At this time, and up until President Reagan took office, the prevailing wisdom about silver as that its production far exceeded any strategic need for the metal. After more than 40 years, US citizens could legally own as much gold as they wanted. President Gerald Ford re-legalized the private ownership of gold near the end of 1974. The government held massive reserves of silver as part of the national-defense stockpile, but more about that in a moment. Just a few years prior, the precious metal silver was considered too expensive to use for coinage: the US Mints had stopped using silver in American Coinage in 1965. The Gold Reserve Act of 1934 changed the dollar value of gold from $20.67 to $35 per ounce, a price point that remained in effect till August 15, 1971, when President Nixon took the country off the gold standard entirely. Meanwhile, silver fluctuated between 30 cents and 90 cents an ounce. Throughout the 1930s and into the 1960s, the spot price of gold was pegged by the US Government at a steady $35 an ounce. The value of the gold held by the government tripled between 19. Millions of gold coins were delivered and subsequently melted into gold bars and stored at the Bullion Depository in Fort Knox. The order required all persons to deliver all gold coin, gold bullion, and gold certificates now owned by them to a Federal Reserve Bank on pain of criminal prosecution. President Franklin Roosevelt signed Executive Order 6102 which prohibited the hoarding of gold. The banking system was wounded and fragile throughout the early 1930s. Introduced as a silver investment vehicle, the seeds of the Silver American Eagle bullion program were actually planted as far back as the Great Depression.
Now, bullion coins issued by governments the world over, are gaining a modern quasi-numismatic value because of their limited mintages, rarity, and condition. Bullion coins, like the South African Krugerrand and the Canadian Maple Leaf, are valued by its weight in a specific precious metal and are intended for investors seeking a simple and tangible means to own precious metals. The first release of the Silver American Eagle by the US Mint on November 24 th, 1986 was an instant success and has since become the most popular silver bullion coin in history with a guarantee for weight and purity from the US Government. Guaranteed by the United States Government for purity and content.Reverse: Mercant’s Heraldic Eagle | (since 2021) Emily Damstra’s wings spread Bald Eagle.Obverse: Weinman’s Classic Walking Liberty.The 2020 S proof silver eagle is worth around $100 in proof condition. The 2020 W proof silver eagle is worth around $95 in proof condition. The 2020 W 75th anniversary of the end of WWII proof silver eagle is worth around $500 in uncirculated condition. The 2020 W burnished silver eagle is worth around $90 in uncirculated condition. The 2020 silver eagle with no mint mark is worth around $45 in uncirculated condition.
Therefore $25.64 is the current melt value of this coin. The current spot price of silver is $25.64 per ounce as of May 07, 2023. This coin, regardless of condition, is worth at least its weight in silver. Each proof coin originally comes in a US Mint issued velvet box and a certificate of authorization (COA). They are minted on special planchets and it takes longer to produce them. Proof coins are essentially coins that have more detail. The 2020 W 75th anniversary of the end of WWII silver eagles have a V75 privy mark on them to honor the anniversary. Burnished coins have a matte-like finish and they appear less shiny. The burnished silver eagles have a unique look to them. The mint mark, when present, can be found on the reverse side of the coin. The US minted the 2020 silver eagle with no mint mark and also the 2020 W burnished silver eagle, 2020 W 75th anniversary of the end of WWII proof silver eagle, 2020 W proof silver eagle, and 2020 S proof silver eagle. Keep reading to learn more about these coins.Ĭomposition: 99.9% silver Total Weight: 1 troy oz. The 2020 silver eagles have value as both numismatic coins and as silver bullion.
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