The Gold Eagle
is a US gold bullion coin, first minted in 1986 by the United States Mint. The coin is produced in different denominations (1, 1/2, 1/4, and 1 ounce), and the US government guarantees that all bullion coins contain the stated amount of gold
. Under US law, gold must be produced from sources in the US, and wear resistant coins are produced by adding copper and silver to the alloy. This alloy is known as crown gold, and the coin is produced from 22-karat gold. The US Congress has authorized its mintage, while content and weight is backed by the official mint.
The coin’s obverse side features Lady Liberty, holding an olive branch and z torch, with her hair flowing. Augustus Saint-Gaudens is the designer while sculptur Milley Busiek has created the reverse design. It depicts a female eagle and her hatchlings in a nest, with a male eagle flying above them with an olive branch.
While the idea to produce the coin was presented to the Gold Commission of President Reagan in 1981, the Gold Bullion Act of 1985 was enacted four years later. First introduced in 1986, the coin enjoyed a remarkable popularity. At present, this bullion coin
is among the most popular coins among collectors and investors in the US. More than 13 million 1-ounce coins have been produced and distributed since then. Close to 1.5 million coins were produced in 2009 alone. The mint established an allocation system in 2008, because it was difficult to keep up with the high demand.
The price of each coin is determined by the spot price, with a premium added per coin. The spot price can be found in all major papers, and is reported every working day. Network television and radio channels also report the spot price.
The Gold Eagle coin is offered in various sizes and each of them contains 91.67 percent gold, 5.33 percent copper, and 3.00 percent silver. The 1/10 oz coin has thickness of 1.99 mm and a diameter of 16.5 mm, and its face value is $5. The one ounce coin has thickness of 2.87 mm, a diameter of 32.7 mm, and its face value is $50. The coins produced between 1986 and 1991 have Roman numerals while those from 1992 on are dated with Arabic numbers. The legal values of coins reflect their monetized value and issue, with Gold Eagle coins being legal tender for private and public debts. The intrinsic value of coins does not correspond to the face value and is higher, determined by the gold price and the coin’s troy weight.
The American Silver Eagle was originally minted in 1986 by the United States Mint and is the US official silver bullion coin
. It comes with a face value of $1 and in one ounce size, containing 99.99 percent pure silver. The Silver Eagle has thickness of 2.98 mm and a diameter of 40.6 mm. In addition to this bullion variety, the Mint has created an uncirculated version and a proof version, intended for collectors. The silver coin is minted at three different locations – the West Point Mint, the San Francisco Mint, and the Philadelphia Mint. Apart from being an investment instrument, some use the Silver Eagle coin as a way to fund their individual retirement accounts.
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