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Complete Guide to Collecting American Gold Eagles
By GovMint :
Introduced in 1986, the American Gold Eagle series is a favorite for coin collectors. Read the complete guide to learn how to collect American Gold Eagles.
Table of Contents
The History of U.S. American Gold Eagles & Their Face Value
Why Collect U.S. American Gold Eagles?
Where Are American Eagle Gold Coins Minted?
How Much Gold Is in an American Eagle Coin?
How to Collect American Gold Eagles
What Should I Look for When Collecting American Gold Eagles?
The History of U.S. American Gold Eagles & Their Face Value
First issued in 1986, the American Gold Eagle is a gold bullion coin produced by the United States Mint and is considered legal tender. It’s also available in four different denominations or sizes, which are 1 ounce ($50 face value), ½ ounce ($25 face value), ¼ ounce ($10 face value), and 1/10 ounce ($5 face value).
The obverse of each American Gold Eagle coin follows the same 1907 Augustus Saint-Gaudens double gold eagle design, and only two reverse designs have been used in the series’ over three decade long history, “the family of eagles” design and “the eagle profile” design We’ve included a brief overview of each denomination down below:
1 Ounce: $50
The 1 ounce, $50 American Gold Eagle is the largest denomination issued of the series. The first year of issue, 1986, in addition to a bullion version, the 1 ounce Gold Eagles was the only denomination that also received a proof version. Except for bullion coins, in recent years, all 1-ounce coins (including the following denominations) have a stamped “W” mintmark.
½ Ounce: $25
The $25 ½ ounce gold piece debuted with the rest of the series in 1986 as a bullion coin, the proof version came the following year,1987. What sets this coin apart from the 1-ounce is the amount of gold it contains, its weight, and its dimensions. It contains a half ounce of .9167 fine gold, ,is 1.063 inches (27 mm) in diameter, and has a $25 denomination.
¼ Ounce: $10
The $10 American Gold Eagle debuted as a bullion coin with the rest of the series in 1986, but was first sold as a proof coin in 1988. The coin weighs ¼ ounce, has a diameter of 0.866 inches (22.00 mm), and a denomination of $10.
1/10 Ounce: $5
The $5 tenth-ounce bullion American Gold Eagle is the smallest coin the U.S. currently mints in regards to its diameter. It debuted in 1986 as a bullion coin and received the proof treatment in 1988 alongside the ¼ ounce $10 Gold Eagle. It has a diameter of 0.650 inches (16.50 mm), which makes it smaller than the U.S. dime. It also contains 0.100 ounces of .9167 fine gold.
1986 - Present Highlights of The American Gold Eagle Coin
Why Collect U.S. American Gold Eagles?
Why do individuals collect U.S. American Gold Eagles? There are many reasons. Collectors may gather American Gold Eagles for the purpose of adding ounces of gold to their portfolio whose weight, content, and purity, is guaranteed by the United States Mint .. Others collect them because they act as a hedge against inflation or have good liquidity. Finally, several collectors enjoy building their coin collections as a hobby.
Where Are American Eagle Gold Coins Minted?
American Gold Eagle coins are typically minted in two Mint facilities: Philadelphia and West Point. Although a few other Mint locations exist throughout the U.S., these are the designated facilities for this particular series..
How Much Gold Is in an American Eagle Coin?
About 91.67% of gold makes up an American Gold Eagle, with the remainder being 3% silver and 5.33% copper. The reason why it’s not 100% gold is that the silver-copper alloy strengthens the coin, making it harder to scratch or cause damage to it.
American Gold Eagle Finish Types
Not all American Gold Eagle denominations of the 1986 series are minted the same. Some Denominations may be sold with a different finish, which is another way to describe what the surface of a coin looks like. The three primary different types of finishes are burnished, proof, and Brilliant Uncirculated (BU).
- Burnished coins are less-polished, uncirculated coins with a matte or dull finish. They are hand-loaded into a press and stamped before they are packaged and sold to collectors.
- Proof coins are significantly more polished and defined than burnished coins. Due to dies being struck twice and given a shinier surface, coins have a higher contrast than others. Proof coins, for this reason, are considered higher-quality and sold in protective casings enclosed with a certificate of authenticity.
- “Reverse proof” coins go through the same minting process as proof coins, but their surface is given a frosted or crystallized appearance, while the coins details, or its design, receives a mirrored appearance.. These coins, like the 2006-W American Eagle Gold $50, are unique. Aside from their frosted appearance, they are not produced very frequently. However, they are created with the same standards as proof coins.
- Brilliant Uncirculated (BU) is a type of coin that has never been circulated and contains its original mint luster. For example, a BU coin could be several years or decades old but appear as though it came straight from the mint if it has never seen circulation. This finish is applied to the traditional bullion Gold Eagle.
How to Collect American Gold Eagles
How you collect American Gold Eagles is up to you. If you’re a beginning coin collector, start small and simple to make things easier on yourself. Note that if you plan to sell your collection in the future, you’ll want to take good care of your coins by handling and storing them properly. You’ll also want to avoid touching your Gold Eagles with your bare hands and scratching them, as this can lower their overall appeal.. To learn more about how to collect and store your American Gold Eagles correctly, check out our Ultimate Coin Collector’s Resource.
What Should I Look for When Collecting American Gold Eagles?
As a coin collector, you should consider several items as you build your American Gold Eagle collection. Look at a coin’s anatomy, which includes the obverse (“heads”) and the reverse (“tails”) sides of the coin. Review its finish to determine its overall condition, although an expert ,such as a numismatist would be able to better evaluate a coin's condition.Lastly, look for any mint marks for identification purposes.
3 Ways to Collect Gold Eagle Coins
Your strategy for collecting Gold Eagle coins may vary depending on your objectives. Typically, numismatists will collect by the year, denomination, and minting location (this applies more to proof sets). We’ll explain each of these in the following sections below:
#1. By Year
As an American Gold Eagle collector, you may choose to find one coin from each year it was minted. Or, you may want to gather all face-valued coins of a specific year or for each year.
#2. By Denomination
Since the American Gold Eagle comes in different sizes and denominations, you may prefer to build your collection by denomination. For example, you could solely acquire the $5 or 1/10 ounce American Gold Eagle for each year if that is more affordable for you. Alternatively, you could gather all denominations for each year by purchasing the annual 2-coin proof sets versus bullion issues.
#3. By Mint
Finally, you can collect coins by where they were minted. In this case, American Gold Eagle bullion coins contain no mint marks except for the proof and burnished issues, which in recent years have been identified with a “W” for West Point Mint below the date. Coin World explains that this is intentional because the U.S. Mint intends bullion coins to be sold for their “intrinsic metal value, not for numismatic collectibles.” The 1999 $5 and $10 Gold Eagle bullion coins were struck with a W mintmark, but this is an error, which makes them all the more appealing to some collectors.
American Gold Eagle “Type-1” to “Type-2” Design
For over thirty years since its release, the “Type-1” American Gold Eagle series reverse design had remained unchanged. It wasn’t until 2021 that the family of eagles design was replaced with its “Type-2” counterpart, which features a close-up profile of an American Bald Eagle created by Jennie Norris.
Although the “Type-1” obverse design remained, its “Type-2” version was modified slightly to enhance its design and security. Modifications to its design included the stars, torch, the sun rays over Lady Liberty, and more. These changes have not changed the percentage of pure gold or its size.
Where to Buy American Gold Eagle Coins
Now that you have an idea of what you should look for and how to collect American Gold Eagles, you’ll need to know where you can purchase them. The U.S. Mint does not publicly distribute bullion versions of this coin, but they do for burnished and proof issues, so if you want a bullion Gold Eagle, you’ll need to buy them from an accredited and trustworthy dealer, either in person or online.
If you’re ready to start your collection, we recommend GovMint.com . Why? As a convenient and accredited A+ business for over 30 years, we sell American Gold Eagles and other U.S. coins for a fair price. Your purchases are also secured and legitimate. Visit our online store today to build your collection!
If you need further information or assistance, feel free to visit our Ultimate Guide on coin collecting.
American Gold Eagle Testimonials
Plus, don't miss out on the rest of our excellent collecting guides:
Guide To Collecting Wheat Pennies
Guide To Collecting Steel Pennies
Guide To Collecting Half Dollars
Sources
https://www.coinnews.net/2022/06/16/2022-w-50-uncirculated-american-gold-eagle-released/
https://www.thesprucecrafts.com/what-is-a-proof-coin-768471
https://www.thebalance.com/american-eagle-gold-bullion-coins-357971
https://www.usmint.gov/coins/coin-medal-programs/american-eagle/gold-bullion
https://www.govmint.com/coin-authority/post/what-is-a-proof-coin
https://www.thesprucecrafts.com/reverse-proof-coin-768475
https://www.thesprucecrafts.com/bu-coin-definition-768402
https://www.thesprucecrafts.com/coin-collecting-tips-for-beginners-768319
https://www.coinworld.com/news/precious-metals/mint-marks-in-error-on-bullion-coins.html
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