American Eagle Coin: Gold & Silver, Sizes, & Where to Buy 

Have you been watching on the sidelines as the prices of gold and silver have been rising dramatically in the past year?

If so, American Eagle gold and silver coins are a convenient way to participate in the precious metals markets. 

With all that’s been happening in the world – massive government deficits, wars in multiple places, inflation, and a host of other problems – gold and silver have proven to be one of the best investments in times of instability.

American Eagle gold and silver coins are a perfect way to protect your portfolio against those uncertainties.

Learn all you need here.

About the American Eagle Coin

Though the U.S. Mint has a long history of minting gold and silver coins as both legal tender and a medium of exchange, that practice ended in 1933 (explanation provided in the next section).

Though gold and silver coins are no longer considered legal tender, both have been in renewed production since 1986.

By law, American Eagle gold coins must contain only gold mined from US sources.

Though the coins contain one troy ounce of pure gold, they are alloyed with small amounts of silver and copper to reduce wear and tear on the coin finish.

This owes to the fact that pure gold is a relatively soft metal that can be easily scratched or chipped.

History

The US government minted both gold and silver bullion coins up until 1933, when the administration of Franklin D. Roosevelt issued a confiscation order on gold in favor of exclusive use of Federal Reserve notes (“dollar bills”) as legal tender.

From 1933 until 1974, American citizens were prohibited from holding gold bullion, other than small amounts held in the form of commemorative coins.

Coins issued up until that time included the pre-1933, $20 Liberty Gold Double Eagle coin and the Morgan Silver Dollar.

There were many different variations and denominations of gold and silver coins minted by the government up until that point.

Minting of silver coins, including silver dollars, half dollars, and dimes, continued until 1965.

At that time, the price of silver exceeded the nominal coin value of each denomination necessitating the removal of bullion from the coins.

The legal status of gold ownership was restored in the US in 1974.

But it wasn’t until 1986 that the US Mint launched the American Eagle Coin Program. At that time, it began minting gold and silver American Eagle coins.

Production of American Eagle platinum coins began in 1997, followed by American Eagle palladium coins in 2017.

The decision to begin minting gold coins in 1986 enabled the US to have its own bullion coins to compete with those issued by foreign governments, such as the then widely popular South African Krugerrand.

The funds raised from the sale of those US coins was intended to reduce the national debt.

Design

Though American Eagle coins come in both gold and silver, their designs are completely different.

When the first minting of the American Eagle gold coin began in 1986, the design was based on the 1907 Liberty gold coin.

That coin featured the Walking Liberty design provided by sculptor Augustus Saint-Gaudens.

The image was that of a full-length figure of Lady Liberty holding a torch in her right hand and an olive branch in the left. The 1986 coin represented a refreshed version of the 1907 design.

From 1986 until 2021, the coin featured an image of a family of bald eagles in and around a nest. That image was designed by sculptor Miley Busiek (now Frost).

However, in 2021 the reverse image was redesigned to feature the head of a bald eagle. That image was provided by Arizona-based artists, Jennie Norris.

Though the gold coin is available in half-ounce, quarter-ounce, and 1/10^th ounce sizes, the design of each denomination is identical to that of the 1 ounce coin.

The American Eagle silver coin is available only in denominations of 1 ounce. It uses the “Walking Liberty” design by sculptor Adolph A. Weinman, replicated from the 1916 half dollar.

Though the image on the front of the coin is similar to that of the American Eagle gold coin, there are significant differences.

Lady Liberty appearing on the front of the silver coin is shown as being in full stride, wrapped in the folds of the American flag, while her right hand is extended, and branches of laurel and oak are held in her left hand.

Similar to the American Eagle gold coin, the reverse side of the American Eagle silver coin was revised in 2021. It features an eagle landing, carrying an oak branch to its nest.

The reverse image was designed by illustrator and designer Emily Damstra.

Best Places to Buy American Eagle Coins

Though American Eagle gold and silver coins are minted by the U.S. Mint, they are not available for direct purchase by the general public through the mint.

Goldco

Goldco serves as both a precious metals dealer and a provider of gold and silver IRAs. In fact, Goldco is one of the top providers of precious metals, dealing primarily in gold and silver bullion coins.

JM Bullion

Much like Goldco, JM Bullion is a precious metals dealer, also offering precious metals IRAs. They offer bullion, commemorative, and numismatic coins in gold, silver, and copper.

APMEX

APMEX is another popular precious metals dealer offering precious metals IRAs. The company has provided more than $18 billion in precious metals to more than 1.7 million customers.

Are American Eagle coins a good investment?

Before determining if American Eagle coins are a good investment, you must first determine if gold and silver are the right investments for your own investment portfolio.

After all, both gold and silver American Eagle coins are bullion coins, which is the entire basis of their value.

If you believe gold and silver are likely to rise in price in the future, you may want to buy and hold the coins.

If you do invest, be sure to commit no more than a small percentage of your overall portfolio to these coins.

That’s because American Eagle coins do not pay interest or dividends, and prices can vary widely over long time spans.

The idea is to add diversification without materially increasing overall risk in your investment portfolio.