The 1996 issue year of the Silver American Eagle is widely viewed as the low point in the program’s illustrious 30-year history. While Proof Silver American Eagle mintage hit a low point in 1994, it was in 1996 that the program saw its lowest ever numbers for the bullion version of the coin. Right now, the 1996-P Proof Silver American Eagle coin is available online from Silver.com in perfect condition.
- Just 1,665 coins earned this certification and feature this finish!
- 11th annual striking of the Proof Silver American Eagle!
- 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 PR70 from the Professional Coin Grading Service.
- Features a Deep-cameo finish.
- Walking Liberty on the obverse.
- The heraldic eagle of the US on the reverse.
- Includes the Philadelphia Mint’s “P” mint mark.
As the Silver American Eagle coin series pushed through the mid-1990s, the coin program saw its lowest point in demand to date, and what would become the lowest demand for the coins in program history.
Spot value of silver was steady throughout much of 1996, averaging roughly $5.20 per ounce, but ranging from a low of $4.71 to a high of $5.82 per ounce throughout the calendar year. A healthy American economy was to blame for the lower demand. Production of bullion coins this year was just 3.6 million, an all-time low.
The 1996 Proof Silver American Eagle hit a minor milestone for the year. The US Mint had first initiated maximum proof mintage levels in 1990, and by selling out all 500,000 coins struck in 1996, the US Mint sold out the entire allotment for the first time since maximums were introduced.
On the obverse of every Silver American Eagle is Adolph A. Weinman’s Walking Liberty image, originally featured on the Walking Liberty Half Dollar from 1916 to 1947. The reverse of each bears the heraldic eagle of the United States, which was refined for use on these coins by US Mint Chief Engraver John Mercanti.
Each proof coin in this listing has a perfect PR70 grade from the PCGS, indicating the presence of full, original mint luster and a complete lack of detracting flaws. The DCAM designation identifies the design set’s strong, frosted finish and the background field’s deeply-mirrored, clear background.
If you have questions, please reach out to Silver.com at 888-989-7223, chat with us live online, or email us. If you are interested in similar products, be sure to check out our full selection of Silver Coins.