1998 American Gold Eagle
The 1998 Gold Eagle saw mintages for the gold bullion coins soar to new heights. The demand was driven by uncertainty surrounding the approach of Y2K, which would continue into the following year. The mintage for the 1 oz bullion coin reached the highest level ever at over 1.4 million coins produced. Also particularly in demand was the 1/10 oz. size coin, which had a mintage of over 1.3 million.
The 1998 Proof Gold Eagles did not experience a rise in demand, but the opposite occurred as mintage sunk. Temporary lows were reached across several denominations. The US Mint offered these collectible proof bullion coins as individual 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz options, as well as a combined Four Coin Set. As with prior years, these proof coins were produced at the West Point Mint and carried the “W” mint mark.
Despite the higher demand for gold bullion, the price of gold remained relatively flat during the year. It started out around the $285 level, rose as high as $315 before falling as low as $275, and then finishing the year at $287. The cumulative average price for the year was $294 per ounce.
1998 Gold Eagle Specifications
Date: 1998
Mint Mark: none (bullion), W (proof)
Composition: 91.67% gold, 3% silver, 5.33% copper
Weight ($5 Coin): 0.1091 troy oz (3.393 grams)
Diameter ($5 Coin): 0.650 inches (16.50 mm)
Thickness ($5 Coin): 0.049 inches (1.26 mm)
Designers: Augustus Saint-Gaudens (obverse), Miley Busiek (reverse)
1998 Gold Eagle Mintage
Bullion Mintage: 1,468,530 (1 oz), 169,029 (1/2 oz), 309,829 (1/4 oz), 1,344,520 (1/10 oz)
Proof Mintage: 31,427 (1 oz), 30,427 (1/2 oz), 34,417 (1/4 oz), 48,428 (1/10 oz)
1998 Gold Eagles For Sale
