Microwave frequency standards based on buffer gas-cooled /sup 171/Yb/sup +/ ions have demonstrated high stability but are limited in accuracy by the second-order Doppler shift caused by thermal motion. We have previously obtained near shot noise-limited Ramsey fringes with a laser-cooled ion cloud. Here, we present measurements confirming that the ion temperature remains <1 K throughout the microwave interrogation period for a Ramsey pulse separation of up to 10 s and longer. The potential stability of the ions as a frequency standard is better than /spl sigma//sub y/ (/spl tau/)=5/spl times/10/sup -14/ /spl tau//sup -1/2/, and estimates of the systematic offsets to the clock frequency and their uncertainties indicate that a total uncertainty of four parts in 10/sup 15/ or better is achievable.