Congress authorized the Gold American Eagle coins via the Gold Bullion Coin Act of 1985, with their first issue occurring in 1986. Whether it be 1 oz, 1/2 oz, 1/4 oz, or 1/10 oz, the Gold Eagles are guaranteed by the US government to contain that amount of actual gold weight in troy ounces. The Act stipulates that the gold must come from sources within the US. While mintage of 1/10 oz Gold Eagles increased from 250,016 in 2004 to 300,043 in 2005, mintage of the other 3 weight Gold Eagles decreased from 2004 to 2005. Right now, Silver.com has the 2005 1/10 oz Gold American Eagle coin available for purchase.
- Ships in a protective plastic flip!
- From the 20th year of the Gold American Eagle coin series!
- Consists of One Tenth Troy ounce of actual gold content.
- Bears a face value of $5 (USD) fully backed by the government of the US.
- Lady Liberty is featured on the obverse.
- A family of eagles is featured on the reverse.
The Gold American Eagle coins are made of a sturdy composition of 22 karat gold. They are comprised of 91.67% gold, 3% silver, and 5.33% copper. Since their first issue in 1986, the 1 oz Gold Eagles have most often had the highest mintage numbers, being beaten out occasionally for top honors by the 1/10 oz Gold Eagles. The 1/10 oz Gold Eagles, when not beating out the 1 oz Gold Eagles, have always occupied 2nd place.
In 2001, the price of gold began a steady climb, closing consecutively higher 5 years in a row by 2005. The price of gold began the year at $427.75 per ounce, and late in the year surpassed $500 per ounce, a feat not seen since 1987. The price of gold closed out the year at $513.00 per ounce, which was an increase of over 17% from the closing price in 2004.
Being dissatisfied with the status of US coinage, in 1904, President Theodore Roosevelt commissioned new designs. He chose Irish-born Augustus Saint-Gaudens to redesign the nation’s coinage. Saint-Gaudens’ new Lady Liberty design initially appeared on the Double Eagle ($20) gold coins through 1933. It is a version of that Lady Liberty that is the obverse design on the Gold American Eagles today.
The obverse of the Gold American Eagle depicts the full-length figure of Lady Liberty created by Saint-Gaudens. She is walking directly at you. Her hair is flowing behind her, a torch in her outstretched right hand and an olive branch in her left hand. To the left of her feet is a depiction of the Capitol building.
The reverse of the Gold American Eagle depicts the family of eagles created by Miley Busiek and sculpted by Sherl J. Winter. One eagle, carrying an olive branch in its claws, is flying towards a nest occupied with an eagle family. This design is said to embody the importance of unity and family tradition in America. It includes several inscriptions as well.
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