The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. Because the term “eagle” also is the official United States designation for pre-1933 ten dollars gold coins, the weight of the bullion coin is typically used when describing American Gold Eagles (e.g., “1/2-ounce American Gold Eagle”) to avoid confusion. This is particularly true with the 1/4-oz American Gold Eagle, which has a marked face value of ten dollars.
Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in the United States, alloyed with silver and copper to produce a more wear-resistant coin. In addition, sales of these and other specie coins from the US Mint are mandated, at least in part, to pay off the national debt.
The 22 kt gold alloy is an English standard traditionally referred to as “crown gold”. Crown gold alloys had not been used in U.S. coins since 1834, with the gold content having dropped since 1837 to a standard of 0.900 fine for U.S. gold coins. For American Gold Eagles the gold fraction was increased again to .9167 or (22 karat). It is authorized by the United States Congress and is backed by the United States Mint for weight and content.
The obverse design features a rendition of Augustus Saint-Gaudens’ full-length figure of Lady Liberty with flowing hair, holding a torch in her right hand and an olive branch in her left, with the Capitol building in the left background. The design is taken from the $20 Saint-Gaudens gold coin which was commissioned by Theodore Roosevelt to create coins like the ancient Greek and Roman coins. Since 2021, the reverse design by designer Jennie Norris features a close-up side profile of an eagle.
From 1986 to 2021, the reverse design by sculptor Miley Busiek featured a male eagle carrying an olive branch flying above a nest containing a female eagle and her eaglet.
