Jun 8, 2018 12:40 pm
There’s the South African Krugerrand, the Canadian Maple Leaf, the Swiss Vreneli, and so many more – but it’s the American Gold Eagle that soars above them all. Between 1986 and 2017, well over 40 million American Gold Eagles have been sold.
Why the American Gold Eagle?
One of the biggest reasons could be historical. Before 1986, ownership of gold bullion by US citizens was outlawed from 1933-1974. In 1975 however, there were no American gold bullion coins, hence the Krugerrand was the most popular coin in the world. However, the US Mint began producing gold and silver coins again, thanks to a recommendation presented by Congressman Ron Paul, in conjunction with his work with the Gold Commission set up by President Reagan in 1981. Hence, the American Gold Eagle became the first annually minted gold coin produced in the United States, and its popularity picked up from there.
The Mark of Lady Liberty
The American Gold Eagle features a dual faced design. On one side is the image of a bald eagle, flying towards its nest where a baby eagle sits waiting. It also features the phrases “United States of America”, “In God We Trust” and “e pluribus unum”, which means “out of many, one” and is the motto of the United States. On the other side is the image of lady liberty, holding a torch aloft in one hand, and with an olive branch in the other. The word “liberty” is also found on the coin face, as is the date of minting. The dates appear in roman numerals on the 1986-1991 coins, but from 1992 onwards they are shown in Arabic numerals. As the design of the American Gold Eagle has not changed since 1986 other than the numeral system change, sellers can be sure that each gold coin is mutually interchangeable and of equal worth in terms of size and purity.
Quality, Purity, and Trust
American Gold Eagles are 22K gold and are made up of .9167 gold, .0533 copper and .03 silver. The one ounce American Gold Eagle coin contains an ounce of pure gold. However, it is worth noting that because it is 91.67% gold, the coin itself weighs slightly more than one ounce (1.0909 oz.) American Gold Eagle coins are produced by the US Mint, which is a division of the US Treasury, the most powerful treasury in the world, which ensures the quality and purity of each minted coin. They are minted in only two locations – the United States Philadelphia and West Point mints. These coins come in different sizes – there are 1/10, 1/4, 1/2 and 1 ounce sized coins for greater convenience of investors.
Legal Tender, Higher Resale Value
The American Gold Eagle is legal tender of the United States of America. The one ounce coin carries a face value of $50. There are also 1/2 oz. ($25), 1/4 oz. ($10) and 1/10 oz. ($5) American Gold Eagle coins. Furthermore, as a collector’s item, some American Gold Eagles from certain dates which are rarer than others command a much higher price than the others.
Do you have an American Gold Eagle and are looking to sell it? Send it to a professional jewelry buyer to make sure you aren’t selling it for less than what it could fetch. At Global Gold and Silver, we run background checks on all items brought in to test for any possible increased value based on historicity, rarity and so forth. Chat with us today!