The iconic American eagle gold coin is one of the most highly sought after and coveted coins collected by numismatics and gold investors. They can be worth far more than their face value or weight in gold. This article will tell you about the history of the gold eagle, help you identify what type you have, and how to determine what it’s worth.
Is your gold coin old or new? Gold coins were minted by the US from 1795 – 1933. Then, 53 years later, in 1986 the American gold eagle was reintroduced as the official gold bullion coin of the United States.
Gold Eagles 1986 – Present
In 1985 congress passed the “Gold Bullion Coin Act of 1985” and the following year, 1986, the American Gold Eagle was available to the public in various gold weights: 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz. It’s been a hit since it’s release among coin collectors and gold investors. It’s also the official gold bullion coin of the United States.
Gold Eagles Pre-1933
During the Great Depression FDR signed an executive order demanding all gold coins be returned to the US Treasury. They were melted down into gold bar. It was illegal for US citizens to own gold coins until 1974 when President Gerald Ford signed a bill that would legalize American citizens to “hold, sell, or otherwise deal with gold…”.
Pre-1933 gold coins are rare simply because they were illegal to own until 1974. They should have been turned in by their owners and melted into gold bars. This makes them far more valuable than their weight in gold, especially if they’re in good condition. Collectors will pay top dollar for old gold coins in excellent condition.
Value of Gold Eagle Coins
If you want to know what it’s worth, just check Mavin to see what it’s sold for in the past, and what it’s currently selling for.
- Enter the year
- Enter the name of the coin. If it’s a modern gold coin enter gold eagle for the name. If it’s pre-1933, enter gold Indian head, gold liberty head, or gold capped bust.
- If it’s a modern gold coin, enter the weight: 1 oz, 1/2 oz, 1/4 oz, 1/10 oz
Let’s say I have a $10 gold eagle from 1990 and I want to know what it’s worth. I type “1990 1/4 oz $10 gold eagle” into the search box and get a bunch of results and a price estimate of what it’s worth. Based on the results it found it’s my gold eagle has an estimated value of $515.38.
That seems a little high to me so I pick a few comparables that look to be in similar condition as mine and it calculates an estimated worth of $395.33.