Gainesville Coins currently has the best price on American Silver Eagle coins at just $4.50 over spot (at the time of writing). It is important to shop around and confirm this to ensure you are getting the best deal possible. You will be hard-pressed to find a better price for Silver Eagles elsewhere.
The American Silver Eagle features the iconic “Walking Liberty” design.
Understanding Silver Pricing
Many investors are curious as to why they cannot buy silver at the spot price, which represents the lowest possible cost. This is due to the fact that there are labor costs and manufacturing costs associated with producing silver products. Mints incur expenses for refining silver to 99.9% purity, which results in every silver product being priced at a small premium above the silver spot price. This premium price remains a fixed amount above the fluctuating silver spot price.
The premium above spot tends to be slightly higher for legal tender coins compared to silver bars and rounds. This is particularly true for American Silver Eagle coins, as their higher quality designs and government-issued status contribute to the slightly higher price. Silver Eagles are globally renowned as the most trusted and beloved silver bullion coins, making them typically more expensive than other comparable 1 oz silver coins. Premiums are generally lower for coins like the Canadian Silver Maple Leaf.
Normalization of American Silver Eagle Prices
Following the onset of the COVID-19 pandemic, the premium on Silver Eagles experienced a significant spike due to disrupted silver supply chains and a surge in demand for silver bullion during economic shutdowns. The premium over spot for a Silver Eagle reached as high as a 100% premium, doubling the price for one troy ounce of silver. However, after four years, despite ongoing silver scarcity and strong demand for silver coins, the prices for Silver Eagles have normalized and largely returned to pre-pandemic levels.
Silver Eagles also come in special-edition proof and reverse proof varieties for collectors.
Debunking “Free” Shipping
Many online silver dealers may promote “free shipping” offers, but in reality, the cost of shipping is factored into the price of the silver product. Economics dictate that there is no such thing as a free lunch, and the same applies to shipping precious metals. Shipping costs are inevitably covered by the buyer, even with offers of “free” shipping. Gainesville Coins continues to offer the lowest prices on silver bullion and American Silver Eagles when factoring in shipping costs.
More Insights on Silver Eagles
Authorized by the Liberty Coin Act of 1985, the United States Mint began issuing bullion coins made of gold, silver, and later platinum, giving birth to the Silver Eagle series in 1986. Each Silver Eagle contains one troy ounce of pure silver, struck from .999 fine silver at mint locations including the West Point Mint, San Francisco Mint, and occasionally the Philadelphia Mint.
Despite being assigned a legal tender face value of one dollar, the intrinsic metal value of the coin far exceeds this nominal value. As legal tender coins, Silver Eagles are eligible for IRA inclusion. The iconic design on the obverse side of the coin, adapted from A.A. Weinman’s Walking Liberty half dollar, features Lady Liberty symbolizing freedom and prosperity. The reverse design has transitioned from an heraldic eagle to a flying eagle carrying an olive branch.
Due to their historical significance and trusted status, Silver Eagle coins remain highly sought after by coin collectors and investors alike as the official silver bullion coin of the United States.
Explore Great Deals on American Silver Eagles!
You can browse and purchase American Silver Eagles from Gainesville Coins using the provided link. Choose from options such as Silver Eagle tubes, monster boxes, or individual coins, including both current year and random year backdates. Accepted payment methods include check, credit cards, or bank wire.
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