US Mint Halted Sale of American Eagle Gold Coins
August 23, 2008
American Eagle bullion coins are short in supply, but investors jumping to own them due to a recent sharp retreat in gold prices.
"Due to the unprecedented demand for American Eagle gold one-ounce bullion coins, our inventories have been depleted. We are therefore temporarily suspending all sales of these coins," the U.S. Mint told authorized coin dealers in a memorandum dated on Friday.
"We are working diligently to build up our inventory and hope to resume sales shortly," the Mint said.
Coin dealers from the United States to Canada reported a surge in buying of bullion coins and other gold products since prices plummeted from highs last month. The buying spree contributed to supply fears and helped boost gold prices sharply on Thursday.
The move by the U.S. Mint to halt sales caught market participants by surprise as it came at a time when the metal was sharply falling, rather than rising.
Produced from gold mined in the United States, the American Eagles have been novel items among collectors and investors since their introduction in 1986. Each coin has a face value of $50 but it is sold by authorized dealers at a premium to the price of gold.
Why is the American Eagle Coin So Popular
August 17, 2008
The renowned American Eagle Coins, also known as the American Eagle Bullion Coins, have been issued basically for collectors. That means they cannot be sold for commercial purposes. For a bank or brokerage firm to be able to even sell one of these spectacular rare coins, it must first get approval from the United States Mint or any other establishment.
They were basically designed to add value to an investor's portfolio and physical amounts of gold, silver, and platinum into their investments. These beautiful rare coins are of the highest quality and are the best selling investment in America. With America's constant fluctuating economy, they have become a solid investment, and since their issue date in 1986 their popularity has flourished.
President Franklin D. Roosevelt signed the "Gold Confiscation Act" in 1933, which made it illegal to own gold, thus putting an end to all circulation and private possession of any United States gold. However, during the presidency of President Richard Nixon, which was in the early 1970's, the right to own gold was finally restored. In 1986, the Gold American Eagle program was authorized by President Ronald Reagan, which once again began the process of minting non-commemorative gold coins for collectors.
Buy American Eagle Gold Coins - But Know Your Specs First
August 12, 2008
If you are planning on buying American Eagle Gold Coins to invest, or are just a coin collector, it is important to know what it is you are buying.
The following in a listing of the size, content, weight and U.S. Government backing, and all gold proof coins available. This information is accurate, as the source is the United States Mint, who creates the coins.
All American Eagle Gold Proof Coins are legal-tender and contain 91.67% (22 kt) gold. The difference from the 91.67% to 100% relate to the additional alloys needed to harden the coin. Gold alone is too soft.
Coins are available in one ounce, half-ounce, one-quarter ounce, and one-tenth ounce. Each coin denomination will affect the size, and weight of the gold coins.
* The one ounce coin carries a $50 face value, is 1.287 inches in diameter, contains one gold troy ounce and weighs 1.0909 troy ounces.
6 Tips to Buy Gold Coins on eBay Safely
August 9, 2008
eBay is well-known for its bargain prices on everything, including gold coins. If you want to buy gold coins either as investment or collectible coins, you should drop by eBay and check recent gold coin auctions. You would be surprised what you can discover there.
Do not expect to buy gold coins at 50% or even 30% discount there, it’s simply unrealistic. However, you can find great coin deals having gold prices below what is offered on websites specializing in selling gold bullions and gold coins. If you save 5-10% on eBay, it means you are getting one free gold coin with every 10 coins purchased. Talking about smart investing…
But you also want to have a pleasant and save experience with your eBay purchase. Read the tips below and you would never have to worry about your gold coin purchase again.
American Eagle Gold Coins - Why These Gold Bullion Coins Are a Worthy Investment
August 5, 2008
There's never been a better time to buy American Eagle Gold Coins. An economic recession is almost assured. Along with the varied fluctuations in the stock market and the downward trend in the real estate sector, more investors are compelled to put their money in items that will hold value, such as bullion coins. A recent trend analysis puts the gold market as one of the most flourishing areas of investment, offering the maximum returns.
Most investors select mint gold Eagle coins as their option for gold coin investments, as these are of assured quality. Likewise, coin collectors, as a hobby or antique collection, prefer American Eagle coins, which are 91.67% purity or 22 karat. Generally pure gold is actually a mixture of the soft yellow metal and other metals like silver and copper, to make it more wear-resistant.
American Eagle coins are made out of gold mined in United States. These bullion coins were first released from the US Mint in 1986 and are of assured 22 karats.There are two varieties of gold American Eagle coins - the bullion and the proof.
The bullion coins contain the best raw gold and is highly suitable for solid investment. These are readily available and are a worthy and safe investment. These coins have been recognized, appreciated and sold the world over. Many coin buyers consider bullion coins as the best option for a long-term investment.
Egyptian Couple Found U.S. Gold Coin Worth $15 Million in Closet
August 2, 2008
Rare U.S. double eagle gold coin that could be worth up to $15 million has been found by an Egyptian couple as they cleaned out their flat, the Qatar Ar-Raya newspaper said on Monday.
The precious piece of gold was discovered in an old box that had once belonged to Mohamed Ismail's grandfather while he and his wife, Fatima, were throwing old clothes and broken furniture out of a closet.
Mohamed subsequently sent the coin to experts, hoping that he would get a few dollars for it. However, the tailor was shocked when the experts told him that his grandfather had left him a unique coin of historical value.
US Gold Eagle Coin
August 1, 2008
The US Gold Eagle coin was first minted in 1986. It is an official gold coin of the United States authorized under the Gold Bullion Act of 1985. This coin was available in many denominations. The US Gold Eagle coin is unusual in that it is the only gold bullion coin guaranteed as to weight and gold content. The gold in the coin must come from American sources. This is a great coin to include in any collection, and is an absolute necessity in a collection of gold coins.
The US Gold Eagle is available in four different denominations: 1/10 ounce, ¼ ounce, ½ ounce and 1 ounce of pure gold. The coin is guaranteed to contain the amount stated. The US Gold Eagle is treated with a metal alloy of copper and silver which creates a wear-resistant shell that protects the coin. The Gold Eagle is minted from 22 carat gold, and the content is more than .916 solid gold.
Lady Liberty graces the opposite side of the US Gold Eagle coin in her full glory with long flowing hair, a flaming torch in her right hand, an olive branch in her left. Behind her, you can see the Capitol Building. Augustus Saint-Gaudens created the portrait of the Statue of Liberty, bordering her with fifty patriotic stars. Miley Busiek created the male eagle on the reverse side, carrying an olive branch. He is circling a nest containing a female eagle and her newly-hatched chicks.
