The 1989 uncirculated Silver Eagle saw a slight bump in demand over the previous year. However the price of silver saw a slight drop, in just about perfect symmetry. Silver had gone from $6.53 per ounce in 1988 to $5.51 in 1989, a drop of just over a dollar per ounce.
To be sure, this silver price dip was right in line with what many in Congress said would happen at the inception of the Liberty Coin Act of 1985, and not at all a cause for concern. The fact that Silver Eagles would continue to sell throughout the 1990s, and that silver prices have since risen to new highs, is a testament to the resilience of precious metal investments.
Mintage numbers were close to the previous year at 5,203,327. This marked the first year that speculators began to get serious about their bullion investment, and were quietly tucking away Silver Eagles whenever they had the spare funds. Perfect MS70 specimens of uncirculated Because of this, silver eagles are marginally more available in the 1989 year than in previous years.
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