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{{Infobox Coin
 | Denomination        = Silver Eagle
 | Country             = United States
 | Value               = 1.00
 | Unit                = U.S. dollar (face value)
 | Mass                = 31.103
 | Mass_troy_oz        = 1.00
 | Diameter            = 40.6
 | Diameter_inch       = 1.598
 | Thickness           = 2.98
 | Thickness_inch      = 0.1173
 | Edge                = Reeded
 | Composition         = 99.9% [[Silver|Ag]]<br />(balance [[Copper|Cu]])
 | Years of Minting    = 1986–present ([[bullion]])<br />1986–2008, 2010–present (proof)<br />2006–2008, 2011–present (uncirculated)
 | Catalog Number      =
 | Obverse             = Liberty $1 Obverse.png
 | Obverse Design      = Walking Liberty
 | Obverse Designer    = Adolph A. Weinman
 | Obverse Design Date = 1916
 | Reverse             = Liberty $1 Reverse.png
 | Reverse Design      = Heraldic eagle with shield and thirteen five-pointed stars
 | Reverse Designer    = John Mercanti
 | Reverse Design Date = 1986
}}

The '''American Silver Eagle''' is the official [[Silver coin|silver]] [[Bullion coins|bullion coin]] of the [[United States]].

It was first released by the [[United States Mint]] on November 24, 1986. It is struck only in the one-[[troy ounce]] size, which has a [[Fiat money|nominal]] [[face value]] of one [[United States dollar|dollar]] and is guaranteed to contain one troy ounce of 99.9% pure [[silver]]. It is authorized by [[s:Statue of Liberty-Ellis Island Commemorative Coin Act#TITLE II .E2.88.92 LIBERTY COINS|Title II of Public Law 99-61 (Liberty Coin Act, approved July 9, 1985)]] and [[Codification (law)|codified]] as {{usc|31|5112}}(e)-(h). Its content, weight, and purity are certified by the United States Mint. In addition to the bullion version, the United States Mint has produced a [[Proof coinage|proof]] version and an [[Uncirculated coin|uncirculated]] version for [[Coin collecting|coin collectors]]. The Silver Eagle has been produced at three mints: the [[Philadelphia Mint]], the [[San Francisco Mint]], and the [[West Point Mint]]. The American Silver Eagle bullion coin may be used to fund [[Individual Retirement Account]] investments.<ref>{{cite web |url=http://www.irs.gov/pub/irs-pdf/p590a.pdf |publisher=United States Department of the Treasury, Internal Revenue Service |title=Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs) |page=34 |format=PDF |date=January 13, 2015 |accessdate=May 20, 2015| archiveurl=https://web.archive.org/web/20150505162347/http://www.irs.gov/pub/irs-pdf/p590a.pdf| archivedate=May 5, 2015<!--DASHBot-->| deadurl= no}}</ref>

The Silver Eagle coins were sold out in the first week of July 2015. The Mint said its facility in West Point, New York, continued to produce coins and it resumed sales at the end of July 2015.  This was the second time the mint's silver coins had sold out in the past nine months.  The Mint ran out of 2014-dated American Eagles in November 2014.  In 2013, the historic drop in silver increased demand for silver coins, forcing the mint to ration silver coin sales for 18 months.<ref>http://www.cnbc.com/id/102815693</ref>

==Design==

The design on the coin's [[Obverse and reverse|obverse]] was taken from the "Walking Liberty" design by [[Adolph Alexander Weinman|Adolph A. Weinman]], which originally had been used on the [[Walking Liberty Half Dollar]] coin of the United States from 1906. As this iconic design had been a public favorite—and one of the most beloved designs of any United States coinage of modern times, silver or otherwise—it was revived for the Silver Eagle decades later. The obverse is inscribed with the year of minting or issuance, the word ''LIBERTY'', and the phrase [[In God We Trust|''IN GOD WE TRUST'']].

The [[Obverse and reverse|reverse]] was designed by [[John Mercanti]] and portrays a [[Eagle (heraldry)|heraldic eagle]] behind a shield; the eagle grasps an [[Olive branch#Modern usage|olive branch]] in its right talon and arrows in its left talon, echoing the [[Great Seal of the United States]]; above the eagle are thirteen [[five-pointed star]]s representing the [[Thirteen Colonies]].<ref name=Legacies>{{cite web |url=http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=480 |title=United States Mint Offers New 'Legacies of Freedom' Set |publisher=United States Mint |date=January 20, 2004 |accessdate=March 25, 2010}}</ref> The reverse is inscribed with the phrases ''UNITED STATES OF AMERICA'', ''1 OZ. FINE SILVER~ONE DOLLAR'', and [[E pluribus unum|''E PLURIBUS UNUM'']] (on the banner that the eagle holds in its beak), as well as the [[Mint mark|mintmark]] if applicable.

==Legislative history==

===Background: Defense National Stockpile silver sales===

The impetus of the American Silver Eagle bullion program ultimately comes from [[President of the United States|executive]] plans through the 1970s and early 1980s to sell off silver from the [[Defense National Stockpile Center|Defense National Stockpile]]. As the ''[[Wall Street Journal]]'' explained, "Several administrations had sought unsuccessfully to sell silver from the stockpile, arguing that domestic production of silver far exceeds strategic needs. But mining-state interests had opposed any sale, as had promilitary legislators who wanted assurances that the proceeds would be used to buy materials more urgently needed for the stockpile rather than merely to reduce the federal deficit."<ref name="ReferenceA">{{cite news |title=Government to Sell 75% of Its Silver Stockpile |newspaper=Wall Street Journal |date=July 24, 1981}}</ref><ref>{{cite news |title=Congress Asked to Clear Sales from Stockpile: Carter Administration Seeks Authority to Sell Silver, Tin, Other Commodities |newspaper=Wall Street Journal |date=March 6, 1978}}</ref> Throughout the period, such sell-offs that did occur, as well as announcements of planned sell-offs, caused immediate declines in the price of silver.<ref>{{cite news |title=Nixon Plan to Sell Stockpiled Commodities Could Be Slowed by Market, Legal Snags |newspaper=Wall Street Journal |date=March 16, 1973}}</ref> The ''Wall Street Journal'' reported in September 1976, "When the US government makes noises about selling silver from the federal stockpile, futures traders start unloading futures contracts in speculation that such a sale would depress prices."<ref>{{cite news |last=Jackewicz |first=Shirley A. |title=Possible Silver Stockpile Sale Seen as Bullish for Market in Long Run |newspaper=Wall Street Journal |date=September 10, 1976}}</ref>

Despite congressional opposition<ref>{{cite news |title=House Committee Rejects Sales of Silver from Government's Strategic Stockpile |newspaper=Wall Street Journal |date=September 12, 1979}}</ref><ref>{{cite news |title=House Refuses to Sell Any Silver in U.S. Stockpile: Compromise That Called for Sale of 5 Million Ounces Loses by Lopsided Margin |newspaper=Wall Street Journal |date=December 13, 1979}}</ref><ref>{{cite news |title=House Panel Rejects Reagan Bid to Sell All of Silver in Stockpile |newspaper=Wall Street Journal |date=June 5, 1981}}</ref> to the sale of stockpiled silver through early June 1981, the [[House Armed Services Committee]] decided on June 10 to approve a [[Presidency of Ronald Reagan|Reagan administration]] request to sell government-owned silver beginning in fiscal year 1982 to help balance the [[United States federal budget|federal budget]].<ref>{{cite news |title=Big U.S. Silver Sale Is Likely as Congress Reconciles Budget |newspaper=Wall Street Journal |date=June 15, 1981}}</ref> In July 1981, the House and Senate agreed to allow the sale of 75% of the stockpiled silver (105.1 million troy ounces) over a three-year period,<ref name="ReferenceA"/> and in September the price of silver fell 11% in response.<ref>{{cite news |last=Lowenstein |first=Roger |title=U.S. Plan to Sell Silver from Its Stockpile Depresses Metal's Price 11%; Gold Drops |newspaper=Wall Street Journal |date=September 18, 1981}}</ref> Just before the first sale in October 1981, a group of politicians from [[Idaho]]—a major silver-producing state—attempted to block the auction, claiming that the sale could have a "disastrous effect" on the [[Silver mining in the United States|United States silver mining industry]] in general and several Idaho silver mining companies in particular.<ref>{{cite news |title=Idaho Officials Protest GSA's Plans for Sale of Stockpiled Silver |newspaper=Wall Street Journal |date=October 14, 1981}}</ref> On December 3, 1981, [[United States Senate|Senator]] [[James A. McClure]] ([[Republican Party (United States)|R]]-Idaho) proposed an [[Amend (motion)|amendment]] (S.UP.AMDT.738) to the [[United States Department of Defense|Department of Defense]] [[appropriation bill]] ({{USBill|97|H.R.|4995}}) to end the government's sale of silver "until the President, not later than July 1, 1982, redetermines that the silver authorized for disposal is excess to the requirements of the stockpile." The appropriations bill was signed into law (Public Law 97-114) with the amendment intact, effectively stopping the further sale of stockpiled silver.<ref>{{cite journal |last=Twight |first=Charlotte |year=1989 |title=The Political Economy of the National Defense Stockpile |journal=Policy Studies Review |volume=8 |issue=4 |page=778}}</ref>

===Coin legislation===

On May 27, 1982, Senator McClure introduced bill {{USBill|97|S.|2598}}, "A bill to provide for the disposal of silver from the National Defense Stockpile through the issuance of silver coins," to "redirect the sale of silver from our national defense stockpile in an effort to minimize its affect {{sic}} on the already depressed price of silver."<ref>''National Security Silver Disposal Act of 1982'', S. 2598, 97th Cong., 2d sess., ''Congressional Record'' 128, pt. 9:12321.</ref> An identical companion bill, {{USBill|97|H.R.|6649}}, was introduced on June 22 by [[United States House of Representatives|Representative]] [[Larry Craig|Larry E. Craig]] (R-Idaho) but both bills were referred to committees and never were enacted. The ''Wall Street Journal'' reported on June 30 that the price of silver "soared after Interior Secretary James Watt announced that sales of the government's silver stockpile will be indefinitely postponed" as the government's legally required study on potential methods of selling the silver had been delayed.<ref>{{cite news |title=Silver Price Soars After U.S. Postpones Sales of Stockpile |newspaper=Wall Street Journal |date=June 30, 1982}}</ref>

On January 27, 1983, Senator McClure introduced another bill ({{USBill|98|S.|269}}) almost identical to S. 2598. As he had in the earlier bill, the senator asked,

{{quote|text=... if we are forced to accept a sale, why use the method guaranteed to depress the price and dispose of the silver with the lowest possible return to the taxpayers[?] Why not instead, if we must sell, at least get as much for it as we can? Therefore, today, I am introducing legislation which provides that in the event the President proposes and Congress authorizes the sale of silver from the strategic stockpile, this silver would be sold through the minting and distribution of a silver-bearing coin.<ref>''National Security Silver Disposal Act of 1983'', S. 269, 98th Cong., 1st sess., ''Congressional Record'' 129, pt. 1:1050.</ref>}}

The bill was referred to the [[United States Senate Committee on Banking, Housing, and Urban Affairs|Committee on Banking, Housing, and Urban Affairs]] which held hearings on April 15, 1983, however, it was not enacted.<ref>Senate Committee on Banking, Housing, and Urban Affairs, ''Gold and Silver Coinage Proposals: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-Eighth Congress, First Session, on S. 42 "To Provide for the Minting of American Gold Eagle Coins Pursuant to Article 1, Section 8 of the United States Constitution" and S. 269 "To Provide for the Disposal of Silver from the National Defense Stockpile through the Issuance of Silver Coins,"'' 98th Cong., 1st sess., April 15, 1983.</ref>

Some two years later, with sales still suspended, Senator McClure again introduced legislation aimed at requiring potential sales of stockpiled silver to be conducted through the issuance of coins minted from the silver. This time his legislation took the form of an amendment (S.AMDT.418)<ref>Amendment no. 418, 99th Cong., 1st sess., ''Congressional Record'' 131, pt. 12:16799-16800.</ref> to {{USBill|99|H.R.|47}}, the "Statue of Liberty-Ellis Island Commemorative Coin Act". McClure's amendment—the "Liberty Coin Act"—added a new section (Title II) to H.R. 47. The amendment may be summarized into the following points:

* Authorize the Secretary of the Treasury to mint and issue silver bullion coins
* Coin specifications including diameter, weight, [[Millesimal fineness|fineness]], general design, inscriptions, and edge finish
* Coin sales
* Numismatic and legal tender statuses
* Purchase of silver from stockpile
* Effective date of October 1, 1985, and stipulation that no coins may be issued or sold before September 1, 1986

{{Wikisource|Public Law 99-61}}

Proposed on June 21, 1985, the Senate agreed to McClure's amendment by [[voice vote]] on the same day and it was added to H.R. 47; the House approved the amended bill three days later and it was signed into law by [[Ronald Reagan|President Reagan]] on July 9, 1985. Thus, the authorizing law for the American Silver Eagle bullion program is [[s:Statue of Liberty-Ellis Island Commemorative Coin Act#TITLE II .E2.88.92 LIBERTY COINS|Title II of Public Law 99-61 ('''Liberty Coin Act''')]] codified as {{usc|31|5112}}(e)-(h).

===Program extension, 2002===

The authorizing legislation for the American Silver Eagle bullion program stipulated that the silver used to mint the coins be acquired from the Defense National Stockpile with the intent to deplete the stockpile's silver holdings slowly over several years. By 2002, it became apparent that the stockpile would be depleted and that further legislation would be required for the program to continue. On June 6, 2002, Senator [[Harry Reid]] ([[Democratic party (United States)|D]]-[[Nevada]]) introduced bill S. 2594, "Support of American Eagle Silver Bullion Program Act," "to authorize the Secretary of the Treasury to purchase silver on the open market when the silver stockpile is depleted." The bill was passed by the Senate on June 21 and by the House on June 27 and signed into law ({{USStatute|107|201|116|736}}) by [[George W. Bush|President Bush]] on July 23, 2002.<ref>{{USBill|107|s|2594}}</ref>

==Minting history==

The first American Silver Eagle coin was struck in [[San Francisco]] on October 29, 1986.<ref>{{cite news |title=U.S. to Offer $1 Silver Coin |newspaper=[[New York Times]] |date=October 30, 1986}}</ref> [[United States Secretary of the Treasury|Secretary of the Treasury]] [[James Baker|James A. Baker III]] presided over the striking ceremony held at the San Francisco Assay Office. According to a ''[[Chicago Sun-Times]]'' article, as Baker "reached for the electronic button on press No. 105, he turned to the audience and said, 'I don't need a pick and shovel to start the San Francisco Silver Rush of 1986.'"<ref>{{cite news |title=Sales Start Slowly for the New Silver Eagle Dollars |first=Ed |last=Rochette |newspaper=Chicago Sun-Times |date=December 28, 1986}}</ref>

===Bullion===

Bullion Silver Eagle coins do not have mintmarks. From 1986 to 1998, they were produced at the [[San Francisco Mint]].  From 1999 to 2000, they were produced at the [[Philadelphia Mint]] and [[West Point Mint]]. Since 2001, they have been minted at West Point, with supplementary production from San Francisco starting in 2011.{{Citation needed|date=April 2010}}

In March 2011, the San Francisco Mint conducted trial strikes of bullion Silver Eagle coins in preparation for the resumption of full production later in the spring. The added production capacity provided by the San Francisco Mint supplements the output of the West Point Mint.<ref>{{cite journal |first=Paul |last=Gilkes |title=San Francisco Mint to Strike Silver Bullion |work=Coin World |date=March 28, 2011}}</ref><ref>{{cite press release |url=http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1251 |title=United States Mint to Begin Taking Orders for American Eagle Silver Bullion Coins at its San Francisco Facility |publisher=United States Mint |date=May 26, 2011 |accessdate=May 27, 2011}}</ref>

===Proof===

From 1986 to 1992, proof Silver Eagle coins were minted at San Francisco and these coins bear the "S" mintmark. From 1993 to 2000, they were minted at Philadelphia and these coins bear the "P" mintmark. From 2001 to 2008, they were minted at West Point and these coins bear the "W" mintmark.<ref name="Yeoman"/> No proof versions were minted in 2009. Beginning again in 2010, the proof coins were minted at West Point and bear the "W" mintmark.

===Uncirculated===

From 2006 to 2008 and beginning again in 2011, the United States Mint issued a collectible uncirculated Silver Eagle coin produced at West Point (bearing the "W" mintmark). The coins are struck on specially [[Burnishing (metal)|burnished]] blanks and sometimes are referred to as "W Uncirculated" or "Burnished Uncirculated."<ref>{{cite web |url=http://www.coinnews.net/coins/the-american-eagle-silver-coin-history-design-prices-and-mint-figures/ |title=The American Eagle Silver Coin: History, Design, Prices and Mint Figures |publisher=Coin News Media Group |accessdate=January 30, 2010| archiveurl= https://web.archive.org/web/20100105140404/http://www.coinnews.net/coins/the-american-eagle-silver-coin-history-design-prices-and-mint-figures/| archivedate= 5 January 2010 <!--DASHBot-->| deadurl= no}}</ref> Aside from the standard-issue burnished Eagles, there has been one burnished Eagle issue produced at San Francisco bearing the "S" mintmark for release in the "American Eagle 25th Anniversary Silver Coin Set."

===Special issues===

====1990s====
*In 1993, the "Philadelphia Set" was issued to commemorate the bicentennial of the striking of the first official United States coins at the [[Philadelphia Mint]] in 1793. The set included proof [[American Gold Eagle]] coins in 1/2 ozt, 1/4 ozt, and 1/10 ozt sizes, a proof Silver Eagle coin, and a 90% silver proof "U.S. Mint Bicentennial" medal, all with "P" mintmarks.<ref>{{cite book |title=1993 Annual Report |publisher=United States Mint |location=Washington, D.C. |page=26}}</ref>
*In 1995, in addition to the regular proof coin minted at Philadelphia, the United States Mint also issued a proof coin minted at West Point. Known as the "1995-W Proof Silver Eagle," the coin was sold only as part of the "10th Anniversary American Eagle Five Coin Set" which also included the four 1995-W proof American Gold Eagle coins in 1 ozt, 1/2 ozt, 1/4 ozt, and 1/10 ozt sizes; 30,125 sets were sold.<ref>{{cite web |url=http://silvereagleguide.com/1995-w-proof-american-silver-eagle/ |title=1995-W Proof Silver Eagle |publisher=Silver Eagle Guide |accessdate=January 10, 2010| archiveurl= https://web.archive.org/web/20091228173439/http://silvereagleguide.com/1995-w-proof-american-silver-eagle/| archivedate= 28 December 2009 <!--DASHBot-->| deadurl= no}}</ref>

====2000s====
*In 2000, the Mint issued the "United States Millennium Coinage and Currency Set" which included a 2000 Silver Eagle bullion coin minted at West Point (but without a "W" mintmark), a 2000 [[Denver Mint|Denver-minted]] [[Sacagawea dollar|Sacagawea Dollar]] with a burnished finish, and an uncirculated 1999 series [[United States one-dollar bill|one-dollar bill]] with a [[serial number]] beginning with the numbers "2000". The sets sold out at the issue limit of 75,000 units. In fewer than twenty known sets, the Sacagawea Dollars do not have a burnished finish.<ref>{{cite web |url=http://silvereagleguide.com/2000-silver-eagle/ |title=2000 Silver Eagle |publisher=Silver Eagle Guide |accessdate=March 21, 2010| archiveurl= https://web.archive.org/web/20100205091058/http://silvereagleguide.com/2000-silver-eagle/| archivedate= 5 February 2010 <!--DASHBot-->| deadurl= no}}</ref><ref>{{cite web |url=http://www.smalldollars.com/dollar/add001.html |title=The 2000-D Sacagawea Dollar From The United States Millennium Coinage & Currency Sets |publisher=SmallDollars.com |accessdate=March 21, 2010}}</ref>

[[File:Legacies of Freedom United States and United Kingdom Silver Bullion Coin Set cover.gif|175px|thumb|left|Cover of the "Legacies of Freedom United States and United Kingdom Silver Bullion Coin Set".]]
*In January 2004, the Mint issued the "Legacies of Freedom United States and United Kingdom Silver Bullion Coin Set" which consisted of a 2003 bullion Silver Eagle and a 2002 Silver [[Britannia (coin)|Britannia bullion coin]] from the [[United Kingdom]]. The set had an issue limit of 50,000.<ref name=Legacies />
*To celebrate the 20th anniversary of the American Silver Eagle program in 2006, the Mint issued a special "Reverse Proof Silver Eagle" coin minted at Philadelphia. This coin was available as part of a 3-coin set which also included the regular proof coin and the new "Burnished Uncirculated" coin. The reverse proof coin features a frosted background and mirrored raised surfaces (the opposite of a typical proof coin of the series). Uncirculated Silver Eagle coins also were available as part of the "20th Anniversary Gold & Silver Eagle Set" which had an issue limit of 20,000 (19,145 were sold) and included the one-ounce, 2006-W uncirculated American Gold Eagle.<ref>{{cite web |url=http://silvereagleguide.com/20th-anniversary-silver-eagle-set/ |title=20th Anniversary Silver Eagle Set |publisher=Silver Eagle Guide |accessdate=January 10, 2010}}</ref>

[[File:2007 United States Mint Annual Uncirculated Dollar Coin Set.jpg|thumb|right|The 2007 "United States Mint Annual Uncirculated Dollar Coin Set" with a Silver Eagle coin surrounded by Presidential and Sacagawea dollars.]]
*In 2007 and 2008, uncirculated Silver Eagle coins were packaged with each year's issues of Philadelphia-minted [[Presidential $1 Coin Program|Presidential Dollars]] and Denver-minted Sacagawea Dollars in an "Annual Uncirculated Dollar Coin Set." The 2007 set became available directly from the Mint on December 3, 2007;<ref>{{cite web |url=http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=14322&langId=-1&parent_category_rn=16238 |title=U.S. Mint Online Product Catalog: 2007 United States Mint Annual Uncirculated Dollar Coin Set (XA1) |publisher=United States Mint |accessdate=March 14, 2010}}</ref> the 2008 set was available from August 7, 2008<ref>{{cite web |url=http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=14562&langId=-1&parent_category_rn=10111 |title=U.S. Mint Online Product Catalog: 2008 United States Mint Annual Uncirculated Dollar Coin Set (XA2) |publisher=United States Mint |accessdate=March 14, 2010| archiveurl= https://web.archive.org/web/20100204044410/http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=14562&langId=-1&parent_category_rn=10111| archivedate= 4 February 2010 <!--DASHBot-->| deadurl= no}}</ref> to January 28, 2010.<ref>{{cite web |url=http://mintnewsblog.blogspot.com/2010/01/2008-united-states-mint-annual.html |title=2008 United States Mint Annual Uncirculated Dollar Set Sold Out |last=Zielinksi |first=Michael |publisher=Mint News Blog |date=January 29, 2010 |accessdate=March 14, 2010| archiveurl= https://web.archive.org/web/20100202121322/http://mintnewsblog.blogspot.com/2010/01/2008-united-states-mint-annual.html| archivedate= 2 February 2010 <!--DASHBot-->| deadurl= no}}</ref>

====2010s====
*In 2011, the Mint issued an "American Eagle 25th Anniversary Silver Coin Set" to celebrate the program's 25th anniversary. The set includes five coins in a lacquered presentation case: one proof coin minted at West Point, one uncirculated coin minted at West Point, one uncirculated coin minted at San Francisco, one reverse proof coin (frosted background with polished, mirror-like design elements/foreground) minted at Philadelphia, and one bullion coin.<ref>{{cite press release |url=http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1276 |title=United States Mint Announces Plans to Issue American Eagle 25th Anniversary Silver Coin Set |publisher=United States Mint |date=August 19, 2011 |accessdate=October 13, 2011}}</ref>
*In June 2012, the Mint issued the "San Francisco American Silver Eagle Two Coin Proof Set" to commemorate the [[San Francisco Mint]]'s 75th anniversary. The set includes a 2012 proof Silver Eagle coin and a 2012-S reverse proof Silver Eagle coin, both minted in San Francisco.<ref>{{cite web |url=http://mintnewsblog.com/2012/04/2012-san-francisco-silver-eagle-two-coin-set/ |first=Michael |last=Zielkinski |title=2012 San Francisco Silver Eagle Two Coin Set |publisher=Mint News Blog |date=April 27, 2012 |accessdate=April 30, 2012}}</ref>
*In August 2012, the Mint issued the "Making American History Coin and Currency Set" which includes a 2012 proof Silver Eagle coin (minted in San Francisco) and a Series 2009 [[United States five-dollar bill|five-dollar bill]] with serial numbers beginning with "150". The set celebrates the Mint's 220th anniversary and the [[Bureau of Engraving and Printing]]'s 150th anniversary.<ref>{{cite web |url=http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16762 |title=Making American History Coin and Currency Set (TA8) |work=U.S. Mint Online Product Catalog |accessdate=August 6, 2012 |archiveurl=http://www.webcitation.org/69j7DFl1I |archivedate=August 6, 2012}}</ref>
*In November 2012, the Mint offered for sale the "2012 United States Mint Limited Edition Silver Proof Set" which includes a 2012 proof Silver Eagle coin (minted at West Point), five proof 90% silver quarters from the [[America the Beautiful Quarters]] program (minted in San Francisco), one 90% silver [[Kennedy half dollar]] (minted in San Francisco), and one 90% silver [[Roosevelt dime]] (minted in San Francisco).<ref>{{cite web |url=http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16808&langId=-1&parent_category_rn=10111 |title=2012 United States Mint Limited Edition Silver Proof Set (LS1) |work=U.S. Mint Online Product Catalog |accessdate=November 24, 2012 |archiveurl=http://www.webcitation.org/6CQOWVsRg |archivedate=November 24, 2012}}</ref>
*In May 2013, the Mint offered for sale the "2013 American Eagle West Point Two-Coin Set" which includes two 2013 Silver Eagle coins minted at West Point: a reverse proof coin and an uncirculated coin enhanced with three finishes (heavy frost, light frost, and brilliant polish).<ref>{{cite web |first=Steve |last=Roach |title=Enhanced Uncirculated American Eagle Complicates Series |work=Coin World |url=http://www.coinworld.com/Articles/ViewArticle/enhanced-uncirculated-american-eagle-complica |date=April 3, 2013 |accessdate=April 8, 2013 |archiveurl=http://www.webcitation.org/6Fjqczk9M |archivedate=April 8, 2013}}</ref><ref>{{cite web |url=http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=17136&langId=-1&parent_category_rn=10111 |title=2013 American Eagle West Point Two-Coin Silver Set (S40) |work=U.S. Mint Online Product Catalog |accessdate=April 14, 2013 |archiveurl=http://www.webcitation.org/6FsuTcGfe |archivedate=April 14, 2013}}</ref>

===Varieties===

The first significant [[Glossary of numismatics#V|variety]] of the Silver Eagle series appeared in 2008 and is known as the "2008-W Silver Eagle Reverse of 2007 Variety." The United States Mint made slight alterations to the reverse design between 2007 and 2008 and some 2008 uncirculated coins inadvertently were struck with the 2007 reverse type [[Coin die|die]] resulting in a [[Mint-made errors#Hub and die errors|die error]]. The variety is distinguishable by differences in the "U" in ''UNITED STATES'' and the dash between ''SILVER'' and ''ONE''.<ref>{{cite web |url=http://silvereagleguide.com/2008-w-silver-eagle-reverse-of-2007/ |title=2008-W Silver Eagle Reverse of 2007 Variety |publisher=Silver Eagle Guide |accessdate=January 10, 2010| archiveurl= https://web.archive.org/web/20091228190057/http://silvereagleguide.com/2008-w-silver-eagle-reverse-of-2007/| archivedate= 28 December 2009 <!--DASHBot-->| deadurl= no}}</ref>

===Effect of recession on availability, 2008–2010===

As a result of the [[Late-2000s recession|global recession]], the demand from investors for bullion coins as a [[Hedge (finance)|hedge]] against [[inflation]] and economic downturn surged.<ref name=Dugan>{{cite news |last=Dugan |first=Ianthe Jeanne |title=Losing a Mint: Curb on Coin Sales Angers Collectors |newspaper=Wall Street Journal |date=May 23, 2008 |url=http://online.wsj.com/article/SB121149011951015323.html |accessdate=January 12, 2010| archiveurl= https://web.archive.org/web/20100112105924/http://online.wsj.com/article/SB121149011951015323.html| archivedate= 12 January 2010 <!--DASHBot-->| deadurl= no}}</ref> This increased demand began to affect the availability of American Silver Eagle bullion coins in February 2008 when sales to authorized dealers were suspended temporarily. In March 2008, sales increased ninefold from the month before (from 200,000 to 1,855,000).<ref name=Dugan/><ref>{{cite web |url=http://www.usmint.gov/mint_programs/american_eagles/index.cfm?flash=yes&action=sales&year=2008 |title=2008 American Eagle Bullion Sales Totals |publisher=United States Mint |accessdate=January 12, 2010}}</ref> In April 2008, the United States Mint began an allocation program, effectively [[rationing]] Silver Eagle bullion coins to authorized dealers on a weekly basis due to "unprecedented demand."<ref name=Dugan/> At least one observer<ref>{{cite web |url=http://news.silverseek.com/SilverSeek/1212595279.php |last=Weir |first=Bix |title=US Silver Eagles Illegally Rationed |publisher=Silver Seek |date=June 4, 2008 |accessdate=January 12, 2010}}</ref> has questioned the legality of the allocation program, as the [[Treasurer of the United States]] is required by law ({{uscsub|31|5112|e}}) to mint and issue these coins "in quantities sufficient to meet public demand." On June 6, 2008, the Mint announced that all incoming silver [[planchet]]s were being used to produce only bullion issues of the Silver Eagle and not proof or uncirculated collectible issues.<ref>{{cite web |url=http://mintnewsblog.blogspot.com/2008/08/2008-proof-silver-eagles-sold-out.html |last=Zielinski |first=Michael |title=2008 Proof Silver Eagles Not Available |publisher=Mint News Blog |date=August 29, 2008 |accessdate=January 12, 2010}}</ref> The 2008 Proof Silver Eagle became unavailable for purchase from the United States Mint in August 2008 and the 2008 Uncirculated Silver Eagle sold out in January 2009 (however, it was available as part of the "2008 Annual Uncirculated Dollar Coin Set" until it sold out on January 28, 2010).<ref>{{cite web |url=http://mintnewsblog.blogspot.com/2010/01/2008-united-states-mint-annual.html |last=Zielinski |first=Michael |title=2008 United States Mint Annual Uncirculated Dollar Set Sold Out |publisher=Mint News Blog |date=January 29, 2010 |accessdate=January 29, 2010| archiveurl= https://web.archive.org/web/20100202121322/http://mintnewsblog.blogspot.com/2010/01/2008-united-states-mint-annual.html| archivedate= 2 February 2010 <!--DASHBot-->| deadurl= no}}</ref>

On March 5, 2009, the United States Mint announced that the proof and uncirculated versions of the Silver Eagle coin for that year were temporarily suspended due to continuing high demand for the bullion version.<ref>{{cite web |url=http://mintnewsblog.blogspot.com/2009/03/2009-proof-silver-eagles.html |last=Zielinski |first=Michael |title=2009-W Proof & Uncirculated Silver Eagle Availability |publisher=Mint News Blog |date=March 6, 2009 |accessdate=January 12, 2010}}</ref> The allocation program that had been put in place in March 2008 was lifted on June 15, 2009, leading to speculation that proof and uncirculated versions might be produced before the end of the year.<ref>{{cite web |url=http://mintnewsblog.blogspot.com/2009/06/gold-and-silver-eagle-bullion.html |last=Zielinski |first=Michael |title=Gold and Silver Eagle Bullion Allocation Programs End |publisher=Mint News Blog |date=June 16, 2009 |accessdate=January 12, 2010}}</ref> However, on October 6, 2009, the Mint announced that the collectible versions of the Silver Eagle coin would not be produced for 2009.<ref>{{cite web |url=http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1070 |title=United States Mint to Offer 2009 American Buffalo Proof Gold and American Eagle Platinum Proof Coins: Agency Also Announces Products not Offered in 2009 |publisher=United States Mint |date=October 6, 2009 |accessdate=January 12, 2010| archiveurl= https://web.archive.org/web/20100106140834/http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1070| archivedate= 6 January 2010 <!--DASHBot-->| deadurl= no}}</ref> The disappointment of collectors was expressed in a December 1 article by [[United States House of Representatives|Representative]] [[Gary Peters (Michigan politician)|Gary C. Peters]] (D-[[Michigan]]).<ref>{{cite web |url=http://www.numismaticnews.net//article/?p_ArticleId=11232 |last=Peters |first=Gary |title=Legislator Urges Mint to Coin Proof Eagles |publisher=Numismatic News |date=December 1, 2009 |accessdate=January 12, 2010}}</ref> Peters offered alternative scenarios to the cancellation of 2009 proof and uncirculated Silver Eagles and explained that he would be sending a letter to Mint Director [[Edmund C. Moy]] urging him to begin minting these products as soon as possible and continuing to do so until the end of the year. This effort was not successful and the collectible versions were not produced. The sale of 2009 Silver Eagle bullion coins was suspended from November 24 to December 6 and the allocation program was re-instituted on December 7; the product sold out on January 12, 2010.<ref>{{cite web |url=http://www.coinnews.net/2010/01/12/us-mint-2009-silver-eagles-sell-out/ |last=Unser |first=Mike |title=US Mint 2009 Silver Eagles Sell Out |publisher=Coin News |date=January 12, 2010 |accessdate=January 13, 2010| archiveurl= https://web.archive.org/web/20100116114326/http://www.coinnews.net/2010/01/12/us-mint-2009-silver-eagles-sell-out/| archivedate= 16 January 2010 <!--DASHBot-->| deadurl= no}}</ref>

Production of the 2010 Silver Eagle bullion coins began in January of that year (as opposed to beginning typically in December preceding the year of issue) and the coins were distributed to authorized dealers under an allocation program until September 3.<ref>{{cite web |url=http://mintnewsblog.blogspot.com/2010/01/2010-gold-and-silver-eagle-bullion.html |last=Zielinski |first=Michael |title=2010 Gold and Silver Eagle Bullion |publisher=Mint News Blog |date=January 8, 2010 |accessdate=January 12, 2010| archiveurl= https://web.archive.org/web/20100112065250/http://mintnewsblog.blogspot.com/2010/01/2010-gold-and-silver-eagle-bullion.html| archivedate= 12 January 2010 <!--DASHBot-->| deadurl= no}}</ref><ref>{{cite web |url=http://numismaticnews.net/article/Rationing_ends_for_silver_Eagles/ |title=Rationing Ends for Silver Eagles |publisher=Numismatic News |date=September 10, 2010 |accessdate=September 11, 2010}}</ref>

On July 20, 2010, Mint Director Edmund C. Moy provided testimony to the [[United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology|House Subcommittee on Domestic Monetary Policy and Technology]] on the matter of proof and uncirculated Silver Eagle coins, referencing the possibility of a legislative solution. Moy explained:
{{Quotation|... [B]ecause we could not produce these popular coin products, those who had become accustomed to purchasing them on an annual basis were very disappointed. As Director of the United States Mint, I appreciate the disappointment of these collectors, but I am encouraged to know that the Subcommittee is exploring the possibility of an amendment to the law that would afford the Secretary the authority to approve the minting and issuance of American Eagle Silver Proof and Uncirculated Coins even when we are unable to meet the public's demand for the bullion versions of these coins. American Eagle coin collectors and our many other customers who purchase these products as gifts would likely welcome such a change. Indeed, such a change would be one of the most positive customer satisfaction measures that could be taken to benefit your coin collecting constituents without having an effect on American's {{sic}} ability to acquire investment-grade silver bullion. We have already provided you technical drafting assistance that your staff have requested to accomplish this change; however, such a change needs to be enacted soon. We can mint 200,000 per month, and if we can begin by September, we will be able to produce about 830,000 one-ounce silver American Eagle coins to meet collector demand for this product in the remaining months of 2010.|Edmund C. Moy|Testimony of Edmund C. Moy, Director United States Mint, Before the Subcommittee on Domestic Monetary Policy and Technology, United States House of Representatives, July 20, 2010<ref>{{cite book |author=United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology |title=The State of U.S. Coins and Currency: Hearing before the Subcommittee on Domestic Monetary Policy and Technology of the Committee on Financial Services, U.S. House of Representatives, One Hundred Eleventh Congress, Second Session, July 20, 2010 |url=http://financialservices.house.gov/Media/file/hearings/111/Printed%20Hearings/111-145.pdf |format=PDF |accessdate=November 30, 2010 |series=Serial No. 111–145 |year=2010 |publisher=U.S. Government Printing Office |location=Washington |pages=90–91| archiveurl= https://web.archive.org/web/20101202141546/http://financialservices.house.gov/Media/file/hearings/111/Printed%20Hearings/111-145.pdf| archivedate= 2 December 2010 <!--DASHBot-->| deadurl= no}}</ref>}}

On September 22, 2010, Representative [[Melvin L. Watt]] (D-[[North Carolina]]) introduced the "[[Coin Modernization, Oversight, and Continuity Act of 2010]]" ({{USBill|111|H.R.|6162}}) to amend {{usc|31|5112}} (e) and (i) by giving the Secretary of the Treasury authority to mint American Eagle silver and gold coins in "qualities [e.g. bullion, proof, or uncirculated] and quantities" sufficient to meet public demand. The bill was signed into law ({{USStatute|111|302}}) by President [[Barack Obama]] on December 14, 2010.

On October 4, 2010, the Mint announced that 2010-dated proof American Silver Eagle coins would be available for purchase beginning on November 19, 2010, at a price of $45.95 per coin<ref>{{cite web|url=http://catalog.usmint.gov/webapp/wcs/stores/servlet/CategoryDisplay?catalogId=10001&storeId=10001&categoryId=10120&langId=-1&parent_category_rn=10191&top_category=10191|title=U.S. Mint Price of Silver Proof Coin|publisher=United States Mint|date=November 19, 2010}}</ref> and that 2010-dated uncirculated Silver Eagle coins would not be produced.<ref>{{cite web |url=http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1167 |title=United States Mint to Offer American Eagle Proof Coins: One-Ounce Silver Proof Coins to Go on Sale November 19th |publisher=United States Mint |date=October 4, 2010 |accessdate=October 4, 2010| archiveurl= https://web.archive.org/web/20101006020515/http://www.usmint.gov/pressroom/index.cfm?action=press_release&id=1167| archivedate= 6 October 2010 <!--DASHBot-->| deadurl= no}}</ref>

===2013 allocation program===
In January 2013, the Mint suspended sales of American Silver Eagle bullion coins after the first week due to high demand. The Mint resumed the allocation program that had been implemened from 2008 to 2010.<ref>{{cite news |url=http://abcnews.go.com/Business/us-mint-sells-2013-silver-coin/story?id=18251966 |title=US Mint Runs Out of 2013 Silver Coin |publisher=ABC News |date=January 19, 2013 |accessdate=January 19, 2013}}</ref><ref>{{cite web |url=http://mintnewsblog.com/2013/01/the-return-of-silver-eagle-rationing/ |last=Zielinski |first=Michael |title=The Return of Silver Eagle Rationing |publisher=Mint News Blog |date=January 18, 2013 |accessdate=January 19, 2013}}</ref>

===Mintages===

{|class="wikitable collapsible sortable"
!Year
!Bullion
!Proof
!Uncirculated
!Total
|-
|1986
|align="right" |5,393,005
|align="right" |1,446,778
|align="center" |-
|align="right" |6,839,783
|-
|1987
|align="right" |11,442,335
|align="right" |904,732
|align="center" |-
|align="right" |12,347,067
|-
|1988
|align="right" |5,004,646
|align="right" |557,370
|align="center" |-
|align="right" |5,562,016
|-
|1989
|align="right" |5,203,327
|align="right" |617,694
|align="center" |-
|align="right" |5,821,021
|-
|1990
|align="right" |5,840,110
|align="right" |695,510
|align="center" |-
|align="right" |6,535,620
|-
|1991
|align="right" |7,191,066
|align="right" |511,925
|align="center" |-
|align="right" |7,702,991
|-
|1992
|align="right" |5,540,068
|align="right" |498,654
|align="center" |-
|align="right" |6,038,722
|-
|1993
|align="right" |6,763,762
|align="right" |405,913
|align="center" |-
|align="right" |7,169,675
|-
|1994
|align="right" |4,227,319
|align="right" |372,168
|align="center" |-
|align="right" |4,599,487
|-
|1995
|align="right" |4,672,051
|align="right" |438,511
|align="center" |-
|align="right" |5,110,562
|-
|1995-W
|align="center" |-
|align="right" |30,125
|align="center" |-
|align="right" |30,125
|-
|1996
|align="right" |3,603,386
|align="right" |500,000
|align="center" |-
|align="right" |4,103,386
|-
|1997
|align="right" |4,295,004
|align="right" |435,368
|align="center" |-
|align="right" |4,730,372
|-
|1998
|align="right" |4,847,549
|align="right" |450,000
|align="center" |-
|align="right" |5,297,549
|-
|1999
|align="right" |7,408,640
|align="right" |549,796
|align="center" |-
|align="right" |7,958,436
|-
|2000
|align="right" |9,239,132
|align="right" |600,000
|align="center" |-
|align="right" |9,839,132
|-
|2001
|align="right" |9,001,711
|align="right" |746,398
|align="center" |-
|align="right" |9,748,109
|-
|2002
|align="right" |10,539,026
|align="right" |647,342
|align="center" |-
|align="right" |11,186,368
|-
|2003
|align="right" |8,495,008
|align="right" |747,831
|align="center" |-
|align="right" |9,242,839
|-
|2004
|align="right" |8,882,754
|align="right" |801,602
|align="center" |-
|align="right" |9,684,356
|-
|2005
|align="right" |8,891,025
|align="right" |816,663
|align="center" |-
|align="right" |9,707,688
|-
|2006
|align="right" |10,676,522
|align="right" |1,092,477
|align="right" |466,573
|align="right" |12,235,572
|-
|2006-P Rev. Pr.
|align="center" |-
|align="right" |248,875
|align="center" |-
|align="right" |248,875
|-
|2007
|align="right" |9,028,036
|align="right" |821,759
|align="right" |621,333
|align="right" |10,471,128
|-
|2008
|align="right" |20,583,000
|align="right" |700,979
|align="right" |533,757
|align="right" |21,817,736
|-
|2009
|align="right" |30,459,000
|align="center" |Not offered
|align="center" |Not offered
|align="right" |30,459,000
|-
|2010
|align="right" |34,764,500
|align="right" |849,861
|align="center" |Not offered
|align="right" |35,614,361
|-
|2011 incl.(S)&(W)
|align="right" |40,020,000
|align="right" |
|align="right" |
|align="right" |40,020,000
|-
|2011-S
|align="center" |
|align="center" |
|align="right" |99,882
|align="right" |99,882
|-
|2011-P Rev. Pr.
|align="center" |
|align="right" |99,882
|align="center" |
|align="right" |99,882
|-
|2011-W Burnished
|align="center" |
|align="right" |
|align="center" |409,809
|align="right" |409,809
|-
|2011-W  Pr.
|align="center" |
|align="right" |947,355
|align="center" |
|align="right" |947,355
|-
|2012 incl.(S)&(W)
|align="right" |33,742,500
|align="right" |877,731
|align="right" |226,120
|align="right" |34,846,351
|-
|2012-S
|align="center" |-
|align="right" |281,792
|align="center" |-
|align="right" |281,792
|-
|2012-S Rev. Pr.
|align="center" |-
|align="right" |224,935
|align="center" |-
|align="right" |224,935
|-
|2013
|align="center" |33,724,000
|align="right" |868,521
|align="right" |165,000
|align="right" |34,757,521
|-
|2014
|align="center" |n/a
|align="right" |n/a
|align="right" |n/a
|align="right" |44,006,000
|-
|2015
|align="center" |n/a
|align="right" |n/a
|align="right" |n/a
|align="right" |47,000,000
|-
|2016
|align="center" |
|align="right" |
|align="right" |
|align="right" |
|-class="sortbottom"
|'''Total'''
|align="right" |349,478,482
|align="right" |19,788,547
|align="right" |2,522,474
|align="right" |'''462,795,503'''
|}
Sources:
*Bullion, 1986–2011: {{cite web |url=http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=MintageTotals |title=Final Figures for American Eagle Bullion (in pieces) |publisher=United States Mint |accessdate=April 23, 2011| archiveurl= https://web.archive.org/web/20110605234528/http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=MintageTotals| archivedate= 5 June 2011 <!--DASHBot-->| deadurl= no}}
*Bullion, 2012: {{cite web |url=http://silvereagleguide.com/mintages/ |title=Silver Eagle Mintage |publisher=Silver Eagle Guide |accessdate=July 2, 2013}}
*Proof and uncirculated, 1986–2012: {{cite web |url=http://silvereagleguide.com/mintages/ |title=Silver Eagle Mintage |publisher=Silver Eagle Guide |accessdate=February 24, 2014}}
*Bullion, 2013: {{cite web |url=https://bullion.nwtmint.com/silver_eagle_mintage_1oz.php |title=Silver Eagle Mintage Figures (1986 - 2013)
 |publisher=Northwest Territorial Mint |accessdate=December 14, 2014}}
*Proof and uncirculated, 2013: {{cite web |url=https://bullion.nwtmint.com/silver_eagle_mintage_1oz.php |title=Silver American Eagle sells out |publisher=Numismatic News |accessdate=December 14, 2014}}

==Distribution==

===Bullion===
Sales of American Silver Eagle bullion coins began on November 24, 1986, and initial inventories sold out "immediately due to the phenomenal demand."<ref>{{cite book |title=1987 Annual Report |publisher=United States Mint |location=Washington, D.C. |page=5}}</ref>

Silver Eagle bullion coins, along with [[American Gold Eagle]] bullion coins, were planned as "viable investment alternatives to the gold and silver bullion coins produced by other countries. ..." To ensure wide distribution of the coins, the United States Mint awarded a [[Government procurement in the United States|contract]] to [[Grey Advertising]] to assist in [[marketing]] and publicizing the coins domestically and internationally.<ref>{{cite book |title=1986 Annual Report |publisher=United States Mint |location=Washington, D.C. |pages=9–10}}</ref> Advertising efforts were expanded in fiscal years 1987 and 1988.<ref>{{cite book |title=1987 Annual Report |publisher=United States Mint |location=Washington, D.C. |page=10}}</ref><ref>{{cite book |title=1988 Annual Report |publisher=United States Mint |location=Washington, D.C. |page=4}}</ref>

Like the American Gold Eagle and [[American Platinum Eagle]] bullion coins, Silver Eagle bullion coins are not sold directly to the public by the United States Mint. In order to provide "effective and efficient distribution, which maximizes the availability of the coins in retail markets as well as major investment markets" the Mint utilizes a network of "authorized purchasers" to distribute the coins.<ref>{{cite web |url=http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=american_eagle_bullion |title=American Eagle Bullion Coins for Investors |publisher=United States Mint |accessdate=March 19, 2010| archiveurl= https://web.archive.org/web/20100413190550/http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=american_eagle_bullion| archivedate= 13 April 2010 <!--DASHBot-->| deadurl= no}}</ref> The coins are sold in [[Bulk purchasing|bulk]] at a premium ($2.00 per coin effective October 1, 2010)<ref>{{cite web |url=http://news.coinupdate.com/us-mint-raises-premiums-for-american-silver-eagle-0479/ |first=Michael |last=Zielinksi |title=US Mint Raises Premiums for American Silver Eagles |publisher=Coin Update News |date=October 1, 2010 |accessdate=October 3, 2010| archiveurl= https://web.archive.org/web/20101003065447/http://news.coinupdate.com/us-mint-raises-premiums-for-american-silver-eagle-0479/| archivedate= 3 October 2010 <!--DASHBot-->| deadurl= no}}</ref> over the [[spot price]] of silver. The coins are sold to banks, [[Broker|brokerage companies]], coin dealers, precious metal firms, and [[wholesale]]rs that meet the following requirements:
[[File:American_Silver_Eagle_monster_box_from_United_States_Mint.png|thumb|right|A green plastic box used by the [[United States Mint]] for shipping American Silver Eagle bullion coins. Each "monster box" holds 25 smaller plastic tubes (shown) which hold 20 coins each for a total of 500 coins.]]
* Be an experienced and established [[market maker]] in silver bullion coins
* Provide a liquid two-way market for the coins
* Be [[audit]]ed annually by an internationally-accepted [[Accountant|accounting firm]]
* Have an established broad base of retail customers to which to distribute the coins
* Have a tangible [[net worth]] of $5 million (this requirement may be met using a [[letter of credit]])<ref name=AuthorizedPurchasers>{{cite web |url=http://www.usmint.gov/consumer/index.cfm?action=AmericanEagles |title=American Eagle Bullion Coins |publisher=United States Mint |accessdate=March 19, 2010}}</ref>
Authorized purchasers must order a minimum of 25,000 coins which they sell to secondary [[Retailing|retailers]] that sell them, in turn, to the public.<ref name=AuthorizedPurchasers /> When sales of Silver Eagle bullion coins began in November 1986, the Mint had approved twenty-eight authorized purchasers to market the coins throughout the world.<ref>{{cite book |title=1987 Annual Report |publisher=United States Mint |location=Washington, D.C. |page=9}}</ref>

Bullion coins are shipped in so-called "monster boxes." Each green [[plastic]] box holds 500 coins which are packaged in 20-coin plastic tubes. On the lid of each box are two raised [[Seal of the United States Department of the Treasury|Department of the Treasury seals]] and the phrase "United States Mint" in raised lettering. Before shipping, the boxes are sealed with straps by the Mint and labeled with the year of issue and a serial number.<ref>{{cite web |url=http://silvereagleguide.com/american-silver-eagle-green-monster-box/ |title=Silver Eagle Green Monster Box |publisher=Silver Eagle Guide |accessdate=March 19, 2010| archiveurl= https://web.archive.org/web/20100402234512/http://silvereagleguide.com/american-silver-eagle-green-monster-box/| archivedate= 2 April 2010 <!--DASHBot-->| deadurl= no}}</ref>

===Proof, uncirculated, and special issues===

Proof American Silver Eagle coins dated 1986 through 2008 were sold directly to the public by the United States Mint at a fixed price. The coins were packaged in a protective plastic capsule mounted in a [[satin]]-lined, [[velvet]]-covered presentation case and accompanied by a [[certificate of authenticity]].<ref>{{cite web |url=http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=american_proof |title=American Eagle Proof Coins for Collectors |publisher=United States Mint |accessdate=March 19, 2010| archiveurl= https://web.archive.org/web/20100421101746/http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=american_proof| archivedate= 21 April 2010 <!--DASHBot-->| deadurl= no}}</ref> Proof Silver Eagle coins first became available through the United States Mint's subscription program in October 2002.<ref>{{cite web |url=http://www.usmint.gov/downloads/about/annual_report/2002AnnualReport.pdf |title=2002 Annual Report |publisher=United States Mint |page=10 |format=PDF |accessdate=March 14, 2010}}</ref> Uncirculated coins dated 2006 through 2008 were sold directly to the public by the United States Mint in packaging similar to that of the proof coins; however, the 2006 coin's capsule was housed in a velvet drawstring bag. Special issues and sets are sold directly to the public by the United States Mint.

==Value==
American Silver Eagle bullion coins carry a face value of US$1. This is their legal value reflecting their issue and [[monetization]] as coins. Per {{uscsub|31|5112|h}}, the coins are [[legal tender]] for all [[debts]] public and private at their face value. This value does not reflect their [[Intrinsic value (numismatics)|intrinsic value]] which is much greater and is dictated by their silver content and the metal's spot price.

Mintages, and thus prices, of bullion, proof, and uncirculated Silver Eagle coins have varied widely, and the potential collector is advised to check a standard reference book before buying them. Generally, the bullion versions have been minted in the millions, while the proof and uncirculated versions were issued in the hundreds of thousands each. Most dates of the bullion issue are not particularly expensive (around $25 as of September 2016) and are traded at a premium above the intrinsic value of the silver they contain; most proof versions (around $65–$75 as of 2016) and uncirculated versions (around $25–$75 as of 2016) sell for more. Some issues sell for significant sums, for example the 1995-W proof ($3,800 as of 2016) and the 2006 20th anniversary set containing a special "Reverse Proof" coin along with a regular proof coin and the new "Burnished Uncirculated" coin ($250 as of 2016).<ref name="Yeoman">{{cite book |last1=Yeoman |first1=Richard S. |editor1-last=Bressett |editor1-first=Kenneth |title=[[A Guide Book of United States Coins|The Official Red Book: A Guide Book of United States Coins: 2017]] |edition=70 |year=2016 |publisher=[[Whitman Publishing]] |location=Atlanta |isbn=978-0-7948-43854}}</ref>

==See also==

{{Portal|Numismatics}}
*[[America the Beautiful Silver Bullion Coins]] – United States silver bullion coin program
*[[American Buffalo (coin)]] – United States gold bullion coin program
*[[American Gold Eagle]] – United States gold bullion coin program
*[[American Platinum Eagle]] – United States platinum bullion coin program
*[[Bullion coin]]
*[[Canadian Silver Maple Leaf]] – Canadian silver bullion coin program
*[[Silver as an investment]]
*[[United States dollar coin]]

==References==
{{Include-USGov|agency=[[Internal Revenue Service]]}}<br>
{{Include-USGov|agency=[[United States Congress]]}}<br>
{{Include-USGov|agency=[[United States Mint]]}}
{{Reflist|30em}}

==Further reading==
* {{cite book |first=John |last=Mercanti |title=American Silver Eagles: A Guide to the U.S. Bullion Coin Program |location= |publisher=Whitman Publishing |year=2012 |isbn=978-0794837259}}

==External links==

*[http://www.usmint.gov/mint_programs/index.cfm?action=american_eagles United States Mint American Eagles page]
*[http://www.usmint.gov/downloads/mint_programs/am_eagles/AMERSILVREAGLE.pdf Brochure from the United States Mint (2003)]
*[http://silvereagleguide.com/ Silver Eagle Guide]
*[http://www.coinpage.com/silver%20eagle-pictures.html American Silver Eagle Pictures at Coin Page Database]


[[Category:United States silver coins]]
[[Category:United States dollar coins]]
[[Category:Silver coins]]
[[Category:Coins of the United States]]