The historic American Gold Eagle coin isn’t just any coin– in addition to being big and beautiful, it’s one of the official gold bullion coins of the United States of America. While the face value of these coins varies from $5 to $50, the value of the coin fluctuates with the price of gold. Since this collectible gold coin is nearly 92% gold or 22-karat, the 1-oz. coin is priced similarly to one ounce of gold.
The American Gold Eagle coin is highly desired because of its purity and quality. These gold coins– timeless in their design– are the perfect tribute to the American Dream. American Gold Eagle coins are ingrained into American culture, so much so that you might remember the television commercials and extended infomercials. Even if you already know that American Gold Eagle coins are the favored bullion coins among investors, it’s handy to know why these coins are so valuable.
Conveniently, Gold Eagles are the only gold bullion coin with less than .999 millesimal fineness that is IRA-eligible. Generally, only 24-karat gold coins (or .999 millesimal fineness) can be part of a Precious Metals IRA, but the IRS makes an exception for Gold Eagle coins. These pieces of history are 22-karat gold, which translates to 0.916 fineness, with amounts of silver and copper added for resistance in usability. Since the gold content is lower, you can sell the American Gold Eagle coin at a lower premium than gold, in addition to being physically sturdier. This exception from the IRA can likely be attributed to the memorabilia’s position as the official bullion coin of our U.S. government.
The renowned Gold Eagle coin is guaranteed to contain gold sourced in the United States. Since the coins were introduced through the Gold Bullion Coin Act of 1986, they must adhere to the stipulations of the act, including the inclusion that American Gold Eagle coins can only include metals sourced domestically. Since there can be no exceptions to this fact, the quality of this specific coin is guaranteed and reinforced. And for some patriotic investors, they take solace in the fact that the official commemorative coin of the U.S. is produced with gold mined by Americans, and inside of American borders.
For the first six years of production, American Gold Eagle coins included Roman Numerals in the minting date. It wasn’t the first time that the U.S. Mint paid tribute to ancient empires with a sleek design feature, but the American Gold Eagles’ Roman Numerals act as an important authenticity stamp for coins between the years 1986 to 1991. Since 1992, Gold Eagles’ mint dates are marked in standard Arabic numerals.
If American Gold Eagle coins look familiar to you, it’s because the U.S. Mint recycled the design! The American Gold Eagle coin features the “Double Eagle” image under a banner of the United States of America– the same two eagles that were featured on the “Double Eagle” coin that was minted between 1907 – 1933. And Lady Liberty on the other side? She’s one of the most iconic visions in the American Dream. You could safely say that the “Double Eagle” coin was the predecessor to the American Gold Eagle coin, and although it was put out of production in 1933, the legacy remains.
If you are wondering how to invest in gold the best possible way, the American Gold Eagle is one of the safest option.