2010-W Proof American Silver Eagle

in Proof Silver Eagles

The 2010-W Proof American Silver Eagle was released by the United States Mint as a continuation of a series of Proof Silver Eagles dating back to 1986. Collectors were understandably excited when the US Mint announced the release of the 2010 Proof Silver Eagle because the previous year’s numismatic Eagle had been cancelled.

That cancellation was the result of intense investor demand for the related bullion Silver Eagles which are also struck from one ounce of .999 fine silver. The Mint was required by law at the time to strike the bullion Eagles in sufficient quantities to meet public demand forcing it to divert all available blank planchets towards bullion production leaving none for Proof Eagles.

For a majority of 2010, collectors were still unsure if the US Mint would be forced to cancel Proof Eagle production again that year as bullion demand remained high. Finally, the announcement was made in October that the 2010 Proof Silver Eagle would be released on November 19, 2010.

The announcement was made along with the following explanation via a press release from the US Mint:

"We have worked very hard with vendors to increase the quantity of precious metal planchets available to us," said US Mint Director Ed Moy.  "That hard work has paid off.  In fact, we have tripled our supply of silver planchets from Fiscal Year 2007 levels."

Although the demand for precious metal coins remains high, the increase in supply of planchets-coupled with lower demand for bullion orders in August and September-allowed the United States Mint to come off allocation and shift some capacity to produce numismatic versions of the one ounce American Eagle Silver Proof Coin.

Within a few weeks, and despite a household order limit of 100, the 2010 Proof Silver Eagle sold out.

2010 Proof Silver Eagle Mintages

According to the United States Mint, a total of 860,000 2010-W Proof American Silver Eagles were sold. While that mintage is not the highest for the series, it is large when one considers the number was sold in just a matter of weeks. Each was offered by the US Mint for $45.95.

Bullion Silver Eagles were sold in sufficient numbers to shatter all previous annual records. The US Mint recorded a total of 34,764,500 year-dated strikes sold. The average London Fix for Silver for 2010 was $20.19 an ounce.

2010-W Proof American Silver Eagles on Sale

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