1993 1 oz American Silver Eagle BU

Description

Coin Highlights: Contains 1 oz of fine silver. Multiples of 20 are packaged in mint issued tubes. All other Silver Eagle coins will come in protective packaging. Worldwide mintage of 6,763,762 coins. Eligible for Precious Metals IRAs. Obverse: Adolph A. Weinman’s design showing Lady Liberty draped in an American flag, walking gracefully as the sun rises over a ridge. Reverse: A heraldic eagle is shown below 13 small stars, representing the original colonies. Guaranteed and backed by the U.S. Mint. Protect your American Silver Eagle with this clear plastic capsule or display it in style by adding a jewelry bezel to your order. One of the most popular designs in American coinage, the Silver Eagle combines beauty with Silver bullion appeal. Add the 1993 Silver Eagle to your cart today!History of the American Silver Eagle Program The U.S. Mint attempted to establish selling Silver bullion in the 1970s and early 1980s to help reduce the Defense National Stockpile. The reasoning was that domestic needs exceeded that of strategic needs. Many refiners had actually opposed the plan due to concerns of diminishing the need of in-state mining and possible reduction of Silver spot at the time. Throughout the back-and-forth, the United States did end up selling-off large amounts of Silver (roughly 105 million troy ounces) but not as coin, as they had originally intended. When this happened, it did in fact cause the price of Silver to drop immediately. Many traders started unloading futures with the anticipation that price would fall, which it did. Over a span of several years and suspensions, it wasn’t until June 21, 1985, that the senate finally agreed to an amendment by a voice vote. The amended bill was signed by President Reagan on July 9, 1985. The bill, know as the “Liberty Coin Act” authorized the law of the American Silver Eagle program with an effective date of October 1, 1985, but came with stipulations that no coins may be struck or sold until September