The 1998 American Silver Eagle bullion coin was the last issue in the series to have a mintage under five million coins. From 1999 onward, demand for the American Silver Eagle increased significantly, leading to levels not seen since the program’s first full production year in 1987. The United States Mint struck a total of 4,847,549 silver bullion coins at the San Francisco and West Point Mints. The coins did not carry a mintmark and are often mistaken as products of the Philadelphia Mint.
Certified Population and Market Trends
The certified population of 1998 American Silver Eagles has been increasing at a rate of approximately 5,000 coins per year for the past decade. The combined certified population for the three leading grading services now exceeds 150,000 coins, with NGC holders accounting for 136,000 of them.
Milk spotting remains a common issue for American Silver Eagles of this era. Collectors should be cautious when purchasing coins with milk spots, as they may lose their original characteristics after being dipped.
Insight on “First Strikes”
PCGS certified its first “Monster Box” of 1998 American Silver Eagle “First Strikes” in 2015, 17 years after production. This certification marked a significant moment for collectors and dealers, showcasing the enduring interest in these coins.
Key Market Data and Noteworthy Specimens
The top populations for the 1998 American Silver Eagle include PCGS MS70 (462 coins), NGC MS70 (3760 coins), and CAC MS70 (69 coins). Notable sales of these coins have been recorded, with some fetching significant prices at auctions and online sales.
Detailed Design Description
The obverse of the 1998 American Silver Eagle features Adolph A. Weinman’s iconic Lady Liberty design, showcasing a full-body figure draped in an American flag. The reverse, designed by John Mercanti, features the Heraldic Eagle with symbolic elements such as stars and the national motto. The edge of the coin is reeded for added security and aesthetic appeal.
Coin Specifications
– Year of Issue: 1998
– Mintage: 4,847,549
– Alloy: 99.9% silver
– Weight: 31.1 g
– Diameter: 40.6 mm
– Edge: Reeded
– Obverse Designer: Adolph A. Weinman
– Reverse Designer: John M. Mercanti
Overall, the 1998 American Silver Eagle holds a special place in numismatic history, reflecting the changing demands and market trends within the coin collecting community.