American Silver Eagle sales finally started to show some signs of life in the late 1990s. After years of slumping sales, the nation’s official silver bullion coin came to life with the approach of Y2K as investors exhibited nerves about the stability of the American economy. Right now, the 1997-P Proof American Silver Eagle coin is available from JM Bullion with a perfect certification level.
- Only 1,310 coins earned this certification level from the PCGS!
- 12th annual striking of the American Silver Eagle proof coin.
- Arrives in a protective plastic slab.
- Contains 1 oz of .999 pure silver.
- Bears a face value of $1 (USD) backed by the federal government.
- Issued a grade of PR70 by the Professional Coin Grading Service.
- Features a Deep-cameo finish.
- Struck with a “P” mint mark by the Philadelphia Mint.
Throughout most of the 1990s, the American Silver Eagle coin had seen shrinking sales. A vital US economy and strong dollar meant that demand for the bullion and proof versions of the coin sunk.
Sales reached an all-time low, not matched since, in 1996 of just 4.1 million coins in total. Although not a significant increase, the 4.7 million coins struck in 1997 marked the start of four consecutive years of increasing demand for the American Silver Eagle. Much of this was caused by the fears surrounding Y2K and its potential impact on banking and the economy at large.
Each of the 1997 Proof American Silver Eagle coins in this product listing earned the highest grade from the PCGS, that of PR70. Indicating a coin with its full, original mint luster, these PR70 American Silver Eagles also exhibit no detracting flaws of any kind. The deep-cameo designation is for proof coins with a strong, frosted matte finish on the design sets and a deeply-mirrored, clear background field.
On the reverse of the coin is John Mercanti’s heraldic eagle. First used by the US Mint in 1794, then-Chief Engraver of the US Mint Mercanti modernized the heraldic eagle design in 1986 for use on the American Silver Eagle.
Adolph A. Weinman’s iconic Walking Liberty design, used on the Walking Liberty Half Dollar from 1916 to 1947, was brought out of retirement after 39 years for use on the American Silver Eagle’s obverse face.
Please feel free to contact JM Bullion with any questions. You can reach us on the phone at 800-276-6508, online using our live web chat, and via email. You can also browse other types of silver proofs as well as silver bullion coins by visiting our silver coin section.