The 2004 Proof Silver Eagle was released during a year when the price of silver would finally start to make some headway towards higher ground. Leading up to the release of the coin, the price of silver moved from $6.00 per ounce to more than $8.00 per ounce. However, by the time the coins went on sale on April 27, 2004, the price had retreated back to $6.27 per ounce. Later in the year the price would reattain the $8.00 level and eventually close the year at $6.81.
Due to the higher intrinsic value of the coins, the United States Mint raised the price of the 2004 Proof American Silver Eagle to $27.95 per coin. For the past several years, the price had remained constant at $24 per coin. The maximum authorized mintage for the offering was also increased to 850,000 coins.
Despite some additional interest generated by rising silver prices, the offering failed to achieve a sell out. The final audited mintage for the 2004 Proof Silver Eagle was 801,602.
The coins were struck at the West Point Mint with the "W" mint mark and the standard deep cameo finish. This issue remains relatively available for collectors today, although the price has increased in line with the value of silver.
 |
 2004-W AMERICAN SILVER EAGLE DOLLAR PR69DCAM PCGS 69  US $79.00
|
 2004 W AMERICAN EAGLE ONE OUNCE SILVER PROOF COIN WITH COA AND BOX US $89.99
|
 2004 Proof Silver Eagle in mint packaging. US $52.55
|
