As of April 21, 2011, the United State Mint had started accepting orders for the delivery of the 2011 American Eagle US Gold Coins. By the first week of May 2011, the Mint had already sold 62,000 ounces of the coin, the highest monthly amount since March 1999. With their mirror-like background and frosted foreground, these US gold coins possess a special cameo effect. Popular for their superior quality strikes, exquisite designs and pure gold content, they are a favorite among investors and coin collectors alike.
US Gold Coins: Sales
The sales figure by the first week of May (62,000 ounces) is 57% of the total sales in April 2011. The figure is expected to touch 240,250 ounces in May if the pace continues. As on May 02, 2011, as worries about inflation, Europe’s debt crisis, and Middle East and North Africa conflicts rise, gold rises also rose to a record $1,577.57/ounce. Higher prices also lead to higher demand, especially if the driving factor is fear. As of May 09, 2011, the demand for and purchase of gold continued to rise despite the fall in gold prices.
All about the 2011 American Eagle US Gold Coins
Here is all you need to know about the 2011 American Eagle Gold coins:
- They are the only gold coins of 91.67% fineness that are guaranteed by the US Mint in terms of gold weight and content. As the US government guarantees the gold content, weight and purity of gold eagle coins, investors and collectors are able to buy them with confidence. Hence, the sales and circulation of the coins have also increased.
- American Eagles are the official legal tender US gold coins, as they are authorized by a 1986 Act of Congress. The coins’ legal tender value is $50.
- Their specifications include: 32.70 mm diameter and 1.0909 troy ounce weight.
- Each coin has its total weight embossed on the reverse of the coin.
- Every coin has some copper and silver content to protect the surface from wear and tear. The 91.67% pure gold coin has 11 parts gold and one part alloy. Every ounce (with 33.9 grams weight) has 31.1 grams of pure gold and additional alloys. This makes it more scratch resistant than pure gold coins (99.9% pure). Hence, their resale value does not decrease.
- The pricing structure for American Eagle is the same that the US Mint follows for precious metals.
- Orders for the 2011 American Eagle Gold coins are placed with an authorized dealer.
The Gold Eagle coins were produced by the US government from 1795 to 1933 (Eagle was a denomination unit meant solely for gold coins). The US government produced double, half and quarter eagles. The eagles weigh 1.0909 troy ounces, half eagles weigh .5455 troy ounces and quarter eagles weigh .2727 troy ounces. The diameter and thickness of the eagle are 32.7 mm and 2.87 mm respectively; those of half eagle are 27 mm and 2.15 mm, and those of quarter eagle are 22 mm and 1.78 mm respectively.
The US Mint restarted production of the Gold Eagles again only in 1986. With the passage of the Gold Bullion Act the U.S. mint began mint coins of face value 50, 25, 10 and 5 US dollar denominations of US gold coins.