American Gold Eagle: Difference between revisions
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*[http://www.silvergoldtrade.com/userfiles/image/2006_AE_Gold_Bullion_Hi-Res_Rev.jpg High resolution image Reverse] |
*[http://www.silvergoldtrade.com/userfiles/image/2006_AE_Gold_Bullion_Hi-Res_Rev.jpg High resolution image Reverse] |
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{{US currency and coinage}} |
{{US currency and coinage}} |
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[http://www.goldcoinsgain.com/gold-american-eagle.html Gold American Eagle] |
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[[Category:United States gold coins|Gold eagle]] |
[[Category:United States gold coins|Gold eagle]] |
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Revision as of 05:42, 25 August 2009
- For the $10 pre-1932 U.S. gold circulation coin, see Eagle
| Gold Eagle (United States) | |
|---|---|
| Edge: | Reeded |
| Composition: | 91.67% Au 3% Ag 5.33% Cu |
| Years of Minting: | 1986–present |
| Obverse | |
| |
| Design: | Liberty |
| Designer: | Augustus Saint-Gaudens |
| Reverse | |
| |
| Design: | Eagle soaring above his nest. |
| Designer: | Miley Busiek |
| Design Date: | 1986 |
The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. 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 America, with an additional alloy of silver and copper to produce a more wear-resistant coin of .9167 (22 karat, which had long been the crown gold English standard for gold coins, and before 1834, for American gold coins as well). It is authorized by the United States Congress and is backed by the United States Mint for weight and content.
The obverse design features a rendition of Augustus Saint-Gaudens' 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 reverse design, by sculptor Miley Busiek, features a male eagle carrying an olive branch flying above a nest containing a female eagle and her hatchlings.
The market value of the coins is generally about equal to the market value of their gold content, not their face value. (As of March 2009[update] the $5, $10, $25, and $50 coins by face value are worth and sell for about $130, $275, $550, and $1,000 USD respectively. Their actual selling prices vary daily based on the current spot price of gold. The United States Mint also produces a proof version for coin collectors. These coins are for the most part produced at the West Point Mint in West Point, New York and carry the mint's mark ("W") beneath the date.
Specifications
Each of the four sizes contains 91.67% gold (22 karat), 3% silver, and 5.33% copper.
| 1/10 troy oz coin | |
|---|---|
| Diameter: | 16.50 mm |
| Thickness: | 1.19 mm |
| Gross weight: | 0.1091 troy oz (3.393 g) |
| Face value: | $5 |
| 1/4 troy oz coin | |
|---|---|
| Diameter: | 22 mm |
| Thickness: | 1.83 mm |
| Gross weight: | 0.2727 troy oz (8.483 g) |
| Face value: | $10 |
| 1/2 troy oz coin | |
|---|---|
| Diameter: | 27 mm |
| Thickness: | 2.24 mm |
| Gross weight: | 0.5454 troy oz (16.965 g) |
| Face value: | $25 |
| 1 troy oz coin | |
|---|---|
| Diameter: | 32.70 mm |
| Thickness: | 2.87 mm |
| Gross weight: | 1.0909 troy oz (33.930 g) |
| Face value: | $50 |
Gold Eagles minted 1986-1991 are dated with Roman numerals. In 1992, the U.S. Mint switched to Arabic numbers for dating Gold Eagles.
The 1/10, 1/4, and 1/2 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). As is often the case with bullion coins, the face values of these coins ($5, $10, $25 and $50; reflecting the fact that the coins are legal tender[1]) are not consistently proportional to their weights, are mostly symbolic, and do not reflect their value as expressed in Federal Reserve Notes (U.S.). However, in a setback for the I.R.S., a Las Vegas jury refused to convict[2] nine defendants on any of the 116 charges brought against them valuing Gold eagles with their legal tender value for tax purposes. The jury hung because it could not decide if the defendants were aware that they had to declare the market value of the coins, not their face value since until this trial the IRS had never issued the public guidance on this issue[3]
The United States Mint has officially stopped minting fractional sizes of the American Eagle Gold Uncirculated Coins. [1]
Design After careful consideration, the United States mint decided to copy the design of the $20 Saint-Gaudens gold coin for the obverse of its new Gold Eagle. The $20 Saint-Gaudens was commissioned by Theodore Roosevelt to create coins of awe like the ancient Greek and Roman coins. The date, situated to the viewer's right of Miss Liberty, appears in Roman Numerals in the years from 1986-91 it has appeared in Arabic Numerals ever since.
The design on the reverse by Miley Busiek captures a bald eagle swooping into a nest holding its family. The scene is meant to symbolize many classic American concepts.
Minting Information Gold Eagles are made only from gold mined in the United States. The coins are minted using 24-karat gold plus small amounts of alloy to ensure a minimum of scratching and marring; the result is a 22-karat overall composition. Each one-ounce Gold Eagle contains one full ounce of pure gold.
Government Guarantee Gold Eagles maintain a unique advantage over most other gold bullion coins - the United States government guarantees their gold content, weight, and purity. For this reason, gold eagles can easily be bought and sold almost anywhere in the world, making these coins among the most commonly traded gold bullion coins on the market.
See also
Notes
- ^ http://www.usmint.gov/downloads/mint_programs/am_eagles/AmerEagleGold.pdf
- ^ Joan Whitely (2007-09-20). "Four-month trial ends with no convictions — Federal income tax evasion case involved nine defendants". Las Vegas Review-Journal. Retrieved 2007-12-25.
- ^ http://www.rense.com/general78/defeat.htm
External links
