The American Gold Eagle Coin Series is the official gold bullion investment coin from the US Mint.
When the private ownership of gold was outlawed in 1933, the Gold Reserve Act transferred the seized gold to the US Treasury. The production of gold coins was halted until private ownership became legal again in the 1970s.
The Gold Eagle was created in 1986 after the passage of the Gold Bullion Coin Act of 1985.
The Act reconstituted gold and silver coins as legal tender and ordered the US Mint to create the coins from only newly mined domestic sourced metal.
The coins are minted in a 22k alloy that is historically referred to as “crown gold” which contains 91.67% pure gold. The remainder is a mix of copper and silver which provide added hardness to resist the wear and tear that can be caused by circulation.
American Eagle Gold coins are available in four denominations. Each denomination has a nominal face value which is far below its intrinsic value.
| Gold Eagle Denomination | Face Value | AGW |
|---|---|---|
| 1 oz American Gold Eagle Coin | $50 | 1 troy ounce |
| 1/2 oz American Gold Eagle Coin | $25 | 1/2 troy ounce |
| 1/4 oz American Gold Eagle Coin | $10 | 1/4 troy ounce |
| 1/10 oz American Gold Eagle Coin | $5 | 1/10 troy ounce |
American Gold Eagle Design
The obverse of the coin features a modernized rendition of the Augustus Saint Gauden’s design that graced the $20 double eagle which was minted primarily for international trade from 1907 until 1933. The rendering shows Lady Liberty with long flowing hair. Her right arm is raised and holding her torch proudly, a symbol of enlightenment, shining a path to freedom and liberty. Her left is extended out to her side and holds an olive branch, a symbol of peace.
Obverse Design Changes
From 1986-1991, the year-dates were shown on the front of the coins using Roman numerals for dates. In 1992, a switch was made to using traditional Arabic numbers for year-dates.
Reverse Design Changes
Partway through 2021, the Type-2 design was introduced that shows only the head of an eagle with a piercing eye gazing forward.
Before that, the reverse design portrayed a male eagle holding an olive branch flying above a nesting female eagle and a baby eagle. This is sometimes referred to as the Type-1 design by coin collectors.
Both the Type-1 and Type-2 reverse design include inscriptions for the weight, face value and the mottos commonly found on US currency, “In God We Trust” and the latin phrase “E Pluribus Unum” which means “Out of Many, One”.
American Eagle Denominations
American Gold Eagles are available in four weight denomination (1/10 oz, 1/4 oz, 1/2 oz, and 1 oz). Each is guaranteed for gold content and purity by the United States Government and carries the designation as legal tender currency.
The fractional denominations of the American Gold Eagles are identical in design to the 1 troy oz coin except for the markings that indicate weight and face value.
While Gold Eagles are legal tender in the United States at their face values, the true worth lies in the intrinsic value of the gold from which they are minted.
With Costco now selling 2024 1 oz American Eagle Coins, the number of new investors has increased dramatically. These coins are extremely popular in the bullion market and are probably the most liquid precious metals investment.
The American Gold Eagle is one of the two official US Mint gold coins, the other being the Gold Buffalo series which debuted in 2006.