American Gold Eagles
The American Gold Eagle Coin is the official gold bullion coin of the United States, fully backed and guaranteed by the U.S. government for the weight and purity of its gold content. Issued by the U.S. Mint, this patriotic coin began as a mere suggestion made by Congressman Ron Paul to President Ronald Reagan's Gold Commission in 1981. The idea was brought to fruition under the Gold Bullion Act of 1985, and the first modern American Gold Eagle was minted in 1986.
During their first year of issue, only one ounce sizes were minted with the special Proof device. In the years to follow, half-ounce, quarter-ounce and tenth-ounce Proofs were released as well. All four sizes are stuck in .9167 pure gold. Although each coin is designated with a face value as legal tender, the American Gold Eagle is traded on the basis of its fine gold content.
History of Gold Eagle Coins
Like all U.S. legal tender coins, Gold Eagles must adhere to strict standards of quality, beginning with the extraction of the gold used to produce these iconic coins. Under the Gold Bullion Act of 1985, American Gold Eagles must be produced from gold mined exclusively within the borders of the United States. They must also meet precise weight and dimension requirements before receiving legal tender status. Due to their government guarantee, these coins are eligible for inclusion in Individual Retirement Accounts (IRAs).
American Gold Eagles were the first modern bullion coin authorized by Congress. They have since become one of the most popular gold bullion coins worldwide. Today more than 16 million Gold Eagles have been distributed, with more than 13 million minted in the one ounce size. These gold coins make up a remarkable 80% of the United States' physical gold bullion market. Precious metal investors buy American Gold Eagles not only for their intrinsic value, but also because they are durable, recognizable, and easily portable.