By Charles Morgan and Hubert Walker for CoinWeek Notes …..
When the American Silver Eagle debuted in 1986, the United States Mint had Congressional authorization to produce a bullion version with an Uncirculated finish for precious metals investors and a Proof version for the collector market. The Mint produced the bullion version at the Philadelphia, West Point, and San Francisco mints but the coins bore no mintmark. Production of the Proof version was handled first by San Francisco, the Mint’s Proof coinage facility since 1968. Proof American Silver Eagle production would later be moved to Philadelphia and West Point.
For the program’s 20th anniversary, the Mint introduced a new collector version similar to the bullion strike but produced using polished dies and planchets that give the coin a burnished appearance. The Burnished versions were struck at the West Point Mint and carried the “W” mintmark.
The 2006-W Burnished Silver Eagle was sold for $19.95 each. On August 30, the Mint offered the three-coin 20th Anniversary American Silver Eagle Set, which contained the 2006-W Burnished coin plus the 2006-W Proof Silver Eagle and the novel 2006-P Reverse Proof Silver Eagle. The set, with a retail price of $100 ($154 adjusted for inflation in 2024) and a product limit of 250,000 units, sold out after a couple of weeks.
How Much Is the 2006-W Burnished American Silver Eagle Worth?
While the 2006-W Burnished American Silver Eagle has seen a more than five-fold increase in value since its issue, adjusting for inflation, the collector premium associated with the coin has more or less stayed the same since we began tracking the issue in 2013. At least $30 of the current retail price is tied up in the coin’s ounce of silver bullion.
In 2014, the typical MS69 price for the 2006-W Burnished ranged between $45 and $55 ($59 and $72 in today’s money), with raw coins selling for a few dollars less. Sales on eBay over the past three months also fall in this range, while MS70s have declined in value by at least 30%.
Market saturation is partly to blame. Through 2014, the leading services had certified just over 78,000 coins. Today, that number has risen to about 150,000. The number of PCGS 70s has tripled, while the NGC population of 70s has increased by 2.5 times. To date, 32% of the mintage has been repackaged in coin slabs!
The United States Mint’s lack of commitment to the Burnished coin has also affected collector interest. The coin’s visual similarity to the Uncirculated bullion version doesn’t help, either.
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2006-W Burnished Silver Eagle Market Data and Noteworthy Specimens
Top Population: PCGS SP70 (7,364, 7/2024), NGC MS70 (23,334, 7/2024), and CAC MS70 (118, 7/2024).
- PCGS MS70 #20429750: eBay, July 15, 2024 – $99.99
- PCGS SP70 #46002292: eBay, July 13, 2024 – $88.
- PCGS SP70 #42158501: eBay, July 13, 2024 – $88.
- NGC MS70 #1555887-002: eBay, July 10, 2024 – $144.95.
- NGC MS70 #6261984-006: eBay, July 10, 2024 – $109.95.
- PCGS MS70 #32146207: eBay, July 9, 2024 – $132.05.
- NGC MS70 #3096073-008: eBay, July 9, 2024 – $119.68.
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Design
Obverse:
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 2006.
The design bears a notable resemblance to sculptor Oscar Roty’s The Sower, a common image on French coins. 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. The W mintmark of the West Point Mint is located below the branch.
Reverse:
The Heraldic Eagle of United States Mint Chief Engraver John M. 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 UNITED STATES OF AMERICA wraps around the top of the design and the fineness and denomination 1 OZ. FINE SILVER. ONE DOLLAR is at the bottom.
Edge:
The edge of the 2006-W American Silver Eagle bullion coin is reeded.
Coin Specifications
| American Silver Eagle Bullion Coin | |
| Year of Issue: | 2006 |
| Mintmark: | W (West Point) |
| Mintage: | 468,020 |
| 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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