American Silver Eagles are the official silver bullion coin of the United States. These coins have been issued since 1986 and contain one ounce of silver. Both bullion versions and collectible versions have been offered by the United States Mint. In 2009 demand for silver bullion coins resulted in the cancellation of the collectible versions of the coins. Collectors wonder if the same thing might happen for 2010.

The bullion version of the coin is distributed by the United States Mint through their authorized purchaser network. These large scale buyers purchase the coins directly based on the price of silver plus a fixed mark up. The authorized purchasers distribute the coins to other bullion dealers and sell the coins to the public, and provide an outlet for resale.

The collectible version of the American Silver Eagle has been issued in two versions. The first is the proof version, which is struck multiple times from specially prepared dies. The coins display frosted raised elements over mirror like backgrounds to create a black and white cameo impact. The second collectible version is an uncirculated strike, which is produced on specially burnished blanks and contains the “W” mint mark.

Based on statements from the United States Mint, they are legally required to produce the bullion coins in quantities sufficient to meet public demand. There is no legal requirement to produce the coins for collectors. Based on their interpretation of the law, the US Mint sourced all incoming precious metals blanks to the production of bullion coins.

The United States Mint announced in October 2009 that they were officially canceling the 2009 Proof Silver Eagle and 2009 Uncirculated Silver Eagle. The reason cited was the often quoted sections of the law, which require the production of bullion coins in quantities to meet public demand. As consolation, the Mint stated that they hoped to resume production of collector coins in 2010 if they could increase the supply of precious metals blanks.

Recently, the American Silver Eagle bullion coins were suspended after the US Mint’s inventory became depleted. The coins were offered a week later, but under a rationing program. This program limits the number of coins that authorized purchasers can order. Since the US Mint is not fulfilling the full public demand the status of the 2010 collectible versions is one again in question.

Learn more about the American Silver Eagle. Keep up to date with the latest information about the status of the 2010 Silver Eagle.