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American Eagle Dollar Stuns
By Steve Roach

Gold's recent ascension above the $1,000 an ounce level, and silver's jump to $17 an ounce has brought mainstream attention to the bullion markets. This traditionally has sparked an interest in American Eagle gold and silver coins.

Proof American Eagle coins have been of particular interest at the wholesale level, with major dealers paying $45 for Proof American Eagle silver dollars and $1,670 for Proof American Eagle 1-ounce gold $50 coins with original Mint boxes and paperwork.

Common Mint State 69 American Eagle silver dollar certified by Numismatic Guaranty Corp. and Professional Coin Grading Service are seen at retail coin shows priced at $30 to $35, and can be found for as low as $25 – including shipping – on eBay. Uncertified examples can be purchased for $3 above the spot price of silver.

At the September Long Beach auction by Heritage, two American Eagle silver dollars brought incredible prices showing that there is still life at the high end of the registry set market. The prices were especially surprising because traditionally, registry pressure has been strongest for PCGS coins.

A 1991 American Eagle silver dollar graded MS-70 by NGC realized $34,500, while a 1999 issue in the same grade realized $27,600.

As comparison, a comparable 1999 American Eagle silver dollar at auction in May for $7,475 while two NGC MS-70 1991 silver dollars sold on eBay through the site's Buy it Now function for $4,850. At press time, two are currently listed with Buy it Now prices of $9,700 and $9,999.

The extremely high results for the two coins at Heritage likely reflect exuberant bidding rather than a dramatic upturn in the market for the highest graded American Eagle coins.

Common NGC MS-70 American Eagle silver dollars can be found for $45 and MS-70 PCGS examples can be purchased for around $75 on eBay.

The key Proof 1995-W American Eagle silver dollar – with its very low mintage of 30,125 pieces – has suffered dramatic reductions in the past few years. Multiple NGC Proof 69 ultra cameo examples have sold at auction recently for around $3,000, a sharp decrease from 2006 when they regularly sold at $5,500.


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