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1 oz American Gold Eagle - 2017

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$2,294.90

About This Product

- 1 oz of Gold
- Date of Mint: 2017
- Is IRA Eligible
- .9166 FINE GOLD
- Stock Photo

2017 American Gold Eagle Bullion Coin Description And History

The Coin.

The Gold American Eagle is the most popular US Mint struck gold bullion coin. The coin has been produced since 1986. Legislation passed in 1985 created the coin and set very specific requirements that are adhered to until this day.

The obverse, or front design, of the coin, is a rendition of Lady Liberty as envisioned and created by Augustus Saint-Gaudens. Saint-Gaudens was an artist commissioned by Franklin Roosevelt to create new designs for US coinage. Prior to this, the artwork had been left to engravers and this practice produced marginal to poor results. In addition to Lady Liberty, a depiction of The Capitol Building can be seen behind her to the left. Lady Liberty carries a torch in her right hand and an olive branch in her left. The all-capitalized word “LIBERTY” is scripted prominently in raised letters curved around the top of the coin. The date of the coin, as well as the mintmark, if there is one.

The reverse, or back of the coin, features a very detailed engraving of a male eagle, wings outstretched, over a nest of two eaglets and a female eagle. He carries an olive branch in his talons. The design also incorporates the words “UNITED STATES OF AMERICA”, which arc around the top of the design. The guarantee of “1 OZ. FINE GOLD” and the legal tender value of “50 DOLLARS” are curved around the bottom of the design.

On either side of the eagles is a motto. “E PLURIBUS UNUM” to the left and “IN GOD WE TRUST” to the right. E Pluribus Unum is Latin phrase which translates “Out of many, one”. This was the unofficial motto of the US and has been part of US coinage since the 1700’s. not until 1956 did the official motto of the US become “In God We Trust”. Congress passed an act which made it so.

This design is the work of Miley Busiek. Busiek, who has changed her last name to Tucker-Frost since was not an engraver or a US Mint employee. Rather, she was an artist and a mother. Ronald Reagan commissioned her to create a small sculpture as a souvenir commemorating his first inaugural. The statue was to be based on her rendering of a family of eagles.

As fate would have it, Reagan would eventually be responsible for banning the South African Kruggerand, a gold bullion coin, and then calling for the creation of a US gold bullion coin. The legislation specifically called for a design depicting a male eagle carrying an olive branch flying above a nest of eaglets and their mother. Busiek was not mentioned specifically, but the intent was clear. US Mint engravers adapted her drawings to the design which currently graces the obverse of the coin.

The Metal.

The American Gold Eagle is not pure gold. The US Mints do strike an official coin which is, however, and that coin is the American Gold Buffalo. The American Gold Buffalo has a gold purity of .9999. The American Gold Eagle is 22 karat gold. In this case, the alloy (blend of metals) is a particular blend known as “Crown Gold”. Exactly 91.67% of this coin is pure gold. The remainder of the coin is 3% silver and 5.33% copper. This alloy makes the metal harder and better suited for the making of durable coins that can be impressed with complex details. The mixture also enhances the shine and luster of the coin.

Of interesting note, this one-ounce gold coin weighs more than one ounce. The American Gold Eagle contains one troy ounce of pure gold. The remaining silver and copper components combine to give the coin an overall weight of 1.0909 troy ounces. This fact is not unique to the one ounce American Gold Eagle. The coin is produced in other fractional sizes. They are 1/2, 1/4, and 1/10th troy ounce versions, and are marked as such. These coins contain their stated weight in pure gold, but likewise actually weigh heavier due to the silver and copper content. ITM Trading offers these fractional US gold bullion coins, as well.

The Mint.

The 2017 American Gold Eagle bullion coins are struck at the West Point Mint in West Point, New York. This US Mint is an impenetrable fortress designed with rooftop machine gun turrets and recessed concrete doorways. These doorways essentially require any potential intruders to position themselves like targets in a shooting gallery. The mintmark for the West Point mint is a capital “W”. Only the Proof and Uncirculated versions of the gold coin carry the mintmark. The coins for sale on this page do not carry a mintmark.

If you are interested in purchasing Proof or Uncirculated versions of the American Gold Eagle coins, in any size, call ITM Trading at 1.888.OWN.GOLD.

The Demand.

Legislation for bullion coins typically calls for a production which is equal to demand. That being said, demand for American Gold Eagles surges during times of world financial instability. For instance, in 2007 roughly only 140,000 of the one-ounce coins were produced. Demand skyrocketed when markets collapsed in 2008. In 2008, 710,000 of the one-ounce coins were produced.

By 2009, a production of almost 1.5 million was not enough to satisfy investor demand. In 2010, more than 1.1 million of the one-ounce coins were produced and sold. Production would not fall back to pre-2008 levels until 2012, proving a strong and sustained demand for the safe-haven coins. Recent history shows us that the time to purchase American Gold Eagles is before there is trouble in international markets and currencies.

American Gold Eagles In Your IRA.

Also, if you are thinking about converting your IRA or 401 k to a physical precious metals-backed IRA, ITM Trading can do that for you. Once all of your questions have been answered, ITM Trading can help establish your IRA account and then fulfill the delivery of precious metals. American Gold Eagle bullion coins and Proof coins can be placed inside of your IRA account. Silver American Eagles are likewise eligible to be placed inside of a precious metals-backed IRA. 

 

 

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