It is authorized by Title II of Public Law 99-61 (Liberty Coin Act, approved July 9, 1985) and codified as 31 U.S.C. § 5112(e)-(h).

The obverse was slightly updated in 2021 (along with the reverse redesign) to feature a new rendering of Weinman's design and the addition of his artist mark under IN GOD WE TRUST.

But mining-state interests had opposed any sale, as had promilitary legislators who wanted assurances that the proceeds would be used to buy materials more urgently needed for the stockpile rather than merely to reduce the federal deficit.

"[8] Despite congressional opposition[9][10][11] to the sale of stockpiled silver through early June 1981, the House Armed Services Committee decided on June 10 to approve a Reagan administration request to sell government-owned silver beginning in fiscal year 1982 to help balance the federal budget.

As he had in the earlier bill, the senator asked, ... if we are forced to accept a sale, why use the method guaranteed to depress the price and dispose of the silver with the lowest possible return to the taxpayers[?]

[22] Secretary of the Treasury James A. Baker III presided over the striking ceremony held at the San Francisco Assay Office.

105, he turned to the audience and said, 'I don't need a pick and shovel to start the San Francisco Silver Rush of 1986.

In March 2011, the San Francisco Mint conducted trial strikes of bullion Silver Eagle coins in preparation for the resumption of full production later in the spring.

From 2006 to 2008 and beginning again in 2011, the United States Mint issued a collectible uncirculated Silver Eagle coin produced at West Point (bearing the "W" mintmark).

[50] As a result of the global recession, the demand from investors for bullion coins as a hedge against inflation and economic downturn surged.

[51] This increased demand began to affect the availability of American Silver Eagle bullion coins in February 2008 when sales to authorized dealers were suspended temporarily.

[51][52] In April 2008, the United States Mint began an allocation program, effectively rationing Silver Eagle bullion coins to authorized dealers on a weekly basis due to "unprecedented demand".

[55] The allocation program that had been put in place in March 2008 was lifted on June 15, 2009, leading to speculation that proof and uncirculated versions might be produced before the end of the year.

[60][61] On July 20, 2010, Mint Director Edmund C. Moy provided testimony to the House Subcommittee on Domestic Monetary Policy and Technology on the matter of proof and uncirculated Silver Eagle coins, referencing the possibility of a legislative solution.

Moy explained: ... [B]ecause we could not produce these popular coin products, those who had become accustomed to purchasing them on an annual basis were very disappointed.

As Director of the United States Mint, I appreciate the disappointment of these collectors, but I am encouraged to know that the Subcommittee is exploring the possibility of an amendment to the law that would afford the Secretary the authority to approve the minting and issuance of American Eagle Silver Proof and Uncirculated Coins even when we are unable to meet the public's demand for the bullion versions of these coins.

Indeed, such a change would be one of the most positive customer satisfaction measures that could be taken to benefit your coin collecting constituents without having an effect on American's [sic] ability to acquire investment-grade silver bullion.

We can mint 200,000 per month, and if we can begin by September, we will be able to produce about 830,000 one-ounce silver American Eagle coins to meet collector demand for this product in the remaining months of 2010.On September 22, 2010, Representative Melvin L. Watt (D-North Carolina) introduced the "Coin Modernization, Oversight, and Continuity Act of 2010" (H.R.

§ 5112 (e) and (i) by giving the Secretary of the Treasury authority to mint American Eagle silver and gold coins in "qualities [e.g. bullion, proof, or uncirculated] and quantities" sufficient to meet public demand.

[64] In January 2013, the Mint suspended sales of American Silver Eagle bullion coins after the first week due to high demand.

The Mint said its facility in West Point, New York, continued to produce coins and it resumed sales at the end of July 2015.

[67] On March 28, 2020, the West Point Mint, believed to be the only producer of bullion American Silver Eagles from 2018 up until early 2020, was shut down for cleaning after an employee tested positive for SARS-CoV-2.

[71] Sales of American Silver Eagle bullion coins began on November 24, 1986, and initial inventories sold out "immediately due to the phenomenal demand".

[82] Proof American Silver Eagle coins dated 1986 through 2008 were sold directly to the public by the United States Mint at a fixed price.

The coins were packaged in a protective plastic capsule mounted in a satin-lined, velvet-covered presentation case and accompanied by a certificate of authenticity.

[83] Proof Silver Eagle coins first became available through the United States Mint's subscription program in October 2002.

Mintages, and thus prices, of bullion, proof, and uncirculated Silver Eagle coins have varied widely, and the potential collector is advised to check a standard reference book before buying them.

Firstly, the coin possesses reeded edges, which are grooves along the perimeter, serving as a visual and tactile authentication measure.

This technique discourage attempts to steal metal from a coin through clipping or filling as it makes any tampering obvious.

Additionally, the use of advanced technology has resulted in intricate designs and high-definition details, such as the finely engraved inscriptions and the realistic rendering of the Walking Liberty image.