2000 American Silver Eagle : A Collector’s Guide

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

The 2000 American Silver Eagle is a one-ounce silver bullion coin struck by the United States Mint at its West Point branch. Like all Silver Eagle bullion coins, this issue carries no mintmark and was sold to investors in bulk through authorized dealers.

Silver prices saw a slight decline in value that year, generally trading for just under $5 an ounce. This did not dampen the enthusiasm of silver buyers, however, as the 2000 issue was the second-highest-selling issue up to that point behind the 1987 American Silver Eagle. Enthusiasm for the 2000 date may have been a factor, but these sales levels would be typical until the 2008 financial crisis when Silver Eagle bullion coin sales eclipsed 20 million for the first time.

How Much Is the 2000 American Silver Eagle Worth?

The 2000 American Silver Eagle is collected in multiple ways. For the investor, the date is common and carries no premium over the current market, which is typically spot plus $7-$10 at retail.

Certified examples in the typically encountered grade of MS69 are plentiful and carry a slight premium over raw, with prices trending between $45 and $50 per coin. We advise against paying premiums for “limited edition” labels as most dealers do not make two-way markets in them and they are generally used by dealers to differentiate their stock from the stock of other dealers.

The MS70 market for the 2000 American Silver Eagle has not been kind to either investors or collectors over the past 10 years. Once thought conditionally rare, the steady (and projected) rate of new 70 encapsulations has disproven this belief. People who invested in these coins at the top of the market have lost vast sums of money. In March 2013, an NGC MS70 brought $10,575 at a Heritage auction held in conjunction with the Central States Numismatic Society’s annual convention; a similarly graded coin might bring $2,000 to $2,800 today.

In 2000, the United States also offered the 2000 American Silver Eagle in its Millennium Coin and Currency Set. We discuss this set in detail below.

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Market Data and Noteworthy Specimens

PCGS pop one through March 2013. NGC pop 160 through December 2010.

Top Population: PCGS MS70 (204, 8/2024), NGC MS70 (677, 8/2024), and CAC MS70 (25, 8/2024).

• PCGS MS70 #37364217: Heritage Auctions, July 1, 2024, Lot 52395 – $1,920.
• NGC MS70 #6524487-025: eBay, May 21, 2024 – $2,874.
• PCGS MS70 #49213183: eBay, May 15, 2024 – $2,695.
• PCGS MS70 #37492787: Heritage Auctions, February 9, 2023, Lot 3405 – $3,720.
• NGC MS70 #265732-006: Heritage Auctions, April 11, 2022, Lot 91131 – $3,120.
• PCGS MS70 #39752912: Heritage Auctions, April 22, 2021, Lot 91124 – $3,360. Mercanti signature label. Pop 28.
• NGC MS70 #1834818-005: Heritage Auctions, October 18, 2020, Lot 7547 – $1,860.
• NGC MS70 #013031-003: Heritage Auctions, October 18, 2020, Lot 7545 – $2,040.
• NGC MS70 #1834656-002: Heritage Auctions, October 18, 2020, Lot 7548 – $2,040.
• NGC MS70 #013031-005: Heritage Auctions, October 7, 2020, Lot 21906 – $1,920.
• PCGS MS70 #34738457: Heritage Auctions, December 6, 2019, Lot 4530 – $1,440. Pop 51.
• PCGS MS70 #36819086: Heritage Auctions, December 13, 2018, Lot 4373 – $4,200.
• PCGS MS70 #34738457: Heritage Auctions, April 26, 2018, Lot 4083 – $4,560. Pop 28.
• NGC MS70 #265732-006: Heritage Auctions, April 26, 2018, Lot 4082 – $3,120. Small planchet flaw to the right of Liberty in the obverse field. Tick on the drapery to the left of IN GOD WE TRUST. Grease stains on reverse.
• NGC MS70 #3678817-002: Heritage Auctions, March 30, 2018, Lot 4367 – $3,840.
• NGC MS70 #4493340-005: Heritage Auctions, January 5, 2018, Lot 5825 – $3,000. Planchet void to the left of Liberty’s sandal. Tiny tick in the garment above the second 0 of the date. On the reverse, thin scratches above ER.
• PCGS MS70 #4436837-002: Heritage Auctions, September 8, 2017, Lot 5199 – $3,960.
• PCGS MS70 #84742352: Heritage Auctions, September 7, 2017, Lot 4112 – $5,280. Pop 20 when offered.
• NGC MS70 #1571587-010: “The Siegel Collection,” Heritage Auctions, April 28, 2017, Lot 4986 – $5,640.
• NGC MS70 #1765440-001: Heritage Auctions, January 6, 2017, Lot 6315 – $4,465.
• NGC MS70 #169946-065: Heritage Auctions, October 4, 2016, Lot 4515 – $3,055; Heritage Auctions, January 6, 2016, Lot 3471 – $3,525. Minor staining.
• NGC MS70 #3753606-004: Heritage Auctions, September 7, 2016, Lot 3339 – $4,700. John Mercanti signature insert.
• NGC MS70 #1863999-043: Heritage Auctions, September 7, 2016, Lot 3338 – $4,230.
• NGC MS70 #112519-001: Heritage Auctions, January 6, 2016, Lot 3742 – $3,525; Heritage Auctions, April 29, 2016, Lot 5507 – $3,290.
• NGC MS70 #1856776-008: Heritage Auctions, December 3, 2010, Lot 4162 – $10,350; Heritage Auctions, August 12, 2015, Lot 3794 – $4,230.
• NGC MS70 #1836370-001: “The Steitz Collection,” Heritage Auctions, June 4, 2015, Lot 4426 – $5,170. Horizontal planchet flaw above IN.
• NGC MS70 #310112-003: Heritage Auctions, November 2, 2013, Lot 4931 – $5,875.
• NGC MS70 #3665984-016: Heritage Auctions, September 27, 2013, Lot 6957 – $7,050. Pop 205 when sold.
• NGC MS70 #3665973-026: Heritage Auctions, July 11, 2013, Lot 3466 – $5,875; Heritage Auctions, September 12, 2013, Lot 17089 – $5,875.
• NGC MS70 #1836370-002: Heritage Auctions, July 11, 2013, Lot 3468 – $5,875.
• NGC MS70 #265732-003: Heritage Auctions, March 22, 2013, Lot 4038 – $10,575.
• NGC MS70 #265732-018: Heritage Auctions, March 8, 2012, Lot 3873 – $6,900.
• NGC MS70 #1917748-015: Heritage Auctions, January 7, 2012, Lot 7527 – $8,050. 20th Anniversary Collection insert.
• NGC MS70 #1858976-015: Heritage Auctions, January 7, 2011, Lot 6438 – $5,750; Heritage Auctions, July 11, 2013, Lot 3467 – $5,287.50; Heritage Auctions, October 17, 2013, Lot 17026 – $5,111.25. Tiny planchet flaws between R and T and on Liberty’s thigh. Wispy yellow discoloration on the obverse. Milk spots.
• NGC MS70 #1532700-005: Heritage Auctions, August 13, 2010, Lot 5530 – $3,737.50.
• NGC MS70 #3058138-015: Heritage Auctions, December 1, 2009, Lot 20390 – $1,610.
• NGC MS70 #188566-003: Heritage Auctions, July 17, 2007, Lot 10049 – $1,495.

2000 Millennium Coin and Currency Set

The year 2000 and the subsequent 20-prefixed dates had a faraway future feel for those coming into maturity in the mid-to-late 20th century. Arthur C. Clarke’s 2001: A Space Odyssey was an optimistic imagining of a future time where mankind looked to the stars. The real 2001 was a wake-up call that Americans were not inoculated from global security threats, internal political conflict, and economic fractures.

Looking back at the Millennium Coin and Currency Set, one can’t help but think about how much the packaging of this “forward-looking” set commemorating the money of the new millennium looks dated today.

The Mint did collectors no favors with how this $39 set ($72.50 in 2024 inflation-adjusted dollars) was marketed. Included was a 2000 American Silver Eagle Bullion Coin, a $1 Federal Reserve Note with a serial number beginning with 2000, and a 2000-D Sacagawea Dollar. The $1 bill has some interest for Fancy Number paper money collectors and the 2000 American Silver Eagle was the same bullion coin offered to investors. The 2000-D Sacagawea Dollar, to those reviewing the marketing materials, seemed no different than the regular issue circulation coin. In fact, the Mint made no mention that they had applied a similar Burnished finish to the set coins as they did to Glenna Goodacre’s specimen coinage specially produced as payment to the artist for her winning design. Despite the omission of this important information, the Mint was able to sell through the set’s 75,000-piece product limit.

This three-piece set has not experienced a significant value increase in the 24 years since its release. Today, the Millennium Set sells for about $85. More than 30% of that price is tied to the intrinsic value of the one-ounce silver bullion coin.

The 2000 American Silver Eagle from the set is no different from the uncirculated bullion coin sold by the millions to investors through the Mint’s authorized purchaser program. Nevertheless, this did not dissuade the leading grading services from singling these coins out from the general population in its census and on its holders. And while some collectors may be under the impression that the 75,000 mintage that applies to the Sacagawea Dollar coin also applies to the American Silver Eagle, no, it does not.

Still, collectors have paid significant premiums for coins certified MS70 with the Millennium Set pedigree and continue to do so despite the staggering decline in value that coins in these holders have experienced since 2013 when the population was in the low single digits. More than 30 examples have been certified by PCGS as of this publication. In MS69, these coins trade on par with MS69s of the regular issue.

• NGC MS70 #657838-002: Heritage Auctions, January 15, 2024, Lot 92084 – $5,040. Pop 44.
• NGC MS70 #3035732-016: “JB3 Collection”; Heritage Auctions, May 5, 2023, Lot 4895 – $4,800. JB3 COLLECTION on insert.
• PCGS MS70 #38268821: Heritage Auctions, October 17, 2019, Lot 3359 – $7,200. Pop 5 when offered.
• NGC MS70 #1759093-001: Heritage Auctions, October 11, 2018, Lot 3250 – $9,000.
• NGC MS70 #118527-001: Heritage Auctions, January 6, 2016, Lot 3473 – $11,750. Pop 23 when offered.
• NGC MS70 #156116-003: Heritage Auctions, November 2, 2013, Lot 4932 – $29,375. Pop 19 when offered.
• NGC MS70 #1859987-001: Heritage Auctions, July 11, 2013, Lot 3469 – $8,812.50.

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Design

Obverse:

Artist Adolph A. Weinman’s 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 2000.

The design, which bears a notable resemblance to French sculptor Oscar Roty’s The Sower, quickly became one of America’s most iconic numismatic images and would be used with minor modifications on the American Silver Eagle bullion coin starting in 1986.

Reverse:

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.

Edge:

The edge of the 2000 American Silver Eagle bullion coin is reeded.

Coin Specifications

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