1998 American Gold Eagle Coins

The 1998 American Gold Eagle Coins experienced unprecedented interest in some of the bullion strikes while Proof Eagles proved to be less exciting.

1998 American Gold Eagle Coins
Mintage: 1,468,530 One Ounce Bullion, 25,886 One Ounce Proof
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Attributed to the concerns with the approaching Y2K, bullion demand excelled but, interestingly enough, the gold market faltered. It continued a slide that began the previous year but took it to even lower levels. The average price of an ounce of the precious metal came in at only $294.24 an ounce. This was down $36.78 from the annual average of 1997.

Design elements of the coins remain unchanged with Augustus Saint’ Gauden’s Lady Liberty gracing the obverse of the coin and Miley Busiek’s design of a family of eagles adorning the reverse.

1998 Gold Eagle Mintage

Bullion Gold Eagle Mintage

Demand for the Bullion Gold Eagles was intense in 1998. In fact, the one ounce and the 1/10 ounce coins experienced mintage levels never before seen under the program. The 1/2 ounce and 1/4 ounce Eagles also sold well, but the inaugural year mintage for those strikes still reigned in the number one spot.

The chart below shows the total mintage of 1998-dated Bullion Gold Eagles:

One Ounce Bullion Gold Eagle 1,468,530
1/2 Ounce Bullion Gold Eagle 169,029
1/4 Ounce Bullion Gold Eagle 309,829
1/2 Ounce Bullion Gold Eagle 1,344,520

Proof Gold Eagle Mintage

Demand for the Gold Proof Eagles dropped for the two largest sizes of the strikes during the year. However, interest in the two smaller sizes improved, especially for the 1/10 ounce Proof Eagle.

The chart below shows the total mintage of 1998-dated Proof Gold Eagles which includes the number sold as part of the Gold Eagle 4-Coin Set (of which 19,568 were sold).

One Ounce Proof Gold Eagle 25,886
1/2 Ounce Proof Gold Eagle 25,374
1/4 Ounce Proof Gold Eagle 29,503
1/10 Ounce Proof Gold Eagle 39,395

Issue Information

The 1998 Gold Eagles were the thirteenth year for the program which debuted in 1986.

Release Date

Bullion Gold Eagles were available for most of the year from the Mint’s network of authorized purchasers.

Issue Price

The Mint’s network of authorized purchasers sold each Bullion Gold Eagle for a small premium above the current spot price of the gold contained within it. With the declining price of gold, the Mint lowered the price it was charging for the Proof Gold Eagles. The 1998 Eagles sold for $570 for the One Ounce Eagle, $285 for the 1/2 Ounce Eagle, $150 for the 1/4 Ounce Eagle and $70 for the 1/10 Ounce Eagle. The 4-Coin Set was reduced to $999.

U.S. Mint Production Facility

A ‘W’ mintmark on the Proof Gold Eagles indicates they were struck at the US Mint’s facility in West Point.

Designer & Sculptor

Designed by Augustus Saint-Gaudens originally for the 1907-1933 Double Eagle Coin, the obverse (heads side) shows a figure of Lady Liberty with her hair flowing. The reverse (tails side) design has a family of eagles with the male soaring above the nest. It was designed by Miley Busiek.

Coin Specifications

(For One Ounce Gold Eagles)

Face Value: $50
Finish: Bullion, Proof
Composition: 91.67% Gold, 3% Silver, 5.33% Copper
Standard Weight: 33.930 g
Standard Diameter: 32.70 mm
Edge: Reeded

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