US Mint Gold Coins – All You Need To Know
US Mint Gold Coins – All You Need To Know
The US Mint sold 190,000 1 oz gold coins in May 2010, the highest since January 1999. In January 1999, the US Mint sold 208,500 1 oz gold coins . Sales of American Eagle coins surged 214% in April 2010, against the backdrop of volatility in the dollar and macro-economic uncertainties in the Eurozone. The price of gold bullion reached record levels at $1.248.95/oz in May 2010.
Types of US Mint Gold Coins
Broadly speaking, there are three types of US Mint gold coins:
Liberty $20 Gold Coin: Designed by James Longacre, these US Mint gold coins carried a weight of 33.43 gm, and gold content of 0.9675 oz. Composed of 90% gold, the Liberty $20 gold coins are scarce and therefore in high demand by investors and collectors alike. These coins came in three types – Type I (1849-1866), Type II (1866-1876), and Type III (1877-1907). Throughout its production history, the $20 Liberty gold coins were minted at five different mints – Philadelphia, San Francisco, Denver, Carson City, and New Orleans. During the era when the $20 Liberty was issued, the official price of gold was $20.67 per ounce. Gold content was fixed at 0.9675 per ounce, equaling its $20 value in gold weight.
St. Gaudens $20 Gold Coin: Designed by Augustus Saint-Gaudens, these US Mint gold coins weighed 33.43 gm, and carried gold content of 0.9675 oz. Composed of 90% gold, St Gaudens $20 gold coins were the most recognized and coveted gold coins during the US Industrial Revolution in the 19th and early 20th centuries. These coins are still very much in demand. In fact, a Double Eagle was sold for more than $7.5 million at Sotheby’s, New York in 2002, making the 1933 St. Gaudens Double Eagle the most valuable coin in the world. The $20 Saint Gaudens was officially minted in the US at three different mints – Philadelphia, Denver and San Francisco.
American Eagle Gold Bullion: The American Gold Eagle is an official gold bullion coin of the United States. Released by the US Mint in 1986, these coins come in four variations – 1/10, 1/4, 1/2, and 1 oz of pure gold. American Eagle coins are authorized by the US Congress and are guaranteed for their weight and gold content by the US Treasury Department.