HomeUS Coins2000-P Proof American Silver Eagle : A Collector’s Guide

2000-P Proof American Silver Eagle : A Collector’s Guide

2000-P American Silver Eagle Proof. Image: Stack's Bowers / CoinWeek.
2000-P American Silver Eagle Proof. Image: Stack’s Bowers / CoinWeek.

When the American Silver Eagle program debuted in 1986, the Mint produced all of the series’ Proof coins at its facility in San Francisco, the same facility where the Mint’s annual Proof Sets have been struck since 1968. This continued through 1992. In 1993, the Mint switched its Proof Silver Eagle operations to the Philadelphia Mint, and Proof issues struck from 1993 to 2000 bear the P mint mark.

A notable exception during this period was the West Point Mint’s striking of the 1995-W American Silver Eagle, which the Mint offered as part of a special 10th Anniversary Collector Set, along with all four sizes of the American Gold Eagle in Proof. The 1995-W is considered the key to the American Silver Eagle series.

The 600,000 2000-P American Silver Eagle Proofs were sold at an issue price of $24 USD each; adjusted for inflation, the cost was 43.25 in 2024 dollars. With the millennium date, sales levels for the Proof coin far exceeded normal demand. In a typical year in the 1990s, the Mint would sell between 400 and 500,000 Proofs.

The year 2000 also marked a turning point in the series. After 2000, demand for the American Silver Eagle skyrocketed. The bullion version sold more in the aftermath of September 11. Proofs sold better, too, as coin marketers leaned into the series and developed innovative ways to sell the coin to a new generation of collectors.

What Is the 2000-P American Silver Eagle Proof Coin Worth?

The United States Mint sold the 2000-P American Silver Eagle with the coin seated in a clear plastic capsule, and the coin capsule mounted in a small cardboard display box. Coins in this original government packaging sell for $70 to $80. Coins graded and encapsulated by CAC, NGC, or PCGS will normally sell for a slight premium over the raw coin price, but it is possible to pick one off on a site like eBay for $70 or less.

There is more demand for coins graded Proof-70 with Deep Cameo/Ultra Cameo.

Recent auction data on sites like eBay and major coin auction sites like GreatCollections, Heritage, and Stack’s Bowers, show that the collectors are paying between $200 and $250 for “perfect” Proofs. There are outliers in the data, with several coins selling for $300 to $400 on eBay, but these are BUY IT NOW prices.

Notes on Proof 70 Coins

If you are unfamiliar with the definition of Proof 70 coins, you should read our handy guide linked above. As for the 2000-P American Silver Eagle, CoinWeek has tracked the certified population of this date since 2014. In that year, 3.4% of the coins that PCGS certified were graded PR70DCAM, while 6% of those certified by NGC were graded PF70UC. These percentages have not held up in the intervening years, as the total certified population has increased from 33,759 to 51,249 as of March 2024.

2000-P American Silver Eagle Proof. Image: Stack's Bowers.
This 2000-P American Silver Eagle Proof was graded more than 10 years ago. Image: Stack’s Bowers.

Over the past decade, an average of 1,750 2000-P American Silver Eagles have been graded by the big three grading services, with the majority being graded by NGC. Through 2014, PCGS had certified 1,176 PR70DCAMs. Today, that number stands at 3,525, or 17% of the total coins that PCGS has graded. Looking only at the 69s and 70s grading during this period, the percentage of 70 coins graded by PCGS has jumped from 3.4% to 32.1%. A possible explanation for this is that bulk submitters are minimum grading at 70 instead of 69, as was the case before 2014.

Looking at the NGC data, through 2014, 6% of the coins graded by the service earned the perfect 70 grade. In 2014, 2,032 NGC coins were graded PF70UCAM. Today, that number stands at 4,698 coins. Based on available data, the percentage of coins grading 70 at NGC has increased to 27.5% since 2014. Again, a submitter-requested minimum grade of 70 may be at play here.

If this is not the case, then other factors at the grading service may be contributing to the apparent loosening of the standard.

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Market Data and Noteworthy Specimens

Top Population: PCGS PR70DCAM (3,525, 3/2024). NGC PF70UC (4,698, 3/2024). CAC PR70DCAM (49, 3/2024).

  • NGC PF70UC #4394443-005: eBay, March 19, 2024 – $245.
  • PCGS PR70DCAM #81666376: Stack’s Bowers, February 21, 2024, Lot 97721 – $216.
  • NGC PF70UC #6595229-071: eBay, February 10, 2024 – $162.50.
  • NGC PF70UC #6681616-007: Stack’s Bowers, August 23, 2023, Lot 31871 – $264.

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Design

Obverse:

Sculptor 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 also 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 IN GOD WE TRUST, and below her is the date 1988.

The design resembles 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 and would be used with minor modifications on the American Silver Eagle bullion coin starting in 1986.

Reverse:

The Heraldic Eagle by United States Mint Chief Engraver John M. Mercanti 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. Below the olive branch is the P mint mark of the Philadelphia Mint.

Edge:

The edge of the 2000-P American Silver Eagle Proof coin is reeded.

Coin Specifications

American Silver Eagle Proof Coin
Year Of Issue: 2000
Denomination: One Dollar (USD)
Mint Mark: P (Philadelphia)
Mintage: 600,000
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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