American Eagle Gold Bullion Coins were first minted in the USA in 1986 under the Gold Bullion Coin Act of 1985 which required all the gold used in the making of the Eagles to be freshly mined in the United States. They were minted with a purity of .9167 which is 22 karat gold but the gross weight is 1.0909 oz therefore the pure gold content is exactly one troy ounce. The US government guarantees the weight and purity stamped on each coin which enables the American Gold Eagle to be bought or sold easily anywhere in the world making it a very popular bullion coin to own. The Gold American Eagle is the official gold bullion coin of the USA and therefore it can be included in an Individual Retirement Account Gold IRA.
Design Of The Gold Eagle Coins. For the obverse design (face side) the US Mint made the decision to replicate the original design by Augustus Saint- Gaudens of the 1907 $20 St Gaudens Gold Double Eagles. Simply called Liberty it shows a full length image of Lady Liberty with an olive branch in her left hand while holding the torch in her right, the word “Liberty” at the top and the year of production on the right side. The date on the Gold American Eagles were originally minted using Roman numerals but the US Mint decided to switch back to the standard way for the 1992 minting onwards.
The reverse design by Miley Busiek shows a male eagle returning to the nest containing its family. Also, the words “United States Of America” at the top, the Latin “E Pluribus Unum” meaning “One from many” to the left, “In God We Trust” to the right and “1oz. Fine Gold-50 Dollars” at the bottom.
American Eagle Proof Gold Coins are produced by the US Mint for the benefit of collectors. This requires a special minting process where the blanks are manually fed into dies which are produced for the proof coin striking. This type of minting requires the blanks to be struck several times which causes an exceptional finish to the coin. After inspection the Gold Eagle proof coins are sealed in a special capsule and mounted in a velvet case along with its certificate of authenticity.
American Eagle Proof Gold Sets. The proof versions of the American Eagle gold coins are produced in four denominations and are available as a proof set as well as the single $50 1 oz size. The $50 proof coin weighs 1.0909 troy oz, the $25 proof coin weighs 0.5454 troy oz, the $10 proof coin weighs 0.2727 troy oz and the $5 proof coin weighs 0.1091 troyoz. All four proof coins are designed identically with the exception of the weight and face value on the reverse, for example, “½ oz. Fine Gold-25 Dollars”. These proof Gold Eagle coins also have the additional W mint mark below the date which stands for West Point Mint in New York.
Specifications And Composition. Similar to bullion bars many popular gold bullion coins have a purity level of .9999 fine but not all of them. The American Eagle gold bullion coin has a purity of .9167 which is lower than the American Buffalo gold bullion coins for example but the Gold Eagle trades very close to the price of the Gold Buffalo because the Gold Eagle is heavier and therefore they both contain exactly the same quantity of pure gold, one troy ounce.
The Gold Eagle Coin contains 91.67% gold, 3% silver, and 5.33% copper to create more durability and making it 22 karat. It should be noted that the price the Gold Eagle coins have always been higher than the spot price of one ounce of gold because of the premium applied by the mint at the time of issue. The US Mint sold the 2012 American Eagle $50 1oz gold coin for $1,835 which was more than $100 over spot.