2016 AMERICAN SILVER EAGLE 1 OZ
1 oz Silver American Eagles
Silver American Eagle Coins are 99.9% pure silver weighing 1 troy ounce The coins have a face value of $1.00. 1 Oz. Silver American Eagle coins are the most popular silver bullion coins in the world. The coins ship from the United States Mint in a green "monster boxes" containing 25 rolls of 20 coins. The silver eagle monster box dimensions are 15 X 8.5 X 4.5 inches weighing around 43 pounds shipped. Located inside the monster box is a receipt verifying the content of 25 rolls containing 20 coins. Each box comes with a number on the outside matching the receipt inside. The boxes are sold by the United States Mint to authorized dealers with a minimum purchase of 25,000 coins for $1.50 over spot.
Since 2008, the United States Mint has implemented rationing of coins on several occasions, because they did not have the ability to produce the coins fast enough for consumer demand. For this reason the premium (amount paid over spot) to the end consumer rose dramatically in 2008. An Act of Congress states the silver used for mintage of US silver eagle coins must come from mines located in the United States. Mines in the United States produced 1,200 metric tons of silver (38,580,840 Troy Ounces) in 2007. As you can see from the mintage chart below, the US Mint is approaching the volume of every ounce of silver mined in the United States for production of silver eagle coins. This is not to say there is a silver shortage but this could create a silver eagle shortage.
Silver American Eagle bullion coins mintage by year:
Design of the American Silver Eagle:
The design on the coin's obverse was taken from the "Walking Liberty" design by Adolph A. Weinman which originally had been used on the Walking Liberty Half Dollar coin of the United States from 1916 to 1947. As this iconic design had been a public favorite—and indeed 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.
The reverse was designed by John Mercanti and portrays a heraldic eagle behind a shield; the eagle grasps an 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 stars representing the Thirteen Colonies. The reverse is inscribed with the phrases UNITED STATES OF AMERICA, 1 OZ. FINE SILVER~ONE DOLLAR, and E PLURIBUS UNUM, as well as the mintmark if applicable.
Weight: 1 troy ounce Purity: .999 Mark: United States Mint Legal Tender?