The 1 oz American Gold Eagle coin is one of the world’s best-selling bullion coins. Each American Eagle contains 1 troy ounce of pure gold and carries a legal tender value (fifty dollars) that the government legally upholds.
Investors and collectors love the Gold American Eagle for its stirringly beautiful and historically significant American imagery. Its obverse depicts Augustus Saint-Gaudens’ legendary design of Lady Liberty.
The Price of Gold
The price of gold reflects global demand, supply, and a variety of other factors that influence the markets. This can include economic conditions, political stability, and global security. Gold bullion prices are typically higher than those of other metals. This is due to the fact that gold is considered a “store of value,” meaning it maintains its value in times of economic instability.
Gold is available in bullion coin and bar form from a variety of private and government mints worldwide. It is also available as collectible coins with various designs and historical significance. Some investors see physical gold as a way to diversify their portfolio.
Buying gold coins is a convenient and affordable way to acquire bullion. The coins are minted with the latest production technology to ensure quality and purity. Additionally, most online bullion dealers offer lower prices than traditional brick-and-mortar dealers because of their lower overhead costs.
When shopping for gold bullion, it is important to understand the difference between the spot price of gold and the total investment cost. The spot price of gold is the prevailing price for an ounce of pure, 999 fine gold in current market conditions. The total investment cost is the spot price plus any dealer or manufacturer markups. Depending on the gold seller, these markups may be negligible or significant.
The spot price of gold is determined by the global marketplace and is quoted in U.S. Dollars, although it can be purchased in any currency after appropriate exchange rates are applied. Gold is sold around the clock, so the spot price of gold will vary throughout the day and night.
Regardless of the global price, it is important to remember that the gold you buy today is worth more than its face value in the future. For example, the 1 oz American Gold Eagle is valued much more than its face value of five, ten, or fifty dollars. This is because of its high gold content, timeless patriotic design, and its status as legal tender in the United States.
American Gold Eagles
The American Eagle is the world’s best-selling gold bullion coin and a favored investment. Money Metals Exchange carries all four sizes of the American Eagle, but the 1 oz size is particularly popular with investors. These coins contain a full troy ounce of gold and are guaranteed in weight and purity by the United States Mint.
The obverse of the coin features Augustus Saint-Gaudens’ iconic full-length Lady Liberty, adapted from his famed design that appeared on the $20 Saint-Gaudens Double Eagle gold coins that were used as legal tender in the US between 1907 and 1933. The reverse, designed by Miley Busiek, depicts a family of American eagles, with the male eagle carrying an olive branch in his talons while flying toward his nest that contains a female eagle and her hatchlings.
Each American Eagle coin has a face value of $50, indicating that the United States government deems it worth this amount in gold. This makes these coins an attractive investment option because they are easy to sell if you need to liquidate your holdings. However, you should not confuse the coin’s face value with its actual market price, which is determined by the current gold spot price.
American Eagles are available in different forms, including brilliant uncirculated (BU) and proof. Investors and collectors should assume that a coin is BU unless it specifically notes otherwise, as these coins have been minted for bullion purposes and have not been circulated amongst the public.
BU coins are the best choice for investors, as they do not require any federal paperwork or storage requirements when sold. You may also find proof coins available, which feature a special finish and are deemed to be collectible pieces by some.
Unlike other bullion coins, American Eagles are not made of pure gold but instead of 22k gold, which is mixed with silver and copper for strength and durability. The obverse of the coin is stamped with the year, mint mark, and “E Pluribus Unum” to indicate its American origin. The reverse is etched with a bald male eagle clutching an olive branch in his talons as he flies towards his nest, which holds a female eagle and her young.
Other Bullion Coins
Unless otherwise specified, bullion coins are usually bought and sold based on their precious metal content. Most bullion coins, like the American Gold Eagle, contain 1 troy ounce of gold, while others, such as the Maple Leaf and Krugerrand, have a higher percentage of another metal, typically silver, to make them more durable. Those additional materials are not included in the coin’s overall weight, but they do increase its value.
Understanding bullion coin value is important because it allows investors to plan their purchasing and selling strategy accordingly. Most bullion coins, like the 1 oz gold Eagle, will trade for a premium above their spot price due to the high quality of the coin’s precious metal contents. The value of other bullion coins may be influenced by factors such as their fineness, mint mark, and other security features.
In the case of gold coins, fineness refers to how much of the coin’s weight is pure gold. The higher the purity, the more valuable the coin. In addition to purity, other factors that determine how much a bullion coin is worth include its condition and its numismatic value. A gold coin with a lot of wear and tear will likely be worth less than one that is in very good condition.
Another important consideration is the current market for gold bullion. When the market is turbulent, gold’s appeal as a safe-haven asset often increases, driving its price up. In times of economic or political stability, the demand for gold can decrease, which could cause its price to fall.
Many collectors will also consider the age of a gold bullion coin when deciding how much to pay for it. However, it is important to note that the age of a gold coin does not necessarily add to its overall value. Rather, older coins often have more numismatic value than their modern counterparts because earlier dates of bullion coinage had lower mintages and are, therefore, scarcer. This can cause them to be more expensive than their newer counterparts. If you are interested in collecting old gold bullion coins, it is recommended that you consult with an experienced numismatist to ensure that you’re getting a fair price.
Where to Sell Your Gold Coins
Whether your coins are gold bullion or rare collectibles, the best way to get the most money for them is to sell them to a reputable coin dealer. You can find them online, or you may be able to sell them to a local jewelry store or even a pawn shop, but they may not offer the best prices. Online buyers, however, can give you higher payouts for your coins because of their relative lack of overhead. They also often have more up-to-date selling prices than pawn shops.
Before you decide where to sell your coins, research the value of them. You can do this by checking the current market price of gold online or looking at listings for similar coins on eBay and other coin collector websites. It’s also helpful to have a quality scale that can accurately measure your gold’s weight. Once you have a ballpark figure for the value of your coins, you’ll be ready to begin shopping around.
Keep in mind that the amount of money you’ll receive from a buyer depends on how much your gold is worth and how quickly you want to sell it. For instance, you’ll probably receive a smaller percentage for smaller bullion coins like American Gold Eagles than you would for larger ones like the Canadian Maple Leaf or South African Krugerrand. Retail premiums, which are the difference between the price of the coin and the spot price of gold, can vary widely too.
Once you’ve done some research, you can choose the best place to sell your gold coins. Online gold buyers tend to have the highest payouts because of their lower overhead but be sure to do your homework to ensure that you’re dealing with a reputable buyer. Check the buyer’s reviews, BBB rating, and other credentials to make sure you’re getting the best possible deal. Pawn shops are a bad option, as they’ll typically lowball you and take advantage of your desperation to sell.