The 2011 Bullion Silver Eagle continues a long-standing series of coins authorized by Congress and produced by the United States Mint, which began in 1986. These bullion coins are made available for purchase through the Mint’s network of authorized dealers, starting in the early weeks of each year, and typically remain available for most of the year as they are produced to meet demand. The 2011 Silver Eagle was officially released by the Mint on January 3, 2011. This particular year set numerous records, including several monthly sales milestones, but the most significant achievement was the fact that the 2011 Silver Eagles reached the highest annual sales total by October.
The American Silver Eagles are composed of one ounce of 99.9% pure silver and are considered the official silver bullion coin of the United States. The U.S. government guarantees each coin’s weight, content, and purity, which, along with their availability, has made the Silver Eagle the most popular investment coin in the world. The coins were initially authorized by the Liberty Coin Act of 1985, and since then, they have been produced in large quantities each year to satisfy demand from investors who seek an easy and cost-effective way to add physical silver to their portfolios.
Although each Silver Eagle carries a legal tender face value of $1, its true worth is determined by the market value of the one ounce of silver it contains. This is why the Mint sells the coins through a network of authorized dealers. These dealers purchase the coins in bulk at the current market price of silver, plus a small premium to cover the Mint’s production and distribution costs. They then resell the coins to other dealers and the public, with prices reflecting the silver’s current market value.
The obverse of the Silver Eagle features the iconic “Walking Liberty” design by Adolph A. Weinman, which was first used on the half dollar coin in 1916. This design is widely regarded as one of the most beautiful ever to appear on a U.S. coin. The reverse of the coin shows a heraldic eagle with a shield, designed by U.S. Mint engraver John Mercanti. These designs have remained unchanged since the coin’s introduction in 1986, with the only modification being the year mark on the obverse.
In addition to the bullion versions, the U.S. Mint also produces Silver Eagles for collectors, typically in proof and uncirculated versions. These collector coins feature a mintmark, which distinguishes them from the bullion coins that do not have one.
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Here is a breakdown of the annual mintages of Bullion Silver Eagles since their introduction in 1986:
- 1986: 5,393,005
- 1987: 11,442,335
- 1988: 5,004,646
- 1989: 5,203,327
- 1990: 5,840,210
- 1991: 7,191,066
- 1992: 5,540,068
- 1993: 6,763,762
- 1994: 4,227,319
- 1995: 4,672,051
- 1996: 3,603,386
- 1997: 4,295,004
- 1998: 4,847,549
- 1999: 7,408,640
- 2000: 9,239,132
- 2001: 9,001,711
- 2002: 10,539,026
- 2003: 8,495,008
- 2004: 8,882,754
- 2005: 8,891,025
- 2006: 10,676,522
- 2007: 9,028,036
- 2008: 20,583,000
- 2009: 30,459,000
- 2010: 34,764,500
Since their debut, over 200 million Silver Eagles have been sold by the United States Mint, solidifying their place as the leading silver bullion coin in the world.