Want to get your hands on a tangible piece of American history that shines brightly through time? In this article, we invite you along on a behind-the-scenes journey to see the process behind the creation of the American Silver Eagle coin. We’ll make stops at every step of production from sourcing the purest silver to the rigorous quality control measures that define this remarkable coin. Whether you are a collector, an investor, or simply enjoy the beauty of silver bullion coins, join us as we traverse the captivating path from mine to mint. Get ready to unlock the secrets behind this treasured piece of American heritage.

Interested in buying one of the brand new 2023 Silver Eagle coins? We have them available for purchase at Manhattan Gold & Silver for just $5 over the price of silver.

How It Came to Be: History of the American Silver Eagle Coin

The Liberty Coin Act was approved by the 99th US Congress in July of 1985. This came to fruition when the United States Mint began releasing Silver Eagle Coins in November 1986. The very first American Silver Eagle coin was struck on October 29, 1986 in San Francisco.

To truly appreciate the beauty and craftsmanship of the American Silver Eagle coin, we must delve into its main ingredient: the purest silver.

At the heart of the sourcing process lies a commitment to ensuring that only the highest quality silver is used. Meticulous attention is paid to the purity and integrity of the silver, with stringent measures in place to guarantee its authenticity. The U.S. Mint certifies the weight, quality, and purity of each 99.9% pure silver coin.

The Art of Minting: Transforming Precious Metal into a Masterpiece

The art of minting is a centuries-old craft that combines tradition, precision, and innovation to turn a mere disc of metal into a treasured keepsake. From the moment the silver arrives at the mint, it is handled with care and reverence.

First, the silver is carefully melted in a furnace, its temperature carefully controlled to ensure a uniform and precise consistency. Once molten, the liquid silver is poured into casts that give birth to blank planchets, the raw canvases awaiting their transformation. These blanks are then subjected to a meticulous pressing process, whereby they are transformed into perfectly round and smooth discs, ready to become American Silver Eagle coins.

A Design Loved by Coin Collectors and the Public

The front of Silver Eagle Coins features the “Walking Liberty” design which was originally used for the US Half Dollar Coin from 1916 to 1947. The popularity of this design made it a clear choice and so it was revived. The front of each silver coin has the year of issuance, as well as “LIBERTY” and “IN GOD WE TRUST.”

In 2021 to celebrate the 35th anniversary of the coin program, the back of the coin was updated with a new design which shows a bald eagle landing on a branch and features the phrases “UNITED STATES OF AMERICA,” “ONE DOLLAR,” “1 OZ FINE SILVER,” as well as “E PLURIBUS UNUM,” in smaller font. This design created by Emily Damstra and engraved by Michael Gaudioso is known as the Type 2 American Eagle Silver Coin design.

“My inspiration for this design grew from a desire to show our national bird,” Damstra said, “With all of the values it embodies—in a unique way that could also convey traits such as diligence, cooperation, care, and protection. For that reason, nest-building came to mind. I also liked the idea of including an oak branch in my design, since the oak is America’s national tree and a symbol of strength.”

The Type 1 American Silver Eagle design was produced from 1986-2021. The back of that coin features a design by John Mercanti, the 12th Chief Engraver of the US Mint. This design is reminiscent of the Great Seal of the United States. The eagle is behind a shield and holds an olive branch in its right talon while the left talon is grasping arrows. Above the eagle are thirteen stars to represent each of the original thirteen colonies. This design is inscribed with the following phrases “UNITED STATES OF AMERICA,” “1 OZ. FINE SILVER~ONE DOLLAR,” and “E PLURIBUS UNUM.”

Which Mint is the Silver Eagle Coin Produced At?

In a previous article, we went on a global tour of mints around the world. The American Silver Eagle coin has been produced at multiple locations of the US Mint. From 1986 to 2000 this bullion coin was produced at the San Francisco Mint. In 1999 and 2000, production shifted to the Philadelphia Mint and the West Point Mint. By 2018, production of the bullion Silver Eagle coins had moved solely to the West Point Mint.

However, in March 2020 the West Point mint was shut down due to an employee testing positive for COVID-19. Concerned about coin production following multiple closings, the US Mint had 240,000 Silver Eagle coins struck at the Philadelphia Mint. These uncirculated American Silver Eagle coins are identical to the ones produced at West Point but are known as Emergency Issues by coin collectors.

How to Add the American Silver Eagle Coin to Your Collection

Join the ranks of those who appreciate the artistry, value, and symbolism of the American Silver Eagle coin. Start your collection today with one of the 2023 Silver Eagle coins by contacting Manhattan Gold & Silver and let the elegance and history of these coins become a part of your own story.

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The LBMA sets standards for the makeup (purity and weight) for gold bars. A “standard” gold bar weighs approximately 400 troy ounces and has a minimum fineness of 995 parts per 1,000 pure gold (99.5% purity).

Understanding the LBMA Standard

Gold Bar Weight Specifications

The LBMA defines the standard weight of a gold bar within a range of 350 to 430 fine ounces, approximately 10.9 to 13.4 kilograms. Most bars align closely to 400 ounces. This range accounts for the slight variations that may occur during the casting or minting process, allowing for both practicality in manufacturing and consistency in trading.

Purity Requirements

To be classified as an LBMA Good Delivery bar, a gold bar must meet a minimum fineness of 995 parts per thousand, or 99.5% purity. This stringent purity requirement ensures that the bars are of high quality and that the gold content is almost entirely pure, with only a minimal presence of other metals or impurities.

Standard Gold Bar Appearance and Markings

The LBMA standard also stipulates specific requirements for the appearance and markings of gold bars. The bars must be free from surface cavities, irregularities, and excessive shrinkage, and they should be convenient to handle and stack.
Mandatory markings include the serial number, assay stamp of an acceptable refiner, fineness, and the year of manufacture. These markings must be stamped on the larger surface of the bar and serve as crucial indicators of the bar’s authenticity and compliance with the standards.

Evolution of Gold Bar Standards Over Time

Gold standards have a rich history that predates the LBMA. Since ancient times, gold has been used as a form of currency and stored value. The establishment of formal standards in the modern era, such as the Bretton Woods system in the mid-20th century, shaped the way gold was traded and valued. The LBMA’s standards represent a culmination of centuries of evolution, reflecting both historical practices and contemporary market needs.

Variations in Gold Bar Sizes

Good Delivery Bars

“Good Delivery Bars” as defined by the LBMA represent the benchmark in gold trading. These bars fall within a specific weight range, with a minimum gold content of 350 fine ounces (approximately 10.9 kilograms) and a maximum gold content of 430 fine ounces (approximately 13.4 kilograms). The gross weight must be expressed in multiples of 0.025 ounces troy, rounded down to the nearest 0.025. Adhering to the LBMA’s Good Delivery specifications ensures that these bars are accepted and traded seamlessly across international markets.

Kilobars, Tola Bars, and Others

Gold bars also come in various sizes to cater to different regional preferences and investment needs. Kilobars, weighing precisely 1 kilogram, are particularly prevalent in Asian markets.

Tola Bars, weighing 10 tolas (3.75 ounces or 116.64 grams), are commonly traded in India. These sizes often correspond to cultural traditions or specific trading practices within those regions.

The availability of gold bars in different sizes such as Kilobars and Tola Bars plays a vital role in making gold investment accessible to a broader range of investors. Smaller bars offer a more affordable entry point, allowing individual investors to partake in gold ownership. This diversification in size helps democratize gold investment, making it an option not just for large institutions but also for individuals and smaller businesses.

Custom Gold Bar Sizes

Beyond standard and region-specific sizes, custom gold bars are also available for those with unique requirements. Some private mints and refineries offer custom-sized bars, which can range widely in weight and dimensions. These are tailored to specific needs, whether for unique investment strategies, commemorative purposes, or specialized industrial applications.

Custom-sized gold bars offer flexibility but come with specific considerations. Their unique size may make them less liquid in standard markets, potentially affecting resale value. Additionally, custom sizes might require more stringent verification of authenticity and purity. However, they can serve unique purposes, such as creating exclusive collectors’ items or fulfilling specific industrial needs, where standard sizes may not be appropriate.

Gold Bar Casting and Minting Processes

Production of gold bars in various sizes requires meticulous precision and technique. Two primary methods are employed: casting and minting.

Casting is typically used for creating larger gold bars. In this process, molten gold is poured into pre-shaped molds and allowed to cool and solidify. The molds are designed to the exact dimensions required for the specific bar size, whether it be the standard LBMA size or a custom one.

Minting, on the other hand, is generally used for smaller gold bars and coins. It involves cutting gold blanks from rolled gold sheets and then striking them with dies to imprint designs and markings. The precise engineering of the dies ensures that each piece conforms to the required size and weight.

Both casting and minting require expert craftsmanship, rigorous quality control, and attention to detail to ensure that each gold bar meets the necessary specifications.

Over the years, technological advancements have significantly enhanced the gold bar manufacturing process. Modern machinery has introduced greater automation, allowing for increased efficiency and consistency in producing gold bars of various sizes. Innovations in casting technology, such as vacuum casting, have improved the quality of the cast bars, reducing imperfections and enhancing purity.

Advanced assay techniques, employing methods like X-ray fluorescence (XRF) testing and inductively coupled plasma mass spectrometry (ICP-MS), have made purity verification more accurate and rapid. These technological improvements not only increase production capacity but also elevate the quality and reliability of gold bars.

Famous Gold Bars and Finds

Gold bars have played a remarkable role throughout history, often becoming symbols of wealth, power, and discovery. Some bars are notable for their unique characteristics, while others are renowned for their historical significance. Here, we will explore a few examples that have captured the imagination and shed light on the fascinating world of gold.

Notable examples of unique or historically significant gold bars:

The Hand of Faith

Discovered by a hobbyist prospector in Australia in 1980, the Hand of Faith is one of the most famous gold nuggets rather than a refined gold bar. Weighing an astounding 27.2 kilograms, its unique, hand-like shape makes it a marvel among gold finds.

The SS Central America’s Gold Bars

The SS Central America, a steamship that sank in 1857, carried an extraordinary treasure, including thousands of gold bars and coins minted during the California Gold Rush. In 1988, the shipwreck was discovered, and the gold was salvaged in an underwater excavation. These gold bars became a tangible connection to a defining era in American history and offered insights into the practices and standards of mid-19th-century gold assaying and minting.

Nazi Gold Bars

During World War II, the Nazis amassed vast quantities of looted gold, including uniquely stamped bars. Some of these gold bars have been discovered in odd places, including a lake in Austria, where they were hidden towards the end of the war.

Royal Canadian Mint’s Million-Dollar Coin

While not a bar, this unique creation deserves mention for its sheer size and artistry. In 2007, the Royal Canadian Mint produced a 100-kilogram gold coin with a purity of 99.999%, setting a Guinness World Record. It was initially conceived as a unique showpiece but was later offered for sale to investors and collectors. Its combination of craftsmanship and sheer value places it among the most remarkable gold objects ever created.

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In this article, we will dive deeper into the aspects and appeal of bullion that continue to fascinate collectors and investors.

Understanding Bullion

As we mentioned, bullion is primarily the bulk form of precious metals, valued by weight rather than face value. While governments can mint coins, assigning them a numerical face value, any company can produce bullion ingots or medallions. The face value of coins, such as Canada’s $50 coin—worth approximately $1,950 by weight—is often symbolic and used for marketing. This distinction between face value and actual weight value has made gold coins and other precious metal coins sought after by collectors, as their worth fluctuates with the market price of the underlying metal.

RELATED: Investing in Gold Bullion vs. Paper Gold

Types of Bullion

Bullion is not limited to just gold. Other precious metals like silver, platinum, and palladium are also cast into bullion forms. These metals have distinct properties, making them valuable for various industrial applications, as well as investment.

Silver bullion, for instance, is popular for its affordability and potential for growth, while platinum and palladium are prized for their rarity.

Different forms of bullion, such as bars, rounds, and coins, cater to diverse preferences and investment strategies. While bars might be preferred by large-scale investors for their efficiency in storage, coins offer aesthetic appeal and historical significance. Understanding the various types of bullion helps investors and collectors make informed choices to suit their unique needs and interests.

Investing in Bullion

Investing in bullion can be a sound financial strategy, offering a hedge against inflation and economic uncertainty. Unlike stocks or bonds, bullion provides a tangible asset that has intrinsic value. Its price is driven by supply and demand fundamentals, often moving inversely to traditional financial markets.

Bullion investments can be made through physical ownership or financial products like exchange-traded funds (ETFs) backed by precious metals. Physical bullion offers the satisfaction of holding a tangible asset, while financial products provide liquidity and ease of trading.

Both approaches have their merits and risks, and prospective investors should consult with financial professionals to align their investment in bullion with their overall financial goals.

RELATED: Read Our Beginner’s Guide to Precious Metals Investing

Collecting Bullion Coins

Collecting bullion coins goes beyond investment; it’s a passion and art form for many. These coins often feature intricate designs, historical motifs, and cultural significance. Collecting bullion coins can be an enjoyable hobby and a way to preserve history.

Some collectors focus on historical coins, while others seek limited edition releases from renowned mints. The thrill of discovery, the joy of ownership, and the potential for appreciation make collecting bullion coins a multifaceted and rewarding pursuit. Collaborating with reputable dealers, joining collector communities, and staying informed about market trends can enhance an aspiring collector’s experience.

Sell Your Bullion to Manhattan Gold & Silver

Have bullion you’d be interested in selling? Visit us in person, ship your lot, or get in contact with us for more information.

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But first, a disclaimer: Please don’t take anything here as financial advice. We’re not your financial adviser. Investing is a personal thing, and the best strategy will depend on your individual circumstances and goals. Always seek personalized investment advice from a qualified professional. What we’ve written here is just for informational purposes.

As you’d expect, there are pros and cons to both forms of gold investment. So, we’ve listed some of the advantages of each one to help you better understand the gold bullion versus paper gold debate and get an idea which side you might come down on. Of course, you can always invest in both.

What Is Gold Bullion?

“Bullion” is a form of a metal that’s been refined to a high level of elemental purity. Gold bullion is physical gold—real, tangible gold—and it generally comes in two forms for investors: gold bars and gold coins.

What Is Paper Gold?

Paper gold refers to investment in the gold market without possessing physical gold. This includes investment vehicles like many exchange traded funds (ETFs), gold futures, gold options, and others. It’s an on-paper asset that typically derives its value from the price of gold.

Gold Bullion Versus Paper Gold: Advantages of Holding Physical Gold

Physical gold, or gold bullion:

• Has intrinsic value, unlike paper gold
• Has been accepted as a form of currency throughout history, around the globe, and across cultures
• Is scarce and can’t be replicated
• Is simpler than dealing with paper assets
• Isn’t subject to broker fees, account management fees, etc. like paper investments
• Isn’t vulnerable to mismanagement by third parties like paper assets
• Is easier than paper gold to give as a gift or pass on to an heir
• Diversifies your investment portfolio beyond paper assets
• Can be used as collateral
• Has actual demand for use (e.g., jewelry, decorative pieces, dental fillings, computer and other electronics manufacturing, medals, and more)
• Isn’t part of a country’s financial system (even though gold coins and bars are often minted by government-owned mints), so it’s not vulnerable to the volatility of national financial systems; paper gold is often more vulnerable to volatility resulting from geopolitical issues

Gold Bullion Versus Paper Gold: Advantages of Holding Paper Gold

Paper gold:

• Doesn’t require secure storage (either at home, or at a bank or other facility that will charge a monthly storage fee and likely require insurance)
• Can’t be stolen like physical gold
• Doesn’t take up any space or have to be moved
• Requires less upfront capital because you can generally buy smaller amounts
• Is also more affordable up front because physical gold dealers usually charge significant premiums/fees
• Is a highly liquid investment vehicle that’s easily traded while the market is open
• Isn’t vulnerable to the possibility of a government forbidding the possession of physical gold (it even happened in the U.S., when President Franklin D. Roosevelt signed Executive Order 6102 in 1933, and it held until President Gerald Ford repealed it in 1974)

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Today, we’ll discuss whether it is best to buy silver coins or bars should you decide to invest. To start, we’ll explain what these forms of bullion are and how they differ.

The Difference Between Silver Bars & Coins

You might think the only difference between silver coins and bars is their appearance, but you’d be mistaken. Coins and bars are not only different in their physical shape, but their purpose is also unique.

Coins are legal-tender money. On the other hand, bars are manufactured solely for their merits as bullion. The government does not legally classify bars as currency.

Advantages of Silver Coins

Coins have several advantages over bars:

1. Coins are legal tender and come with a guarantee of quality from the government, which means they have more recognition in the market. This makes them easy to liquidate.
2. Coins are much easier to “barter” or trade-off during a crisis than bars, according to silver expert David Morgan.

Another potential advantage is that some coins that are considered numismatic may be worth more than their precious metal content. To find out why let’s quickly go over the difference between numismatic and bullion coins.

Numismatic Coins Vs. Bullion Coins

Bullion Coins

Bullion coins are purchased mainly as an investment and are manufactured year-to-year. They are considered to be a form of currency, an asset with a defined value that remains consistent for the most part. Examples of coins in this category include:

• S. Gold Eagles
• S. Silver Eagles
• Canadian Silver Maples
• South African Krugerrands
• 90% Junk Silver (pre-1965 quarters, dimes, half-dollars, etc.)

Numismatic Coins

Rare or collectible coins are known as numismatic coins. Unlike bullion coins, the value of a numismatic coin is influenced greatly by its rarity and condition, not just its precious metal content. If a numismatic coin is rare and in great condition, it can often trade over the spot price of the precious metal it contains.

For example, a silver numismatic coin might have the same amount of precious metal content as a silver bullion coin, but its collectible value may allow it to sell at a higher price.

Examples of numismatic coins include:

• Peace Silver Dollars
• British Sovereigns
• Swiss 20 Francs
• Pre-1933 $20, $10 Eagle coins

However, before buying a numismatic coin as an investment, consider what precious metals broker Don Stott once said, “Even though there are those who use numismatic coins as a store of wealth, their value is not always associated with the bullion spot price. Only the most experienced collectors are successful at employing this tactic.”

One potential disadvantage to note is that coins often come with a higher premium than bars.

Pros and Cons of Silver Bars

Bars come with two key benefits:

1. Bullion bars are compact, stackable, and easy to store.
2. Bars have the lowest premium over spot price.

Although bars may have the best value, a disadvantage could be that they are harder to liquidate than coins.

The Right Choice Varies

Whether or not silver coins or bars are better depends on who you are as an investor. Smaller investors may have more use for collectible, legal tender assets like coins while large investors might not need collectible assets – they need silver that can be purchased at a lower premium over the spot price.

Regardless of whether you’ll be buying silver bars or coins, it’s important to buy your assets from a trusted supplier. Consider using a reputable precious metals refiner like Manhattan Gold & Silver that sells bullion at fair prices and offers storage solutions to keep your investments safe.

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We understand how stressful it can be to deal with precious metal items inherited through an estate. Estimating the value of each item and finding buyers who will pay fairly for them can easily start to feel like a full-time job. When it comes to selling precious metals, honesty and integrity are at a premium. There is constant demand for precious metals–so how do you choose a buyer you can trust?

When it comes to buying estate pieces like bullion bars, coins, and jewelry, Manhattan Gold & Silver proudly stands apart from estate liquidators and other precious metal buyers. During our 30+ years in business, our one-on-one customer service and flexibility in handling lots of any size has built a substantial base of clients who keep coming back for our fast and fair transactions. No matter what types of precious metal items you need to sell, we offer each of our clients the following:

Experience you can trust – MGS has been family-owned and operated since 1985

Maximum melt value – Generally, most consumer scrap jewelry sells for 70-80% of the melt value for their precious metal content. At MGS, we’re proud to pay our clients 98-99% of their precious metal’s melt value as set daily by the London Fixing.

Transparency – Customers can watch their precious metal scrap go through the entire process of being weighed, melted, and tested

Customer Service – We maintain an A+ rating from the Better Business Bureau

Speed – most transactions (even those from large estates) are processed and paid out the same day

Full Service – We also sell bullion for those who want to re-invest a portion of their payout

Flexibility – No lot is too large or too small. We buy almost everything containing gold, platinum, palladium, and silver (except for electronic devices and alluvial material). Some examples of items we accept from estate sales include:

• Bullion bars and coins
• Watches, chains, and jewelry–in ANY condition
• Silver flatware
• Sculptures, metalwork, and more

If you’re not sure of the precious metal content of items you have, we can find out for you! MGS has more than 30 years of experience testing items for precious metal content and purity. We also offer ultrasonic testing, which is prefect for authenticating bullion and coins. The testimonials from our customers speak volumes, but allow us to prove it to you. Contact us today to learn how we can assist you with estate liquidation.

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An ETF is a type of investment fund that works similarly to stock in public companies. In a gold ETF, shares of the fund are backed by a stockpile of physical bullion, and the fund’s share price directly correlates with gold’s market performance. When the price of gold goes up, the value of the ETF’s shares does too.

A common misconception is that investing in gold ETFs is just like investing in physical bullion but with extra steps. However, that’s not technically accurate. Most ETFs were never intended to work as a substitute for physical gold ownership. Investors own shares in the fund – the fund and its administrators own the bullion. So, you can’t access the gold your shares represent. A small number of gold ETFs allow investors to take delivery of physical bullion in exchange for shares, but only if the investor meets certain requirements – such as owning a minimum number of shares or paying additional fees. This investment structure also exposes ETFs shares to different risks that don’t apply to direct ownership of physical gold, like custodial fraud, fund mismanagement, or bank system failures.

None of this is to say bullion-backed ETFs are bad – they just work differently than physical bullion. Depending on the investor, gold ETFs can be a low-cost way to invest in the direction of the gold market that’s more convenient to own and acquire than bullion. It all depends on the circumstances and goals of individual investors.

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For bullion products, the terms “sovereign” and “private” refer to the affiliation of the minting authority issuing the bullion. Sovereign bullion is issued by a government, usually via the country’s national mint. Unlike sovereign bullion, private bullion is minted by a private company and not backed by any government.

So in terms of precious metal content and intrinsic value, private and sovereign bullion are the same. However, there are key differences between the two – starting with the purchasing process. Sovereign bullion coins and bars are designated as legal tender that is guaranteed by the issuing government. This assurance improves liquidity, but carries an increased cost in the form of seigniorage fees. Plus, sovereign bullion features limited-run designs and serial numbers that add to the bullion’s collectability, which subsequently adds to its price via demand.

Private bullion does not carry these value-added costs, so it’s almost always cheaper to acquire. Some buyers prefer the security and peace of mind of buying bullion backed by a major government. Other’s – mindful of geopolitical risk and historical precedent (e.g. the Gold Reserve Act of 1934) – actually prefer the opposite.

Ultimately, each investor must decide whether sovereign or private bullion aligns with their investment philosophy and strategy best. Here at MGS, we sell both government-issued coins and private-issued bars from LBMA-verified mints, like Valcambi and PAMP Suisse. For help finding bullion products that match your investing preferences, contact us today!

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The bars we make from all the precious metals we buy are made using the pouring method. You can watch each step in this process on our YouTube channel. To make poured ingots, gold from a variety of sources is mixed together, melted, and refined of impurities before being poured into a mold or cast where it cools into a solid ingot. The process gives every poured bar its own unique surface texture – which is preserved through minimal polishing and post-processing. This “natural” or “raw” looking aesthetic makes poured gold bars appealing to some investors and collectors.

Pressed bars are made from a single source of gold, such as a large poured ingot. The source gold is extruded to a specified thickness, then cut into individual bars that are pressed with a die to emboss the weight, purity, and source. The pressed bars are then polished to a glossy finish before being packaged for sale.

From a manufacturing standpoint, pressing is the less resource intensive process that provides refineries with more control over quality and uniformity. But when making large gold ingots (i.e. greater than 100 oz), pouring is much more efficient. If you compared gold ingots to cookies, then the pouring method is like making one big cookie from scratch and the pressing method is like buying a tube of cookie dough and slicing off the number of cookies you want to make.

You can find examples of poured and pressed gold ingots in our bullion store. All of our variable weight bars are poured ingots and all fixed weight bars are pressed ingots.

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One of the common questions first-time investors ask when they see all of the ingots, bars, coins, grains, rounds, and other types of bullion available is “what’s the difference?” Since the inherent value is the same, there is no strategic advantage to owning, say, coins instead of bars. But, there are some reasons why investors may prefer one form factor over others.

For example, bullion coins’ smaller sizes and difficult-to-counterfeit designs give them better liquidity compared to ingots, bars, or rounds. However, seigniorage fees typically push the cost of bullion coins over the spot price for their metal content. So if you can afford to purchase more metal at once, and you have a secure space to store that amount, you’d save some money upfront by purchasing bars instead of coins.

In the infographic above, we’ve outlined the key differentiators for the most popular bullion products: bars, coins, and fractional.

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