1992-S Proof American Silver Eagle

in Proof Silver Eagles

The 1992-S Proof American Silver Eagle was issued by the United States Mint as the seventh annual release in the Proof Silver Eagle program. Unfortunately, interest in the Proof Eagle continued a slide in 1992 that had started the previous year and would go on for two more years before mintages would show improvement.

1992 also marked the last year in which the Proof Silver Eagle would be struck at the US Mint’s facility in San Francisco. Starting in 1993, the Proof Eagle would be struck at the US Mint’s facility in Philadelphia.

Since it was struck in San Francisco, the reverse of each coin shows an ‘S’ mintmark. The mintmark joins the reverse design featuring a heraldic eagle with shield that was originally completed by US Mint engraver John Mercanti.

However, it is the obverse design that typically catches the eye of anyone who sees it. It is a version of the mythical figure of Liberty. The design was actually originally used on the 1916-1947 half dollar which came to be known as the Walking Liberty Half Dollar. This version of Liberty, by artist Adolph A. Weinman, is a favorite of many collectors with the design described by many as one of the most beautiful ever struck on an American coin.

Those designs had been featured on the Silver Eagle series since its debut in 1986 and are still used today in the series. Specifications for the coins also remain the same including being struck from one ounce of .999 fine silver to a diameter of 40.60mm.

1992 Silver Eagle Mintages

As previously mentioned, the mintage for the 1992-S Proof American Silver Eagle continued a slide from the previous year and came in at only 498,543. It marked the first time since the introduction of the series that less than half a million of the coins were sold to the public. Each coin was initially sold to the public for $23.00 – the same price point used by the Mint for several years before.

Bullion Silver Eagles also realized mintage declines with the number of 1992 year-dated coins being just 5,540,068. The performance of the silver market that year likely played a significant part in the low mintage with the London Fix for Silver that year only averaging $3.95 an ounce.

1992-S Proof American Silver Eagles on Sale

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