US Silver Dollar Eagles

History of the Silver Dollar
The US Silver Dollar Eagle is perhaps one of the most well known silver coins in the world and certainly one of the most collected.

A pocket history of silver coinage demonstrates that silver has been used for currency for hundreds of years with the first currency of the modern Greek state called the Phoenix. This was issued in 1828 as a silver coin equal to the then French franc. In Germany silver coins were called "Talers". This word was translated into many languages including the English as daler, daaler and eventually dollar, A word we now know so well.

In Scotland a thirty shilling silver coin was struck between 1567 and 1571 and used by James VI of Scotland and this was called the Sword Dollar. Another potential source of the silver dollar. This was followed by Charles the II who struck the Double Merk of 1578. This was called the Thistle Dollar and Spain, as we know, issued crown sized silver coins as 8 reales.

It is still possible to find many examples of these silver coins throughout the ages in museums and in private collections. Indeed, the history of silver coinage that brings us to the US Silver Dollar Eagle is a fascinating.

US Silver Dollar Eagle
US silver dollar coins were minted between 1792 and 1964, and ranged in size from the small three cent silver or half dimes to the Trade and Morgan Silver dollars.

In 1916 the Liberty Walking silver half dollar was introduce. This was minted in Denver, Philadelphia and San Francisco. The Liberty Walking half-dollars, however, are not full silver coins but composed of only 90% silver and the balance in copper with each coin containing only 0.36169 ounces of pure silver. Nevertheless these coins are very popular as they are somewhat less expensive and easier to collect and accumulate over time.

On the 24th of November, 1986 the very first US silver dollar eagle was struck. The face value was one dollar and it was guaranteed to contain one troy ounce of fine silver .999. The silver dollar eagle is still the official silver bullion coin of the United States and is the only silver coin backed by the US Congress and its weight and content certified by the United States Government.

There are several mints at which the silver dollar eagle is struck. Each has their own mint mark and the mint at which a particular coin is struck can be identified by that mark. For example all silver eagles struck at the Philadelphia mint have a "P" mintmark. Those from the San Francisco mint bear an "S" mintmark and those from the West Point carry a "W".

The "Walking Liberty" design, first introduced by Adolph A. Weinman on the half dollar design around 1916 to 1947, was taken and used on the obverse of the coin. This was a very popular design and was likely used with this in mind. The reverse contains a heraldic eagle designed by John Mercanti.

The complete list of silver coins, their types and denominations are as follows:

Silver Dollars
Flowing Hair Silver Dollars (1794-1795)
Draped Bust Silver Dollar (1795-1804)
Seated Liberty Silver Dollars (1840-1873)
Trade Silver Dollars (1873-1885)
Morgan Silver Dollars (1878-1904 & 1921)
Peace Silver Dollars (1921-1935)

Silver Half Dollars
Flowing Hair Silver Half Dollars (1794-1795)
Draped Bust Silver Half Dollars (1796-1797, 1801-1807)
Capped Bust Silver Half Dollars (1807-1836)
Seated Liberty Silver Half Dollars (1839-1891)
Barber Silver Half Dollars (1892-1915)
Walking Liberty Silver Half Dollars (1916-1947)
Franklin Silver Half Dollars (1948-1963)

The US silver dollar eagle may be used to fund an IRA Individual Retirement Account) investment program.

Where to find US Silver Dollar Eagles
Although there is currently no new US silver dollar eagles being struck by the US mint, US silver dollar eagles can still be found in auctions, at dealers and with coin collectors in private collections.

Before buying any US silver dollar eagles it is a good idea to know as much about them as possible. Their history, the various types and strikes by the different mints, the values and what one can expect to buy them for.

Here are some useful tips to keep in mind when buying US silver dollar eagles.

When buying from a dealer ensure that the dealer has a fixed address and contactable phone number. Most of the established dealers have good service and are eager to please. Check they have a returns policy anyway as the coin you receive may not be exactly as you though from the picture. Many dealers use stock photos on their websites.

Most bona fide dealers will go to great pains to assure you of their long term commitment to the business and to their customers and it is a good idea to build up a relationship with a particular dealer so you can buy silver coins with them with confidence.

Auctions are different. You do not know with whom you are dealing mostly. Many auctions use the feedback system as a way of being able to determine the credibility of the dealer or seller. While it is not 100 percent guaranteed it is a useful indicator. You will find many dealers also sell on such sites as eBay also.

It is always a good idea to read the terms and conditions of a seller, as boring as it might sound. You would be surprised at what you can find hidden in those tiny words.

Do not hesitate to contact, by email or phone, the seller or dealer and see how long it takes to get a response and what the quality of the response is. A simple question about delivery is always a good way of doing this.

Checking out the various forums on silver coins is a good idea. Find out what other people say.

There are also coin clubs one can belong to and get advice and talk to others who have similar interests. It is amazing what you can find out about the US Silver Dollar Eagle!

With a bit of common sense and some patient research, understanding the silver market can be very satisfying and rewarding when it comes to buying and owning US Silver Dollar Eagles.

Buy Wholesale Silver

In Thailand, especially in Khao San Road in Bangkok, there is a thriving silver trade with masses of silver shops. All types of silver items can be bought here - earrings, necklaces, bracelets. They all do brisk business and sell lots of silver. However this is not the best way to buy wholesale silver. This is almost all jewelery silver so is in the form of chains, earrings necklaces etc and there is no guarantee that the silver is pure. It is a very much bargain for over the counter trade and tourists can be spotted at 600 yards.

But for the person serious about preserving their assets with silver, one of the best ways to buy wholesale silver is junk silver coin bags.

Many dealers sell ‘bags’ of silver coins. These are mostly mixed bags of pre 1964 US silver dimes with the occasional eagle thrown in.

One can get lots of 500 US silver dimes, 1000 silver dimes and more. Usually they are mixed dates pre 1964 and the coins will contain about 40% silver.

Also available are silver quarters and ever liberty dollar coins.

A good buy is always the 10 kilo bags of silver coins. The silver content in these bags usually amounts to about 5 kilos of silver in old coins. These bags are limited of course as such coins are not minted anymore so once all the bags are sold the only time you will get one is when they come back on the market. As many people like to preserve their assets in silver this way that could be a long wait. The cost of silver wholesale this way will have a mark up, but compared to the potential increase in silver over the coming years, this is nominal.

Buying silver coins wholesale is also a good way to stock up on silver for a rainy day. Many people stock up on silver with a view to not being caught with their pants down in these economic times and, at the same time, like to have fun sorting out those old quarters and dimes and even eagles. Besides, you never know what you might find when you buy silver coins wholesale in this manner.

Another method of course is buying silver bullion in the larger bars such as ten and fifteen kilo bars. The advantage here is the lower premium on the bars. The disadvantage is the shipping, delivery, storage and insurance costs.

Whatever type of silver bullion you buy, buying wholesale silver is definitely the way to go!

When to Sell Silver Bullion

It is important to know when to sell silver bullion just as it is to buy silver bullion. Most people have silver as an insurance against the potential dangers of inflated currency, so it is vital a proper judgment is made on when to sell so that one’s asset value is retained. Selling at the wrong time can jeopardize the asset value and result in a loss of the original investment not to mention potential gains from the future price of silver.

The time to sell silver bullion should not be dependent on the value of silver but on the need to convert to cash. For this reason it is a good idea to have a mix of various silver bullion products. Silver coins, Junk coins, small silver bars as well as large ones.

Owning just one very large bar of silver, for example restricts you in that you would have to sell the entire bar just to get access to what would likely be a small amount of funds. Owning some coins, such as junk coins for example, means that you can sell as many or as less coins as you need to satisfy your current cash flow needs. Owning some smaller silver bullion bars also is a good idea as then you can pick and choose more closely what you want to cash in. It is wise, if you own rare or proof silver coins, not to sell them at all. Sometimes they can be difficult to replace due to a limited mintage or rarity.

One should consider to whom one is selling coins. Perhaps you would like, at another time, to buy them back. Belonging to a coin collectors club or having a reputable dealer you know and transact frequently means you can usually sell the silver bullion with the possibility of buying it back at a later time. This would be unlikely if you sold your silver bullion on eBay for example. If you do sell through auctions or even newspaper classifieds or unknown dealers, make sure you can trust the buyer, particularly if the value of the silver is high.

Of course it is better not to sell silver bullion if you can possibly help it. The future value is expected to rise and that means there can be a potential loss by selling now so it is better not to sell any silver asset unless you really need to and then sell only enough silver to convert to what you actually need.

The current overall trend of silver is rising. The value of silver has continued to rise over the past few years, as the need for industry outweighs the production of silver. Silver is not being mined a great deal and new silver is mostly being obtained as a by product of mining other minerals or metals.

In view of the above in reality, when to sell silver bullion should probably consider to be never. That way one can retain one’s silver bullion and enjoy the lasting benefits of it.

Where to Buy Silver Bullion

Here we look at where to buy silver bullion.

There are many places to buy silver bullion. Dealers, auctions, mints, exchange traded funds, even online.

But which is the best place to buy silver bullion and how do we get it at the right price?

Dealers. Currently there is a waiting period for delivery if you buy silver bullion from dealers and mints. The premium can also be quite high depending on what type of silver bullion you buy. If you are buying coins such as American Silver eagles or one ounce silver bullion bars for example. The premium is going to be high. Silver rounds offer a better deal as there is less work required to produce the rounds. Junk silver coins (early US dollars, quarters and dimes with silver content)can be a good buy if you buy enough in one hit. But there are delivery, shipping and insurance charges to think about. All add to the cost of the silver bullion.

Auctions. There are auctions that one attends physically and online auctions where one bids sight unseen Rarely will you see silver bullion being offered for sale at auctions you can attend to. Perhaps some antique silver may be available but it is likely the price will reflect the current demand for silver and so be fairly high. Online auctions are another way to buy silver bullion. Again, here the price will reflect the demand. The premium here can be anywhere from 10 percent up to 60 percent or even double.

Mints. Mints offer proof silver coins and theme coins. Also silver bullion in the form of "biscuits" or small pressed bars. These invariably are presented in attractive presentation boxes which add to the cost. Here the premium can be the highest and the silver can cost you over twice the value of the silver. In addition there are delivery, shipping and insurance costs to take into account.

Exchange Traded Funds. With ETFs (exchange traded funds) you are not actually buying silver but simply the right to trade it or, more accurately, trade the price of silver. There is some doubt as to the amount of silver backing Silver ETF funds and trading on the variable price of silver is not a very good way to preserve assets. A cursory glance at the trading price of silver compared to the real prices being asked for and offered for physical silver will quickly show the disadvantages of preserving assets with an ETF.

Online. Buying silver bullion online can be very convenient. It is easy to shop around and find a dealer with the lowest premium or mark up. By the same token you do need to verify the dealer is bona fide before parting with your hard earned cash.

GoldMoney. A very convenient way of buying silver bullion on line is GoldMoney. Here you can simply open an account and purchase any amount of silver with no minimum or maximum. You can easily save or accumulate silver bullion on a regular basis and there is no minimum or maximum. The premium is reasonable and you have no shipping, delivery or insurance issues to worry about. In addition, instead of waiting for the current 3 to 6 weeks or more for delivery, the silver is placed in your account. In other words, ownership of the silver bullion purchases, is in your account straight away. The silver in your account, as is the gold they are custodians of, is audited regularly and fully insured. Both silver and gold are kept in bank vaults in London, in the UK and in Switzerland. By going to GoldMoney you can open an account free and start to accumulate silver bullion at a regular comfortable rate you can afford.

It is good to know that there is somewhere where you can buy silver bullion without paying the earth for it.

Buy Silver Bullion Online

It is possible to buy silver bullion online without paying too much by way of a premium.

The first method that comes to mind of course is simply buying large quantities of silver bullion at once where the premium, or mark up, can be nominal. Conversely, the smaller amount of silver bullion you buy in one hit the larger the premium will be. So one way of paying a minimal premium on silver bullion is to buy large quantities, several kilos in fact. But if you cannot do that and you are on a budget then an alternative method is needed.

Seeking out silver bullion in the form of bars and coins or better, silver rounds with a low premium is one way of doing this. Some silver dealers can provide silver bars and rounds for a premium but the premium can be up to twice the value of the silver. On the other hand, what is often called junk silver coins, early US coins with silver content, sold in bags up to about 10 kilos still remains an economical method of buying silver as the premium is still low.

Some people use Silver ETFs (exchange traded funds) but you don’t actually own the silver and cannot redeem the silver in etfs. Of more concern, is that there are serious questions about the amount of silver backing the etfs. So is one really investing in silver at all under these circumstances?

Buying silver bullion at auctions, such as eBay for example, has its, disadvantages. The premium over the spot price is still going to be quite high, and you have to be really sure that the person you deal with (the seller) is genuine and that you are actually buying the full weight of silver. Some sellers have been known to drill out the contents of silver coins and bars and replace the contents with lead then putting a fine coast of silver over the hole. Thereby reducing the value of the coins and bars. The larger bars are more at risk here of course.

One effective way of buying silver where the premium is not too high and is proportional to the amount of silver you buy is with GoldMoney. Here you can open an account and buy silver bullion online by going to goldmoney.com. You can can buy silver bullion online in a safe and convenient manner without all the associated problems one has dealing with unknown sellers, high premiums, shipping and storage problems, as well as well as be able to take the silver bullion into your ownership right away and not wait weeks and weeks for delivery. You can also buy gold bullion as well and even take delivery of 1000 gram gold bullion bars for a nominal sum.