In 1986 when President Ronald Reagan signed the Liberty Coin Act allowing everyday citizens to secure pure, legal-tender American silver dollars domestically, nobody could have foreseen how incredibly popular the American Silver Eagle would become. Since its inception in 1986, over 560 million Silver Eagle’s were struck. That’s well over a HALF A BILLION coins, making them without a doubt the most popular and widely collected US Mint series of modern times.
As expected, the new Silver Eagle coins appealed to investors thanks to their one troy ounce weight and 99.9% purity guaranteed by the U.S. Government. But the coins also proved to be a hit with collectors, who anxiously looked forward to adding each year’s release for their collections. That popularity was due in large part to the iconic design. But at the same time, that popularity was energized by the increased availability of proofs, enabled by technological advances at the mint that modernized and streamlined production. Collectors love proofs because of their relative scarcity compared to circulated and non-proof coins, and also because they’re the best of the best quality.
Struck for the first 35 years with John Mercanti’s Heraldic Eagle reverse design, these beautiful coins got a new design midway through last year in honor of the 35th anniversary. These 2022 Silver Eagles feature that new “Eagle Landing” design created by Artists Infusion Program (AIP) artist Emily Damstra, and engraved by recently retired U.S. Mint artist Michael Gaudioso, a classically trained sculptor, designer and painter. The new reverse design depicts an eagle about to land from a flight, grasping an oak branch between its claws. Additionally, thanks to technological advances, the iconic Adolph Weinman design on the front represents a closer representation of the artist’s original vision, and now includes his traditional initials artist’s mark beneath “In God We Trust.”
The extra time and effort required by the mint to produce proofs compared to regular coins is one of the big reasons there are far fewer proofs made each year than bullion coins. Actually, “far fewer” doesn’t really tell the story. On a good day, proof coins can be produced at a rate of 50 to 100 an hour. Bullion coins, on the other hand, can be produced at up to 750 coins per minute. Of the more than half a billion Silver Eagles that have been minted since the coin’s introduction in 1986, less than 25 million of those coins had proof finishes.
For any collectible item, collectors want the finest quality available. That’s why coin collectors covet proofs. Proofs and coins are graded on a 70-point scale, with a grade of 70 representing absolute perfection. These are the grades most sought-after by collectors.
The proofs here have been certified as flawless Proof-70 (PF70) by Numismatic Guaranty Company (NGC), or flawless Proof-70 (PR70) by Professional Coin Grading Service (PCGS), two of the top coin grading services in the world. There is no higher grade. Not only that but they’ve also been certified Ultra Cameo (UC) or Deep Cameo (DC), a designation given to coins that possess an intense frosted finish on both sides, with highly polished fields accenting the raised elements.
These Silver Eagle Proofs have not only earned perfect grades, they’ve also qualified for the desired First Day of Issue (FDI) pedigree. The FDI pedigree means these coins were received for grading within the first 24 hours of release from the mint. First Day of Issue proof coins are thought to have crisper strikes than those struck later because the dies are considered to be fresh with less mileage on them when the planchet is struck on the press, and because there are so few of them compared to the overall population.
Along with being the best of the best and the first of the best, each graded proof comes encapsulated with an exclusive Silver Eagles label with hand-signed signatures of five of the people that will go down in U.S. Mint history as having played critical roles in the design of the American Eagle Series: Michael Gaudioso, engraver of the new Type 2 Eagle Landing reverse and a man with more than 40 U.S. coin and medal designs on his resume; Emily Damstra, designer of the new Type 2 Eagle Landing reverse, who has a long list of coin design credits for both the U.S. Mint and the Royal Canadian Mint; the renowned John Mercanti, the 12th Chief Engraver of the U.S. Mint, designer/engraver of the original Type 1 Heraldic Eagle reverse, and a man who has produced more coin and medal designs than any employee in U.S. Mint history; David J. Ryder, the former 34th and 39th Director of the U.S. Mint, who has a long list of numismatic-related accomplishments during his tenure, and was instrumental in the transition to the Silver Eagle’s new reverse design last year; and Elizabeth Jones, 11th Chief Engraver of the U.S. Mint, who oversaw the launch of the Silver Eagle in 1986.
You’ll be glad to have these flawless, perfect, gorgeous proofs as part of your collection. Take a look for yourself and see why!