After struggling to gain traction for years, the 1998 Silver American Eagle coin from the United States Mint began to show signs of life among both investors and collectors. For one of the first times in the 1990s, both the bullion and proof coins posted gains in production in 1998. Much of this was due to the oncoming Y2K crisis and the uncertainty surrounding its impact. The 1998-P Proof Silver American Eagle coin is now available on Silver.com.
- There are 1,482 coins in this condition and certification level!
- Thirteenth annual release of the Proof Silver American Eagle coin!
- Ships in a plastic slab to protect the coin’s condition.
- Consists of one troy ounce of .999 fine silver.
- Face value of $1 (USD) is fully backed by the US government.
- Earned a grade of PF70 from the Numismatic Guaranty Corporation.
- Available with a UCAM finish.
- Features the “P” mint mark of the Philadelphia Mint.
- Walking Liberty graces the obverse.
- Heraldic eagle of the US on the reverse.
For the second consecutive year, the Silver American Eagle showed signs of growth in the overall mintage. In fact, both the proof and bullion versions of the coin experienced jumps in mintage of the coins for 1998. The bullion coin jumped modestly from 4.295 million to 4.847 million.
The 1998-P Proof Silver American Eagle coin jumped from 435,000 coins to 450,000 coins in 1998. The United States Mint lowered the maximum mintage level for the Proof Silver American Eagle in 1998 to 450,000, from a higher level of 500,000 in previous years, making 1998 just the second year since 1990 that the US Mint saw a sellout of the maximum mintage.
Just as significant for the Silver American Eagle proof in 1998 was the increase in the premium price charged by the US Mint. For the first time since 1986, when the coins were introduced, the US Mint increased the premium from $23 to $24.00 for original purchases.
On the reverse of these silver coins you’ll find John Mercanti’s modern version of the US heraldic eagle. The obverse features the Walking Liberty design from Adolph A. Weinman, which was originally created in 1916.
Each coin in this product listing is available from Silver.com with a PF70 grade. NGC stipulations require these coins exhibit full, original mint luster and no detracting flaws in order to earn this grade.
Please direct your questions to a Silver.com associate at 888-989-7223, connect with us via our live chat, or email us.