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HomeUS Coins1995 American Silver Eagle : A Collector's Guide

1995 American Silver Eagle : A Collector’s Guide

1995 American Silver Eagle. Image: Stack's Bowers / CoinWeek.
1995 American Silver Eagle. Image: Stack’s Bowers / CoinWeek.

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

1995 proved to be a ho-hum year for American Silver Eagle bullion coin production. After the wave election of 1994 that ushered in a GOP majority in the House of Representatives for the first time since 1952 and control of the Senate, investors saw more opportunities in the stock market than in the bullion sector. As a result, silver prices flatlined throughout most of the year, averaging just $5.20 an ounce ($10.85 adjusted for inflation).

The 1995 American Silver Eagle bullion version is in the middle of a three-year run of low-mintage releases. In 1994, the United States Mint produced a then-record low 4,227,319 bullion strike coins, which was followed by 4,672,051 in 1995. Lower than both was the record-low mintage of 3,603,386 coins in 1996. Of the three dates, only the 1996 sells for a significant premium in its raw form. The 1995 sells for prices on par with issues from other 20th-century U.S. coin series.

A Turning Point in the Market

Through 2014, only NGC had certified any 1995 American Silver Eagle in the grade of MS70. PCGS had encapsulated more than 5,300 coins, but none graded higher than MS69. The service had concerns regarding the milk spotting issue and chose to discontinue the certification of “perfect” coins to protect itself against the liability of having to buy back coins that turned in their holders.

In 2015, this all changed.

NGC continued to grade coins in MS69 and MS70 and received most of all submissions. By the end of the year, the service had certified more than 530 MS70s. PCGS, on the other hand, received far fewer coins but finally broke ground and certified two dozen MS70 coins. Twelve of these coins came from a 915-coin order (cert. numbers 32890403 through 32891318) and six of those were sold in short order at GreatCollections, starting on August 30, 2015, and then selling roughly one every other week. These early sales yielded high prices for the seller.

The following table breaks it down:

First PCGS MS70 1995 American Silver Eagles sold at GreatCollections

Naturally, as the PCGS pops increased, the prices of their MS70s declined.

In the years since, NGC continues to receive the majority of all submissions for American Silver Eagles and has certified nearly 29,000 additional MS69 coins–along with 707 new MS70s, for a 69:70 ratio of 17.78:1. Meanwhile, PCGS has certified more than 4,200 MS69s since 2015 and 237 new 70s, for a ratio of 17.89:1. CAC began to accept American Silver Eagle submissions in 2023 when it launched its full-service grading company; it reports a small population of 27 MS70s at the time of writing in June 2024.

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Market Data and Noteworthy Specimens

Top PopulationPCGS MS70 (260, 6/2024), NGC MS70 (1,245, 6/2024), and CAC MS70 (27, 6/2024).

  • PCGS MS70 #47438752: Stack’s Bowers, April 3, 2024, Lot 13533 – $1,020.
  • NGC MS70 #4434872-035: Stack’s Bowers, April 3, 2024, Lot 13534 – $840.
  • PCGS MS70 #46403892: Stack’s Bowers, December 13, 2023, Lot 98736 – $1,050; Stack’s Bowers, February 7, 2024, Lot 93601 – $1,140.
  • PCGS MS70 #47946624: Stack’s Bowers, December 13, 2023, Lot 98735 – $1,050.
  • NGC MS70 #4267833-007: Heritage Auctions, January 9, 2023, Lot 51067 – $2,040.
  • PCGS MS70 #38082000: Heritage Auctions, March 13, 2023, Lot 51277 – $1,800.

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Artist Adolph A. Weinman’s figure of Lady Liberty is depicted mid-stride. She is seen as a full-body figure, dressed in a flowing gown, and draped with a large billowing American flag. She holds laurel and oak branches in her left hand that symbolize the civil and military glories of America, respectively. As Liberty strides confidently towards the rising sun, she reaches out and presents a welcoming and open hand. So large is Lady Liberty that she is superimposed over the obverse legend LIBERTY ringing the obverse – in fact, she obscures half of the “BE” and almost the entire “R”. Above Liberty’s outstretched rear foot is the motto IN GOD WE TRUST, and below her is the date 1995.

The design bears a notable resemblance to sculptor Oscar Roty’s The Sower, a common image on French coins. Numismatist Roger Burdette posited in his book Renaissance of American Coinage (2007) that this was not a coincidence and while Adolph Weinman did not directly copy, he did derive significant inspiration from Roty’s work. Weinman’s Liberty Walking design quickly became one of America’s most iconic numismatic images. It would be used with minor modifications on the American Silver Eagle bullion coin starting in 1986.


United States Mint Chief Engraver John Mercanti’s Heraldic Eagle is positioned at the center of the reverse. Clutched in its beak is a ribbon bearing the motto E PLURIBUS UNUM. Above its head is a constellation of 13 stars configured in an upside-down pyramid formation. The legend (top) UNITED STATES OF AMERICA is wrapped around the design and the fineness and denomination (bottom) 1 OZ. FINE SILVER. ONE DOLLAR.


The edge of the 1995 American Silver Eagle bullion coin is reeded.

Coin Specifications

American Silver Eagle Bullion Coin
Year of Issue: 1995
Mintage: 4,672,051
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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CoinWeek Notes
CoinWeek Notes
CoinWeek Notes presents expert analysis and insights from Charles Morgan and Hubert Walker, the award-winning editors of CoinWeek.com.

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  1. Well, the old saying goes when you repeat a lie over and over again people will believe it. Forbes magazine reports that when a Democrat is in the WHITE HOUSE. The stock market rises on average 9% per year. Republican in office, 7.4%. Don’t let facts get in the way. Regarding PCGS and not grading any silver eagles at ms70 due to possible spotting, which is a joke. As a valuation expert that I am. Your value represents today’s condition, quality, etc. You’re NOT putting a value on a future condition because that is speculation, and NO-ONE can predict the future! Clearly PCGS dropped the ball. Collectors are paying the price. Now looking, back, I would buy as many of those ms69 coins that are under graded. AI is coming. Real SOON!! this will take the bias out of grading.

  2. Jerry….the problem is that the data you cite suffers from statistical bias and misplaced facts.

    The decline in the stock market from 1929-32 skews the data alone. Also, many of those great Democratic gains were with a GOP Congressional majority in one or both houses of Congress (like the 1990’s). Even Reagan’s great bull market had to get through the cleansing of the Carter recession/inflation problems he inherited.

    If you asked any investor — or checked the market indices — if one party or the other captured the White House and both houses of Congress this November, chances are it would be UP with the GOP in charge and DOWN BIG if the Democrats swept. Today’s Democratic Party — with many Socialists and anti-business types welcomed — is not Your Daddy’s Democratic Party.


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