The paper presents the results of an experimental study of the electric conductivity and thermoelectric properties of a new coordination polymer (CP) based on phenazine ligands (Phz) and silver (Ag) synthesized by a one-step method. This method produces phenazine by oxidative dimerization of aniline under the action of AgNO3 followed by release of metal nanoparticles and subsequent self-organization of Phz with excess AgNO3 into the CP. The used method of the Phz-Ag synthesis was found to make possible obtaining CP with conductivity of about 1300 S/cm commensurable with the modern record value for CPs. The obtained experimental data led to the conclusion that the studied CP Phz-Ag possesses a metallic type of conductivity. A physical mechanism of forming this property was put forward.