1994 American Silver Eagle Coins

The 1994 American Silver Eagle Coins failed to entice investors and collectors resulting in both the proof and bullion versions of the coin showing significant declines.

1994 American Silver Eagle Coins
Mintage: 4,227,319 Bullion, 372,168 Proof
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A $.97 per ounce increase in the average annual price of silver may have had some affect on the dismal mintage numbers for the year. The precious metal ended up averaging $5.28 an ounce, making it the second straight year in which silver prices improved after bottoming out in 1992.

Adolph A. Weinman’s "Walking Liberty" design still graced the obverse of the coins with John Mercanti’s rendition of a heraldic Eagle found on the reverse.

1994 Silver Eagle Mintage

Bullion Silver Eagle Mintage

Silver American Eagle Bullion mintage showed a large decline for the year coming in at 4,227,319. This was an annual decline of 2,536,443 from the previous year, or down 37.5%. It would also be the second lowest bullion mintage for the strike in its first twenty-five years of availability.

The chart below is a monthly breakdown of the Bullion Silver Eagles sold during the year by the US Mint. (Numbers may include coins minted in other years.):

Bullion Silver Eagles Sold in 1994

January
480,000
  July
230,000
February
345,000
  August
375,000
March
450,000
  September
0
April
175,000
  October
225,000
May
525,000
  November
125,000
June
100,000
  December
2,510,500

Proof Silver Eagle Mintage

The Proof Eagles also showed a significant decline for the year dropping 33,745 from the previous year to only 372,168 – a negative of 8.3%. This marked the lowest mintage the standard Proof Eagles would see in their first quarter century of availability.

Issue Information

The 1994 Silver Eagles were the ninth year in which the US Mint struck coins for the program.

Release Date

The US Mint had the 1994 Eagles available for most of the year.

Issue Price

The US Mint sold the proof silver Eagles for $23 a piece. Bullion Eagles were sold to the Mint’s network of authorized purchasers who in turn re-sold the coins to collectors and investors for a small premium above the spot price of the silver contained within them.

U.S. Mint Production Facility

Proof Silver Eagles were struck at the US Mint’s facility in Philadelphia and had the ‘P’ mintmark while the bullion Eagles were struck in San Francisco and contained no mintmark.

Designer & Sculptor

Adolph A. Weinman "Walking Liberty" design which first appeared on the 1916-1947 half dollar is used on the obverse (heads side) of the Eagle. John Mercanti designed the reverse (tails side) to shows a heraldic eagle.

Coin Specifications

Face Value: $1
Finish: Bullion, Proof
Composition: 99.93% Ag, 00.07% Cu
Standard Weight: 31.103 g
Standard Diameter: 40.60 mm
Edge: Reeded

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