Gold is everywhere—in the earth, at the bottom of the ocean, in electronics, jewelry, central bank vault reserves, and even individual safety deposit boxes. In recent years, the awareness and popularity of gold coins and bullion as investment vehicles have grown dramatically. Among these, American Gold Eagles have become the world’s leading bullion coin in terms of volume purchased. This article will discuss why people choose American Gold Eagles for their gold investments and provide insights on where to buy and sell them.
According to U.S. Mint annual sales reports, the Gold Eagle has been the number one gold bullion coin in the world. However, American Eagle coinage may not be best suited for your individual preferences. Outlined below are the pros and cons of buying U.S. Mint Gold Eagles.
Wear Resistance
When considering coin surface durability, it is important to understand just how malleable pure gold is. While gold is not subject to oxidation, it is incredibly soft and subject to marring and general wear if not handled with extreme care. Pure 24k gold can scratch easily, which may diminish its resale value. To address this, adding a hardening alloy to gold improves its durability and reduces the risk of blemishes. The 22k 91.67% fine gold American Eagle, with alloys of copper and silver, offers a significant advantage in this regard. As a true medium of exchange, the American Eagle is considered by many to be the best choice.
Popularity
Without a doubt, American Eagles are now the most popular of gold bullion coins. From 1986 to 2023, Eagles were produced and sold by the U.S. Mint at the average mintage rate of 602,000 coins per year. [See Annual Mintage Chart Below*]
Longevity
The American Gold Eagle has been established in the gold marketplace for nearly four decades. Although longevity is not essential in terms of its value, it does lead to the next extremely important factor: recognizability.
Recognizability
Because of the American Gold Eagle’s greater longevity and popularity, it is more globally recognized—quite possibly the most recognizable coin in the world. Since its imagery is a copy of the final version of the United States’ famed $20 Double Eagle gold piece, this is a benefit for purposes of exchange and global liquidity. Recognizability, along with its popularity and wear resistance, make the American Eagle the top gold coin choice for a more survivalist line of thinking for potential use as precious metals currency.
Popularity Trend
Though often overlooked, one important factor for investors to consider when determining which gold bullion coin is better is the trend in popularity. From 1986 to 2000, the newly introduced American Gold Eagle enjoyed immediate popularity and captured a significant portion of the gold investor market share. However, in this century, shifting market dynamics due to increased competition, particularly with the growth in ingot sales, suggest lower market share. Despite this, the overall demand for gold continues to grow, and average annual mintages of American Gold Eagles are only down about 5.4% this century.
Large World Supply
Since 1986, the U.S. Mint has produced over 23 million one ounce Gold Eagles. The large supply of these coins available worldwide means there are many that could potentially be bought or sold at any time. This extensive global supply, along with increased competition, may lead to softer American Eagle premiums in the secondary market compared to other gold coins.
Purchasing Costs
The purchasing costs of U.S. Mint gold coinage are generally greater than those of competing top-quality gold coins.
Gold Purity
The fineness of a Gold American Eagle is 91.67%, or 22k gold, with the balance in copper and silver alloy. In contrast, all bullion coins, except Krugerrands, are produced in pure 24k, 999+ fine gold. Investors are increasingly favoring pure gold in their gold coin investments.
There are many places to buy American Eagle Gold Coins, but for investors, both buying and selling are equally important transactions. At Monex, you benefit from the liquidity and service of one of the largest and most longstanding two-way physical precious metals markets in America. Although Gold Eagles are just a small part of the Monex marketplace, nearly one million American Gold Eagles have been sold, representing a value today of over two billion dollars. When you decide to sell, investors will appreciate Monex’s buy-back service, as it offers the convenience of easy cash liquidity for your bullion.
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