |
2004 | 8,882,754 | 801,602 | - |
2005 | 8,891,025 | 816,663 | - |
2006 | 10,676,522 | 1,092,477 | 466,573 |
2006-P Reverse Proof | - | 248,875 | - |
2007 | 9,028,036 | 821,759 | 621,333 |
2008 | 20,583,000 | 700,979 | 533,757 |
2009 | 30,459,000 | - | - |
2010 | 34,764,500 | 849,861 | - |
2011 | 40,020,000 | 947,355 | 409,766 |
2011-S | - | - | 99,882 |
2011-P Reverse Proof | - | 99,882 | - |
2012 | 33,742,500 | 877,731 | 226,120 |
2012-S | - | 281,792 | - |
2012-S Reverse Proof | - | 224,935 | - |
2013 | 42,675,000 | 934,331 | 221,981 |
2013-W Reverse Proof | - | - | 235,689 |
2013-W Enh | - | - | 235,689 |
2014 | 44,006,000 | - | - |
2022 | 15,963,500 | - | 199,072 |
2023 | 21,215,000 | - | 154,651 |
Silver Eagle Mintage Notes
Year | Proof Mintage | Additional Information |
1993 | 12,689 | Available in the Philadelphia Set |
1995-W | - | Exclusively part of the 10th Anniversary Gold Eagle Proof Set |
1997 | 4,965 | Offered in the Impressions of Liberty Set |
2006 | 248,875 | Proof coins in the 20th Anniversary Silver Eagle Set, Uncirculated mintage in the 20th Anniversary Set, and 19,145 coins in the Gold and Silver 20th Anniversary Set |
2006-P | - | Exclusively issued as a Reverse Proof coin in the 20th Anniversary Silver Eagle Set |
2007 | - | Uncirculated mintage includes coins available in the 2007 Annual Uncirculated Dollar Coin Set |
2008 | - | Uncirculated mintage includes coins in the 2008 Annual Uncirculated Dollar Coin Set. |
2011 | 99,882 | Combined Proof and Uncirculated versions are included in the 25th Anniversary Silver Eagle Set. |
2011-S | - | A Collectible Uncirculated version with an 'S' mint mark exclusively issued in the 25th Anniversary Silver Eagle Set |
2011-P | - | Solely issued as a Reverse Proof coin in the 25th Anniversary Silver Eagle Set |
2012 | - | Uncirculated mintage includes coins in the 2012 Annual Uncirculated Dollar Coin Set; Proof mintage encompasses coins from the 2012 Limited Edition Silver Proof Set. |
2012-S | - | Proof mintage comprises coins included in the 2012 San Francisco Silver Eagle Set and the 2012 Making American History Coin and Currency Set |
2012-S | - | Exclusively issued as a Reverse Proof coin in the 2012 San Francisco Silver Eagle Set. |
2013 | - | Proof mintage encompasses coins sold in the 2013 Limited Edition Silver Proof Set and the 2013 Congratulations Set; Uncirculated mintage includes coins available in the 2013 Annual Uncirculated Dollar Coin Set. |
2013-W | - | Solely issued as Reverse proof and enhanced uncirculated coins in the 2013 West Point Silver Eagle Set. |
2014 | - | Proof mintage includes coins sold in the 2014 Limited Edition Silver Proof Set and the 2014 Congratulations Set; Uncirculated mintage encompasses coins available in the 2014 Annual Uncirculated Dollar Coin Set. |
2015 | - | Proof mintage includes coins sold in the 2015 Congratulations Set; Uncirculated mintage encompasses coins available in the 2015 Annual Uncirculated Dollar Coin Set. |
2021-W | - | Bullion mintage includes 200,000 Last Struck coins. |
2021-W | - | Bullion mintage includes 200,000 First Struck coins. |
2021-W | - | It is a part of the American Eagle 2021 One Ounce Silver Reverse Proof Two-Coin Set Designer Edition. |
Where to Buy American Silver Eagle Coins?
Although many people often prefer to buy coins directly from the US Mint. However, buying from the mint is not always feasible for those who reside in other states or countries.
Our top suggestions include:
- Best Overall: APMEX
- Best Reputation: BOLD Precious Metals
- Best Customer Experience: JM Bullion
- Best for Gold Coins: BGASC
- Best for Buybacks: Money Metals Exchange
- Best Low Prices: SD Bullion
Conclusion
Bullion Mentor is your one-stop destination to get the right idea if you are interested in the bullion world. Be it for collection or investment, on our website; you will find the most valuable data for comparing prices, checking the best reputable dealers, and much more to help you throughout your numismatic journey. Stay tuned!
FAQ's
- How many Silver American Eagles are minted each year?
The yearly Silver Eagle mintage varies. For example, In 1996, 3.6 million Silver Eagle bullion coins were produced, whereas in 2015, a staggering 47 million Silver American Eagle bullion coins were minted. In 2023, 21215000 Eagles are produced.