2006-P American Silver Eagle Reverse Proof : A Collector’s Guide

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

The 2006-P Reverse Proof American Silver Eagle was sold exclusively as part of the United States Mint’s three-coin American Eagle 20th Anniversary Silver Coin Set, where it was coupled with the 2006-W American Silver Eagle Burnished coin and the 2006-W American Silver Eagle Proof. The 2006-W Burnished was also offered separately and as part of the less-interesting American Eagle 20th Anniversary Gold and Silver Set.

Collector enthusiasm for the novel new finish was predictably high, and the Silver Coin Set sold out within minutes of its release. On the secondary market, offers far exceeded the $100 issue price and surpassed $600 on eBay within the first year of release. These premiums have since dissipated and ungraded sets sell for about $175.

For collectors of the series, the Reverse Proof is seen as an important release. The 2006-P Reverse Proof is the first coin of its kind and collectors who missed out on the 10th Anniversary American Eagle Proof Set (which contained the key-date 1995-W American Silver Eagle Proof) did not want to miss the opportunity of acquiring another potential series key. The 2006-P Reverse Proof will never compete with the 1995-W due to its much higher mintage, but the coin has potential that remains untapped.

A sizable 33% of the entire 2006-P Reverse Proof mintage has been certified by the leading grading services, which have awarded the 70 grade to about 22% of the coins that have been submitted. On average, the leading services see only about 800 sets per year and that number will continue to decrease over time as the available “raw” supply dries up.

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2006-P American Silver Eagle Reverse Proof Market Data and Noteworthy Specimens

Top Population: PCGS PR70 (4,994, 7/2024), NGC PF70 (13,249, 7/2024), and CAC PR70 (2, 7/2024).

• NGC PF70 #3690114-026: eBay, July 11, 2024 – $288.13.
• PCGS PR70 #46406762: eBay, July 11, 2024 – $232.16.
• PCGS PR70 #29793889: eBay, July 9, 2024 – $343.
• NGC PF70 #2553525-011: eBay, July 6, 2024 – $280.
• NGC PF70 #2515344-022: eBay, July 6, 2024 – $290.
• NGC PF70 #2593230-023: eBay, July 5, 2024 – $228.50.
• NGC PF70 #1559498-002: eBay, July 5, 2024 – $349.

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 legend LIBERTY that rings the top half of the obverse, obscuring 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 2006.

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

Reverse:

The Heraldic Eagle of United States Mint Chief Engraver John Mercanti is positioned at the center. 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 “P” mintmark is located below the branch.

Edge:

The edge of the 2006-P American Silver Eagle Reverse Proof coin is reeded.

Coin Specifications

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