2006 American Silver Eagle : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

Demand for the American Silver Eagle bullion coin surged in 2006, surpassing 10 million coins sold for the second time in the decade. All coins were struck at the West Point Mint but do not carry a mintmark.

At least a portion of this renewed enthusiasm for metals was owed to the economic fallout from Hurricane Katrina, which devastated much of New Orleans and caused massive disruptions to the American fuel supply as the nation’s major refineries were located in the affected area.

The 2006 releases also came at a time of continued growth in popularity for American Silver Eagles as collectible coins. After a lull in interest throughout the mid-’90s, the millennium release and massive initial enthusiasm for the 50 State Quarters Program brought renewed attention to the series. At the time, the collectibility of American Silver Eagles was largely fostered by late-night coin shopping programs, which promoted the coins in both raw and graded formats. Initially, the certified coins were encapsulated by lesser-known grading services. This all changed when NGC, followed by PCGS, began to actively engage in this market.

With rising organic collector interest and the robust marketing of the rare coin industry, the American Silver Eagle program will become increasingly complex from a collector’s perspective from this point forward

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2006 American Silver Eagle Market Data and Noteworthy Specimens

More than 40% of all MS69 coins certified by PCGS are encapsulated in First Strike^® holders. In 2014, PCGS certified additional First Strikes using John Mercanti signature labels with the American Flag design.

In 2006, NGC debuted its Early Releases^® program. For a limited number of 2006 American Silver Eagle boxes, NGC denoted the box number on the label, using a Red Flag label for box #1 – one of the first 50,000 struck, apparently. A regular label was used to denote that the coin was one of the first 100,000 struck; we assume this means 50,001 to 100,000.

Top Population: PCGS MS70 (2,452, 11/2024), NGC MS70 (8,894, 11/2024), and CAC MS70 (0:104 stickered:graded, 11/2024).

• NGC MS70 #1547876-169: eBay, November 5, 2024 – $89.88. First Strikes. Box #9.
• NGC MS70 #6256176-004: eBay, November 5, 2024 – $109.99.
• NGC MS70 #1991339-067: eBay, November 4, 2024 – $83. First Strikes.

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Design

Obverse:

Artist Adolph A. Weinman’s Lady Liberty is depicted mid-stride. She is seen as a full-body figure, dressed in a flowing gown, and draped with a large billowing American flag. She holds laurel and oak branches in her left hand that symbolize the civil and military glories of America, respectively. As Liberty strides confidently towards the rising sun, she reaches out a welcoming open hand. So large is Lady Liberty that she is superimposed over the obverse legend LIBERTY ringing the obverse – in fact, she obscures half of the “BE” and almost the entire “R”. Above Liberty’s rear foot is the motto IN GOD WE TRUST, and below her is the date 2006.

The design bears a notable resemblance to sculptor Oscar Roty’s The Sower, a common image on French coins. Numismatist Roger Burdette posited in his book Renaissance of American Coinage (2007) that this was not a coincidence and while Adolph Weinman did not directly copy, he did derive significant inspiration from Roty’s work.

Reverse:

United States Mint Chief Engraver John Mercanti’s Heraldic Eagle is positioned at the center of the reverse. Clutched in its beak is a ribbon bearing the motto E PLURIBUS UNUM. Above its head is a constellation of 13 stars configured in an upside-down pyramid formation. The legend UNITED STATES OF AMERICA wraps clockwise around the design at the top, and the fineness and denomination 1 OZ. FINE SILVER. ONE DOLLAR is cradled at the bottom.

Edge:

The edge of the 2006 American Silver Eagle bullion coin is reeded.

Coin Specifications

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