Ultimate Guide to the 1999 American Silver Eagle for Collectors

By Charles Morgan and Hubert Walker for CoinWeek Notes…..

The West Point Mint struck 7,408,640 American Silver Eagle bullion coins in 1999, marking the strongest showing for the United States Mint’s silver bullion program since its first full year of production in 1987. The market’s enthusiasm for precious metals coins was buoyed by more sophisticated national marketing approaches on the part of large-scale dealers and growing concerns about possible Y2K-related issues. Although fears associated with the Y2K phenomenon were mostly unfounded, the heightened awareness surrounding potential technological crises set the stage for a new era in American life following the turn of the century. This shift in societal attitudes and the subsequent evolution of technology contributed to a surge in bullion sales from 2000 onward.

What You Should Know About Silver Eagle Investing (But Don’t Read Anywhere Else)

It is common to see a trend in the certified American Silver Eagle market where Mint State 70 coins were once scarce but later became overvalued due to hype in the collector-investor community. Some coins that fetched prices upwards of $20,000 quickly lost three-quarters of their value in a span of ten years as the population of certified examples increased. This revelation is often omitted from existing literature on the subject. While there are significant discrepancies, popular books about American Silver Eagles provide limited or overly optimistic insights into the coin’s investment potential, without delving into the preceding years of market data that reflected a downturn.

Investors should note that although American Silver Eagles are widely collected and offer historical significance, they are not typically recommended as numismatic investment coins. Compared to other coins such as the Morgan Dollar, Large Cents, or early U.S. silver and gold coins, American Silver Eagles may not offer the same level of long-term investment return potential. The conditional rarity of these coins is transient, and their ultra-high market values are precarious. Any coin that starts at a relatively modest price but has the potential to magnify significantly in value when graded as “perfect” will inevitably see an increase in its certified population over time.

For instance, as of 2014, NGC had certified 78,266 1999 American Silver Eagles in MS69 and 109 in MS70. The sales of NGC MS70 coins had reached $23,000 at auction. On the other hand, PCGS had graded 4,859 coins in MS69 and none in MS70 due to a policy against grading MS70 Silver Eagles over concerns related to milk spotting. NGC saw an increase of 37,134 MS69 coins and 486 MS70 coins in subsequent years, while PCGS reversed its policy around 2016, certifying MS70s. PCGS MS70 coins from 1999 now sell for about $7,500, whereas NGC coins fetch approximately $5,000, a price that still remains high in the current market landscape.

Lance Armstrong Labels

PCGS has 207 MS69 American Silver Eagle coins signed by Lance Armstrong, although these are no longer listed in Coinfacts. The novelty label associated with Lance Armstrong, given the coin number #89947, is unrecognized on the site.

Market Data and Noteworthy Specimens

Top Population: PCGS MS70 (146, 6/2024), NGC MS70 (595, 6/2024), and CAC MS70 (3, 6/2024).

• NGC MS70 #4662670-006: A 1999 Silver Eagle coin graded MS70 by NGC sold at Stack’s Bowers auction for $4,560, with a signature insert by Mike Castle.
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Design

Obverse:

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Edge:

The edge of the 1999 American Silver Eagle bullion coin is reeded.

Coin Specifications

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