For 2nd Straight Year, Mint Reduces Maximum Mintage & Individual Denominations Available

Silver Proof Eagle Price Increases for First Time Since 1986

Washington, D.C. — The U.S. Mint today announced a reduction in prices for the 1998 Proof Gold American Eagle Coins to 1990 levels and, for the second straight year, reduced maximum mintages and quantities of the individual denominations available. The Mint, also for the second consecutive year, is limiting quantities of the popular Four Coin Set at 25,000 when the coins go on sale March 27.

The one-ounce proof gold American Eagle will sell for $570 (down from $589); the half-ounce for $285 (down from $299); the quarter-ounce for $150 (down from $159); the tenth-ounce for $70 (down from $75) and the Four Coin Set for $999 (down from $1,025). The proof silver American Eagle one ounce coin will sell for $24 (up from $23), the first price increase for the Silver Eagle time since the program began in 1986.

“We looked at the substantial fall in gold prices in recent months and concluded that we needed to share these lower costs with our customers,” said Mint Director Philip N. Diehl. “On the other hand, silver prices have risen in the past year, and given the fact we have not raised proof Silver Eagle prices in 12 years, we decided the time had come to do so.”

Already at historically low levels last year, overall 1998 proof gold Eagle mintages have been reduced about 12 percent:

Coin ’97 Maximum
Mintage
’97 Individual
Coins Available
’98 Maximum
Mintage
’98 Individual
Coins Available
1 ounce 45,000 10,000 35,000 10,000
_ ounce 38,000 8,000 32,000 7,000
1/4 ounce 45,000 15,000 36,000 11,000
1/10 ounce 45,000 15,000 45,000 20,000
4-Coin Sets 30,000 25,000
Silver 1 ounce 500,000 495,000 450,000

Sales of proof gold Eagles will end December 31,1998, and Proof Silver Eagles will be sold while supplies last. The Mint reserves the right to limit quantities and to stop accepting orders. Coins may be delivered in multiple shipments at different times.

For general information about proof Eagles, phone (202) 283-COIN. Starting March 27, phone 1-800-USA-MINT to order.
Contact: Press inquiries:  Michael White (202) 354-7222 Customer Service information:  (800) USA MINT (872-6468)