Gold is a timeless and priceless commodity that has lasted for more than 1000 years now. As monetary systems evolve and grow with each generation, money has become a wavering asset often affected by socio-economic and political factors.
Gold, however, has remained a constant valuable investment. But there are often a lot of questions and procedures to investing in gold. One way is buying the different bullion coins in the market and trading them. One such coin is the Gold American Eagle. If you are new to this or are seeking some insights, here are some FAQs that will help you understand this gold Eagle coin better:
What Exactly Is The Gold Coin?
These gold coins were first minted in 1986 as an official American gold bullion coin making it possible for America to enter into the world of gold trading and compete with other bullion coins such as the Canadian Gold Maple. These American Eagle gold coins are collector versions of the US mint bullion coins.
What Is The Composition Of The Coins?
The coins are available in four different sizes, one ounce, ¼ ounce, ½ ounce, and 1/10 ounce, and contain 91.67 % or 22-karat gold percentages. The weight and diameter of the gold vary with every coin denomination. On top of the stated amount of pure gold, there are alloys that have 0.3 silver and 0.533 copper content.
The purpose of the alloy is to make the coins harder and prevent them from being ruined. The established standard for gold circulating coinage has been 22 karats for over 350 years now, and the Gold Eagle adheres to this standard.
Who Inspired The Design For The Coins?
There were two primary designers and inspirations for the coin: a famous American sculptor: Augustus Saint-Gaudens was the inspiration for the Eagles on the front side. The back was designed by Miley Busiek. To mark its 35th anniversary in 2021, the designs were updated. The refreshed designs include modifications of the Capitol building, sunrays, torch, and other design elements.
What Is the Production Rate for the Eagle Gold Coins?
The production of gold Eagle coins varies each year according to demand and fluctuation rates. The early productions were close to one and a quarter million in 1986 while in 2017, it was at 140,016. It is possible to review production figures at USMint.gov. There have been several times when the mint ran out as gold rushes happened due to economic recessions.
When Should I Buy Gold Coins?
One of the great things about gold is that its value is almost always constant, which means that any time is almost always a great time to buy gold. To purchase 1oz of the Gold American Eagle, you can do so online or over the phone from the U.S. money reserve America’s Gold Authority®. Gold coins cannot be bought directly from the mint.
Armed with the necessary information, it is possible to make great choices in investment. If you are thinking of purchasing a gold Eagle coin for yourself, the history of gold so far can affirm that you are not losing out, as gold is always worth the effort.
Mashum Mollah is a tech entrepreneur by profession and passionate blogger by heart. He is on a mission to help small businesses grow online. He shares his journey, insights and experiences in this blog. If you are an entrepreneur, digital marketing professional, or simply an info-holic, then this blog is for you. Follow him on Instagram, Twitter & LinkedIn