1998 Platinum Eagles
The Platinum American Eagle program entered its second year of release in 1998. In the prior year, Platinum Eagles proved themselves popular with collectors and investors by selling over 100,000 ounces in less than six months. This more than doubled the initial sales goals that the Mint had set before the series was released.
The 1998 American Platinum Eagles added a new twist. As in the prior year, coins were offered in both uncirculated bullion versions and collectible proof versions. In addition, the same four denominations were offered: one-ounce $100 face value coin, one-half ounce $50 face value, one-quarter ounce $25 face value, and one-tenth ounce $10 face value coins. The change had to do with the reverse design of the proof versions of the coins.
Now the twist, for 1998 the US Mint began a series known as the “Vistas of Liberty.” The new program was scheduled for the next five years to provide rotating reverse designs highlighting national landscapes. These new reverse designs would be used on the collectible proof versions of the coins.
According to then Mint Director Philip Diehl, “The Vistas of Liberty designs will profile the unique character and charisma of our Nation’s diverse landscapes, capturing the spirit and strength of America and its people.”
The 1998 Platinum Eagle design featured a bald eagle in flight off the coast of New England. In the background was a lighthouse on a cliff and the rising moon. The sculptor/engraver for the design was John Mercanti. John Mercanti’s “Portrait of Liberty” remained in use for the obverse design.
The Mint trimmed the total authorized mintage by 36% since the inaugural year of a series usually sells stronger than subsequent years. Pricing for the proof coins remained the same as the prior year. The following table provides the final mintage figures for all denominations of the 1998 Proof Platinum Eagle plus the original issue prices. Information is from the US Mint.
1998 Proof Platinum Eagle Mintages
| Denomination | Mintage | Original Price |
|---|---|---|
| 1 ounce | 4,986 | $695.00 |
| 1/2 ounce | 3,910 | $395.00 |
| 1/4 ounce | 4,947 | $199.00 |
| 1/10 ounce | 9,921 | $99.00 |
| 4 Coin Set | 9,926 | $1,350.00 |
The second table shows the mintages for the uncirculated bullion version of the 1998 Platinum Eagle. Information is from the Red Book.
1998 Bullion Platinum Eagle Mintages
| Denomination | Mintage |
|---|---|
| 1 ounce | 133,002 |
| 1/2 ounce | 32,415 |
| 1/4 ounce | 38,887 |
| 1/10 ounce | 39,525 |
During the calendar year of 1998, the spot price of platinum ranged from a low of $335.00 to a high of $429.00. The cumulative average price for all of 1998 was $372.15.