The 2019-S Enhanced Reverse Proof Silver American Eagle is one of the hottest items on the coin market right now. It's become something of a modern holy grail for collectors. Many lined up at the Baltimore Expo on November 14 to buy the coin from the U.S. Mint's store at the show, and many more waited online for hours at the www.USMint.gov website to buy the coin when it was released for sale that day at 12 noon eastern.
There were more disappointments than there were cheers on that busy day of sales, with only 30,000 examples offered and the U.S. Mint's ordering limit of just one per household. Many coin dealers circumvented that rule by paying non-collectors $50, $100, and even more to buy the coins as proxies. Those who managed to get their hands on these popular silver eagles are quite happy -- these beautiful coins exponentially increased in value over just a matter of hours. Originally selling from the U.S. Mint for $65.95, by lunch time some the 2019-S Enhanced Reverse Proof ASEs were trading among dealers for as much as $900 for examples by the afternoon of November 14 at the Baltimore Expo.
As of this past weekend, examples are selling (not merely listed) for $2,799 on eBay, with the vast majority of these pieces selling like hotcakes for $999. Of course, the question now is how long will these astronomical prices be sustained?
Surely, it's not impossible that the 2019-S Enhanced Reverse Proof American Silver Eagle could become the next major key date for the American Silver Eagle series, much like the similarly rare 1995-W Proof American Silver Eagle that remains a $3,000+ coin nearly 25 years after its issuance. But we'll have to see how the market shakes out for the 2019-S Enhanced Reverse Proof over the long term. Time will tell if it is still trading at four figures in five, 10, or 25 years. But, it certainly is the darling of the marketplace for today.