The American Gold Eagle 1 oz.
The United States has a long and storied history when it comes to minting gold coins. In fact, the U.S. used to buy gold as a currency from 1795 to 1933. However, in 1933, minting was stopped by executive order. The U.S. did not mint a single gold coin from 1933 until 1986. It was actually illegal for U.S. citizens to own gold bullion from 1933 to 1974.
In response to the popularity of the South African Krugerrand and Canadian Maple Leaf, Congress passed the Bullion Coin Act of 1985, and in 1986, the American Gold Eagle coin was born. The Treasury was directed to produce and distribute non-circulating gold coins of various sizes. The coins by law needed to contain gold from American sources.
With a guarantee from the United States government backing its weight and gold content, the American Eagle quickly became the world’s most popular gold coin for investing.
Design and Specifications
The American Eagle family of coins contains the 1/10oz, 1/4oz, 1/2oz, and 1oz sizes. They all contain their exact amount of prescribed gold, but the coins are actually heavier than the weights listed above. They all have copper and silver blended in to increase strength and durability, and the end result is a 22-karat gold coin. This is the reason that the American Eagle coin is larger in size than its 24-karat counterpart, the Canadian Maple Leaf.
The front, or obverse of the coin’s design is derived from the $20 Saint Gaudens gold coin minted from 1907 to 1933. It depicts the “Striding Liberty” image, created by sculptor Augustus Saint Gaudens, along with the year of striking. From 1986 to 1991, the year was struck in Roman Numerals, and then in 1992, the mint was instructed to use Arabic Numerals, which are still used as of 2012.
The back, or reverse of the coin, designed by sculptor Miley Busiek, features a male eagle in flight with a tightly clutched olive branch, flying toward its mate and hatchlings in their nest. The reverse also features the coin’s gold content, as well as its face value.
Gold Content or Face Value?
Gold bullion coins are minted in various countries around the world and typically depict a dollar value somewhere on the coin. However, this dollar, or face value has nothing to do with the coin’s real or intrinsic value. It is really more of a tradition.
A 1oz gold American Eagle coin, for example, has a face value of $50, but the actual value changes every single day, right alongside the gold spot price. No one would ever redeem the coin at its face value unless the gold value somehow dropped below the face value.
Ordering Gold Eagles
Ordering your own gold American Eagle coin is very simple. Just add the number of coins you would like to order to your cart, and we will ship them to your door.