THE PHILADELPHIA SET

PROOF SILVER EAGLE

In 1993, the U.S. Mint produced a set of coins known as the “Philadelphia Set”. The set contains a special silver Bicentennial medal only found in this set (and struck to recognize the 200th anniversary of the striking of the first official regular issue U.S. coins produced for general circulation by the Philadelphia Mint; namely the large cent struck in March, 1793), a 1993 $1 Proof Silver Eagle and a $5, $10, and $25 Proof Gold Eagle.

The 1993-P Silver American Eagle is the very first Proof Silver Eagle struck at Philadelphia and is an extremely important issue for Proof Silver American Eagle collectors.

Upon its release, the 1993-P Silver Eagle became the lowest minted Proof Silver Eagle ever struck since the series began in 1986. In fact, to this day only a handful of Proof Silver Eagles have mintages lower than this issue.

However, what really makes this date a key coin in the series is just how few have achieved a flawless Proof 70 Ultra Cameo. In fact, ONLY 0.69% of the 1993-P Silver American Eagles ever struck are known in NGC flawless PF70 grade (REGARDLESS OF LABEL). 

To put this in perspective, the 2019-S Enhanced Reverse Proof Silver Eagle which is notably one of the most valuable Proof Silver Eagles in the series has a NGC PF70 population more than 3 times the amount of the 1993-P.  Currently the 2019-S Enhanced Reverse Proof Silver Eagles sells for easily double the price of the 1993-P in NGC PF 70.

Key Takeaways Collectors Should Know

• The 1993-P is an issue with extremely high collector demand as it is the very first Proof Silver Eagle struck at Philadelphia. 

• It is one of the lowest Minted Proof Silver Eagles ever released by the United States Mint

• In NGC PF70 Ultra Cameo it is more than 3x rarer than the 2019-S Enhanced Reverse Proof which, however the 1993-P is currently only half the price.

• Only 61 PF70 issues have been hand-signed by the 42nd U.S. Treasurer Anna Cabral

• Public Auction record for a 1993-P Silver American Eagle in Proof 70 is $4,600