Heroes of Silver: The Silver Eagle

[silversword]

For part 3 of the series, we look at one of the most iconic of silver coins, the American Silver Eagle. First minted in 1986 it has already achieved classic status, but unlike some modern bullion coins, the silver Eagle traces its heritage back far beyond it's current incarnation.

 

  

 

The obverse design is based on Adolph Weinman's 1916 "Walking Liberty" half dollar, widely considered to be one of the most beautiful American coins ever, whilst the reverse (designed 70 years later by John Mercanti) features a heraldic eagle carrying an olive branch (peace) and arrows (war) in homage to the US "Great Seal" or national coat of arms. The eagle carries a sash bearing the Latin motto "E pluribus unum" (one, out of many), believed to have first appeared on US coinage as early as 1786 (and prior to Congress even agreeing to mint silver dollars, which didn't appear until 1794). Unlike some other bullion series, the platinum and gold eagles use a completely different design; the silver version is unique.

 

Eagles feature a satin finish and reeded edge and are one of the thinner 1oz silver coins available at 2.98mm, with a correspondingly large diameter of 40.6mm. Unusually, they are minted in "medal" style rather than "coin" style: If you flip an Eagle on the horizontal axis, the other side will be displayed correctly, but turn it on the vertical axis and the other side will appear the wrong way up!

 

Although the overall design does not change from year to year, much like the Philharmonic, the Eagle is simply a classic which doesn't really need updating. Minor changes were made to the design in 2008 which led to the accidental creation of 2008 coins made with the 2007 reverse however. 

 

Special edition Eagles have been limited to proofs (crucially, no proofs were made in 2009 due to a shortage of blanks), or reverse proofs, with various frosted or polished finishes. Most of these have been issued as sets, and such coins carry either S (San Fransciso) or W (West Point) mint marks, located underneath the Eagle's left wing. Note that Bullion Eagles do not carry a mintmark.

 

As a bullion coin the Eagle remains affordable, despite a slightly higher premium than some of it's rivals; nonetheless, this didn't stop production topping 40 million coins in 2011, or indeed a shortage in 2013 when over 6 million coins had been sold in January alone! Of course with the US Mint being bound by law to produce as many coins as needed to meet demand, it's just a case of waiting for them to make more. For US Citizens the coin is allowed to be used in an IRA (retirement plan) so it's a great choice for stacking, but even for the rest of us, the Silver Eagle is a coin worth having for it's beauty alone.

[Danny-boy]

Again, fantastic write-up SS.

I'd like to thank you on behalf of the forum for taking your time to compile these posts, which are invaluable to new stackers and a very interesting read for all stackers / collectors.

Thank you for your efforts.

[CurryMuncher69]

I like the eagle, but its not a coin for any European stackers. Wonderful coin to stack if you live in the US. 

 

[HighlandTiger]

I like the eagle, but its not a coin for any European stackers

 

 What brings you to think that. I'm certainly going to stack this coin over the next decade or so. 

[Danny-boy]

What brings you to think that. I'm certainly going to stack this coin over the next decade or so.

Agreed, not much premium over maples and very small chance of milking.

[silversword]

They are one of my favourites, and for a bit of variety in the stack I'm happy to have some. Right now they can be picked up for less than Britannias.

[Danny-boy]

They are one of my favourites, and for a bit of variety in the stack I'm happy to have some. Right now they can be picked up for less than Britannias.

You just can't put eagles in the same sentence as britannias!!!!

Lol

[CurryMuncher69]

Here is why... 

The PRICE of the eagles, you can get the Noah Ark Coin, IN MY OPINION is a much better looking coin then the eagle and also cheaper. Not to mention that it is also nice and shiny . 

For 50 pence more you can get the Britannia, saying that you guys know where I stand with UK minted coins and its prices but I would rather pay a tad more then stack eagles. Personally the ONLY TWO COINS I DO NOT LIKE are the American Eagles, and the Britannia's (Only due to its high price tag, if it was well priced like the Noah, maple e.t.c then I would love it)  

For me I would rather stack at this moment, Crocodiles, Maples, Chinese Panda's. philharmonics, Great white shark, and all the Noah Ark coins 1 oz and under. Saying that I do not have any Noah Ark coins, maples, Philharmonics as of yet because I am trying to stack as many crocs as I can before they all sell out in the vendors. 

I might get 2-3 tubes later on down the road, but it will not be considered to me the main coin to stack. 



 

[Danny-boy]

I'm going to change your username to PennyPincher69. Lol.

[HighlandTiger]

 Great white shark, 

 I thought you liked a bit of value. That the great white shark is a 1/2 oz, and actually costs about £2.30 an oz MORE than the ASE's you dislike so much 

[CurryMuncher69]

I love Half oz coins, and have expressed my love for them many times on these forums, THE CHEAPEST half oz coin is the great white shark with a mintage of 500k or so, you cannot go wrong !!! 

Its the only half oz coin I stack at the moment, however that might change soon as STG might be getting a EVEN CHEAPER half oz coin in stock soon but that is for me to know  

[CurryMuncher69]

Another thing is when silver goes up, it is easier to sell half oz coin then it is for a 1 oz. 

[morezone]

I love Half oz coins, and have expressed my love for them many times on these forums, THE CHEAPEST half oz coin is the great white shark with a mintage of 500k or so, you cannot go wrong !!! 

Its the only half oz coin I stack at the moment, however that might change soon as STG might be getting a EVEN CHEAPER half oz coin in stock soon but that is for me to know

 

Lunar Horse €11.08, Koala €11.07, Noah's Ark €10.05  Kettner Metals

Lunar Horse €11.09, Koala €11.03,€10.00 Heubach Edelmetalle

 

Great White Shark €11.32, Koala €10.90, Lunar Horse €11.90 STG

 

You mean the GWS is the cheapest 1/2 oz that STG does because Lunar Horse, Koala and Noahs are cheaper from elsewhere.

You're not talking about the Battle of the Coral Sea 1/2oz are you?

 

A few calculations to show how much cheaper.

 

From Heubach, 64oz of Noahs (128 coins) currently costs €1292.56 delivered and using currency fair, that would be £1028.76.

From STG, the GWS is £1163.76 if paying in GBP or €1438.63 and using currency fair, that would be £1143.10.

I make that almost 90p cheaper per coin, or £1.80/oz.

I used 64 oz because that is the lowest postage band for Heubach.

 

Using the Lunar Horse at €11.09 then it would be €1431.52 and using currency fair £1139.04.  Still cheaper than GWS but only just

[garthy]

I personally really like this coin, the walking liberty looks stunning in the satin finish, looks like real treasure and just oozes class. One of my favourite bullion coins.

[CurryMuncher69]

morezone..... You have absolutely tore me a new one.

When I compare prices, I only do it via Silver to Go (I choose the GBP option and always pay via GBP) and Atkinsons ( it is probably the one of the most if not popular PM dealer in the UK) 

[morezone]

morezone..... You have absolutely tore me a new one.

When I compare prices, I only do it via Silver to Go (I choose the GBP option and always pay via GBP) and Atkinsons ( it is probably the one of the most if not popular PM dealer in the UK) 

 

Absolutely nothing wrong with that.  STG makes ordering fool proof with their GBP option and UK Bank account.  You do however pay that little premium for the privilege.

[jason1977]

If and when I decide I'm ready to integrate coins into stacking (I've only got bars for now) Eagles are the way I'm going to go. I think they're beautiful & would feel better about getting something home grown ;-) the rest of the world produces beautiful coins, many with a good degree of value potential, I find the Eagles very appealing simply based on aesthetics, beauty, and I like the idea of buying "murican" ;-) I'm just getting started and have much to learn But I wouldn't mind accumulating several rolls of eagles.

[ChrisSilver]

Another thing is when silver goes up, it is easier to sell half oz coin then it is for a 1 oz.

I don't think that silver will ever increase in price enough for silver collectors to start buying 1/2 ounce coins instead of 1 ounce because of the price.

I think 1oz will always be the most widely collected size of silver coins and is a better investment as the premiums on fractional silver are too high in my opinion.

[CurryMuncher69]

I like Half oz coins, I do not know why, I just do. 

[CurryMuncher69]

Maybe because I find the 1 oz coins to be too big, and being used to british coinage all my life I.E the 1 pound coin, 50 pence e.t.c I have a liking to small coins. 

[Danny-boy]

Maybe because I find the 1 oz coins to be too big, and being used to british coinage all my life I.E the 1 pound coin, 50 pence e.t.c I have a liking to small coins.

You need to get your hands on a 10oz lunar (not literally) now that's a coin!!!!

[CurryMuncher69]

I was actually tempted not too long ago to get the lunar horse 10 oz version, but I rather have bars, as they are more easier to sell to anyone who does not know anything about silver

[Danny-boy]

I was actually tempted not too long ago to get the lunar horse 10 oz version, but I rather have bars, as they are more easier to sell to anyone who does not know anything about silver

Agree they would be easier to sell, but less chance of appreciation. And that's what it's all about.

[silver_wox]

I like ASE a lot. Great design, little problems with marks and milk spots. Well known all over the world. And of course it´s a good choice for us in Europe as well.

[Danny-boy]

I too like the eagle, but with the design remaining stagnant, you only really need a couple.

That said, I do have 9 coins towards a date run, I must get round to completing that one.