Silver Eagle Coins are one of the most popular silver coins among collectors, here is some history.

 

Gold and silver were both used for a time to determine the value of currency for different countries. America used both standards to value currency by 1873. The gold standard currency was "Silver Eagle Coins" which became highly valued in Europe during the economic downturn spawned by World War One. The silver standard was founded off the peso or “pieces of eight”, and known as Spanish real.

 

The end of the silver standard occurred following the American Civil War during the free banking crisis. By the mid-20th century, silver coins were no longer minted as people wanted a paper currency backed with gold reserves following the economic turmoil of World War I and the Great Depression. But the weak economy forced Congress to shift from a gold standard to the silver standard for the first time in American history in 1933.

 

The U.S. Treasury, not the Federal Reserve exchanged silver dollars and silver bullion through silver certificates until 1968. By the 1970s, the Defense National Stockpile accumulated an excess of silver that resulted in Congress granting permission to liquidate it by the 1980s. This led to silver coins, such as the American Silver Eagle, being struck in 1986, decades after the last silver coins had been produced.

 

From 1986 to 1992, they were minted in San Francisco and bore the “S” mintmark. From 1993 to 2000, they were minted in Philadelphia and bore the “P” mintmark. As of 2001, they bear the “W” mintmark of West Point where they are minted to this day.

 

Due to current economic difficulties, the 2010 Proof Silver Eagle Coins have become record setting silver bullion coins in terms of sales. After a difficult start in January 2010, anticipated shortages pushed the minting and sale period through to 19 November 2010.

 

Despite the cost of $45.95 per coin, the United States Mint has limited each household to a purchase of only one hundred silver coins.