Bullion coins are coins composed of almost pure gold or silver. Since 1986, the United States Mint has produced and sold a series of silver bullion coins, composed of 99.9 percent pure silver, through its American Eagle series. Since their inception, American Silver Eagle bullion coins have proven to be the best selling silver bullion coins in the world. Technically displaying a face value of one dollar, the price of these silver bullion coins is actually based on the market price of silver itself, plus a small premium that reflects minting and other costs. This means the price of silver bullion coins fluctuates daily as the price of silver rises and falls. American Silver Eagle bullion coins contain a minimum of one troy ounce of silver, plus a small amount of copper to increase durability. The Mint does not sell these coins directly to the public, but operates through a network of authorized distributors. The design of the Silver Eagles is based on the design for the Walking Liberty half dollar, designed by Adolph Weinman. The reverse shows an eagle with shield, olive, and arrows, designed by John Mercanti. Collectible proof versions of American Silver Eagles are also produced and sold directly to the public. Proof versions are minted at West Point and contain the "W" mintmark. The American Silver Eagle bullion coins are the only official investment grade silver bullion coins the US makes. One advantage of American Silver Eagles is that they are designed to be a relatively liquid way to invest in a precious metal. They can be bought and sold through coin or precious metals dealers, making them easily accessible to small investors.
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