Home Gold 1994-W 1 Oz Gold American Eagle Proof $50 NGC PF70 UC

1994-W 1 oz Gold American Eagle Proof $50 NGC PF70 UC

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1994-W 1 oz Gold American Eagle Proof $50 NGC PF70 UC

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1994-W $50 proof Gold Eagle

1994 was the 9th year of production for the American Gold Eagle proof coin series. The most significant aspect of 1994 for this proof, 22 karat gold coin program is that for the first time all four of the denominations of coins in this program were minted at the same branch mint, the West Point Mint, instead of splitting production between that facility and the Philadelphia Mint, as was the practice until this time.

Spot gold prices were relatively flat for the year and traded between $370 and $395 with the average price for the year being $384. As a result of the situation with gold price, demand for the bullion counterparts to the proof Gold Eagles was lower, especially for the $50 bullion coin, which was about half of the level seen in 1993 (221,663 coins in 1994 vs. 480,192 in 1993). On the other hand, demand for the proof Gold Eagles from collectors of those coins rose in 1994, especially for the $50 coin. Sales for that coin jumped from 34,369 in 1993 to 46,674 in 1994.

Why purchase this PF70 UC 1994-W Gold Eagle coin?

NGC has graded 1,903 of the 1994-W Gold Eagle proofs. Of those coins a similar breakdown exists between the top two grades as is seen in other coins in the series from this period with 36% or 687 coins having been graded Proof 70, while 63% or 1,208 coins having been graded Proof 69.

With only a third of the coins of this date graded by NGC being Proof 70’s, examples in this grade are considered to be scarce and command a considerable premium. At this time production standards at the U.S. Mint were high, but they had not yet been perfected to the standards that exist today, which is why proof 70 coins are seen more frequently for more recent coins in this series.

This is a superb coin in the highest possible grade that would fit in nicely with a set of graded proof Gold Eagles, including an NGC registry set.

Year of Issue:1994
Mint:U.S. Mint
Mint Mark:W
Branch:West Point
Grading Service:NGC
Display Weight:1 oz
Weight in Grams:31.1032 g
Weight in Ounces:1 oz
Diameter:32.7 mm
Thickness:2.87 mm
Edge Type:Reeded
Country:United States
Legal Tender:United States
Obverse Design:Saint-Gaudens Double Eagle design
Reverse Design:Family of Eagles
Reverse Designer/Engraver:Augustus Saint-Gaudens
Obverse Designer/Engraver:Miley Busiek