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United States Gold Eagle Coins
They are created by the United States Mint in order to compete with other international coin manufacturing companies. The American Gold Eagle Coin is available in four different weights: 1/10, 1/4, 1/2, and 1 ounce of gold.
As well as its weight in pure 24-karat gold, the coin contains .9167 fine (or 22-karat) gold which gives it added durability; this means that although it is still a soft metal that will wear down over time if used jaggedly or roughly, it will not wear away quite as quickly as normal gold.
The weight and purity of the American Gold Eagle Coin are guaranteed by the United States Mint which makes it an attractive investment to those who want to buy gold as a means of saving money for their future needs. The first American Gold Eagle Coins were minted in 1986; they featured Lady Liberty on the front and an eagle on the back perching over a pine branch and arrows emblematic of America’s strength and resilience as a nation.
The exception to this design was made in 1999 when commemorative coins were issued that were emblazoned with images of eagles; these collectible coins were individually prefixed with “W” (for the West Point Mint) or ‘P’ (for the Philadelphia Mint).
More recent coins depict an eagle clutching arrows and an olive branch in its talons, with “United States of America” inscribed around the edges.
On one side is also written “One Dollar”, which is meant to indicate their worth as legal tender rather than as a collector’s item for investment purposes.
Why Buy The American Gold Eagle Coin?
American Gold Eagle Coins are most typically bought by those interested in investing or collecting gold; they differ significantly from other options such as Krugerrand coins (which can be used internationally) because they are not available for general use outside the United States, and because their purity levels make them better suited to investment purposes. The American Gold Eagle is approved and allowed by the IRS as one of the coins allowed to be added to a gold IRA.
A full 1-ounce American Gold Eagle Coin was valued at about $1325 as of April 2011; its worth fluctuates regularly and has risen steadily for several years because of the high demand for gold investments in uncertain economic times. As of 1st February 2022, the price of the coin is between $1800-$2100.
The United States Mint recommends purchasing their American Gold Eagle Coins using debit cards or credit cards only; they do not recommend buying these bullion pieces with PayPal accounts due to PayPal’s “no bullion” policy (which means they will freeze an account and possibly hold it for as long as 180 days if they suspect the account is being used to purchase bullion items).
It is also possible to buy gold online from credible coin dealers, such as Goldbrokers.com which offers a variety of options and will often offer bulk rates on larger orders.
American Gold Eagle Coin Specifications
One troy ounce coin weighs 31.12 grams (and one-tenth oz – 11.34 gm; quarter oz – 8.07 gm; half oz – 8.09 gm). Composition is 91.67% gold, 3% silver and 5.33% copper. Diameter of 40.0 mm (1.57 in) and thickness 2.98 mm (1/11th inch). Due to the coin’s high face value, it should be kept away from children as they can easily mistake it for a toy or trinket because of its lightweight nature, low price, and shine/ attraction due to size and metal type.
The obverse side has Augustus Saint-Gaudens’ full-length figure of Lady Liberty encircled by 46 six-pointed stars representing the 50 states of America with her right hand resting on an upright torch while bearing branches of laurel and oak in her left. The reverse side shows a male eagle holding an olive branch in its right claw while his left holds 13 arrows. The other elements on the coin are required by law which includes “E Pluribus Unum” above the eagle, the date below it, “United States of America” above all this, five-pointed stars at each side, denomination 50c at the bottom center, and “In God We Trust” to the right of Liberty’s head.
Manufacturing Process for Gold Eagle Coins
The manufacturing process involves cold working with planishing or hammering for higher durability followed by heat treatment to improve hardness, remove stress and refine grain size. This is then followed by rolling the blank into a strip from which coin blanks are stamped out by a high-pressure die. Before the coin is finally minted, it goes through an edging machine to smooth rough edges and give it its final shape. The coins are then plated with 22 karat gold using electrolysis in a vacuum chamber.
The large size of the coins makes them attractive for industrial use because they can be easily stored and stacked when necessary due to their low weight while at the same time being extremely durable thanks to their high purity gold content. As such, these coins have been used in many automated vending machines that require US legal tender in payment for goods or services rendered over a certain price range.