35th Anniversary of the Liberty Coin Act: The Birth of the American Silver Eagle
One of the most popular and well-regarded coins, the American Silver Eagle, only exists today thanks to the Liberty Coin Act, which was passed on this day in 1985.
The Statue of Liberty
In 1886, the Statue of Liberty was dedicated in New York. Designed by French sculptor Frédéric Auguste Bartholdi, the representation of Lady Liberty standing tall was a symbol of freedom to Americans and immigrants arriving at Ellis Island. The Statue of Liberty was a gift from the people of France to the people of America, and its completion marked New York City’s first ticker-tape parade.
Just a short 6 years after the Statue of Liberty was completed, the first Federal immigration station on Ellis Island was completed and accepted over 450,000 people in 1892. While waiting on the shores and on their boats, these immigrants looked up and saw the Statue of Liberty, holding her torch high.
About a century later, Congress was considering minting a coin to commemorate the iconic statue. The Statue of Liberty-Ellis Island Commemorative Coin Act authorized three coins to be minted: a half dollar, a silver dollar, and a gold half eagle.
Silver Stockpile
While the House of Representatives was considering the Statue of Liberty-Ellis Island Commemorative Coin Act, Senator James McClure proposed an amendment. Senator McClure had been seeking a way to sell excess silver bullion held by the National Defense Stockpile in a way that would benefit the American people. The Liberty Coin Act was added to the Statue of Liberty-Ellis Island Commemorative Coin Act, which President Ronald Reagan signed into law on July 9, 1985.
Designing an Icon
John Mercanti, who went on to become the 12th Chief Engraver of the US Mint, designed the American Silver Eagle. The obverse was based on Adolph Weinman’s Walking Liberty design. Using the top tools and computer programs of the time, Mercanti was able to enhance Weinman’s original design and include details never before seen. Americans were extremely familiar with the Walking Liberty half dollar, since it was minted for over 30 years and was symbolic of America’s hope for the future.
Due to the Mint Act of 1792, an eagle had to appear on the reverse of the coin. Mercanti chose to depict the great bird standing tall with wings outstretched, what would become known as the heraldic eagle. In front of the American eagle is a shield, modeled after the Great Seal of the United States.
For 34 years the American Silver Eagle has been minted using silver originating in the United States. The American Silver Eagle has truly surpassed the Morgan Dollar as America’s favorite silver dollar coin.
Rare Collectibles TV features stunning American Silver Eagles such as:
Set of 35: 1986-2020 Heraldic American Silver Eagles MS69
2020(P) American Silver Eagle Emergency Production First Day of Issue NGC MS70
Set of 15: 2001-2016-W West Point Mint American Silver Eagles PF70 UCAM Everest
2016-W American Silver Eagle PF70 UCAM W.P. Mint Hoard
