The American Eagle Gold Coin is one of the most iconic coins in the world. It has been produced by the United States Mint since 1986. It is a favourite among investors due to its timeless design and guaranteed gold content. In this article, we’ll take a look at where the American Eagle Gold Coin originated and why it is popular.
History of the American Eagle Gold Coin
The American Eagle Gold Coin was first authorised by Congress in 1985 as part of the Liberty Coin Act. The goal was to create a coin that could compete with foreign gold coins like the Krugerrand. The first American Eagles were minted in 1986, and they quickly became popular among collectors and investors alike for their beauty, purity, and status as official U.S. legal tender coins.
Design of the American Eagle Gold Coin
The obverse side of the first coins featured Lady Liberty walking confidently against a rising sun, holding an olive branch in her right hand and holding out her left hand as if presenting something to viewers. This image was taken from Augustus Saint-Gaudens’ 1907 double eagle design which is considered one of America’s most beautiful coins ever made.
On the reverse side of the early coins is an eagle flying high against a backdrop of 13 stars representing each original colony. The radiating rays symbolise national strength emerging from behind clouds. The design was inspired by Adolph Weinman’s 1916 half dollar “Walking Liberty” image. Both sides are inscribed with “United States Of America” along with other details about weight, fineness (gold purity), year minted, face value, etc.
In honour of the 35th anniversary of the American Eagle, a new design was introduced mid way through 2021. Both the Gold and Silver coins received an update in design. The new obverse design of the Gold Eagle features Lady Liberty with flowing hair, holding a torch and an olive branch. The overall look of this side feels more pronounced. The reverse has changed the most, featuring a side on close up of the majestic bald eagle.
Minting Process
The American Eagles are minted at four locations across the United States; West Point, Philadelphia, San Francisco, and Denver. All four locations produce their own versions of the coins with their own unique markings (W for West Point, P for Philadelphia, S for San Francisco and D for Denver). Each location also produces its own proof version which is specially struck more than once to give it an extra shine that makes it more desirable amongst collectors.
Composition of The American Eagle Gold Coin
Today’s modern-day American Eagles are struck from 22 carat gold alloy containing 91.67% pure gold plus small amounts of other metals such as copper (3%) and silver (5%). Their alloy composition means that Gold Eagles are harder wearing than pure gold coins.
1oz Coin – 33.93 grams of 22 ct gold. 916.7 purity. Legal Tender in USA. Face value of $50.
1/4oz Coin – 7.775875 grams of 22 ct gold. 916.7 purity. Legal Tender in USA. Face value of $10.
1/10oz Coin – 3.11035 grams of 22 ct gold. 916.7 purity. Legal Tender in USA. Face value of $5.
Conclusion
The American Eagle Gold Coin is an iconic piece of history that carries with it great significance due to its timeless design and guaranteed gold content backed by the US government. Investing in these coins can be beneficial for both novice investors as well as experienced investors looking for portfolio diversification.
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