How Are American Silver Eagle Coins Different Than Other Coins?

COIN WISDOM Facts & History of the American Silver Eagle Coin! During the 1970's and early 80's the U.S. had an abundance of silver held in reserve. The US also had an abundance of debt. There were several plans to sell this silver for use in various programs. Occasionally sales of some of the silver did occur. Invariably this would drive down the value of silver on the market and the results were never as successful as hoped. In 1981, looking to balance the budget, President Reagan got legislation approved for 75% of the silver in the stockpile to be sold over three years. A few months later, upon anticipation of the sale of the silver stockpile, the price of silver dropped dramatically. Due to the terrible effect of the upcoming sale of silver from the government reserve, the bill was stopped by further legislation late in 1981. In 1983, Senator Jim McClure of Idaho had a bright idea. His proposal was to sell stockpiled silver, but to do so in a way that wouldn't adversely affect the silver market. This was the birth of the American Silver Eagle Bullion Coin. It took some time, but in 1986 the first American Eagle Silver Bullion Coin was produced. Specifically, what is a bullion coin? 'Bullion' is a form of a precious metal such as gold, silver, or platinum, from which coin metal alloys are made. In its pure form it is usually sold and traded in the form of bars and ingots. American Silver Eagle Bullion Coins are 99.9% pure silver and have a weight of one troy ounce (31.103 grams). These coins are valued chiefly on their bullion content. Of course, they can have a numismatic value greater than their silver content. American Silver Eagles have a value of one dollar stamped on them. Regardless of the value of silver which comprises it, the coin will always be worth at least one dollar in the U.S.. However, the coin has never been worth that little.