American Gold Eagle Bullion Coins
By Maury Kauffman
7/31/2019 at 8:17 AM
Did you know that as Tucson’s private jeweler, I do everything that a jewelry store does without having the tremendous overhead of a retail store, thus I can save you money? One example of this is in buying and selling gold and silver bullion and coins. Yes, I buy and sell gold and silver bars and bullion frequently, as well as old jewelry and diamond rings. So I thought it would be helpful to explain a bit about bullion, specifically, gold coins. This is the first in a series of blog posts about the world’s most popular one once gold coins: the American Gold Eagle.
Since its introduction in 1986, the Gold American Eagle coin has been in high demand, and it's one of the most popular gold bullion coins. The obverse of the Gold American Eagle is adapted from Augustus Saint-Gaudens' famed Gold Double Eagle design of 1907. This is design is often considered the most beautiful design in American coinage.
As the official gold coin of the United States, the American Gold Eagle coins are available on an annual basis in three familiar versions and four different weights. Each Gold Eagle coin from the United States Mint features images of the nation’s most iconic symbols, from its official national emblem of the American bald eagle to that towering symbol of freedom and democracy known to most simply as Lady Liberty. The metal content and purity of each is guaranteed by the full faith and credit of the United States.
American Gold Eagle Coins were first authorized for production by the United States Congress with passage of the Gold Bullion Coin Act of 1985. Under the terms of legislation, the program was to contain four different weights in total (1 oz, ½ oz, ¼ oz, 1/10 oz) and include two different versions initially (bullion and proof). Congress set the face value for the coins as is standard practice with any legal tender issued by the United States Mint.
The first American Gold Eagle coins were produced and made available for purchase in 1986. The bullion gold coin program was immediately available with all four weights, while the proof version of the coin featured only a 1 oz coin in 1986. The proof program expanded to include the ½ oz weight in 1987, and the ¼ oz and 1/10 oz coins in 1988.
The United States Mint chose a historic American coinage design for the American Gold Eagle. Augustus Saint-Gaudens was hand-picked by President Theodore Roosevelt in 1905 to help revitalize US gold coinage with a brilliant new design. Saint-Gaudens crowning achievement was the Lady Liberty design that features Liberty in full-length figure, her hair and robe flowing freely in the breeze as she strides forward confidently from the nation’s capital. In her right and left hand are a torch for light, and an olive branch signifying peace; all the things she’ll need to guide the nation toward a peaceful, if unknown, future. His original design was used on the $20 Gold Double Eagle coin. In circulation from 1907 to 1933, it is considered the finest design on the greatest coin in American history.
In Saint-Gaudens’ original design, Liberty was featured striding forward with the US Capitol Building at her feet, the rays of the setting sun at her back, and 46 stars surrounding her along the coin’s rim. In 1912, Congress authorized the addition of two stars to his design to recognize the addition of New Mexico and Arizona to the Union. In order for the image to be used on the American Gold Eagle, two stars were added to recognize the post-World War II addition of Hawaii and Alaska to the Union.
The reverse side of the coin features a family of nesting bald eagles, and was designed by Miley Busiek. In the image, a male bald eagle returns to the nest with branches in its talons. In the nest, a female is depicted standing vigilant guard over the young hatchlings in the nest. Busiek’s design was created in 1986, and is used exclusively on the American Gold Eagle.
If you would like own this beautiful solid gold coin or any other, or you would like to sell your collection, it would be my pleasure to help you. Simply schedule an appointment for us to meet in the comfort of my Sabino Canyon office.
Yes, I do buy and sell gold and silver bars and bullion frequently, as well as old jewelry and diamond rings. I’m Tucson’s private jeweler, jewelry store.