1988-S American Silver Eagle Proof : History & Value

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
The identical yr that the American Silver Eagle Proof coin debuted, the United States Mint had a runaway hit with the Statue of Liberty Centennial Commemorative Coin Program. The Statue of Liberty Proof silver greenback offered 6,925,627 items, whereas the clad half greenback offered 6,414,638. Demand for these collector cash was greater than 5 instances increased than for the Proof model of America’s first silver bullion coin. In the present day, collector enthusiasm is clearly extra within the Silver Eagle camp.

When the Mint produced the 1988-S American Silver Eagle Proof, the trendy commemorative craze was waning. Collectors bought just one,359,366 Proof examples of the quite uninspired 1988 Seoul Olympiad commemorative. In the meantime, the 1988-S American Silver Eagle Proof offered 557,370 items. This determine was a far cry from the 1986 demand, however the half-million gross sales quantity would more-or-less proceed by 1992. Due to the care taken in producing these cash, the Mint had efficiently established a large collector base for its annual silver Proof coin.

The U.S. Mint provided the 1988-S American Silver Eagle Proof on the market at $23. Adjusted for inflation, this involves about $60 in 2024 {dollars}. The worth of silver firstly of 1988 was about $6.80. The steel would peak at $8.00 on the finish of July earlier than retreating to $6.00 on the finish of the yr. Collectors in 1988 had been okay with paying the Mint’s stiff surcharge.

What Is the 1988-S American Silver Eagle Proof Coin Price?

Ten years in the past, the everyday 1988-S American Silver Eagle offered for about $50 in Proof 69 Deep Cameo/Extremely Cameo. This was a slight premium over the costs sellers had been getting for a similar coin in Unique Authorities Packaging. $50 in 2013 cash is equal to $66 in at present’s cash. Utilizing that as our measuring stick, we see that the 1988-S American Silver Eagle has primarily held its worth within the Proof 69 (OGP) grade. The date is a gentle vendor, and the licensed inhabitants at this degree has elevated by 13,821 items since March 2014.

The inhabitants of Proof 70s has additionally elevated. From 2013 to 2014, PCGS added 287 Proof 70s to its pop report. Within the 10 years since, it has added, on common, 254 cash per yr. As of this publication, the PCGS inhabitants stands at 3,780. Curiously, it is a ratio of two.56 70s to 1 69 (Via 2014, that ratio was 9:1).

NGC reportd the a lot decrease inhabitants of 842 Proof 70s in 2014; at present, that quantity has grown to three,095. In actual phrases, the distinction between the 2 grading providers is negligible.

CAC, a brand new grading service experiences solely eight cash in its census – all Proof 70s.

So, how a lot is a Proof 70 1988-S American Silver Eagle Proof value in 2024?

CoinWeek reviewed over 50 costs realized on the main on-line public sale web sites. What this knowledge exhibits will shock you. On the low finish, a PCGS PR70DCAM offered in January 2024 for $128.50 within the firm’s generic blue “fader” label. On February 19, 2024, a purchaser paid $995 (the asking worth) for an NGC PF70UC instance with a signed John Mercanti label. That very same coin in a Mercanti-signed label offered for $545 a month earlier. On February 9, 2024, a PCGS PR70DCAM with a John Mercanti-signed label offered for $362.95. These costs are far and wide and point out an lively market that lacks clear pricing data.

What do you have to pay for a Proof 70 at present? A extra life like retail worth is between $300 and $320. Historical past exhibits that the “hand-signed premium” is not going to doubtless maintain.

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Market Information and Noteworthy Specimens

The PCGS PR70DCAM has elevated from 3,780 to 4,206 since March 2024. In that very same interval, the NGC inhabitants rose from 3,095 70s to three,291.

Prime Inhabitants: PCGS PR70DCAM (4,206, 2/2025), NGC PF70UC (3,291, 2/2025), and CAC PR70DCAM (17, 2/2025)

• NGC PF70UCAM: eBay, February 18, 2025 – $369
• PCGS PR70DCAM: eBay, February 16, 2025 – $320. 19 bids. John Mercanti signature label.
• NGC PF70UCAM: eBay, February 11, 2025 – $414. 21 bids. Ed Moy signature label.
• PCGS PR70DCAM: eBay, February 10, 2025 – $309.92.
• PCGS PR70DCAM: eBay, February 7, 2025 – $349.95.
• PCGS PR70DCAM: eBay, February 2, 2025 – $198.50.
• NGC PF70UCAM: eBay, March 4, 2024 – $320
• PCGS PR70DCAM: eBay, March 3, 2024 – $241.50. Michael Reagan Signature Label.
• PCGS PR70DCAM: eBay, February 28, 2024 – $534.99. John Mercanti Signature Label.
• NGC PF70UCAM: eBay, February 16, 2024 – $364. Elizabeth Jones Signature Label.

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Design

Obverse:

Sculptor Adolph A. Weinman’s Girl Liberty is depicted mid-stride. She is seen as a full-body determine, wearing a flowing robe, and draped with a big billowing American flag. She holds laurel and oak branches in her left hand that symbolize the civil and army glories of America, respectively. As Liberty strides confidently in the direction of the rising solar, she additionally reaches out and presents a welcoming and open hand. So giant is Girl Liberty that she is superimposed over the obverse legend LIBERTY ringing the obverse – actually, she obscures half of the “BE” and virtually the complete “R”. Above Liberty’s outstretched rear foot is IN GOD WE TRUST, and beneath her is the date 1988.

The design bears a notable resemblance to sculptor Oscar Roty’s The Sower, a typical picture on French cash. Numismatist Roger Burdette posited in his e-book Renaissance of American Coinage (2007) that this was not a coincidence and whereas Adolph Weinman didn’t immediately copy, he did derive vital inspiration from Roty’s work. Weinman’s Liberty Strolling design shortly grew to become one in all America’s most iconic numismatic photos and could be used with minor modifications on the American Silver Eagle bullion coin beginning in 1986.

Reverse:

United States Mint Chief Engraver John M. Mercanti’s Heraldic Eagle is positioned on the heart of the reverse. Clutched in its beak is a ribbon that bears the motto E PLURIBUS UNUM. Above its head, is a constellation of 13 stars configured in an upside-down pyramid formation. Wrapping across the design is the legend (high) UNITED STATES OF AMERICA and the fineness and denomination (backside) 1 OZ. FINE SILVER. ONE DOLLAR. Under the olive department is the S mint mark of San Francisco.

Edge:

The sting of the 1988 American Silver Eagle Proof coin is reeded.

Coin Specs

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