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Buy American Gold Coins at the Lowest Price
The US Mint started to produce the American Gold Eagle in 1986 after it was authorized under the Gold Bullion Coin Act of 1985. It immediately became the most popular gold coin in the country, overtaking the Canadian Gold Maple Leaf.
The obverse design of the Gold Eagle is taken from Augustus Saint Gaudens' original $20 gold piece used from 1907 - 1933 with Lady Liberty holding a torch and walking towards the viewer. The reverse shows a male eagle carrying an olive branch above with a female eagle and her hatchlings below in their nest, designed by Miley Frances Busiek. The eagle is stamped with its face value and fine weight of gold. It is made in 1/10, ¼, ½, and 1 oz weights, corresponding to a face value of $5, $10, $25, and $50, which is well below the value of the gold coins in terms of gold value.
The value of the coin is not tied to its face value but is tied to the underlying content of gold and price of gold, which fluctuates constantly during market hours. It is one of only two popular modern gold coins that is made out of a 22 karat gold alloy, comprising of 91.67% gold, 3.00% silver, and 5.33% copper. This alloy makes these coins more durable and scratch-resistant. As such, these coins actually weigh more than one troy ounce given the added copper and silver to the gold coin. The American Eagle gold coins remain the most popular bullion coins in the United States.
The American Gold Buffalo coin was introduced in 2006 by the U.S. Mint, primarily to provide a 24kt, or 9999 pure gold alternative to other world gold coins, most of which are made in 9999 fineness. US buyers typically prefer to own U.S. Mint gold coins but many people who buy gold also like to own a pure 9999 gold coins. This was a driving force from the U.S. Mint when introducing these coins. The design of the gold buffalo is taken directly from the very popular “Indian Head” or “Buffalo” nickel, which was minted from 1913 through 1938. The design highlights the beauty of the American West. Aside from 2008, where the gold buffalo was made in the same four sizes as its eagle cousin, the gold buffalo is only made in 1 troy ounce size.
Up until 1933, American gold coins were commonly used in trade and commerce, with citizens holding both paper notes and coins. Gold coins in $1, $2.5, $3, $4, $5, $10, and $20 were in circulation and the official price of gold per US dollar was set at $20.75. As such, $20 Liberty Head or $20 Saint Gaudens coins had less than a troy ounce of gold in them. To be exact, their gold content was 0.9675 troy ounces (AGW).
Gold coins were always an alloy of gold and copper in those days, given that they were used in everyday transactions. They had to be durable and have high gold cntent. Most gold dealers refer to these coins as "Classic" gold coins. The vast majority of these coins are considered "common date" meaning they don't have significant collectible value. However, some are very rare and many collectors buy these numismatic gold coins for their rarity and condition value.