In 1967, the South African government decided to help market South African gold by creating a gold coin designed to encourage private ownership of gold. Unlike many gold coins which were designed strictly for investment purposes, the Krugerrand was designed to be used in addition to regular currency. As much as this is a historic first in the gold coin market, there’s no denying that American Eagle gold coins, released almost 20 years later, has had more of an impact on the market than any other coin. Indeed, the American Gold Eagle is the most widely traded bullion coin, and there’s a good reason for that.
Prior to World War II, President Roosevelt made it illegal to own gold (see the Gold Confiscation Act of 1933 for more information) thus ending its use as a form of payment. In exchange for the gold, Mr. Roosevelt gave people $20.67 per ounce, and for forty years, private gold ownership remained prohibited in the United States. In 1974, President Ford authorized the ownership of gold. The U.S. government in 1986 under President Reagan, in a much softer stance towards citizen owned gold, then produced American Eagle gold coins.
There’s something to be said about increased sales after a long prohibition, and indeed from the time it was first introduced, American Eagle gold coins have soared to be one of the best selling coins on the market. Although it’s purity is only 22 karats, it was the purest gold coin in the history of the United States until 2005 when the U.S. mint produced its first 24 karat coin – the American Buffalo. And, most certainly, the fact that each coin’s purity and fitness is backed by one of the world’s largest governments doesn’t hurt either.
While the government originally intended these to be a way for citizens to own 100% American gold, the beautiful design on these coins has prompted the government to take advantage of those who want them in pristine condition. The Mint offers two variations of American Eagle gold coins: one for bullion investors and one for collectors. The collector version goes through an incredible molding process to ensure that the quality of the coin is top notch. They are hand loaded into a machine and struck multiple times to ensure softly frosted, yet detailed images that seem to float above a mirror-like field. This ensures a beautiful, quality product like none other.
Although there’s certainly been an impressive “on-and-off” permission of private gold ownership, there’s no denying that the U.S. came back “with a bang”, so to speak, with the introduction of the American Eagle. From a 40-year outright ban on gold ownership to a breathtakingly stunning gold coin featuring Lady Liberty on the front and a flying eagle on the back, the U.S. government has certainly atoned for its gold-denying past. There’s no doubt, in my mind or anyone else’s, that the future remains very bright for American Eagle gold coins and their owners!
There is no doubt that American eagle gold coins are one of the most sought after gold coins in the world. The beauty, and pristine condition of these coins is hard to beat. We encourage you to visit our website and learn more about these beautiful coins, as well as gold coins from all over the world. Please visit us at http://www.raregoldbullioncoins.com and take advantage of our free information.
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