What Are American Gold Eagle Coins?
What Are American Gold Eagle Coins?
This is a question you should be asking yourself if you are seeking to own gold, or gold bullion coins.. The Bullion coin Act of 1985 authorized the issuance of these coins. The coins are embossed with their legal tender face value of fifty dollars, their gold content and government guarantee stamp. Their actual value correlates to the market value for gold. The Mint markets the coins based on the prevailing market value with a slight premium to cover the cost involved in their distribution, production and marketing.
The American Eagle Gold Bullion coin’s Design
The design of the front side of the coins is one previously carried by a gold coin of another denomination that went off the market in 1933.. The designer was Augustus Saint-Gaudens who drafted an image of Liberty carrying a torch and holding an olive branch in either hand. A nest of eagles is shown on the other side of the bullion coin. American Eagle gold coins are sold in four weights of which the biggest is a one troy oz coin..
The Mint Sells Uncirculated And Proof Coin Versions For Investors.Too
The Proof coins are available in weights of one troy oz and in three variations of a troy oz. They are also available in a set containing one coin of each denomination.The uncirculated bullion coins are only minted in the one troy ounce variety. Both types use a precise minting method that is more labor intensive. Each bullion coin is mounted and sealed in a case after inspection. Both types come with a Certificate Of Authenticity. Both bullion coin varieties have a set price, are limited by amount available and may be purchased directly from the Mint.
Reasons For The Increasing Interest In Gold As An Investment
With the dollar in decline and financial institutions looking pretty shaky, people are looking for alternative homes for their cash.. The value of cash is something they are unable to influence however, in the same way as they can if they have possession of an investment that can hold its value with the passage of time or even the possibility of an increase in value in the future. Gold is an investment in this class..In the past economies have operated on a monetary system called the Gold Standard. Since the gold standard was abandoned, the situation has become less stable.. Many believe that we should return to this type of gold backed monetary system.. Many folk fear the onset of inflation caused by the printing of money by governments in response to the Global Finacial Crisis and want to hedge their risk with gold. Others,, believing that gold will rise in value because it is getting more difficult to extract and find. Others believe that the value of gold will rise as it is getting harder to find and mine. At a London conference it was revealed by the President of Barrick, a leading gold miner, that overall gold production is diminishing due to there is less gold available.. This was published in the Daily Telegraph newspaper on November 13 2009.. Worldwide production has fallen by in the region of 1 million ounces per year since the beginning of this decade; and that the total supply has fallen by 10 percent. Erosion in ore quality is a factor as well. Whatever the reason, the Mint has had to suspend sales of its coins due to its diminishing inventory.
Folk Should Be Aware Of The Difference Between The American Eagle Gold Coin And The American Buffalo Gold Coin
The American Eagle dominated the gold bullion coin market when it was introduced. As estimated by a Mint officer, 60% of the global gold coin market is dominated by 24 carat gold coins, with 22 carat bullion coins making up the balance. As the world gold coin market being skewered towards 24 carat coins, and as the U.S had nothing to sell to this market, Congress approved the mintage of the 24 carat American Buffalo bullion coins. These were added to the 22 carat coins in the Mint’s portfolio of precious metal coin offerings in 2005. These were eventually released to the market in 2006. Even though gold coins have not been in circulation since 1933, features conducive to circulation have been reflected in the metal constitution of gold bullion coins struck by the Mint.
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