The American Gold Eagle is an official

gold Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...

bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the

United States Mint The United States Mint is a bureau of the United States Department of the Treasury, Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce, as well as controlling the movement of bull ...

in 1986. Because the term "

eagle Eagle is the common name for the golden eagle, bald eagle, and other birds of prey in the family of the Accipitridae. Eagles belong to several groups of Genus, genera, some of which are closely related. True eagles comprise the genus ''Aquila ( ...

" also is the official United States designation for the pre-1933 ten dollar gold coin, the weight of the bullion coin is typically used when describing American Gold Eagles (e.g., "1/2-ounce American Gold Eagle") to avoid confusion with the pre-1933 coins. This is particularly true with the 1/4-oz American Gold Eagle, which has a marked face value of ten dollars, the same as that of its predecessor.

Details

Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in the United States, alloyed with silver and copper to produce a more wear-resistant coin. In addition, sales of these and other specie coins from the US Mint are mandated, at least in part, to pay off the national debt. The 22 kt gold alloy is an English standard traditionally referred to as " crown gold". Crown gold alloys had not been used in U.S. coins since 1834, with the gold content having dropped since 1837 to a standard of 0.900 fine for U.S. gold coins. For American Gold Eagles the gold fraction was increased again to .9167 or (22 karat). It is authorized by the

United States Congress The United States Congress is the legislature, legislative branch of the federal government of the United States. It is a Bicameralism, bicameral legislature, including a Lower house, lower body, the United States House of Representatives, ...

and is backed by the United States Mint for weight and content. The obverse design features a rendition of

Augustus Saint-Gaudens Augustus Saint-Gaudens (; March 1, 1848 – August 3, 1907) was an American sculpture, sculptor of the Beaux-Arts architecture, Beaux-Arts generation who embodied the ideals of the American Renaissance. Saint-Gaudens was born in Dublin to an Iris ...

' full-length figure of Lady Liberty with flowing hair, holding a torch in her right hand and an olive branch in her left, with the Capitol building in the left background. The design is taken from the $20 Saint-Gaudens gold coin which was commissioned by Theodore Roosevelt to create coins like the ancient Greek and Roman coins. For mint years 1986 to 2021, the reverse design by sculptor Miley Busiek Frost (MB) featured a male eagle carrying an olive branch flying above a nest containing a female eagle and the pair's two eaglets. Frost says that the design is "a symbolic tribute to the American family, senior citizens and young people." Frost’s design drawing was sculpted for the reverse of the Gold Eagle by US Mint sculptor-engraver Sherl Joseph Winter (JW). Hence, on the reverse of these coins, the initials MB and JW are inscribed. In 2021, the US Mint introduced a new reverse design on the American Gold Eagle featuring a close-up head portrait of an eagle. This design was created by US Mint artistic designer Jennie Norris (JN) and sculpted by US Mint medallic artist Renata Gordon (RG). Hence, Gold Eagles from 2021 onwards, show the initials JN and RG on each side of the eagle head design. Norris explains her design inspiration as follows: “''The American Eagle is such a noble bird. I was hoping to capture the intensity of his stare through the close cropping. His gaze speaks of pride and wisdom passed down through generations of time.''”

Specifications

Gold Eagles minted 1986–1991 are dated with

Roman numerals Roman numerals are a numeral system that originated in ancient Rome and remained the usual way of writing numbers throughout Europe well into the Late Middle Ages. Numbers are written with combinations of letters from the Latin alphabet, eac ...

. In 1992, the U.S. Mint switched to

Arabic numerals The ten Arabic numerals (0, 1, 2, 3, 4, 5, 6, 7, 8, and 9) are the most commonly used symbols for writing numbers. The term often also implies a positional notation number with a decimal base, in particular when contrasted with Roman numera ...

for dating Gold Eagles. The , , and troy oz coins are identical in design to the 1 troy oz coin except for the markings on the reverse side that indicate the weight and face value of the coin (for example, ''1 OZ. fine gold~50 dollars''). The print on the smaller coins is, therefore, finer and less legible than on larger denominations. The 22k gold alloyed makeup of Gold Eagle coins stands in contrast to the 24k Gold Buffalo Coin, which is minted entirely from .9999 fine gold, and therefore weighs less (1 troy oz or 31.1035 grams gross).

Value

The market value of the coins is generally about equal to the market value of their gold content, not their face value. Like all commodities, this value fluctuates with market forces. The face values are proportional to the weights except for the 1/4 oz coin. While their actual selling price (purchasing power) varies based on the spot price of gold, these coins carry face values of $5, $10, $25, and $50. These are their legal values, reflecting their issue and monetized value as "Gold Dollars", as opposed to standard bullion. They are

legal tender Legal tender is a form of money that Standard of deferred payment, courts of law are required to recognize as satisfactory payment in court for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything ...

for all debts public and private at their face values. These face values do not reflect their intrinsic value which is much greater and is mainly dictated by their weight and the price of

precious metal Precious metals are rare, naturally occurring metallic chemical elements of high Value (economics), economic value. Precious metals, particularly the noble metals, are more corrosion resistant and less reactivity (chemistry), chemically reac ...

. For example, on September 13, 2019, the U.S. Mint sold the 2016 one-ounce coin ($50 face value) at $1,510.00. Since the coins can be "paid" only at a disadvantage to the payer, they are generally held as collectibles rather than money, and for US taxpayers are subject to a high capital gains tax rate unless held in an

individual retirement account An individual retirement account (IRA) in the United States is a form of pension provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's ...

. In addition to standard bullion coins (sometimes referred to as "scruffies"), the United States Mint also produces proof and uncirculated versions for coin collectors. These coins carry the Mint's mark ("W") beneath the date, and are produced exclusively at the West Point Mint in

West Point, New York West Point is the oldest continuously occupied military post in the United States. Located on the Hudson River in New York (state), New York, General George Washington stationed his headquarters in West Point in the summer and fall of 1779 durin ...

(formerly the West Point Bullion Depository).

Mintages

These final audited mintages from the U.S. Mint include coins sold both individually and as part of multi-coin sets.

Annual bullion mintage

Annual proof mintage

During the series' inaugural year, the Mint only issued 1 troy oz proofs. It added troy oz proofs in 1987 and since 1988 has issued proofs in all four denominations. In 2009, due to increased worldwide demand for precious metals that caused supply shortages and the Mint's legal obligations to produce bullion versions, proof and uncirculated versions of the Gold Eagle were not issued.

Annual uncirculated mintage

In 2009, the allocation of blanks for the legally required production of bullion Gold Eagles affected both uncirculated coin and proof availability. This suspension continued into 2010 for the uncirculated version. When production resumed in 2011 (without the fractional denominations which had been discontinued in 2008), it was met with a weak collector response. The United States Mint provided audited and finalized annual production sales reports between 2006–2012. Afterwards, they published production sales numbers in the weekly cumulative sales reports. The mintage number is the Last Known Sale (LKS), which is the last sales figure published for that product before it was dropped from the sales report.

References

External links

* * {{Augustus Saint-Gaudens Gold Eagle Currencies introduced in 1986 Goddess of Liberty on coins Eagles on coins Bullion coins of the United States Gold bullion coins