Tomorrow, January 23, 2014 at 12:00 Noon ET, the United States Mint will begin sales of the 2014 Proof American Silver Eagle. This product has come to represent the Mint’s most popular annual offering as measured by unit volume of sales.
The obverse of the coin carries Adolph A. Weinman’s classic Walking Liberty design featuring a full length portrait of Lady Liberty in a flowing gown and draped in the stars and stripes. She carries branches of laurel and oak with one hand outstretched towards the rising sun. Inscriptions read “Liberty” and “In God We Trust” with the “2014” date at the base.
The reverse of the coin features a heraldic eagle designed by former US mint Chief Engraver John Mercanti. The eagle appears with wings outstretched and a shield at its chest. Its talons grasp an olive branch and bundle of arrows while its beak holds a banner with the motto “E Pluribus Unum”. An arrangement of thirteen stars is seen above. The inscriptions surrounding the design read “United States of America”, “1 oz. Fine Silver”, and “One Dollar”.
The coins are struck in proof quality at the West Point Mint and carry the “W” mint mark. The composition is 99.9% silver with a weight of 1.000 troy oz and diameter of 1.598 inches.
Each coin comes in a blue velvet, satin lined case with certificate of authenticity. Initial pricing is set at $52.95 per coin plus shipping and handing. There are no household ordering limits or mintage limits in place. The US Mint indicates that customer demand will determine the number of coins minted.
A 10% discount is available when the coin is ordered through the Mint’s online subscription program. After the discount, the coins would be priced at $47.65 plus applicable shipping and handling.
The 2014-W Proof Silver Eagle has already been released within the 2014 Congratulations Set, which went on sale January 14, 2014. For this product, the coin is placed within an illustrated folder with space for a personalized message. Priced at $54.95, the product is targeted towards various gift giving occasions. According to the latest sales report, this product sold just 692 units during its debut period.
It seems that most collectors are opting for the traditionally packaged version of the product, which will be released tomorrow. The pricing for the upcoming version is also more favorable, especially for those taking advantage of the online subscription discount.
Last year, the individual 2013-W Proof Silver Eagle went on sale January 24, 2013 and sold out on November 12, 2013. Last reported sales for the standard offering had reached 868,494 units. The coin was also included in the 2013 Congratulations Set and 2013 Limited Edition Silver Proof Set. These products have reached sales of 15,739 and 34,447, respectively, and both remain available for sale from the US Mint.