| Why bother with American Eagle Silver Coins? | | | | another. |
| They are not that old -- they were only minted | | | | This is where the greatest measure of |
| starting in 1987. So what is it that makes them | | | | numismatic value lies for the American Eagle |
| valuable? | | | | Silver coin. |
| Before we go too much further, however, we | | | | The rarest and most valuable would be the |
| need to make a distinction in valuation between | | | | '1995-W Proof Silver Eagle' (West Point Mint), part |
| what is important to a numismatist or coin | | | | of the '10th Anniversary American Eagle Five Coin |
| collector from that which is regarded by a | | | | Set' -- only 32,125 sets were minted. The |
| commodity investor. The numismatist would | | | | American Silver Eagle dollar coin in this set is |
| undoubtedly be more interested in the historical | | | | valued at over $4,000.00 today. |
| significance of a coin, when and how it was | | | | Following that is the exceptional '2008 Burnished |
| created and for what purpose or in whose honor | | | | Uncirculated American Silver Eagle', minted |
| (the story). He or she would be particularly keen | | | | erroneously in a small quantity with the 2007 |
| on the rarity of the coin. On the other hand, the | | | | Reverse die -- changing the font of the 'U' in |
| commodity investor would be more intent on | | | | 'United States of America' to the sans serif font |
| turning a profit from a change in value of the | | | | in the older die from what should have been the |
| coin(s) from strictly a 'bullion' or 'rare metal' | | | | new serif font in the 2008 Reverse die. Public |
| viewpoint. In the latter case, condition is | | | | awareness of this error and its limited mintage |
| important, but less so. | | | | has increased its value considerably. |
| Let us first look at things from the perspective of | | | | The '20th anniversary of the American Silver |
| a Numismatist. | | | | Eagle program' produced a limited mintage 2006 |
| Age | | | | Commemorative Set of 3 coins -- regular Proof, |
| Any numismatist will tell you that age is not | | | | Reverse Proof Silver Eagle and Burnished |
| necessarily the deciding factor in determining the | | | | Uncirculated, which are sought after for their |
| value of a coin. In fact, it can be a detriment if | | | | collector's rare value. |
| the coin has not been taken care of properly and | | | | Finally, to further make this point about |
| it has ended up being defaced, scratched, or | | | | numismatic value based on rarity, American Silver |
| chemically eroded in some manner. In any case, | | | | Eagle coins produced in low mintage years (1994, |
| we do not have age on our side as a value | | | | 1993, 1996 and 1995 in that order) are not only |
| determinant for the American Silver Eagle. | | | | still affordable, but very much in demand by |
| Condition | | | | collectors. |
| How about condition? Whatever the age, the | | | | American Silver Eagles are not minted for |
| condition is indeed important. The closer to mint | | | | circulation, but more for their bullion value in the |
| condition the better. I guess that makes the | | | | form of Proofs for collectors and predominately |
| younger American Eagles more likely to be in | | | | as Proofs and Burnished Uncirculated coins for |
| better condition and thus more valuable than | | | | investors. We have seen above that the value of |
| other older coins in not so good condition. | | | | these coins for collectors lies in their rarity due to |
| Coins are often minted for different purposes -- | | | | limited mintage, mintage errors and low mintage |
| Circulated, Uncirculated, Proof, etc. Those that are | | | | commemorative issues. Now let us briefly address |
| not in circulation stand to be much more pristine | | | | their value for commodity investors. |
| or close to mint condition than others. This | | | | American Silver Eagle bullion coins are distinguished |
| especially holds true for American Silver Eagle | | | | from other silver bullion by their certification and |
| coins which are not in circulation at all. | | | | guarantee by the United States government to |
| Rarity | | | | contain one troy ounce of 99.9% pure silver. This |
| A coin is not necessarily rare because it is old. Its | | | | certainly enhances their secure value for |
| rarity depends more on how many are still | | | | investment purposes. |
| 'available' after mint production has ceased. By | | | | As an investor's rather than a collector's coin, the |
| extension, its value is related to its rarity (and on | | | | American Silver Eagle's value is driven by a bullish |
| its condition, of course) and on the market | | | | physical precious metal retail demand in the |
| demand for the particular coin. Sometimes though, | | | | market place. This is particularly true today with |
| the popularity of a coin brings a higher price than | | | | the US Mint's overcoming past difficulties with |
| its rarity. | | | | production bottlenecks and putting a highly |
| Rarity is not only a reflection of availability, but is | | | | sustained supply of American Silver Eagle coins |
| sometimes determined by a quirk in the | | | | into the strong American retail investment |
| production process. An error in minting for some | | | | market. |
| part of the total production makes for a | | | | So there you have it. The not so old American |
| remarkably higher value -- like a defective or | | | | Silver Eagle is worth the bother after all, to both |
| worn die or a change in font from one die lot to | | | | collectors and investors. |