There was no knowing at the time, but 2008 was going to become one of the most memorable production years in the history of the Silver American Eagle coin program. First and foremost, the US Mint shattered its previous sales record for the coin, nearly doubling the previous record. Second, and equally impactful, the oncoming Great Recession led to the end of the Proof Silver American Eagle’s consecutive production year record. The 2008-W Proof Silver American Eagle is available today on Silver.com.
- Just 5,127 coins earned this certification from the PCGS!
- 23rd annual striking of the Proof Silver American Eagle coin!
- Ships to you in a protective plastic slab from the PCGS.
- Consists of one troy ounce of .999 fine silver.
- Issued a face value of $1 (USD) by the United States government.
- Bears a grade of PR70 from the Professional Coin Grading Service.
- Available with a DCAM finish.
- Walking Liberty graces the obverse.
- Heraldic eagle dominates the reverse.
- Includes the West Point Mint’s “W” mint mark.
Demand for the bullion Silver American Eagle in 2008 was so intense that the US Mint had to suspend sales for the first time ever, and eventually resume on a rationed basis that would become commonplace in years to come. The previous record of 11.4 million bullion coins was crushed by the 2008 coin, with 20.583 million specimens produced.
The Proof Silver American Eagle shrunk significantly in 2008 as nervous investors, watching the oncoming Great Recession ravage the economy, turned to investment-grade coins. Mintage for the 2008-W Proof Silver American Eagle dropped 121,000 coins from the year before. Burnished versions of the coin also sank, falling almost 100,000 coins. Most of this drop was the result of all incoming silver blanks being rerouted to bullion production to keep up with demand.
Silver prices were up nearly $2 per ounce in 2008 from the previous two years, with an average price throughout the year of $13.28 per ounce of silver.
The 2008-W Proof Silver American Eagles in this listing have perfect PR70 grades. Coins in this condition from the PCGS exhibit full, original luster from the mint and no flaws. DCAM coins have strong, frosted design sets and deeply-mirrored, clear background fields. These proofs were the last coins struck before a one-year hiatus in proof production in 2009.
Please direct your questions to a Silver.com associate at 888-989-7223, chat with us live online, or send us an email. If you are interested in these or other Proof Silver Coins, be sure to contact us with your questions.