Interesting Facts about the American Gold Eagle Coin
Not to be confused with the pre-1933 ten-dollar gold coins which are officially designated as “eagles”, the weight of the American Gold Eagles is usually included in describing them to avoid confusion. Therefore, the one-ounce American Gold Eagle is called a “one-ounce American Gold Eagle”, the half-ounce American Gold Eagle is called “1/2-ounce American Gold Eagle”, and so on. This is especially important when calling the quarter ounce coin as a “1/4-ounce American Gold Eagle” as it also has a ten-dollar value like the pre-1933 coins.
American Gold Eagles are minted in 22-karat (or 91.7%) gold mixed with silver and copper alloys to make them harder and scratch- and mar-resistant. Bullion coins’ weight, content, and purity are guaranteed by the United States Government and can also be included in an Individual Retirement Account (IRA).
Are American Gold Eagle Coins Valuable?
Yes, they are. The face values indicated are only nominal and do not reflect the metal value of the actual gold contained in these coins. This means that you may use the coins for buying and selling goods and services at their nominal value but you should rather not as their current gold spot values are way higher than their face values.
How much is a 2022 American Gold Eagle coin worth?
Depending on the quantity and the payment method, the current price for a 2022 one-ounce ($50 nominal or face value) American Gold Eagle coin is around $1,900 to $2,000. So, why would you even consider using your one-ounce American Gold Eagle coin to buy only $50 worth of goods or services when you can sell it for around 38 times more?
As of this writing, a 2022 half-ounce coin nominally valued at $25 fetches for around $1031, while a quarter-ounce coin with a $10 nominal value is priced at around $525, and a tenth-ounce coin nominally valued at $5 sells for around $212.
How do I buy or sell American Gold Eagle coins?
You can buy coins at any reputable dealer, pawnshop, or individual seller that you trust. Before doing so, verify first if they are listed in the U.S. Mint’s database. Then check the online gold price on the day you intend to buy on reputable sites. It’s normal to pay 5% to 8% markup to cover the dealer’s costs, but do not go beyond this recommended rate. Compare their prices and fees and lock in your purchase with the dealer whose offer best suits your preferences. You can also buy from the U.S. Mint, especially if you’re looking for very old and rare coins.
There are basically 3 ways to sell your coins: in person, online through a reputable exchange website, or through online auctions like eBay. If in person to a local dealer, they’ll most likely want to lock in the sale price through a phone call then verify the weight and clarity of the coins physically. If through an exchange website, check their reputation first through more objective reviewers. If through online auctions, they usually only require you to complete your registration and submit a photo of your gold.
In general, when investing in American Gold Eagle coins, like with any investment – don’t put all your eggs in one basket and rely only on the coins to substantially increase your wealth. Instead, study and create a diversified portfolio of investments, which ideally should also have gold in them as a hedge against inflation and market dips and as added security in terms of owning a physical precious metal like gold in the form of bullion coins.