Owner Comments:
The obverse design of the Silver Eagle is taken from the Walking Liberty Half Dollar. This coin was issued for circulation in the United States from 1916 to 1947.
The coin’s obverse, Adolph A. Weinman's 1916 second winning design chosen by The Commission of Fine Arts was actually inspired by a real person named Elsie K Stevens. Weinman sculpted a bust of her 3 years earlier in 1913. Mrs. Stevens was a tenant above Mr. Weinman's studio in New York City which is how they met. The Silver American Eagle presents Mrs. Stevens full figure striding left towards the sun carrying branches of laurel and oak in her arms to symbolize both civil and military glory. As Liberty she wears a Phrygian cap on her head and an armored plate on her chest over her gown, with the American flag behind her. Obverse inscriptions are “LIBERTY,” “IN GOD WE TRUST,” and “2008.”
The reverse of the coin, featuring a heraldic eagle, was designed by retired 12th US Mint Chief Engraver John Mercanti specifically for the series.
In 1974, John M. Mercanti joined the United States Mint as a sculptor-engraver after working as an illustrator. There he met his mentor Frank Gasparro, 10th Chief Engraver of the US Mint and reverse designer of the Kennedy Half Dollar. Frank taught John everything he new about coin design and on July 9, 1986, John Mercanti received the opportunity to make a big name for himself in official US coinage. John won an open competition for the coin design and was ultimately responsible for designing the reverse of the American Silver Eagle. After review by the Commission of Fine Arts, Mercanti's design was approved by James A. Baker III, the current Treasury Secretary and production of the American Silver Eagle began on October 29, 1986 at the San Francisco Mint.
The 2008 Silver Eagles had an unexpected sell out in August, which resulted in an immediate jump in secondary market prices. The reason behind the early sell out was the fact that the US Mint had to use all incoming silver blanks for production of bullion coins, and could not strike additional proof or burnished coins. By law, the bullion coins must be produced in quantities sufficient to meet public demand, while the collector coins are not legally required.
The US Mint released the 2008 Burnished Silver Eagle on March 17th, 2008. The release day price was $25.95, silver was priced at $20.11. Sales for the 2008 Burnished Eagle reached 533,757 coins sold.
Sources: US Mint, Guide to American Silver Eagle Coins, Key Date Coins