2017 W Proof Silver Eagle 2020 US Mint Emergency Auction NGC PF70 UCAM Mercanti

Description

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2017 W Proof Silver Eagle
2020 U.S. Mint emergency Auction
NGC PF70 Ultra Cameo
Mercanti Signature
PRODUCT SPECIFICS
Year of Issue
2017
Mint Location
West Point
Mint Mark
W
Type
Silver Eagle
Strike Type
Proof
Certification
NGC
Grade
PF70 UCAM
Pedigree
2020 U.S. Mint Emergency Auction
Signature
Mercanti
Composition
Silver
Purity
.9993
Weight
1oz
Denomination

PRODUCT DESCRIPTION
First issued in 1986 the American Silver Eagle has become far and away the most collected modern silver coin in the World! Each Silver Eagle is struck from 1oz of .999 fine silver. The obverse design features a modern rendition of Adolph A. Weinman's classic Lady Liberty and the reverse features a heraldic eagle with a shield. The reverse was designed by legendary coin designer and the 12th Chief Engraver of the U.S. Mint John Mercanti!!
Early in June of 2020 a U.S. Mint audit discovered an unsold hoard of 2017 W Proof Silver Eagles! A final count found that 151,447 West Point struck Proof Silver Eagles were in this hoard. Typically when a hoard like this is found by the mint the coins are simply melted and the packaging destroyed in a process that's called de-trashing. However, due to what appears to be a change in policy the U.S. mint decided to auction these discovered coins to a very select group of dealers.
The significance of this event  has not gone unnoticed by the major grading companies as both NGC & PCGS have created special designations for the Silver Eagles discovered in this hoard and sold in the U.S. Mint Emergency Auction just as they did for the GSA Morgan's nearly 50 years ago!
This 2017 W Proof Silver Eagle was discovered in the 2020 West Point Mint Hoard and has been certified PF70 Ultra Cameo by NGC!! In addition the label has been hand signed by the 12th U.S. Mint Chief Engraver John Mercanti!
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