The Silver American Eagle coin program entered its third year of availability at a time when correction was the name of the game. After two big years for the introduction and follow-up releases of the coin, demand from investors and collectors cooled. The Proof Silver American Eagle in particular saw massive declines, as most collector’s coins are at their height of popularity during the first year of release. Right now, the 1988-S Proof Silver American Eagle is available from Silver.com with a perfect grade.
- Only 926 coins earned this certification in 1988!
- Third release of the Proof Silver American Eagle coin!
- Arrives in a protective plastic slab.
- Consists of one troy ounce of .999 fine silver.
- Bears a face value of $1 (USD) backed by the federal government.
- Issued a PF70 grade by the Numismatic Guaranty Corporation.
- Features a UCAM finish.
- Walking Liberty graces the obverse.
- Heraldic eagle of the US dominates the reverse.
- “S” mint mark from the San Francisco Mint.
Collector’s versions of popular coins are always most popular during a first-release year. The 1986 Silver Eagle had an all-time high, still not matched to this day, of 1.44 million coins. The 1988-S Proof Silver American Eagle had a mintage less than half that figure at just 557,370 coins in total.
Even compared to 1987, the proof coin’s demand had dropped 350,000. The drop from 1986 to 1987 and 1987 to 1988 were the two largest drops in proof mintage in the Silver Eagle’s history. Some of this was related to the pent up demand for silver precious metals having been met by the Silver American Eagles release, as the bullion versions also dropped dramatically in 1988 from 11.4 million the year prior to 5.004 million this year.
The average silver price per ounce, according to historical silver price chart fluctuations, throughout 1988 was $6.53, at the time this price was considered a contributing factor to the dip in demand, even though it is low by today’s standards.
All 1988-S Proof Silver American Eagle coins in this listing have PF70 grades from the NGC. Considered perfect specimens, these coins have their full, original mint luster and lack any detracting flaws on the surfaces.
UCAM stands for Ultra-cameo, and identifies a proof coin with a unique finish. In this case, the design set has a strong, frosted matte finish. Meanwhile, the background field is deeply-mirrored and clear in appearance.
Please direct any questions you might have to a Silver.com associate at 888-989-7223, chat with us live online, or email us. Feel free to browse through all of our Proof Silver Coins for similar products from other countries.