Even with the sharply increased US Mint production of the American Eagle Silver Coins in 2008, the supply was unable to cope with demand and so there was an unexpected sellout in August that year.  There was a brief suspension of sales to stabilize the market, and when selling resumed, these were subjected to allocation. Still, the end result was a quick escalation of the coins’ prices in the secondary market.

Proofs of the 2008 Silver Eagle Coin were minted at the US Mint facility in West Point, New York, and thus, feature a “W” on the coin proof’s reverse. These 2008-W Silver Eagle Coin proofs stand in the third year in which uncirculated coins were offered for sale to collectors.

The 2008 proof mintage sports some other features distinctive in the Silver Eagle Coin series.  For instance, the reverse dies of the 2007 coins were used to strike a small quantity of the 2008-W Silver Eagle Coins.  This variety is known in the market as the 2008-W Silver Eagle Reverse of 2007.  As soon as collectors caught wind of such a distinction, there were strong demands and prices of these coin proofs rose quickly.

Even prior to the prize bonanza in 2008 Silver Eagles, these coins are already highly valued in the market, especially among collectors.  After all, no less than the government of the United States guarantees the weight, purity and content of the series, the only silver bullion with this type of government assurance.

Every American Silver Eagle Coin is composed of .999 fine silver, with a weight of 1.000 troy ounce for a silver content of 0.999 troy ounces.  Copper accounts for the rest of the coin’s component and is added for coin durability and better resistance to design tarnishing.  The diameter of the coin is 1.598 inches while thickness is 0.117 inches.  The Silver Eagle has a reed edge, with its obverse side featuring the “Walking Liberty” designed by Adolph A. Weinman and the reverse showing a heraldic eagle rendered by John Mercanti.

In the case of the American Eagle Silver Coins proofs, these were struck as part of the US Bullion Program implemented in 1986 under the authority of the United States Congress.  Also included in this program is the minting of American Gold Eagle Coins.  An American Eagle Platinum proof was added to the mintage starting 1997.

Each Silver Eagle Coin proof and the other coins minted under the bullion program are struck in a special minting process.  The method calls for having burnished coin blanks manually fed into presses with special dies fitted.  The coin blanks are struck several times, resulting in softly frosted but very detailed images.  An elegant accent is provided by encasing the coin in a velvet-lined presentation box, and topped off with a Certificate of Authenticity from the US Mint.

The American Silver Eagle Coin is also available as bullion for investors. The US Mint channels these bullion coins through its network of authorized purchasers, who create a secondary market for the public by both selling and buying the Silver Eagles.

There are several options in purchasing Silver Eagle Coins.  One is called bulk purchase, which involves buying green boxes which investors know as “Monster Boxes” containing 25 tubes or rolls of 20-coin Silver Eagle.  A green top with the US Treasury seal makes the 20-coin rolls distinctive. The bulk method usually provides the lowest premium, as opposed to an individual Silver Eagle Coin purchase which can generate the highest premium.

To be successful in investing in a coin collection, be it in bullion or proofs, you must have a familiarity of the varying mintages of the Silver Eagle Coin.   The year-to-year fluctuation in mintages since 1986 greatly influences the price levels of the bullion and coin proofs.  Collectors often make use of a standard reference book to determine the mintages. Generally, these are in the millions of coins for the businesses or bullion strikes and hundreds of thousands for the coin proofs.

It will also help to have an understanding of the mintmarks in a Silver Eagle Coin which indicate where the coin was struck.  There are three mints where Silver Eagles have been struck.  If a coin bears an “S” mintmark, it is from the San Francisco mint which produced coins early in the series.  Those coins with the “P” mark were struck in the Philadelphia mint.  Coins or proofs of more recent mintage carry the “W” on the reverse side to indicate that these were from the US Mint in West Point, New York.

These outlets generally make the American Eagle Silver Coins purchases in bulk from the US Mint.  They get what is known in trading as the “Monster Boxes”, which are green boxes containing 25 rolls or tubes of 20-coin Silver Eagle rolls. The same boxes are sold to the investing public.  Purchases of 20-coin rolls are the most common in bulk deals which usually provide the lowest premium per coin.  Individual coin purchases can also be done, and premiums are often the highest.  These purchases are usually done by collectors who want to assemble a series with one coin for each year of mintage.

In addition to selling the Silver Eagle Coin series through dealers in a secondary market, the US Mint also directly sells coin proofs to collectors.  These so-called proofs are minted through a special process wherein each coin is struck several times to produce distinctively detailed images. In the case of Silver Eagles, it is referred to as the “Walking Liberty”, which is found on the obverse side of the coin and the classic heraldic eagle with a shield is found on the reverse side.

In order to assemble the more valuable Silver Eagle Coin collection, one must have a good knowledge of the bullion’s mintage series which vary widely over the years.  This wide mintage variation results in the wide range of prices in the American Eagle Coin series. Among those that are highly valued by collectors are the coins in 1995 during which the US Mint marked the 10th anniversary of the American Eagle Bullion Program.  To celebrate this anniversary, a special 1995-W Proof Silver Eagle was minted within the year’s Gold Eagle Proof Set, of which only 30,125 sets were sold, by far the lowest in the series.   Another special three-coin set was produced by the US Mint in 2006 to celebrate the 20th anniversary of the program.  This set included a 2006-W Reverse Proof Silver Eagle, the first minting of this kind for a US coin.

The 2008 mintage is also a favorite among collectors. A 2008-W Silver Eagle Reverse coin was minted using the 2007 reverse dies.  Surging silver prices in 2008 due to shortages have likewise sent Silver Eagle prices soaring and mintage to new record levels.

More than its design, however, the American Silver Eagle Coin is prized by many because it is the United States’ official silver bullion.  The US Mint first issued the Silver Eagle in November 1986.  Each coin has a nominal value of one US dollar and is struck exclusively in the 1 troy ounce denomination and contains one troy ounce of 99.9% pure silver.

The minting of the Silver Eagle Coins is part of the American Eagle Bullion program authorized by the United States Congress in 1985.  This program granted the US Mint the authority to produce not only silver bullion but also gold bullion.  In 1997, minting of platinum silver eagle was added to the program.  The US government guarantees the precious metal content, weight and purity of these coins.

Proof versions of the American Eagle medallion is struck at the US Mint for collectors.  The proofs undergo a special minting process that entails feeding burnished blanks manually into presses with special dies fitted. Detailed images seemingly afloat a mirror-like surface characterizes each proof, the result of the multiple times that each coin is struck.  Meticulous manual inspection follows after they are struck otherwise they are uncirculated. After passing this quality control process, they are packed in satin-lined velvet boxes with clear plastic covers to complete an elegant presentation.   Each one carries an official certificate of authenticity from the US Mint which helps prevents production of fake coins.

The Silver Eagle medallions come out of three mints.  Those that carry the “P” mintmark are struck at the Philadelphia mint.  Those that were considered mintages of the series’ early years have the “S” mark, indicating that they were minted in San Francisco. Coins of more recent mintage were struck at the West Point, New York, and these bear the “W” mintmark on its reverse side.

It is important for collectors to understand what these mintmarks signify.  The price of the American Eagle Silver Coins may be readily determined through these marks.  This is because year-to-year mintages of the coins vary widely, and collectors usually check a standard reference book to determine the years wherein the minted coins or proofs command higher prices in dollars making them highly collectible.  In general, proofs were issued only in sets of hundred thousands, while business strikes would amount to millions of coins.

One way of finding out just how much exactly the Gold Eagle coin in your possession is worth is by calculating its dollar and cent value based on the running gold price for the day. This information can be obtained from major newspapers. Find out how much your coin is worth based on the amount of gold it contains, giving allowance for premium for delivery and handling prices. Premium could be about 10-20% on top of the price, depending on what coins you are holding. You also have to do some research and find out how much the gold price is per troy ounce. This will give you a pretty good idea of how much the American Gold Eagle coin you are holding is worth. Also if you are to sell it make sure you have proof it is genuine.

You may also look at prices offered at online auction sites. Just simply punching in the specifications of the coin in your possession can give you a price that you can take note of for comparison. However, online trading is not generally recommended because of the high value of the item being traded. Unless you know the online site to be a reputable one and their track record is excellent, you may want to just simply take the price down first for reference.

You may also go to coin dealers and ask them directly for the selling price of your coin. Or, you may also go to the government website and take a look at the list of authorized dealers where you are much more likely to be safe when it comes to obtaining price information. Experienced traders can also guide you in the valuation of your gold eagle coin.

Also check out for collector items’ pricing. If your Gold Eagle coin is a collector’s item, it could well fetch a much higher price than its gold content equivalent. Just bear in mind your gold coin’s high grade when estimating how much it is worth on the market.