Owner Comments:
Mintage 8,891,025
Minted at West Point without mintmark
With an almost creamy and smooth texture to this American Silver Eagle, it's an excelent specimen with razor sharp detail on all the prime focal areas on the obverse and reverse. With original mint luster, as well as no spots, hairlines, hits, scuff marks or other defects (rims included), it is a superb example of American Silver Eagle in MS-70 condition.
Numismatic News: 2005 was a record year for the sale of ultra rare coins with 14 coins bringing in $1 million or more each. A notable coin was a 1907 Ultra High Relief Lettered Edge 1907 Saint Gaudens double eagle which sold for $2.99 million.
PCGS started it's "First Strike" program, a designation called "Early Release" by NGC. Coins submitted for this special designation from previous years had to be submitted in their original government-shipping packaging, unopened, and with a postmark no more than 30 days from their original release. This requirement explains the relatively low numbers of pre-2004 First Strike and Early Release coins in comparison to the population of such coins in 2005.
Although there is no doubt a market for these special label coins, and other coins encapsulated with other special labels including numismatic important person's signatures, many professional numismatists such as Q. David Bowers advise collectors to "buy the coin, not the slab" with the thought being, when going to sell the coin, will the buyer have the same sentimental attachment to the signature or designation on the slab? An interesting point since most collectors consider only the certified grade such as MS-69 and PF-70, for example, when purchasing a coin and pay very little or no attention/premium to extra adjectives on the slab.
2005 average silver price: $8.82/ounce