After an uptick in production for the Silver American Eagle coins in 1993, the program sunk significantly in 1994. In fact, 1994 would be remembered forever in the program’s history, and not necessarily for good reasons. Right now, the 1994-P Proof Silver American Eagle Coin is available in perfect condition on Silver.com.
- There are just 561 coins with this condition and certification!
- Ninth consecutive release of the Silver American Eagle proof coin!
- Arrives in a protective plastic slab.
- Consists of one troy ounce of .999 fine silver.
- Bears a face value of $1 (USD) backed by the federal government.
- Issued a grade of PF70 by the Numismatic Guaranty Corporation.
- Includes a UCAM finish.
- Features the image of Walking Liberty.
- Heraldic eagle on the reverse.
- “P” mint mark from the Philadelphia Mint.
Silver American Eagle coins sunk across the board in mintage in 1994. The bullion version of the coin shed just over 2.5 million coins, falling from 6.76 million the year before to 4.22 million in 1994. This marked the second lowest bullion mintage ever for the Silver American Eagle coin.
The 1994-P Proof Silver American Eagle took the bigger hit however. Mintage fell a nominal amount, just under 30,000 coins, but at 372,168 coins in total, this marks the lowest-ever production of Proof Silver American Eagles in the program’s now 30-year history.
Each coin in this product listing earned a perfect PF70 grade from the NGC. Coins in this condition exhibit full, original mint luster and no detracting flaws. UCAM is a term that identifies a proof coin with a strong, frosted finish on the design set and a deeply-mirrored, clear background field.
The price of silver varied by almost $1 (USD) throughout the year in 1994. While the average was $5.28 per ounce, the price hit a high of $5.75 in March followed by a low of $4.78 at the end of the year in December.
On the obverse face of all Silver American Eagle coins is the image of Walking Liberty. Created in 1916 by Adolph A. Weinman, it originally appeared on the Walking Liberty Half Dollar through 1947. The reverse features a unique modernization of the heraldic eagle of the United States. Refined in 1986 specifically for the Silver Eagle, the work was done by then-Chief Engraver of the United States Mint, John Mercanti.
Please direct your questions to a Silver.com associate at 888-989-7223. You can also connect with us online using our live web chat and email service. Feel free to browse our website and check out other Proof Silver Eagles from other years.