By Charles Morgan and Hubert Walker for CoinWeek Notes …..
In 1997, the United States Mint introduced the American Platinum Eagle to its bullion coin roster. This addition marked a significant moment for the Mint as it expanded its offering of precious metals beyond gold and silver coins.
American Silver Eagle Program continued to produce both bullion coins for investors and Proof versions for collectors. The Proof 1997-P American Silver Eagle, with an average silver spot price of $4.90 per ounce, was available for collectors at $23 each.
Addition of 1997 American Eagle Impressions of Liberty Set
In addition to the standard issues, a special 1997-P American Silver Eagle Proof coin was included in the three-coin 1997 American Eagle Impressions of Liberty Proof set. This set featured one-ounce American Platinum and American Gold Eagles struck at the West Point Mint alongside the 1997-P American Silver Eagle. The set, limited to 5,000 pieces, was offered as a commemorative release to mark the debut of the new series.
Insight on Collecting and Investing in the 1997-P American Silver Eagle Proof Coin
When considering the value of the 1997-P American Silver Eagle Proof coin, collectors can find raw examples selling for around $70 on platforms like eBay. For those interested in graded coins, paying an additional $10 can get you a Proof 69 Deep Cameo/Ultra Cameo graded coin from a reputable grading service. It’s important to be cautious of claims about limited-edition labels and to focus on the coin’s quality and rarity instead.
While Proof 70 coins can fetch prices of $500 or more, recent auction data suggests that prices are fluctuating, with some coins being sold for around $300. Experienced collectors tend to pay higher prices on specific platforms like GreatCollections compared to mass-market venues.
Both NGC and PCGS have certified a significant number of coins as perfect 70s, with PCGS having a slight edge in the number graded. The market dynamics and collector preferences have resulted in changing ratios of 69s to 70s over the years, indicating shifts in demand and pricing trends.
Market Data and Noteworthy Specimens
Top Population Coins: PCGS PR70DCAM (3,156), NGC PF70UCAM (2,608), and CAC PR70DCAM (27).
- NGC PF70UCAM #6790739-026: Sold on eBay for $679 with Thomas J. Uram signature label.
- NGC PF70UCAM #4308515-005: Sold on eBay for $725.
- NGC PF70UCAM #8142837-003: Sold on eBay for $674.99 with Thomas J. Uram signature label.
- NGC PF70UCAM #4563984-025: Sold at Stack’s Bowers auction for $504.
- PCGS PR70DCAM #39870944: Sold at Stack’s Bowers auction for $312 with milk spots along the periphery.
Diving into Design and Specifications
Design Details:
The obverse of the coin features Adolph A. Weinman’s iconic Lady Liberty walking with laurel and oak branches, symbolizing America’s glories. The reverse showcases John Mercanti’s Heraldic Eagle with a ribbon stating “E PLURIBUS UNUM” and a constellation of stars above.
Coin Specifications:
| American Silver Eagle | |
| Year of Issue: | 1997 |
| Mintage: | 435,368 |
| Alloy: | 99.9% silver |
| Weight: | 31.1 g |
| Diameter: | 40.6 mm |
| Edge: | Reeded |
| OBV Designer: | Adolph A. Weinman |
| REV Designer: | John M. Mercanti |