1994-P 1 oz American Silver Eagle NGC PF69 Ultra Cameo

By 1994, the American Silver Eagle bullion coin program had been ongoing for 8 years and was an immediate success. The United States Mint created these coins on the orders of Congress who had seen the international success of South Africa, China and Canada creating Troy Ounce bullion coins for international consumption. All three of these countries successfully created bullion coin programs that garnered worldwide attention and investment.  

In 1986, the US Mint created the new American Silver Eagle bullion coin. To insure the program’s success, the Mint relied on an old but very popular design. The obverse of these bullion coins copied the Walking Liberty design by Adolph Weinman. This design was used on the circulating Half Dollar coins struck between 1916 and 1947.  

Miss Liberty walks across the coin, facing left. Her right hand is outstretched in a sign of friendship. She is wrapped in flowing robes and has an American flag about her shoulders. Behind her is a rising sun with rays emanating from it. The word “LIBERTY,” is at the upper periphery, “IN GOD WE TRUST,” is on the right field, and the current date is below her. 

The reverse was designed by the gifted Chief Engraver of the United States Mint at the time – John Mercanti. Mercanti was inspired by a reverse design of some of our earliest silver dollar coins and created a Heraldic Eagle design. 

The American Bald Eagle has a shield on its chest and 13 five-pointed stars arranged above it. Around the periphery on the reverse are these phrases, “UNITED STATES OF AMERICA,” and “1 OZ. FINE SILVER – ONE DOLLAR.”  

This lot is for a 1994-P American Silver Eagle, graded as “PROOF 69 ULTRA CAMEO,” by the Numismatic Guaranty Corporation (NGC), which is one of the major, independent, third-party grading services. NGC has authenticated, graded, and encapsulated tens of millions of coins throughout its history since its inception in the 1980s. The “Proof 69” grade means that this coin is one tiny point away from perfection but the “ULTRA CAMEO,” designation means that the surfaces are gorgeous,  and the devices are frosted, and the fields are mirrored for a beautiful appearance.  

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