2007 American Silver Eagle : A Collector’s Guide

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

Even though the 2007 American Silver Eagle bullion coin’s mintage of 9,028,036 pieces is substantial, demand for the American Silver Eagle bullion coin was off by more than 1.6 million coins from the year before. As Republican President George W. Bush entered the back end of his presidency, several fissures in the American financial system started to emerge, mostly centered around the housing market and subprime loan products. By the end of the year, the country officially entered into recession, the tumult of which would put more than 7.5 million Americans out of work and set the stage for the landslide election of Democrat Barack Obama in 2008.

This economic crisis focused unprecedented attention on precious metals investing, and the mintages for both the Silver Eagle and the American Gold Eagle would soar starting in 2008.

What to Know Before You Buy or Sell a 2007 American Silver Eagle

The American Silver Eagle series is the most trusted and widely traded silver bullion coin in the United States. Its purity is backed by the Federal Government, and it carries a legal tender value of $1 – meaning that if the value of one ounce of silver ever depreciates below this, the coin can still be spent.

While some Silver Eagle bullion strikes trade for a premium due to their age and scarcity, the 2007 American Silver Eagle remains a common date. Don’t expect to be offered much more than the prevailing silver spot price when you try to sell it to a professional. On the flip side, pursuing a date run of American Silver Eagle bullion coins from 2000 onward should not pose much of a problem, as these coins do not trade for high numismatic premiums.

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2007 American Silver Eagle Market Data and Noteworthy Specimens

The certified coin market operates much differently than the “raw” coin market, and for the 2007 American Silver Eagle, we offer the following observations.

Coins graded MS69 and MS70 make up the majority of the coins that you will find in certified holders. MS69 coins sell for a slight markup over raw coins, but the spread is less than the cost of submission. MS70 coins will generally sell for $50 or more. This is down considerably from the coin’s 2015 pricing levels when PCGS coins sold for $110 ($148 in 2024 inflation-adjusted dollars) and NGC coins sold for $72 ($97). The increased availability of MS70 coins is largely responsible, as PCGS had graded just over 1,000 while NGC reported a population of 5,800. In the years since, the PCGS 70 population has increased more than threefold; the NGC top pop has experienced a 45% increase.

A PCGS MS70 First Strike sold at Heritage Auctions in May 2013 for $1,821.25. Then, the reported population stood at just 84 pieces. In June 2013, another one sold at Great Collections for $1,452.

NGC discontinued its First Strikes label program in 2007. However, in October 2007, NGC introduced the American Liberty Series of special insert labels. The series featured themes relating to the American Silver Eagle, Saint-Gaudens American Gold Eagle, and American Buffalo Gold bullion coin designs. For Silver Eagles, NGC required a minimum submission of 7,500 coins.

Top Population: PCGS MS70 (3,437, 12/2024), NGC MS70 (8,429, 12/2024), and CAC MS70 (107, 12/2024).

• NGC MS70 #6574974-149: eBay, October 21, 2024 – $52.01.
• NGC MS70 #4558153-028: eBay, October 18, 2024 – $49.99.
• NGC MS70 #6574974-149: eBay, October 13, 2024 – $51.
• NGC MS70 #6561275-038: eBay, October 13, 2024 – $50.57.
• NGC MS70 #6561275-015: eBay, October 13, 2024 – $299. John Mercanti signature label.
• NGC MS70 #3563019-012: eBay, October 12, 2024 – $45.
• CACG MS70 #964713457: eBay, October 12, 2024 – $197.10. “Struck in 2006” on insert.
• PCGS MS70 #16299319: eBay, October 3, 2024 – $85.
• NGC MS70 #1563765-013: eBay, October 1, 2024 – $52.
• PCGS MS70 #39618236: eBay, September 27, 2024 – $65. Len Buckley signature insert.

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Design

Obverse:

Artist Adolph A. Weinman’s Lady Liberty is depicted mid-stride. She is 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 America’s respective civil and military. As Liberty strides confidently towards the rising sun, she reaches out an open hand. Lady Liberty is superimposed over the obverse legend LIBERTY ringing the obverse, obscuring half of the “BE” and almost the entire “R”. Above her rear foot is the motto IN GOD WE TRUST. Below her is the date 2007.

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 is wrapped around the top of the design and the fineness and denomination 1 OZ. FINE SILVER. ONE DOLLAR is at the bottom.

Edge:

The edge of the 2007 American Silver Eagle bullion coin is reeded.

Coin Specifications

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