Description
Authorized by the Gold Bullion Coin Act of 1985 and first released in 1986, the American Gold Eagle is the official gold bullion coin of the United States. The one-ounce coin carries a $50 legal-tender face value, measures 32.70 mm in diameter and 2.87 mm thick, and has a reeded edge. Its weight, gold content and purity are guaranteed by the U.S. government.
The coin is struck in 22-karat gold: 91.67% gold, 3% silver and 5.33% copper. The alloy makes it harder and more scratch-resistant than pure gold. Because the silver and copper are added on top of the gold, each coin still holds one full troy ounce of gold and weighs 1.0909 troy ounces (33.931 grams) in total.
The obverse adapts Augustus Saint-Gaudens’ design from the 1907 $20 Double Eagle, often called one of the most beautiful American coins. Lady Liberty strides forward with a torch and an olive branch, the Capitol behind her. Coins dated 1986 to early 2021 (Type 1) show Miley Busiek’s family of eagles on the reverse. Coins from mid-2021 onward (Type 2) feature Jennie Norris’s close-up portrait of a bald eagle, released with added anti-counterfeiting features.
Buyers choose the Gold Eagle for its sovereign backing, durability and nationwide recognition, which makes it easy to buy and sell. It usually carries a higher premium than generic gold bars because of that demand. American Gold Eagles are specifically named in the Internal Revenue Code’s exception for IRA coins, so they may be held in a self-directed IRA despite their 22-karat fineness, subject to custodian acceptance.
