The End of 2008 American Eagle Silver Proof Coins?
The U.S. Mint's 2008 Gift Catalog announcement on Monday contained a glaring omission. There were no collector 2008-W American Eagle Silver proof coins. Did the Mint simply forget to list these mainstay one-ounce silver coins? Not likely.
The die is cast and this year's run of the coins is likely ended. Despite hope, collectors are not likely to see a 2008 comeback similar to the platinum eagles' return on Friday. Three factors reinforce this line of reasoning:
Prior Mint catalog announcements have always included silver proof eagles
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The Mint halted sales of these eagles in August and they have never resumed
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Available silver blank inventories are used to mint bullion American Eagles silver coins, not the collector versions bearing the "W" mintmark
The first reason is self-evident, the second a matter of fact and the third bluntly explained by the Mint earlier this year.
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US Mint Returns American Eagle Platinum Coins
The United States Mint surprised collectors Friday with the return of both proof and uncirculated 2008 American Eagle Platinum coins carrying the "W" mintmark. And even better, the new prices are substantially lower than those from 2007 or in mid 2008.
Both platinum series of coins were pulled from the Mint's online shelves in early August with the expectation they would return after price reductions were made to better match platinum's free fall.
After more than two months of waiting, collectors can now purchase the coins at a discount, albeit with the understanding that there are still substantial premiums to consider when comparing coin prices to platinum's latest slide — it closed yesterday on Nymex at under $900 an ounce, and is falling further in early morning trading. The current level is a far, far cry from its record high of $2,252 per ounce earlier in the year.
As a special interest, these 2008 coins bear the final 'Judicial Branch' design in a three-year platinum series entitled, "The Foundations of American Democracy." Collectors who purchased coins from the previous two years due to their differing designs will likely be inclined to take advantage of the Mint's new prices, which are now lower than last year.
In all this, one thing is certain. There is absolutely no telling how long the coins will remain available. The old and newest proof and uncirculated platinum coin prices follow:
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