American Gold Eagle (1986-Date)
Among the modern US Mint issues, the gold bullion is one of the most popular – especially American Gold Eagles. Although 1986 was the inaugural year, the sale of the coins did not start until October of the same year. Still, the annual total for that year was the highest on record and remained the same until 1998.
The bullion coins are offered in different sizes–1 oz, 1/2 oz, 1/4 oz, and 1/10 oz.
1986 marked the start of the American Gold Eagle series.
2006 was when the American Buffalo bullion series started. It was the first .9999 fine gold (pure gold) coins that the United States struck. It had a denomination of $50 and weighed 1 oz. The series is available in both uncirculated and proof versions.
2007 was when the First Spouse coins appeared. The half-ounce .9999 fine gold was issued by the Mint and had a denomination of $10. In keeping with the name, the obverse depicts the First Spouse. The reverse side, on the other hand, features a design that symbolizes the First Spouse’s life and work.
In the absence of the First Spouse, the obverse side will have an “image emblematic of Liberty as depicted on a circulating coin of that era and a reverse image emblematic of themes of that president’s life.”
The popularity of the design of the First Spouse coins spilled on to the bronze medals issued by the US Mint.
2009 was when the Ultra High Relief 1 oz came out. It measured 4-mm thick and is designed similarly to the famous pattern of the 1907 Ultra High Relief double eagle. The design was digitally modified. From Saint-Gaudens’ original plaster models, the Mint changed the date to MMIX and four stars were added to represent all 50 states.
Gold Bullion Coin Act of 1985
This is the law that authorized the United States Mint to issue different sizes of gold bullion coins, specifically 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz. It also specified that the gold to be used should come from American sources and must have a 22 karat or 0.9167 fineness.
Gold Eagle Design
The obverse side is a modified version of the $20 gold piece that was designed by Augustus Saint-Gaudens. The reverse, on the other hand, was designed by Miley Busiek and featured a “family of eagles.”
The Mint’s Authorized Purchaser program allows the sale of uncirculated versions of the Gold Eagles with the exception of the 2006-2008 “burnished” issues. Collectors can directly buy proof versions from the Mint.
In terms of coin collecting, the largest and smallest sizes are the biggest sellers. It was believed that the high level of sales was due to the pent-up demand for gold bullion. When the Americans were allowed to invest in physical precious metals, the Gold Eagles became bestsellers almost overnight.
The 1986 Proof Gold Eagle that the US Mint offered to collectors was minted at the West Point Mint and carried the “W” mint mark. Offered in 1-oz size, more than 400,000 coins were sold. To this day, the sale of the Proof American Gold Eagles represented an all-time high.