Best Place To Buy Silver Eagles
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Best Place To Buy Silver Eagles

Joshua McMorrow-Hernandez
Published: January 18, 2021
Updated: April 12, 2021
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So, you’re in the market to buy American Silver Eagles and are looking for the best place to buy them. A good deal, a fair price, and reliable service, to boot?

The first step is to find a reputable coin dealer or bullion broker who offers you the selection of products you’re looking for at fair prices. The United States Mint only sells collectible Silver Eagles to the public, and you will end up overpaying if you buy through an auction site or peer-to-peer exchange.

Gainesville Coins meets all the criteria of a trustworthy bullion dealer and sells American Silver Eagles for the lowest possible prices.

1986 american silver eagle

The first Silver Eagles were issued in 1986

WHY BUY AMERICAN SILVER EAGLES

Why do investors buy American Silver Eagle bullion coins? Silver bars and silver "rounds" are cheaper. What the American Silver Eagle coin has that bars and rounds don't, is the guarantee of the United States government. The gold and silver American Eagle coins were authorized by the Liberty Coin Act in 1986 as the first official bullion coins of the United States.

Unlike old silver dollar coins, the Silver Eagle contains exactly one troy oz of .999 fine silver. As legal tender coins, the 99.9% pure silver bullion in every Silver Eagle is guaranteed by the US government. This makes the ASE one of the most popular investment silver bullion coins ever minted.

Bullion Silver Eagles are easily purchased in any order size desired. This can range from single coins to giant Silver Eagle monster boxes containing 500 coins.

American Silver Eagle

"Monster Boxes" of American Silver Eagles come sealed from the US Mint

Next we'll look at the factors to consider when deciding where to buy American Silver Eagles.

FAIR PRICING

For some people, all that matters is buying silver at the cheapest price they can. But is “cheap” really the best criterion for basing your decisions on where you buy Silver Eagles? The problem with so many cheap Silver Eagle avenues is that they may not even be authentic coins you’re buying.

Think about it for a moment. How can the guy at the flea market or in the want ads offer Silver Eagles cheap? It goes without saying that the buck or two you may think you’re saving on buying cheap Silver Eagles could end up costing you a lot more in the long run.

The price of new American Silver Eagle bullion coins includes:

  • the cost of the silver;

  • the premium the US Mint charges wholesalers for making it (over $2);

  • the premium the wholesaler charges dealers, and;

  • the premium the dealer needs to stay in business.

The premium a dealer charges for "random date" Silver Eagles may differ from current date coins. This reflects the amount over spot that they have to pay investors on the secondary market to get them to sell their ASEs. When demand exceeds supply, it costs more to entice sellers to part with their silver. This extra expense has to be passed on to the customer.

silver eagle coin collection

Adding a Silver Eagle to a coin collection

If someone is selling Silver Eagles for close to (or at!) spot price out of the trunk of their car, you can be sure that they are fake. Counterfeit Silver Eagles are an increasing problem. Just ask the folks at the Anti-Counterfeiting Educational Foundation.

And what about stolen goods? Where do those coins go—and in whose hands do they end up? These are chances you simply can’t take. Deal with a reputable coin shop or online bullion dealer and you’ll always be okay. Sometimes, the cheapest price isn't the best price!

RELIABLE SERVICE

Reliability… As you’ve seen, it’s a common theme throughout this article outlining the best place to buy Silver Eagles. Why? Because in a world of uncertainties, certainty is a valuable commodity. Certainty is something you get from coin dealers who offer consistent service, fair prices, and good customer service. This includes answering questions about coins and investing.

One of the reasons businesses like Disney, McDonald’s, and Sony have proven so popular is that consumers know they can trust these brands and the products and services they offer. Shouldn’t you be able to expect nothing less than quality and consistency from your Silver Eagle dealer, too?

Choose a coin dealer who offers not just an excellent selection and fair pricing but also outstanding service and a satisfaction guarantee. These aren’t just clichés and slogans. They’re honest-to-goodness mission statements for Silver Eagle dealers who want to treat their customers the right way.

This doesn’t mean that every transaction is perfect. That’s impossible. But what it does mean is that they will do everything reasonably possible to ensure the customer is happy with what he or she receives. Find a dealer like that, and you’ve struck real silver.

Silver Eagle Coins on Hand

A handful of Silver Eagle coins

A DESIRE TO EDUCATE

Knowledge is power, isn’t it? The challenge with knowledge is that, sometimes, it’s difficult to know where to find it. But there are Silver Eagle dealers out there who want their customers to be informed buyers and investors.

Find a coin dealer who offers quality educational content and offers informed advice. These aren’t necessarily benefits that every Silver Eagle dealer will offer. Still, these types of bullion professionals are out there. They work hard to earn and maintain the trust and respect of their customers.

A FEW MORE THINGS TO CONSIDER WHEN BUYING SILVER EAGLES

When you’re looking for a good place to buy Silver Eagles, make sure the dealer is well suited to buy and sell these bullion coins.

While dealers don’t need a license to sell Silver Eagles, there are credentials that the best Silver Eagle dealers have earned that set them apart. These include:

  • Membership in leading industry organizations, such as the American Numismatic Association, Industry Council for Tangible Assets, and the National Inflation Association.

  • Recognition as a reputable bullion dealer from unpaid customer feedback, and an A+ rating by the Better Business Bureau.

  • Authorized to serve as a depository for self-directed IRAs.

The bottom line? The best place to buy Silver Eagles is the dealer who provides you the items you want at the right price, with the high level of service you deserve!

TYPES OF AMERICAN SILVER EAGLES

American Silver Eagles are available in a wide selection of finishes. This allows both investors and collectors to build fantastic portfolios of these beloved silver coins.

When choosing a coin dealer or bullion broker, it’s wise to choose one that offers a large selection of both bullion and numismatic Silver Eagles. Numismatic, or collectible, American Silver Eagles have limited mintages. Numismatic Silver Eagles generally come in two varieties: proof and uncirculated.

Silver Eagle proof coins are produced at the West Point Mint, which also makes bullion Silver Eagles. The San Francisco Mint sometimes strikes Silver Eagle proofs as well. Proof coins are made from special polished blanks using carefully engraved dies. Uncirculated Silver Eagles are also struck at West Point. They are minted in much the same way as proofs, but using burnished blanks instead of polished ones.

2006 p reverse proof american silver eagle

2006-P American Silver Eagle with reverse proof finish

Rare types of numismatic Silver Eagles include reverse proof and enhanced uncirculated coins. All numismatic American Silver Eagles carry the mint mark of the Mint that struck them.

Bullion Silver Eagles do not have a mint mark. They are produced on high speed coin presses to meet demand. The US Mint produced more than 565 million American Silver Eagles between 1896 and 2020.

You may be an investor who doesn’t wish to spend money on an uncirculated or proof American Silver Eagle. But if you’d like to buy some numismatic Silver Eagles later, it would be nice to have a dealer who offers the full gamut of Silver Eagle products you want.

Shop for American Silver Eagles available for sale at Gainesville Coins below.

THE 2021 AMERICAN SILVER EAGLE

2021 marks the first change in the Silver and Gold American Eagle designs. Both will receive new reverse designs to celebrate their 35th anniversary. The heraldic eagle on the Silver Eagle is being replaced in mid-2021 with the image of a bald eagle holding an oak branch.

new silver eagle reverse

New Silver Eagle reverse design

A. A. Weinman's "Walking Liberty" half dollar design continues as the obverse of the Silver Eagle. The design is being refreshed, using the sculptor's original models. This means both the 2021 bullion and the 2021-W proof Silver Eagles will have two different reverse designs. You can read more about this historic change by following the link.


Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild. He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage.

More buying guides from Gainesville Coins:

Silver Eagle Values: Complete Pricing Guide

The 3 Best Ways to Buy Gold

How to Buy Gold Bars: Buyer's Guide

How to Buy Silver Coins: Step-by-Step Guide

Top 15 Best Coins to Collect: A Definitive Guide

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