1994 American Silver Eagles

in Silver Eagles Information

The 1994 Silver American Eagles were not a banner year for the series of coins as both the bullion and proof versions showed significant declines in their mintage.

Silver prices may have had some influence on the disappointing numbers as the average price of an ounce of the precious metal jumped $.97 for the year to $5.28. This marked the second year in which silver showed an annual increase since bottoming out in 1992 at $3.95 an ounce.

Investors apparently did not take that huge increase lightly and curbed their bullion Silver Eagle purchases. Coming in at only 4,227,319 sold for the year makes the 1994 bullion Eagles the second lowest mintage in the coins first twenty five years of availability. This drop equates to a loss of 2,536,443 over what they had been in 1993 (or down 37.5%).

The table below shows the number of bullion Silver Eagle coins ordered from the US Mint each month in 1994 by the Mint’s network of authorized purchasers. Keep in mint, these numbers do not directly indicate the year-dated mintage, however, as some of the coins may have been struck in another year.

1994 Bullion Silver Eagles Sold

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 Eagles did not fare any better and showed a decline of 33,745 coming in at 372,168 total (or 8.3% off). This mintage qualifies the 1994 strikes as the lowest ever for the proof coins in their first twenty five years of availability.

With such lowest mintages across the board on these strikes, both the proof and bullion coins are known to garner significant premiums for those interested in obtaining them.

Other than their low mintage, however, the strikes remained identical in specifications to those of the previous years. The proof coins were still struck at the US Mint’s facility in Philadelphia (after being moved there the previous year) and show the appropriate ‘P’ mintmark. Production of the bullion coins remained in San Francisco, although as is typical with bullion strikes, no mintmark is evident on them.

The 1994 Proof Silver Eagles were sold by the Mint for $23 a piece.

1994 Silver Eagle Mintages

Bullion Mintage: 4,227,319
Proof Mintage: 372,168

1994 Silver Eagle Specifications

Weight: 31.101 grams (1.000 ounces)
Diameter: 1.598 inches (40.60 mm)
Thickness: 0.117 inches (2.98 mm)
Composition: 99.93% silver, 0.07% copper

1994 Silver Eagle Design

Mint Mark: Bullion – None, Proof – ‘S’
Edge: Reeded
Obverse Designer: Adolph A. Weinman
Reverse Designer: John Mercanti

1994 Silver Eagles on eBay


 

 

 

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