2012-S American Silver Eagle Proof : A Collector’s Guide

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

The 2012-S American Silver Eagle Proof is a low-mintage Silver Eagle that the United States Mint offered as part of two separate limited-edition sets.

The first chance collectors had to pick up this special Proof issue was the special two-coin 2012 American Silver Eagle San Francisco Proof Set. This set consisted of the 2012-S Proof and the 2012-S American Silver Eagle Reverse Proof and was struck to demand. It celebrated the 75th Anniversary of the third San Francisco Mint, built in 1937 at 155 Hermann Street.

The 2012 American Silver Eagle San Francisco Proof Set went on sale June 7, at an issue price of $149.95 ($208 in 2024 inflation-adjusted dollars). Offered for four weeks with no product limit, sales totaled 224,981 units. Today, these sets trade for about $170 in original government packaging.

The second appearance of the 2012-S Proof came in the U.S. Mint’s Making American History Coin and Currency Set, produced in collaboration with the Bureau of Engraving and Printing (BEP). The Coin and Currency Set coupled the 2012-S Proof with a Series 2009 $5 Federal Reserve Note printed at the San Francisco branch. The issue price for this set was $72.95 ($101.23 in 2024 dollars). The Mint set a 100,000-unit product limit for these sets, ultimately selling 56,811. Today, the Making American History Coin and Currency Set sells for about $80 in original government packaging.

How Much Is the 2012-S American Silver Eagle Proof Worth?

Since the Mint did not offer the 2012-S American Silver Eagle Proof as a standalone product, it is not unusual that they continue to be sold as part of one of the two sets. Most examples sold individually are coins that have been certified by CAC, NGC, and PCGS. Certified Proof 2012-S American Silver Eagles often state on the holder which set it came from.

It is also worth noting that only NGC currently includes population data on their labels to identify 2012-S Proofs from Coin and Currency Sets.

The two expected certified grades for the 2012-S American Silver Eagle Proof are Proof 69 and Proof 70. All examples exhibit a thick layer of frost on the devices sufficient to earn a Deep Cameo/Ultra Cameo designation.

The overwhelming majority of specimens in certified holders for this issue were graded within months of release. CoinWeek estimates that the total certified through January 2014 was approximately 67,000. Over the past decade, that number has risen to almost 75,500, or just over 26% of the total mintage.

In Proof 69, examples sell for about $60 to $65. Proof 70s carry a modest premium but can often be found on sites like eBay for $75 to $80.

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2012-S American Silver Eagle Proof Market Data and Noteworthy Specimens

Top Population: PCGS PR70DCAM (6,863, 9/2024), NGC PF70UCAM (4,526, 9/2024), and CAC PR70DCAM (30, 9/2024).

• PCGS PR70DCAM #49858605: eBay, September 1, 2024 – $79.88.
• PCGS PR70DCAM #49858604: eBay, September 1, 2024 – $79.
• PCGS PR70DCAM #49858602: eBay, September 1, 2024 – $80.
• NGC PF70UCAM #3681200-039: eBay, August 30, 2024 – $82.
• NGC PF70UCAM #367836-159: eBay, August 30, 2024 – $108.
• NGC PF70UCAM #3524415-030: eBay, August 29, 2024 – $167.50. Early Releases insert.
• NGC PF70UCAM #2585774-001: eBay, August 29, 2024 – $119.99. Early Releases insert.

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Design

Obverse:

A full-body Lady Liberty is depicted mid-stride, 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 presents a welcoming open hand. The upper portion of Liberty is superimposed over the obverse legend LIBERTY, obscuring half of the “BE” and almost the entire “R”. Above Liberty’s rear foot is the motto IN GOD WE TRUST, and below her is the date 2012.

Adolph A. Weinman’s design bears a notable resemblance to sculptor Oscar Roty’s The Sower, a common image on French coins.

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 UNITED STATES OF AMERICA is wrapped clockwise around the top of the design and the fineness and denomination 1 OZ. FINE SILVER. ONE DOLLAR is cradled counterclockwise at the bottom. The S mintmark is below the branch.

Edge:

The edge of the 2012-S American Silver Eagle Proof coin is reeded.

Coin Specifications

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