Coin collecting has existed for many decades, and many have trotted around the globe in search of precious coins, among them gold coins.
Gold coins are very popular among collectors because of their high market value.
Many gold coins have been produced over time, and the most popular one is the American eagle gold coin which was first produced in 1986 and produced by the United States Mint. It is the American government’s official bullion coin. As a wise collector, you must learn as much as possible before collecting this series of coins. Below are things you need to know about this coin.
Table of Contents
Type of the Coin’s Finishes
The 1986 series of this coin comes in different finishes. The main 3 types are Proof, Burnished, and Brilliant Uncirculated(BU). The burnished are uncirculated, less polished, and have a dull finish. Before being sold to collectors, they are hand-loaded into a press and stamped.
Proof coins are shinier as they have a more polished look, are considered high quality, and are sold with a certificate of authenticity. BU is uncirculated and looks as good as it did when first produced.
The Coin’s Anatomy
It has the obverse/ front, commonly known as the “heads” side, and features the Lady Liberty holding an olive branch in one hand and, on the other hand, a flaming torch. The reverse “tails” has the weight and face value of the coin.
Size and Price of the Coin
The American eagle gold coin is valued by weight, and the value of the numismatic coin depends on its mintage, age, condition, and rarity. It comes in different sizes, and the price of 1 oz is $50, ½ oz is$ 25, ¼ oz is $ 10, and 1/10 oz is $ 5. These versions contain 91.67% gold, 3% silver, and 5.33% copper. The silver and copper strengthen it, making it durable while protecting it from damage and scratches.
Year of Production
When collecting the American eagle gold coin, it is vital to know which year a mint produced a specific coin. You can collect several coins from one particular year or have one for each year. These gold coins were first minted in 1986, and until 1992 they had Roman-numeral dating. From 1992 to date, they have Arabic numbers. The year inscribed on a coin indicates the year it was minted.
Mint Marks
Understanding mint marks is essential for any collector. The American eagle bullion has no mint mark; this was intentional as it is sold for its metal value and not numismatic value. The proof and burnished have the “W” mark for West Point. The mint mark, often a small letter, shows the production location and will aid you in the identification process.
Summary
The American eagle gold coin continues to be one of the most sought-after coins; its quality and scarcity add to its value. Understanding the above will help you know what to look for when collecting it. It is suitable for a first-time or experienced collector.
Also, Read – Why TikTok is the next big thing for businesses?
