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<p>[QUOTE=&quot;bhp3rd, post: 507096, member: 16510&quot;]<b>Another reason they are not coins.</b></p><p><br /></p><p>I like the comments so far esp. the one where they are coins but they are really not coins - that&#039;s the way I think, good going!!!</p><p>Another reason or two:</p><p>They (Silver Eagles) Are not monetized, For a coin to be a circulating coin and have value it must be ordered by one of the 12 Fed Banks and payed for before it enters circulation. In other words, the way I understand it any coin that is stolen out of the mint before being paid for by the Fed as not been monetized and can be confiscated - this has happened many times with error coins being smuggled out of the mint. It actually should have been the case with the 1913 Liberty Nickels and many other but a digress.</p><p>Now proof and uncirculated coin sets are sold to the public for collecting but at least Unc. Silver Eagles were not sold directly to the public till a few years ago. They had to go thru. a middleman (silver broker) and then be sold to the public so the question begs to be answered, Has the mint left it up to a third party to help determine it&#039;s worth? When you order your silver eagle has not the middleman helped determine the coins worth so much above face values that it is almost ridiculous then to think the coin in reality represents the worth of 1 dollar by the U.S. Govt.? Perhaps some one else can clarify what I just said to make more sense but I may be on to something here at least I&#039;m challenging my little brain.</p><p>I&#039;m going to look up the Public law on American Silver eagles and get back with you on Monday.</p><p>So far I&#039;m yes, technically it&#039;s a coin but by most all other standards it is not a coin at all.</p><p>One more point - yes it may be worn out or damaged but a common dated silver eagle is worth about $10 and in mint state it&#039;s worth about thirteen or so but it is never worth $1 really to anybody practicably speaking - even the coin novice will turn it over not knowing what it is and see the one ounce silver and know it&#039;s worth more than what it says won&#039;t they?</p><p>So if a U.S. coin that is modern and is never worth what it says but is always worth more than what it says can that coin be a coin?</p><p>It&#039;s like, yes it&#039;s this but yes it&#039;s that but really it&#039;s a 1 ounce hunk of silver not ever a dollar in any practicable terms at all!</p><p>Keep thinking,</p><p>Ben Peters[/QUOTE]</p><p><br /></p>

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