$20,000+ Rare 1996 Coin: Here is why collectors make the worthless piece more valuable than $20,000.
It is also important for people who like to collect coins to know that some of them have overwhelming aesthetic and art, rare and historied value. One such coin is the 1996-W American Silver Eagle which now sells for more than $20 million. Now let’s discuss the detailed information about the story of the unique coin, its features, and the causes of its price.
History of 1996-W American Silver Eagle
The American Silver Eagle Program was initiated in 1986 to release investment or collector’s special bullion coins.
In 1996, the United States Mint created a special edition Proof coin celebrating the 10th anniversary of the program and has the “W” mint mark as the coin was produced at the West Point Mint.
This was the first time the proof Silver Eagle was minted at the West Point Mint, so this coin was even more unique to me.
Mintage and Rarity
The core statistical figure of the 1996-W Silver Eagle became 30,125 total pieces, and it is considered one of the scarcest issues ever minted.
This was prepared for collectors and this has caused it to become scarce in the market and thus very valuable today.
Design and Specifications
- Front Design:
On the obverse side there also a image in this picture taken from the front view, Adolph A. Wineman’s famous Walking Liberty with the image on half dollar from 1916 to 1947. - Back Design:
On the back on the back of the coin there is the Heraldic Eagle designed by John Mercanti – the emblem of power and consolidation. - Metal Composition:
It is cased in 99.9% Silver, weighs 1 Troy ounce and has a diameter of about 40.6 millimeters.
Causes of the Increase in Price
There are several reasons behind the high price of the 1996-W Silver Eagle:
- Low Mintage:
As it has already been mentioned, the created number of only 30,125 coins renders it very rare and loved by collectors. - Historical Significance:
This one was the first Proof Silver Eagle struck at the West Point Mint, making it a very important coin in the series. - Condition:
Some of the most costly coins are coins that are grading PR70 Deep Cameo. - 4. Collectors Demand:
This coin is valuable due to rarity, the age of the item, and intricate artistic work put into creating the coin.
Market Performance
Hence, the 1996-W Silver Eagle price has been rising for the years as shown in the subsequent table.
- Early 2000s: The PR70 DCAM coins were about $5000 each.
- 2010s: That price went up to above $10,000.
- Today: It has sold for more than $20000 at auctions, therefore is among the most valuable collectibles.
Other related dates
To understand the value of the 1996-W coin, it is useful to compare it with other rare coins:
Conclusion
The 1996-W American Silver Eagle coin is a product of history combined with rarity and art. Limited numbers, its place in the shows history, and its growing value on the market make it a true collector’s and investor’s dream. In the future, its demand and value will continue to grow in a similar way as the modern world’s dependence on computers and other high technologies does.
FAQs
Q.What is the particular rare coin of 1996 that was talked about?
A. In fact, the coin in question is the 1996-W American Silver Eagle which has been produced by the U.S. The Mint is commemorating the 10th anniversary of the introduction of the American Silver Eagle coin series onto the foreign exchange market.
Q. Why is there such importance of the 1996-W Silver Eagle?
A. This coin has scarcity factor which originated from the fact that only 30,125 were produced, second, it is the first proof Silver Eagle to be struck at the West Point Mint, and finally, it is a collectors’ item.
Q. Are you aware of the number of the 1996-W Silver Eagles produced?
A. If that wasn’t enough, only 30,125 of these coins were ever coined making it one of the rarest Silver Eagles in existence.
Q. What are the peculiarities of this coin?
A. The 1996-W Silver Eagle features:
The obverse features Walking Liberty design by Adolph A.In 1986, Weinman added a design to the coin.
These earlier commemoratives are marked with a “W” mint mark to denote that they were struck at the West Point Mint.
A bar of 9999 purity of Metalla silver carrying one troy ounce of silver.
Q. . What is the value of a Silver American Eagle, produced in 1996 at West Point?
A. Available in PR70 Deep Cameo condition, this coin has fetched over $20,000 in a number of auctions. Other less graded coins are also valuable but the price offered for them is comparatively lower.