A novel hinge assembly for eyeglasses is provided wherein a first structural member for the hinge structure is formed in a first molding step and a second structural member of the hinge structure is formed directly over a portion of the first structural member in a second molding step. The present invention utilizes in-mold-assembly techniques to reduce the assembly steps required to form such a hinge assembly while further resulting in a hinge assembly that has increased adjustability and utility. Specifically, the overmolded components form a ball and socket type joint allowing a large degree of lateral rotation in one direction and a limited amount of freedom in a second direction. This hinge allows the temple portion of the eyeglasses to be folded against the brow bar and the inclination angle between the temples and the brow bar to be adjusted.