American Eagle Gold Bullion Coin

The American Eagle Gold Bullion Coin was first minted in 1986 and every year thereafter.  This U.S. Minted gold coin is classified by the government and the industry as Bullion since the law that was passed in 1985 is titled “The Bullion Coin Act.”  Designed after the historical Saint Gauden coin, The American Eagle was the first gold coin issued by the US Mint since 1933 when the nation left the gold standard and ceased issuing gold coins into circulation to be used as money.

The American Eagle Gold Bullion coins are minted at the West Point Mint in four sizes 1 oz, 1/2, 1/4 and 1/10 oz gold coins.  With the denominations of the coins from largest to smallest in size being, $50, $25, $10, and $5.  Yet the American Eagle Gold Bullion Coins were not minted to be money therefore they were not monetized.  They only contain a fraction of its actual gold content compared to their denominations.  They are titled as a business strike coin, that are mass produced every year.  These coins are sold in Brilliant Uncirculated (BU) condition.

Officials did not want these American Eagle coins to be used as money to compete with fiat (paper) money.  Rather these coins were sold by dealers when gold was allowed to be owned in America for the first time since the Bullion Confiscation in 1933.

These coins are also minted in Proof condition, which is a manufacturing process.  When the die is brand new the proof coins are a limited minted coin.  The round gold slug is polished front and back (obverse and reverse) to look like a gold mirror.  Then it is placed in the mint die and struck up to half a dozen times.  Then it is placed in a plastic case slightly larger than the coin.  Then placed in a velvet box with a certificate in it and then placed in a mint cardboard box.

Some dealers say because this is a special type of minted American Eagle Gold coin it is exempt from confiscation.  While just as many dealers say they are still classified as Bullion, because it was allowed to be minted due to “The Bullion Coin Act” passed in 1985.  In addition, the U.S. Mint has previously, at times, mass produced this coin for revenue to the government, therefore causing the price of Proof Gold to go down when gold spot prices moved up.