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History of the Silver Eagle Dollar
Rare 2008 American Eagle silver dollars discovered
Articles about Silver Eagles and Coins:
Types of Silver Eagles minted in 2008 : Other sites:
Where to buy 2008 American Silver Eagles
American Silver Eagle $ Mintages Mint Marks on Silver Eagle dollars
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Legal Tender Status of American Eagle Coins
What’s the scoop on the American Eagle Gold coins and 2008 Silver Eagle
coins?
American Eagle Silver Coins and Gold
Eagle coins are distributed through the United States mint. The
US Mint produces the common coins that we handle in change every day, as
well as collector and investor coins sold at premiums over their face
value. American Eagle coins
fall into this second category.
Covering their cost of production (and adding in a profit) the
USMint promotes eagle bullion coins to dealers and coin collectors. The
US mint sells them at a price set above the silver or gold that is in
the coin, which is also well above the coin’s denomination (or face
value). For example, 2008 American Silver Eagle dollars contain 1 troy ounce of silver. Each coin has a $1 face value and this is inscribed on the coin’s reverse. The mint offers silver eagle dollars for sale in quantity uncirculated bullion rolls (or tubes), and also individually as proof and mint uncirculated coins.
At the time of this writing silver
eagle 2008 $1 coin prices range from about $20 per coin to twice that,
depending on which type of silver eagle you purchase.
All American silver eagle dollars and gold eagle coins have a face value denomination on the coin’s reverse. Platinum Eagle coins are the same.
Since they don’t circulate and weren’t issued through banks, are silver eagle coins “legal tender” for all debts public and private, like paper money? According to research done by Numismatic News*, even though the face value is well below the market price of US eagle coins, these coins are ‘legal tender’ for all debts public and private. The legal tender value is the amount printed on the coin (not the metallic value). American Eagle coins are legal tender
In today’s market a person would be
considered foolish to spend a silver eagle dollar for its $1.00 face
value, although you could technically do so.
However, why spend a silver eagle dollar for $1.00 when you could
sell it for many times that for the silver that it contains?
*-
Reference: Numismatic News – coin magazine – September 30, 2008 issue.
Disclaimer: Articles on this page and website are the opinions of the respective writers, and do not necessarily reflect opinions or advice of 2008SilverEagle.com
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