The numismatic rarity is the result of an emergency shift in U.S. Mint production in April due to the coronavirus situation and increased demand for Silver Eagle coins.
Numismatic Guaranty Corporation (NGC) has once again demonstrated its position as the leader in modern coin certification: The third-party grading service has already certified more than half of April’s emergency production of 240,000 American Silver Eagles at the Philadelphia Mint.
The Philadelphia Mint struck 240,000 American Silver Eagle bullion coins between April 8 and April 20, 2020, according to official U.S. Mint documentation. Bullion Silver Eagles, which have no mintmark, are normally struck at the West Point Mint and, in some years, the San Francisco Mint. Production of Silver Eagles was temporarily supplemented by the Philadelphia Mint due to the coronavirus emergency and strong demand for the coins.
The U.S. Mint makes bullion Silver Eagles available through a network of distributors called “Authorized Purchasers.” The coins are packaged in green “monster boxes” that each hold 500 coins. The Silver Eagles struck at the Philadelphia Mint have tracking numbers 400,000 through 400,479 on their sealed U.S. Mint monster boxes.
The majority of these coins have now been submitted to NGC, which has long been the leader in third-party certification of Silver Eagles and other coins. NGC recently became the first third-party grading service to certify more than 10 million Silver Eagles.
“We are honored that the marketplace has once again recognized NGC as the industry leader,” said Mark Salzberg, NGC Chairman and Grading Finalizer. “Collectors place their trust in NGC because of our superior expertise, integrity, and holders, among many other factors.”
Eligible coins are identified on the NGC certification label with the description “Struck at Philadelphia Mint, 2020(P) Eagle S$1, Emergency Production.” With a mintage of just 240,000 coins, the 2020(P) Emergency Production Silver Eagle is the second-rarest issue in the 34-year history of the bullion American Silver Eagle series.
Coins attributed as part of the Philadelphia Mint Emergency Production are listed separately in the 2020 Eagle section of the NGC Census. The NGC Census is a free online population report of coins certified by NGC, located here. (Note: The NGC Census does not count coins that do not receive a numeric grade or an NGC Details grade, or coins that have not yet shipped from NGC.)
For more information about NGC and its third-party certification services, visit the website of NGC.
Press release courtesy of the Numismatic Guaranty Corporation.