The American Silver Eagle coin was first released in 1986 by the United States Mint after it was legally authorized in the previous year. The 1 troy ounce of 99.9% pure silver is the only denomination available and has a face value of $1.
The coin comes in three different versions; the bullion, proof, and uncirculated versions. Of those three, only the bullion version can be used as a form of retirement savings for IRA accounts or 401(k) rollovers (in other words, it is IRA eligible). The coin has been minted in 3 different mints; Philadelphia Mint, West Point Mint, and San Francisco Mint. The bullion version was first minted in San Francisco Mint from 1986 to 1998 before the Philadelphia mint and West Point Mints took over its minting. The proof version has been minted in all of the three mentioned mints since 1986, with every coin bearing the mark of the mint it was produced from. The coins from Philadelphia Mint have a “P” mark on them, those from West Point Mint have a “W” on them, and those from San Francisco Mint have an “S” mark on them. The uncirculated version was not produced until 2006, and it was only produced by West Point Mint. Even after that, it wasn’t produced annually like the other two versions. There have also been special issues if these coins to celebrate important moments in the history of the country.
The coin has beautiful designs on both sides, the obverse featuring an image of Lady Liberty walking. As designed by Adolph A. Weinman in 1916, Lady Liberty walks toward the setting sun with her right hand outstretched and an inscription reading ‘IN GOD WE TRUST’ behind her. This ‘Walking Liberty’ was adopted from one of the country’s old coins, the Walking Liberty Half Dollar coin. The reverse of the coin was designed by John Marcanti in 1986 and it portrays the Great Seal of the United States – an heraldic eagle holding some arrows in its left talon and an olive branch in its right. On top of the eagle are 13 stars that are symbolic of the 13 United States early colonies. Rounding the edge of the coin are inscriptions reading ‘UNITED STATES OF AMERICA’ and ‘1OZ. FINE SILVER-ONE DOLLAR’.
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