Silver American Eagles became the global standard of sovereign silver coins shortly after President Ronald Reagan signed the Liberty Coin Act in 1985. The Liberty Coin Act granted the U.S. Mint authority to produce both bullion and proof versions of the Silver American Eagle. In 1986, the first Silver American Eagle was minted in San Francisco, and the world has never been the same.
The first Silver American Eagle was produced ceremonially on October 29, 1986, at the U.S. Mint's San Francisco Assay Office. Secretary of the Treasury James Baker dramatically reached for the button to turn on the press and said to the media, "I don't need a pick and shovel to start the San Francisco Silver Rush of 1986." Baker’s remark playfully referred to the San Francisco Gold Rush of 1849, which directly led to the opening of the San Francisco facility in 1854. Baker correctly predicted the coming silver rush. Since 1986, more than 750 million Silver American Eagles have been sold. Read the fabled history of the San Francisco Mint here .
Over the course of its now three-and-a-half-decade tenure, the Silver American Eagle Proof has been struck at three U.S. Mint locations – the San Francisco Mint , from 1986 through 1992, the Philadelphia Mint from 1993 through 2000, the West Point Mint from 2001. No Proof Silver Eagles were struck in 2009. All three mint locations have produced Silver American Eagle Proofs since 2016. The New York-based West Point Mint boasts most of the coin’s production. Numismatic icon Michael “Miles” Standish wrote the remarkable, best-selling, must-read book about the history of the behind the scene details of the Silver American Eagles.
Proof coins purchased directly from the U.S. Mint are not graded. Obtaining a certified grade or rating for a proof coin is an extra step investors take to solidify their quality and status. Receiving a grade from a reputable, third-party grading institution, such as the Numismatic Guaranty Corporation (NGC), officially confirms a coin’s condition and value in the marketplace. Grades are based on various metrics, such as the extent to which the piece shows blemishes like smudges, fingerprints, or surface knicks, the degree to which the piece’s inscriptions are legible and images are defined, and if discoloration or other imperfections are present, among others. Coins are graded on the Sheldon Scale, rated between one and seventy. A seventy (70) is a museum-quality coin with zero flaws or blemishes at five times magnification.
Wholesale Coins Direct handles the coin grading process on behalf of clients before making them available for investment. We proudly provide a proof coin inventory almost exclusively of certified museum-quality PF70-graded pieces – the highest grade granted by NGC. Each Proof 70 coin offered through Wholesale Coins Direct is accompanied by a certification label hand-signed by former Director of the U.S. Mint, Edmund C. Moy.
The Ed Moy certification label program is a unique and exclusive feature offered only to U.S. Gold Bureau clients. Each PF70 coin includes an exclusive certification label hand-signed by the 38th Director of the U.S. Mint, Edmund C. Moy. The Ed Moy signature series is the premier signature in the numismatic world. Coins with Mr. Moy's signatures have repeatedly shown incredible price appreciation. Click here to see some of the price growth of Silver American Eagles with Mr. Moy’s signature.
These popular silver collectibles were updated in 2021 with a refreshed obverse (heads) and a completely redesigned reverse (tails) to mark the 35th anniversary of the American Eagle Coin Program. In addition to the redesigned reverse and enhanced design details on the obverse, the American Eagle Silver Proof Coins are minted in great detail using new technology and include a reed pattern variation. These features will make the coins more difficult to counterfeit. The Mint benchmarked its efforts against anti-counterfeiting programs implemented by major mints worldwide.
As in all previous years, the 2023 Silver American Eagle Proof will be guaranteed by the U.S. government to comprise one troy ounce of 99.9% pure silver. It will measure just over one-and-a-half inches in diameter and have reeded edges. It carries a legal tender, although essentially nominal, face value of $1. Silver American Eagles-proof coins are generally in high demand because of their rarity, pure silver content, and beautiful design. This, along with other collectible reasons, is why the series has seen appreciation in value over time.
Silver American Eagle PF70 coins can be a powerful hedge in an age-appropriate, balanced portfolio. Over the last five years, Silver American Eagle PF70 coins have averaged 49.7% price appreciation. Since they are valued for their rarity, not their weight, they are not subject to the ups and downs of the commodities market. Proof coins have historically been more stable over time than silver bullion alone. Wholesale Coins Direct recommends Silver American Eagle PF70 coins as a long-term value store to help protect your portfolio from turbulent economic times and the depreciating Dollar.
The Silver American Eagle Proof coin has come to represent American coinage's esteemed legacy and artistic excellence. The unwavering American spirit is committed to the ideals of democracy and freedom promised by this great nation. Silver American Eagle Proof coins are more than an investment. They represent the legacy of the greatest country on earth and the hope for a better tomorrow. Silver American Eagle PF70 coins are a favorite of people wanting to leave a meaningful and strategic legacy to heirs.