The American Eagle $50 gold coin is a commonly available and popular modern gold coin. Minting of these coins began in 1986 and they are a good way to own highly marketable bullion value coins. In 2006 the US Mint also created American Eagle uncirculated coins. Highly burnished, detailed and frosted proof coins of the 1 ounce American Eagle are also available.
HISTORY
The 1 ounce American Eagle $50 gold coin was authorized by the Bullion Coin Act of 1985 to increase bullion investment and produced by the US Mint at West Point, NY in 1986.The American Eagle was produced from gold mines in the US and minted in several sizes. The 1 ounce size produced one troy ounce of 22 karat gold alloy, guaranteed by the US government for weight, purity and content. Only the USA provides this guarantee. The American Eagle is also currently exempt from reporting requirements on form 1099B.
DESCRIPTION
On the obverse or front face of the coin is the Liberty figure, originally designed by noted sculptor Augustus Saint-Gaudens in 1907. She is shown in full length image, holding the torch of enlightenment in her left hand and the olive branch, a symbol of peace, in her right hand.
On the reverse side of the coin is a family of eagles executed by sculptor Miley Busick. It shows the male eagle carrying the olive branch, flying above a nest containing the female and her eaglets. This side symbolized unity and family tradition. The coin's common nickname “gold eagles” comes from the design on this side.
The coin is 32.7 millimeters in diameter and its composition is 91.6% gold, 3% silver, and 5.33 % copper, creating a 22 karat gold alloy. The total weight is 1.0909 troy ounces with 1 ounce of gold per coin.
PROOF AND UNCIRCULATED
The most expensive of these coins in the proof coin, produced by a special minting process that involves the manual feeding of the burnished coin blanks into presses with special dies. The coin is struck multiple times so the result is a highly detailed and frosted image on a highly mirrored field. The price of these coins is based on the Mint's pricing policy and it changes periodically with the fluctuating price of gold. Each proof coin is packaged in a blue velvet silk lined case and carries a Certificate of Authenticity.
In 2006, the US Mint made uncirculated gold American Eagles in the 1 ounce size available to purchasers for a fixed price. These coins contain the “W” Mint mark. The coins are struck on selected burnished blanks and hand loaded into the press.