American Gold Eagle 1 oz

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on October 15, 2009

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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 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. This is a scale model of the currency. A U.S. Quarter is added for size comparison.

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