1992 Proof Silver Eagle

As the market price of silver dipped, so did the US Mint's sales for the 1992 Proof Silver Eagle. The collectible version of the annual bullion coin sold less than 500,000 units. The final mintage marked a new annual low at the time, although in subsequent years numbers would decline further.

The design for the one ounce silver coin was a familiar image for collectors. The obverse was used for the series of circulating half dollar coins designed by Adolph A. Weinman. Liberty is depicted walking forward towards the rising sun, with hand outstretched and a bouquet of olive branches. Inscriptions read "Liberty" and "In God We Trust".

The reverse design featured a heraldic eagle with thirteen stars above designed by John Mercanti. This design had been used for the bullion and proof Silver Eagles since the series began in 1986. Inscriptions read "United States of America", "1 oz. Fine Silver", and "One Dollar". The motto "E Pluribus Unum" appears on a ribbon in the eagle's beak.

The 1992 Proof Silver Eagles were priced at $23.00 and offered for sale directly from the United States Mint. The coins were packaged in a protective capsule placed within a velvet lined case and outer box. A certificate of authenticity was included with each coin.

During 1992, the price of silver fell steadily after experiencing a price spike in mid-January. After trading as high as $4.33 per ounce, silver fell steadily for the remainder of the year and closed at just $3.67 per ounce.