1987-S American Silver Eagle Proof: Historical Significance and Market Value

A Look Back at the 1987-S American Silver Eagle Proof

1987 marked the second year of the American Silver Eagle bullion coin program, with the 1987-S American Silver Eagle Proof being a standout issue. While the bullion coin saw impressive sales numbers, the proof version did not perform as well in terms of sales. Some attribute this to the Mint’s decision to raise the price of the proof coin, but it is more likely that the initial excitement around the new coin program had tapered off by 1987. Adjusted for inflation, the issue price of the 1987-S American Silver Eagle Proof was $63.79 in 2024 dollars.

The Quality of the 1987-S American Silver Eagle Proof

The San Francisco Mint struck the 1987-S American Silver Eagle Proof to a high standard, with pieces showcasing thick white frost on the devices and deeply mirrored fields. While properly stored examples should retain this appearance, it is not uncommon to find coins with hazy fields and tarnished frost. Collectors should be discerning and not settle for coins with these imperfections.

Value and Certification Trends

In recent years, the certified population of the 1987-S American Silver Eagle Proof has seen an increase, indicating growing interest among collectors. Notably, the ratio of coins graded PR-70DCAM has shifted, with more coins achieving this top grade compared to previous years.

Despite an increase in the population of high-grade coins, the price levels for the 1987-S American Silver Eagle Proof have remained relatively stable for PR-69 examples. However, those who invested in PR-70 coins may have seen a decline in the value of their holdings over the past decade.

Market Insights

An analysis of sales data from prominent online platforms like GreatCollections and eBay reveals a range of prices for graded examples of the 1987-S American Silver Eagle Proof. Collectors have shown a preference for coins in modern holders with signature label inserts, leading to price differentials based on presentation.

The Iconic Design of the American Silver Eagle Proof

The 1987-S American Silver Eagle Proof showcases a timeless design that pays homage to classic American coinage. Adolph Weinman’s iconic Walking Liberty motif graces the obverse, while John Mercanti’s heraldic eagle design adorns the reverse, creating a visually appealing and historically significant coin.

Coin Specifications