As one of the most sought-after gold coins in the world, the American Gold Eagle combines stunning design with a valuable metal.
The American Gold Eagle is one of the world’s most recognizable bullion pieces. Its beautiful design and metal purity make it wildly popular with collectors and investors alike. If you are considering the American gold eagle for your collection, here are the answers to some frequently asked questions.
What is a Gold Eagle?
First released in 1986, the American Gold Eagle is an official United States gold coin. Gold Eagles contain the equivalent of 22 karats of gold, which makes the coins 91.67 percent gold. The remaining materials are made up of 3 percent silver and 5.33 percent copper, resulting in a more durable coin.
How much is an American Gold Eagle coin?
Although the price of the American Gold Eagle coin fluctuates with the gold market, in 2017, they were available online in the price range of about $1,200 to just over $1,300 for a 1 troy ounce coin.
How many Gold Eagles are minted each year?
Each year the United States Mint manufacturers a different number of Gold Eagles. During its first year of production in 1986, just over 1.3 million 1 troy ounce Eagles were minted. In 1987, slightly over 1 million were minted. From 1988 through 1996, fewer than 25 percent of the initial releases were minted each year with production increasing in 1999 by nearly eight-fold over production numbers in 1996.
The number of minted coins dropped during the early years of the 21st century, but increased slightly until 2004, when it began to decline and continued to do so for the next three years. Beginning in 2008, production was up more than 500 percent over the previous year, but then decreased steadily for the next four years. Since 2012, the mint has produced an average of over 600,000 Golden Eagle coins each year.
How much does a Gold Eagle coin weigh?
American Gold Eagle coins are comprised of 91.67 percent pure gold by weight. They are available in four different weights:
- The 1 troy ounce Eagle actually weighs 33.93 grams with the addition of a small amount of silver and copper making the coin more durable. It contains exactly one troy ounce of gold.
- The 1/2 troy ounce Gold Eagle contains 0.5 ounce of gold and weighs in at 0.5454 troy ounces or 16.965 grams, including silver and copper.
- The 1/4 troy ounce Gold Eagle coin contains .25 ounces of gold and with the addition of silver and copper weighs a total of 0.2727 troy ounces or 8.483 grams.
- The 1/10 troy ounce coin contains 0.1 of an ounce of gold, with its total weight 0.1091 troy ounces, translating to 3.393 grams. This is the smallest Gold Eagle available.
Are American Gold Eagles legal tender?
Yes. The face value is on the reverse of the coin. However, the precious metal content in these coins is worth many times the face value.
Are American Gold Eagles taxable?
American Gold Eagle coins are considered collectibles by the IRS. If you own your Eagles for less than a year and sell them, they are taxed at your personal marginal tax rate. If you hold them more than a year before selling, they are taxed at 28 percent, which is the IRS tax rate for collectibles.
Are Gold Eagle coins a good investment?
Generally yes, considering the long-term rising value of precious metals - especially gold. Learn more about why you should invest in the American Gold Eagle.
What are American Gold Eagles worth?
A 1 troy ounce American Gold Eagle coin is currently worth on average about $2,500 to $3,000. A 1/2 troy ounce is worth just under $1,000, a 1/4 troy ounce Eagle sells for about $700, and a 1/10 troy ounce Eagle will net about $450. All of these prices are subject to availability and market conditions including the current spot price of gold.
Where are American Eagle coins minted?
All American Eagle Gold coins are minted at one of the United States Mint facilities. The first mint in Philadelphia opened in 1792. There are also minting facilities in Denver, San Francisco and West Point. The United State Mint’s headquarters are in Washington D.C., although no coins are produced there.
Where can I buy/sell American Gold Eagles?
If you are thinking about buying or selling an American Gold Eagle coin, Provident Metals has many options. Check out our inventory of Gold Eagles, or continue browsing our Knowledge Center to learn more about American Gold Eagle coins.