2001-S SAC$1, DCAM PR69DCAM Certification #44995866, PCGS #99599

Charles Morgan

The Rise and Fall of the 2001-S Sacagawea Dollar Proof

The origin of the Sacagawea Dollar began with a looming shortage. As the U.S. Treasury’s supply of Susan B. Anthony Dollars dwindled in the late 1990s, the United States $1 Coin Act of 1997 mandated a new dollar coin.

In 1998, Treasury Secretary Robert Rubin appointed the Dollar Coin Design Advisory Committee to oversee a public design competition. After reviewing suggestions, the committee requested a design featuring "Liberty represented by a Native American woman, inspired by Sacagawea." This choice faced political resistance; Representative Michael Castle (R-DE) argued that the public preferred the Statue of Liberty. He commissioned a General Accounting Office (GAO) poll which supported his claim—65% of respondents preferred the Statue of Liberty. However, the Treasury dismissed the GAO’s findings as "insufficient" and proceeded with the Sacagawea motif.

A "Golden" Gambit

In 2000, the coin launched with great fanfare and a $40 million marketing budget. The United States Mint spared no effort in positioning the new "Golden Dollar" as a hip coin designed for the modern world. Eschewing the stern portraits of past coinage, the Mint depicted Sacagawea as a vibrant young woman with her infant son, Jean Baptiste, in tow.

The "Golden Dollar" branding was intended to evoke value, yet it proved to be a double-edged sword; many consumers mistakenly believed the coins contained actual gold and began hoarding them. When major banks failed to show sufficient initial interest, the Mint turned to mega-retailer Wal-Mart to handle distribution. The Wal-Mart gambit worked—millions of Americans received their first Sacagawea Dollars in change within weeks. However, banks complained about being bypassed, leading to the end of the exclusive retail deal. Despite this initial momentum, the $1 Federal Reserve Note remained a more convenient medium of exchange. By 2001, public enthusiasm had already begun to wane.

The 2001 Numismatic Boom

By 2001, the United States Mint reported that the numismatic hobby had grown to 125 million collectors, fueled by the popularity of the 50 State Quarters Program. While many were casual collectors simply pulling quarters from change, the data for active collectors—those buying at a premium—tells a more specific story.

In 2001, the Mint sold 1,116,915 Uncirculated Coin Sets, featuring Philadelphia and Denver strikes of all circulating coins. The Proof Set market was even more robust:

• Clad Proof Sets ($19.95): 2,294,404 sold.
• Silver Proof Sets ($31.95): 889,697 sold.Clad Quarter-only Sets: 799,231 sold.

The 2001-S Sacagawea Dollar Proof as a "Key Date"

The 2001-S Sacagawea Dollar Proof (#99599) serves as a cautionary tale regarding conditional rarity, availability, and immature markets. PCGS graded its first PR70DCAM on April 24, 2004. A second did not follow until late July. The first auction took place at Teletrade on October 18, 2004; with only four coins available in that grade, it realized $3,300. Less than a month later, a second PR70DCAM realized only $1,870. By that time, the PCGS "pop" (population) had already climbed to 29.

It took nearly five years for the market to settle. As dealers and collectors submitted more coins, the population of PR70DCAMs continued to rise. The first sub-$200 auction occurred in November 2009. Even then, the Guide Book listed raw examples at $65—a valuation that eBay auction data consistently failed to support. Today, a 2001-S in PCGS PR70DCAM can be purchased for about $30.

Redefining the "Key Date"

In 2012, Hubert Walker and I published an extensive study on this decline. We argued that if the 2000–2008 series had a "Key Date" Proof, it was likely the 2008-S (#394949), given its series-low mintage of 2,169,561. While Proof mintages for the subsequent Native American Dollar series (2009–Present) often fall well below this figure, the Mint further complicated the hierarchy by releasing seven 2000-W 22-karat gold Sacagawea Dollars (#508062).

In light of these factors, it is difficult to view a $30 coin as a significant "key" when the series includes significantly lower-mintage issues and space-flown patterns struck in gold. The takeaway for collectors is that while the PCGS Population Report is an essential tool, its predictive value requires the user to factor in future increases from continuous submissions—especially when an ample, untapped supply of high-quality material remains.

Noteworthy PCGS Signature Labels

Collectors of PCGS Signature Labels may wish to seek out examples signed by these notable figures. The following population data is current as of January 2026:

• Thomas Cleveland Native American (Coin Designer) | (#625764) 125 coins: 100 PR69DCAM, 25 PR70DCAM
• Thomas Cleveland Proof Set (Coin Designer) | (#680033) 8 coins: 5 PR69DCAM, 3 PR70DCAM
• Philip N. Diehl (Mint Director) | (#533444) 207 coins: 184 PR69DCAM; 23 PR70DCAM
• Jay W. Johnson (Mint Director) | (#99599) 5,000 coins (numbered edition, #71104884- #71109883): Possibly all PR69DCAM

* * *