The American Eagle: One of the Celebrated Gold Coins
There are several reasons for which individuals choose Gold Coins. Among these is the fact that gold has a safe haven status among investments. Moreover, as compared to jewelry and other gold items, gold coins are less exposed to wear and tear. Also gold coins sold by the US Mint are guaranteed for the purity of their gold content.
The US mint finally sold its last two 2010 American Gold Eagle Proof Coins on January 25, 2011. The new 2011 Gold Eagle Coins were released for sale earlier this year on January 3. The US Mint has also announced that it will offer its 2011 Gold Eagle proof Coins on April 21, 2011. Its one-ounce Uncirculated 2011 Gold Eagle Coin is scheduled to launch on May 5, 2011. Gold has been in use for trading and money storage for ages.
Although the global economy is seems to be improving, the recent recession has left some long-term markets reeling. These are in the form of high unemployment, low confidence in the stock market and uncontrolled inflation. Many investors are still relying on investments that are perceived as “safe havens.” This has been the major driver for the surging gold prices over the past few years. The difficult economic climate has pushed up the demand for gold coins minted by the US.
Gold Coins: The American Eagle
The American Eagle is the official gold bullion coin minted by the US government. This coin has a fineness of 0.9167 or 22 karat. Also, the gold used to mint this coin comes from reliable sources of the mint. The coin is certified by the United States Congress and backed by the mint for its weight, content and purity. All these factors have greatly contributed to the popularity of the coin.
Specifications of the American Eagle
The first series of the American Eagles was minted in 1986. The obverse of the coin features Lady Liberty and the reverse depicts a fearless flying eagle descending on to an olive branch where his mate and the nest lie. The design of this coin is inspired by the designs of Augustine Saint Gaudens, a famous coin designer of the early twentieth century.
The American Eagle gold coin is considered by many as one of the most beautiful coins ever minted by the US government.
Gold Prices
The price of gold rises as demand strengthens. The demand from Asian nations, which greatly contribute to the global demand for the yellow metal, is expected to be on the rise. One reason is China (the world’s second largest buyer of gold) has plans to increase its gold and silver reserves, according to a news article published on January 31, 2011 by the Economic Information Daily. Citing an interview with central bank adviser Xia Bin, the article says that increasing gold reserves by buying at the right time is aligned with the strategy of internationalizing the Chinese currency.
The Value of the American Eagle
The market value of the American Eagle gold coins is based on their gold content and purity. These coins are available in different denominations. However, the denomination value is far less than the actual value of its gold content. The face value of these coins is proportionate to their gold content. As of July 2010, the $5, $10, $25, and $50 coins by face value were sold for about $145, $325, $650 and $1,250, respectively. The actual selling price of these coins varies daily based on the current price of gold couns.