American eagle silver dollars are the official silver bullion coins for the U.S. They were originally released in 1986 and are made of 99.9% pure silver. These coins have been minted in Philadelphia (designated by a P mintmark), San Francisco (designated by S mintmark) and West Point, NY (designated by W mintmark).

Design

The fronts of the American eagle silver dollars have the Walking Liberty design, created by Adolph A. Weinman, on them. The three inscriptions are the mint year, "In God We Trust" and "Liberty." The back of the silver eagle dollar contains an American Eagle holding a shield, as well as the inscriptions "United States of America," "E Pluribus Unum" and "1 oz. Fine Silver-One Dollar."

Mints

American eagle silver dollars can be bought as uncirculated, proof or reverse proof. An uncirculated silver eagle dollar can be purchased only from a few select places, including coin dealers and precious metal companies. The proof silver eagle dollar is of the highest quality available. These coins have excellent detail and aesthetics and are made for collectors (not general circulation). In 2006, silver American eagle coins were released as reverse proof and were available only in this year. Reverse proof coins are completed in the same way as a proof coin, but the raised images are mirror-like and the flat empty spaces around the images are frosty.

How to Tell If It's Real

Look for the following things in a silver eagle dollar to tell if it's real or not. First you need to check the year it was minted, which should be 1986 or after. American eagle silver dollars with a mint year before 1986 are fake, so pass on them. Weigh and measure coins before purchasing them. A genuine silver eagle dollar weighs exactly 31.103 grams and is exactly 40.66 mm in diameter. Look at the coin closely and verify that it is lustrous (not gray looking) and that it has reeding on the edges.

A couple of tests you can perform to help you determine if the silver eagle dollar is genuine are the drop test and the magnet test. For the drop test, drop the coin and listen to make sure you hear its distinctive ring instead of a dink sound. To perform the magnet test, hold a magnet up to the coin and verify that it isn't attracted. A true silver eagle dollar is not attracted to the magnet.

2006 Silver American Eagle Coins

In 2006, silver American eagle coins were released by the U.S. Mint as 20th anniversary sets. The sets included three coins: 2006-S proof, 2006-W uncirculated and 2006-P reverse proof. Only 250,000 sets of 2006 silver American eagle coins were produced. The uncirculated and proof coins could be obtained in other sets or even as singles, although the reverse proof 2006 silver American eagle could be purchased only as part of the sets released by the U.S. Mint. Make sure to obtain a certificate of authenticity if you decide to buy any of these 2006 anniversary coins.

Collecting Silver Eagle Dollar Coins

Whether you choose to collect American eagle silver dollars as a hobby or as a way to make money, be sure to properly take care of them. Store your coins in acid-free holders that don't use staples, as staples could damage the coin surface. The environment your American eagle silver dollars are stored in should be completely moisture-free.

Any 2006 silver American eagle coins should have come with a certificate of authenticity. Whether or not that's the case, you'll need to get all of your coins certified by a third party if you're planning on selling them. In many cases, certified American eagle silver dollars allow you to fetch a higher price. This is because the coin authenticity, grade and condition is confirmed by a professional. You can either take your American eagle silver dollars to a grading service or sign up for a membership, which allows you to send all of your coins to them at once.