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The United States of America is comprised of 50 states, a federal district and several self-governing territories that make up the federal republic. The U.S. has a population of about 325 million, and covers a land area of some 3.8 million square miles making it one of the largest and most highly populous countries in the world. Washington D.C. is the nation’s capital, and its official language is English. New York City is the country’s largest city and is also one of the largest financial centers in the world. The U.S. declared its independence on July 4th, 1776. Its government is a federal presidential constitutional republic.
The official currency of the United States is the U.S. Dollar. The dollar is one of the most widely traded currencies in the world, and is the global reserve currency of choice. Each dollar can be subdivided into 100 smaller units of currency called cents, and the paper currency is made up of Federal Reserve Notes that are denominated in dollars. The dollar is used all over the globe, and is considered a safe haven currency that may be purchased during times of economic or geopolitical stress.
The Federal Reserve System is the country’s central bank. Often referred to as the Federal Reserve or the Fed for short, the central bank is in charge of issuing and controlling the nation’s currency. The Fed has three primary directives per its mandate to conduct monetary policy. Those directives include maximizing employment, maintaining price stability and moderation of long-term interest rates. The Fed has seen its responsibilities grow over the years, and is now tasked with other key tasks such as oversight of the banking system and maintaining stability of the country’s financial system.
The U.S. Mint is one of the most highly respected mints anywhere in the world. The mint was first established in 1792, and today has four coin-minting locations including San Francisco, Philadelphia, West Point and Denver. The mint produces all circulation coinage for the U.S. but does not produce any of its paper bills.
In addition to circulation coinage, the mint also produces a variety of other products including bullion and collectible coins. The U.S. Silver Eagle coin, for example, is a great example of the quality and craftsmanship that the mint has become known for. The American Silver Eagle is one of the-if not the most-popular coins in the world. This bullion coin was introduced in 1986, and they are the official bullion coin of the U.S. The coin contains one troy ounce of .999 percent fine silver, and comes in bullion, proof and burnished versions. These coins are considered good, legal tender and carry a face value of $1. They tend to have very reasonable premiums, and may be IRA account eligible. The American Silver Eagle is very liquid, and can be easily stored in a safe, bank safe deposit box or depository.
American Silver Eagles are available from a wide variety of brick and mortar coin shops as well as online dealers and may be an excellent choice for building a collection or portfolio.