1998-P Proof American Silver Eagle

in Proof Silver Eagles

For thirteen years, the United States Mint had been issuing coins in the series with the release of the 1998-P Proof American Silver Eagle. Demand for the coin was still relatively light but did show improvement over the previous year.

The 1998 Proof American Silver Eagle was struck at the US Mint’s facility in Philadelphia. This is the same location responsible for striking the standard Proof Silver Eagles since 1993. Before that, the coins were struck at the US Mint’s facility in San Francisco.

To indicate the minting facility, a ‘P’ mintmark may be found on the reverse side of the coin. The mintmark is located to the bottom left of the heraldic eagle with shield design that was originally created for the American Silver Eagles by US Mint engraver John Mercanti.

Shown on the obverse of the coin is a design that many consider to be one of the most beautiful ever struck on an American coin. It features "Walking Liberty" as originally designed by artist Adolph A. Weinman for the 1916-1947 half dollar coin. Both "Walking Liberty" and the eagle designs have been used on the Silver Eagles since their debut in 1986 and continue to be featured on the coins today.

Each Proof Silver Eagle is struck from one ounce of .999 fine silver with the small remaining balance being of copper. The coins have a diameter of 40.60mm and features a proof-like finish which features frosted devices and a mirror-like background.

Proof Silver Eagles have been (and continue to be) one of the most popular annual US Mint products offered.

1998 Silver Eagle Mintages

As previously mentioned, demand for the 1998-P Proof American Silver Eagle was relatively light with the final mintage coming in at 450,728. This was an increase of 15,378 from the previous year. Each 1998 Proof American Silver Eagle originally sold from the US Mint for $24.00 which was an increase of $1 from the price of the previous several years.

Bullion Silver Eagles also showed improvements in their mintages for the year with the US Mint recording a total of 4,847,549 year-dated strikes sold. The previous year saw 4,295,004 sold. For reference, the average London Fix for Silver for the year was $5.54.

1998-P Proof American Silver Eagles on Sale

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