By Charles Morgan and Hubert Walker for CoinWeek Notes . . . .
The United States Mint set the production limit for the 1996-P American Silver Eagle Proof at 500,000 pieces, and it sold through that number. Although the mintage was lower than in several of the preceding years, it was the first time that the Mint sold through its preset product limit. The retail price remained the same at $23, a figure that seemed low at the time given the relatively low price of silver during the period.
In 1993, Proof production for the American Silver Eagle shifted from San Francisco to Philadelphia before moving to the West Point Mint in 2001, which became the regular producer of American Silver Eagle Proofs. This transition in production sites impacted the availability and collectability of these coins over the years.
Understanding the Value of the 1996-P American Silver Eagle Proof
Raw 1996-P American Silver Eagle Proof coins can be found selling for around $70 on platforms such as eBay. In the secondary market, these coins typically fetch a similar price range. However, coin dealers may pay slightly less to purchase these coins from collectors, closely tied to the prevailing spot price of silver at the time.
When it comes to certified coins, grades such as Proof 69 and Proof 70 with Deep Cameo/Ultra Cameo are most common for the 1996-P American Silver Eagle Proof. While the price difference between a raw coin and a certified example in the 69 grade is minimal, significant premiums of $200 or more are seen for coins graded Proof 70. It is worth noting that the market for these coins has evolved over the years, with a notable increase in the population of Proof 70 coins leading to a decrease in their value.
Market Data and Unique Specimens
Top Population: PCGS PR70DCAM (3,871, 6/2024), NGC PF70UCAM (3,076, 6/2024), and CAC PR70DCAM (36, 6/2024).
- PCGS PR70DCAM #46588550: eBay, June 22, 2024 – $216.50.
- PCGS PR70DCAM #41781135: eBay, June 15, 2024 – $450. Eagle novelty insert label.
- PCGS PR70DCAM #49553922: eBay, June 2, 2024 – $229.50.
- NGC PF70UCAM #4654048-036: Stack’s Bowers, April 3, 2024, Lot 13536 – $216.
- PCGS PR70DCAM #18607641: Stack’s Bowers, March 13, 2024, Lot 92595 – $312.
- PCGS PR70DCAM #82118076: Stack’s Bowers, November 15, 2022, Lot 91246 – $264.
Design Highlights
Obverse:
The obverse features Adolph A. Weinman’s depiction of Lady Liberty, which bears a striking resemblance to sculptor Oscar Roty’s work. The design showcases Liberty walking confidently towards the rising sun, holding laurel and oak branches, symbolizing American glory. The obverse also includes inscriptions of “LIBERTY,” “IN GOD WE TRUST,” and the date “1996.”
Reverse:
The reverse displays the Heraldic Eagle designed by John Mercanti, with a constellation of 13 stars above its head and the motto “E PLURIBUS UNUM.” The edge of the coin is reeded, adding a classic touch to the design.
Coin Specifications
| American Silver Eagle | |
| Year of Issue: | 1996 |
| Mintage: | 500,000 |
| Alloy: | 99.9% silver |
| Weight: | 31.1 g |
| Diameter: | 40.6 mm |
| Edge: | Reeded |
| OBV Designer: | Adolph A. Weinman |
| REV Designer: | John M. Mercanti |
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