The 1989-S American Silver Eagle Proof coin is a special edition of the popular Silver Eagle series. Though silver prices fell slightly in 1989, both bullion and Proof Silver Eagle sales rose. The United States Mint sold this coin at $23 (equivalent to about $57.93 in 2024 dollars). As the years have passed, it has become a valuable item for collectors. In this guide, we’ll take a closer look at the 1989-S Silver Eagle Proof coin, its design, worth, and market trends.
What Makes the 1989-S Silver Eagle Special?
The 1989-S Silver Eagle Proof coin is highly regarded by collectors due to its design, low mintage, and its status as part of a significant series of American coins. The coin was produced at the San Francisco Mint (marked with an “S” mintmark), and only 617,694 coins were made that year. While the coin’s value has remained relatively stable over the years, there is a growing interest in the highest-grade coins.
Understanding the Coin’s Grade and Worth
The value of the 1989-S Silver Eagle Proof can vary greatly depending on its condition. As of 2024, the highest grade for this coin—PR70DCAM—has seen a significant increase in population, meaning more coins are being graded at a near-perfect level. Grading services like NGC and PCGS have contributed to this growth, with the coin being graded more frequently each year.
In 2024, the price for a coin graded PR70DCAM can range from $180 to $250, depending on the specific features and market conditions. This price has remained stable, even though the silver price itself has increased over time. The 1989-S remains one of the most affordable Silver Eagles from the 1980s in its perfect 70 grade.
Market Trends and Prices
Over the last decade, the price of the 1989-S Silver Eagle has remained stable, with retail values holding steady between $50 and $60. However, coins graded as PR70 have seen prices that are much higher. For example, NGC graded coins have consistently sold for more than their PCGS counterparts.
The demand for higher-grade coins continues to grow, and collectors have shown a strong preference for coins with signed labels and other special features. Auctions and online sales, like eBay, have seen prices for PR70 coins reaching upwards of $300.
The Design of the 1989-S American Silver Eagle Proof
The design of the 1989-S American Silver Eagle Proof coin is rooted in American history and features two prominent symbols of the United States.
Obverse: Lady Liberty
The obverse (front) of the coin shows Lady Liberty walking with a graceful stride, draped in a flowing gown and surrounded by the American flag. Sculptor Adolph A. Weinman created this iconic design, which has become one of the most recognizable images in American numismatics. Lady Liberty’s pose symbolizes freedom and strength, and she holds laurel and oak branches to represent the country’s civil and military honors.
Above Liberty’s outstretched foot, the coin features the words “IN GOD WE TRUST” and the year 1989, while the word “LIBERTY” runs along the upper rim. The design is inspired by the famous “Walking Liberty” design used on early 20th-century American coins.
Reverse: The Heraldic Eagle
The reverse (back) of the coin features the Heraldic Eagle, designed by John M. Mercanti. This eagle holds a ribbon in its beak that bears the motto “E PLURIBUS UNUM,” a reference to the United States’ motto meaning “Out of many, one.” The eagle’s wings are spread wide, and it holds an olive branch in one talon and arrows in the other. The coin’s reverse also features 13 stars, representing the original 13 American colonies.
The words “UNITED STATES OF AMERICA” curve around the top, while the bottom of the coin reads “1 OZ. FINE SILVER. ONE DOLLAR.” The “S” mintmark is found just below the olive branch.
Edge: Reeded
The edge of the 1989-S American Silver Eagle Proof coin is reeded, giving it a unique feel when held. This design is common for Proof coins and adds a special touch to the coin’s overall presentation.
Specifications of the 1989-S American Silver Eagle Proof
The 1989-S Silver Eagle Proof coin has the following specifications:
- Year of Issue: 1989
- Denomination: One Dollar (USD)
- Mintmark: S (San Francisco)
- Mintage: 617,694
- Alloy: 0.999 fine silver
- Weight: 31.1 grams
- Diameter: 40.6 mm
- Edge: Reeded
- Designers: Adolph A. Weinman (obverse), John M. Mercanti (reverse)
Conclusion: A Coin Worth Keeping
The 1989-S American Silver Eagle Proof coin remains a highly collectible item for coin enthusiasts and investors alike. Its timeless design, relatively low mintage, and steady market demand make it a great addition to any collection. Whether you’re a seasoned collector or just getting started, this coin offers both historical significance and value, making it an attractive option for anyone interested in the world of numismatics.
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