Difference Between Silver Eagle Bullion And Uncirc Coin?

None, I think. ASE's are minted in uncirculated (bullion) and proof versions. Somebody may correct me if I'm wrong.

It has to do with the terminology the mint uses. They call proof coins proofs. They non-proof coins that are made for sets or to be sold to collectors "uncirculated" They call coins made for everyday use "circulated coins" (past tense for some reason) Non-proof ASE made to be sold to the distributors are called "bullion" coins. SO the difference between the "uncirculated" ASE, and the "bullion" ASE is the W mintmark on the "uncirculated" ones.

West Point mintmark, price, and availability. Silver bullion Eagles have been minted since 1986 and carry no mintmark. They have been minted at various locations and are currently minted at West Point sans mintmark. The uncirculated(burnished finish) Eagle is a collectors version of the Silver Eagle that was minted 2006-08, it had a price point between that of the proof and bullion versions. It has not been minted since 2008 due to planchet shortages. The Mint may very well have killed this program but so far, refuses to acknowledge it.

Since the beginning of the Eagle program, bullion versions have only been available through the Mint's Authorized Purchaser network who then make the coins available through the dealer chain. There are only a few APs because they have to enter into multi-million dollar contracts with the Mint to purchase Eagles. The bullion version typically tracks silver spot price plus a couple dollars with a few exceptions(1996 is the key date with 1986 and a couple others commanding modest premiums due to lower than average mintage). The bullion program has been going nuts the past couple years with almost 30 million minted last year and over 32 million this year. The uncirculated Eagles were available for purchase directly from the Mint.