You can buy Silver Eagles from a gold and silver dealer. Precious metals dealers can be found locally and online. Some financial institutions, including banks, may sell Silver Eagles, as well.[1][2]
The U.S. Mint strikes three types of American Silver Eagle coins: bullion, proof, and uncirculated. You cannot purchase Silver Eagle bullion coins from the Mint, but you can buy the proof and uncirculated versions there.[3]
See more about your options for where to buy Silver Eagles in this article.
Silver Eagles Buying FAQ
Because Silver Eagles are so popular, new investors have a lot of questions about where to buy them.
You can find answers to some of the most frequently asked questions about buying Silver Eagles below.
How to Buy Silver Eagles Directly from the Mint
Buying Silver Eagle Bullion Coins
You can’t buy Silver Eagle bullion coins directly from the U.S. Mint, unless you’re an “authorized purchaser.” Although the U.S. Mint produces these coins, it doesn’t sell them directly to the public.
Instead, the U.S. Mint uses a broad network of dealers, known as “authorized purchasers.” These dealers turn around and sell Silver Eagles to other wholesalers, retailers, and financial institutions. Businesses have to meet strict requirements before becoming an authorized dealer to ensure their credibility and trustworthiness.
Buying Silver Eagle Proof and Uncirculated Coins
You can buy American Eagle Silver proof and uncirculated coins from the U.S. Mint.
The Mint employs a special process for striking American Eagle proof coins to produce a spectacular finish: the blanks and the dies are polished by hand and each blank is struck at least twice. The result? A finely sculpted design, its intricate details enhanced by a reflective background.[4]
Exceptional care is also taken when striking uncirculated Silver Eagles; however, in contrast to their proof counterparts, these coins feature a matte finish.
Keep in mind that once the Mint sells out of the current year of the Silver Eagle proof coin, that’s it; the Mint won’t restock and sell them again. You’ll have to wait until the next year’s Silver Eagle proof coin is released.[5]
Where to Buy Silver Eagles Locally
Precious metal dealers are one of the most popular places for investors to purchase Silver Eagles, along with other bullion and numismatic coins.
Buying a Silver Eagle coin from a local precious metals dealer can have significant advantages. These establishments usually have experienced precious metals advisors who can answer any questions you may have and offer you educational resources. So you can not only enter the market but also become a savvy precious metals investor.
When interacting with a local precious metals dealer, you can take possession of the silver immediately after purchase (when in stock). Furthermore, you know exactly where to find the dealer if something were to go wrong.
When looking for a reputable gold and silver dealer, there are a couple of points to consider:
1. Check the U.S. Mint Directory
The U.S. Mint keeps a directory of bullion dealers on its site. This is a great place to start when looking for a trustworthy gold and silver dealer. You can easily filter your search by state to find the name, address, and contact information of nearby dealers.
2. Look for Established Precious Metals Dealers
Age is often a sign of reputation and trust in the world of precious metals. When looking to buy a Silver Eagle coin, it can be beneficial to find a gold and silver dealer who has been in the field for years. This experience not only speaks to their trustworthiness but also to their knowledge and expertise.
Can You Buy American Silver Eagle Coins at a Bank?
Yes, you can buy American Silver Eagle coins at a bank. The U.S. Mint indicates that it sells Silver Eagles to authorized purchasers. These “authorized purchasers create a two-way market buying and selling to wholesalers, financial institutions, and other secondary retailers.”1
However, banks may not be the best place to buy Silver Eagles because bullion trading is seldom their main focus. It’s unlikely your local bank will have them. And, if by chance, it does from a one-off trade, it typically won’t have a large quantity of the coins.[6]
Where to Buy Silver Eagles Online
Some people consider buying a Silver Eagle online. While there are countless marketplaces and online dealers, there are some important considerations to take into account. Because of the internet’s lack of oversight and protection, buying gold and silver coins online can be riskier.
Here are some tips you can take to avoid scams when buying a Silver Eagle online:
1. Look for Customer Reviews
Testimonials from previous customers can help you determine the legitimacy of an online seller. Seeing what others are saying about the precious metals dealer can lend some insight into what it might be like purchasing from them. For dealers who don’t have this information on their site, you can search Google, Yelp, and other popular review sites.
2. Check for Buyback Policies
Many reputable precious metal dealers will provide a buyback policy. Untrustworthy dealers won’t offer this option. Don’t forget to read the fine print regarding the limitations of the policy.
Are Silver Eagles a Good Investment?
Originally released in 1986, the Silver Eagle has remained a consistently popular option among precious metal investors. Recent economic uncertainty has led more investors to seek Silver Eagles for portfolio diversification.
With some experts forecasting $50-an-ounce silver in the near future, silver is a good investment now. And the American Eagle silver coin is a secure option for new and veteran investors alike.
How Much Is the Silver Eagle Worth?
While the Silver Eagle is technically legal tender, it’s value in silver greatly exceeds its tender value of only one dollar.
Each coin is struck with a minimum of one troy ounce of 99.9% fine silver. Gold and silver dealers typically price American Eagle coins based on their weight in gold or silver, plus a small premium. Check today’s spot silver price chart for an idea of the current value of a Silver Eagle coin.
Where Can I Buy Silver Eagles in Arizona?
Purchasing Silver Eagles from your local dealer can be the safest option because you know where to find them should you have questions or problems.
It’s also a good idea to start with the U.S. Mint’s directory of gold and silver dealers when looking for a local seller. Scottsdale Bullion & Coin is one of the precious metals dealers on the U.S. Mint’s list.
The SBC team has decades of combined experience helping investors diversify their portfolios and secure their wealth with precious metals. We’re here to answer your questions and help you with your purchase of Silver Eagle coins.
To learn more about Scottsdale Bullion & Coin, as well as investing in gold and silver, request our FREE Precious Metals Investor Guide Today!
Learn more about the American Silver Eagle Coins
What Is a Silver Eagle Coin?
The American Eagle silver coin is the United States’ official silver bullion coin and a popular option among both coin collectors and precious metals investors.
The U.S. Mint strikes Silver Eagles and certifies their purity, weight, and content. These uncirculated coins have always enjoyed high demand because they are eligible for inclusion in a precious metals IRA, making them affordable instruments of portfolio diversification when compared to gold. Read more about IRA approved gold and silver coins.
Collectors may be especially drawn to the mirrored elements, high luster, and limited mintages of the Proof American Eagle and Burnished American Eagle silver coins.
What Is the Silver Eagle’s Design?
When you buy an American Eagle silver coin, you’re adding a piece of history to your collection. Because both the reverse and obverse of these coins feature the famous designs by renowned artists that helped elevate the status of our country’s coinage on the world stage.
Obverse Design
A rendition of artist Adolph A. Weinman’s feminine, walking personification of Liberty, which originally appeared on the 1916 “Walking Liberty” half dollar, graces the obverse of the coin. Inscriptions of “LIBERTY,” “IN GOD WE TRUST,” and the year encircle this inspiring image of one of our country’s foundational values.
Reverse Design
For nearly 35 years, the reverse of the Silver Eagle has been home to sculptor John Mercanti’s symmetrical heraldic eagle with shield. “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” “1 OZ. FINE SILVER,” and “ONE DOLLAR” are engraved around this emblem of America’s strength and endurance.[7]
In mid-2021, however, the American Silver Eagle’s reverse design will change. The U.S. Mint will replace Mercanti’s formal heraldic eagle with an eagle in the wild coming in for a landing. The new artist is a member of the Mint’s Artistic Infusion Program.
🔖 Related reading: Where Can I Buy Gold Eagles?