2008-W Proof American Silver Eagle

in Proof Silver Eagles

The 2008-W Proof American Silver Eagle was issued by the United States Mint as the twenty-third strike in the Proof Silver Eagles series. 2008 Proof Silver Eagles debuted early in the year on January 3, 2008 and were available until August when the US Mint abruptly pulled them from availability.

That move was seen as necessary by the Mint as it struggled to keep up with investor purchases of the related bullion Silver Eagles. The Mint was required by law at the time to mint the bullion Eagles in sufficient quantities to meet demand. Thus, all available blank planchets were diverted to bullion production leaving none for the numismatic Proof Eagles.

Still, the Proof Silver Eagles were sold by the US Mint for over eight months. In that time, enough of them were issued to qualify the year as the ninth best in the twenty-three year history of the program.

Like the bullion Eagles as well as all silver eagles issued before and since, the 2008 Proof Silver Eagle was struck from one ounce of .999 fine silver. Coins of the series have a diameter of 40.60mm.

The obverse design for Silver Eagles has also remained constant and shows a depiction of "Walking Liberty." This image was designed by artist Adolph A. Weinman and first appeared on the 1916-1947 half dollar coin. It has since grown a loyal following with many believing the design to be one of the most beautiful ever struck on an American coin.

Reverse designs for the series have always featured a heraldic eagle with shield image. The design is the work of US Mint engraver John Mercanti and was created for initial use on the silver eagle series.

2008 Proof Silver Eagle Mintages

The 2008-W Proof American Silver Eagles had a mintage of 700,979 before the US Mint pulled them from availability in August of 2008. Despite initial announcements of no mintage cap on the release, the coins were removed from sales early in the year owing to an unprecedented event. Investors were ordering the related bullion Silver Eagles in record numbers forcing the Mint to divert all blank silver planchets towards the bullion production leaving none for Proof Silver Eagles. When they were sold, the US Mint had a price of $31.95 per coin – an increase of $2 from previous releases.

Bullion Silver Eagles, as previously mentioned, saw record demand in 2008. The United States Mint recorded a total of 20,583,000 year-dated bullion Silver Eagles sold that year. The average London Fix for Silver in 2008 was $14.99 an ounce.

2008-W Proof American Silver Eagles on Sale

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