2002-W Proof American Silver Eagle

in Proof Silver Eagles

The release of the 2002-W Proof American Silver Eagle marked seventeen years of Proof Silver Eagle production by the United States Mint. Sales of the 2002 Eagle faltered in comparison to the previous year which had achieved the third best annual sales in the series to that point.

In fact, the 2002 release marked the first time in several years in which the maximum mintage for the coin had not been closely approached. The US Mint had even been slowly increasing the mintage cap in previous years only to see demand drop in 2002.

For the year, the maximum mintage allotted for the coin was set at 750,000, the same as it had been in 2001. However, sales missed that mark by over 100,000.

One factor likely playing into the decreased interest in comparison to 2001 was the fact that 2001 was the first year in which production of the standard Proof Silver Eagles was undertaken at the US Mint’s facility in West Point in the history of the series. 2002 Silver Eagles were also struck at West Point but that novelty was apparently over.

Specifications on the 2002 Silver Eagle remained constant to the series. This includes an obverse portrait of "Walking Liberty" by Adolph A. Weinman. This image had first been featured on the 1916-1947 half dollar coin and is considered by many as one of the most beautiful ever struck by the United States Mint.

Shown on the reverse of the strike is a heraldic eagle with shield design. It was completed by US Mint engraver John Mercanti.

Composition also remained unchanged in the series with each Silver Eagle struck from one ounce of .999 fine silver.

2002 Silver Eagle Mintages

As previously mentioned, the mintage for the 2002-W Proof American Silver Eagle was down for the series in comparison to the previous year with only 647,342 sold. Still, that number was enough to qualify 2002 as the fifth best ever for Proof Silver Eagles sales in the seventeen years of production up to that point. Each Proof Silver Eagle sold for $24.00.

Bullion Silver Eagle demand improved in 2002 over 2001. According to the US Mint, a total of 10,539,026 year-dated strikes were sold in comparison to 9,001,711 the previous year. The average London Fix for Silver for the year was $4.60 an ounce.

2002-W Proof American Silver Eagles on Sale

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