1997-P $1 Silver Eagle, DCAM (Proof)

1997-P American Silver Eagle Proof

In 1997, the United States Mint expanded its bullion program by introducing the American Platinum Eagle. Authorized by Congress in 1996, this new issue added a third precious metal to the Mint’s portfolio alongside gold and silver.

For the American Silver Eagle program that year, the Mint produced its standard offerings: a bullion coin (#9912) for investors and a Proof version (#9913) for collectors. With silver spot prices averaging $4.90 per ounce, the U.S. Mint set the Proof coin’s issue price at $23.00 ($46.86 in inflation-adjusted dollars).

Proof examples are struck to highest quality standards using specially prepared dies and planchets. The resulting coins exhibit mirrored fields and thickly frosted devices. Because these coins are handled with extreme care to prevent incidental marks or scratches during production and packaging, it is not unusual for a coin to grade Proof 69 Deep Cameo (PR69DCAM). To earn a Proof 70 grade, the coin must be fully struck and free of visual marks. In this grade "as minted" defects are allowed as long as they are minor and do not impact the eye appeal of the coin. 69s outnumber 70s by a factor of 3.27 to 1 and make up a little over 22% of the total certified population.

The "Impressions of Liberty" Proof Set

Beyond the individual Proof issue, the 1997-P Silver Eagle was also included in a prestigious commemorative release. To mark the debut of the platinum series, the U.S. Mint offered the 1997 American Eagle "Impressions of Liberty" three-coin set. This collection contained one-ounce Proof versions of the Platinum (#9751), Gold (#9928), and Silver Eagles.

While the individual coins in this set—the 1997-W Platinum, 1997-W Gold, and 1997-P Silver—are indistinguishable from those sold individually, the set was presented in a numbered wooden case with a Certificate of Authenticity (COA) hand-signed by Mint Director Philip N. Diehl. Limited to just 5,000 units, the set originally sold for $1,499 (approximately $3,036 in inflation-adjusted dollars). Today, these sets appear occasionally on secondary markets like eBay, with asking prices ranging from $4,000 to $5,000. However, because the coins themselves are identical to standard Proofs, the set's long-term premium relies heavily on the percieved scarcity of the set in its original wooden box with the signed COA.

Notable Signature Labels

PCGS has certified 1997-P American Silver Eagles featuring a variety of signature labels, a few of which are quite rare*.

• Paul C. Balan (Coin Designer) | (#1002196) 2 coins: all MS70
• Leonard Buckley (Coin Designer) | (#811053) 9 coins: 8 MS69, 1 MS70
• Thomas Cleveland (Coin Designer) | (#898893) Unique: MS70
• Thomas Cleveland (Coin Designer) | (#779673) 4 coins: all MS70
• Thomas Cleveland, Art Deco (Coin Designer) | (#624350) 19 coins: all MS70
• Thomas Cleveland, Flag (Coin Designer) | (#801663) 6 coins: all MS70
• Thomas Cleveland, Native (Coin Designer) | (#679066) 15 coins: 13 MS69, 2 MS70
• Thomas Cleveland, Scroll (Coin Designer) | (#672431) Unique: MS70
• Thomas Cleveland, Shield (Coin Designer) | (#682627) Unique: MS70
• Thomas Cleveland, Torch (Coin Designer) | (#681481) 6 coins: all MS70
• Thomas Cleveland, with Sun (Coin Designer) | (#809583) 31 coins: all MS69
• Thomas Cleveland, Wreath (Coin Designer) | (#946766) 5 coins: all MS70
• Thomas Cleveland / Paul C. Balan (Coin Designers) | (#995965) 3 coins: all MS70
• Emily S. Damstra (Coin Designer) | (#893405) 8 coins: all MS70
• John Dannreuther (PCGS Co-Founder, Author) | (#815451) 5 coins: all MS70
• David Hall (PCGS Co-Founder) | (#917944) 51 coins: all MS70
• David Hall, Signature (PCGS Co-Founder) | (#592345) 33 coins: 27 MS69, 6 MS70
• John Mercanti (U.S. Mint Chief Engraver) | (#827188) 7 coins: all MS70
• John Mercanti, Flag (U.S. Mint Chief Engraver) | (#684677) 87 coins: 1 MS69, 86 MS70
• John Mercanti, Mint Engraver Series (U.S. Mint Chief Engraver) | (#626023) 60 coins: all MS70
• John Mercanti, Mint Engraver Series Flag Signature (U.S. Mint Chief Engraver) | (#813438) 7 coins: all MS70
• John Mercanti, Signature (U.S. Mint Chief Engraver) | (#519812) 764 coins: 1 MS66, 326 MS69, 437 MS70
• John Mercanti, Silver Eagle (U.S. Mint Chief Engraver) (#897420) 3 coins: all MS70
• Ed Moy (U.S. Mint Director) | (#520281) 839 coins: 790 MS69, 49 MS70
• Jim Peed (Coin Designer) | (#825101) 4 coins: all MS70
• Ashley Reagan (Media Personality) | (#741279) 1,253 coins: 1,247 MS69, 6 MS70
• Cameron Reagan (Media Personality) | (#741256) 1,256 coins: 1,252 MS69, 4 MS70
• Michael Reagan (Media Personality) | (#824466) 2 coins: 1 MS69, 1 MS70
• Michael Reagan, Silver Eagle (Media Personality) | (#825329) 58 coins: 33 MS69, 25 MS70
• Thomas D. Rogers (Coin Designer) | (#911577) 318 coins: all MS70
• Michael "Miles" Standish (Coin Grader) | (#541965) 117 coins: 99 MS69, 18 MS70
• Stephanie Sabin (PCGS President) | (#898294) 16 coins: all MS70

*Signers' coin populations may change over time.