American Gold Eagle Proof 1 oz
Each year the US Mint produces a limited number of American Gold Eagle Proof 1 oz gold coins. These special editions are struck each year and feature the highly reflective, mirror surface displayed with modern brilliant proof coins.
The front of the coin features Liberty walking holding a torch in her right hand and olive branch in the left, the design adapted from the famous $20 gold piece by Augustus-Saint Gaudens (1907-1933). The background features a beautiful sun ray pattern, the White House and the date the coin was minted.
The reverse features a family of nesting eagles, Untied States of America, E Pluribus Unum (out of many one), In God We Trust, 1 oz. Fine Gold and the coin’s legal tender value of $50.
The legal tender value is symbolic because this coin while carrying a higher premium than the regular production bullion Gold Eagle does move directly with the price of gold.
The premium on the proof can change quickly and recently has ranged between $200.00 and $300.00 more than the similar uncirculated American Gold Eagle 1 oz.
The word proof as applied to precious metal is a method of manufacturer and not a condition. For a coin to be a proof it must go through many extra steps in the manufacturing process. It must be handled with extra care and the American Gold Eagle Proof 1 oz is struck on a highly polished, mirrored coin blank as opposed to the matte finish seen on regular production American Gold Eagles.
The American Gold Eagle Proof 1 oz is encapsulated in a hard plastic holder which fits tightly into the US Mint’s custom blue felt box. The packaging and special certificate issued by the US Mint are important and should be retained.
There are other advantages to owning the American Gold Proof Eagle 1 oz: (1) the American Gold Eagle Proof 1 oz is minted in limited numbers so collector value may develop over time as investors compete for date sets. (2) The American Gold Eagle Proof 1 oz is Individual Retirement Account approved. (3) The American Gold Eagle Proof 1 oz is easy to buy and sell because CNI and other large dealers post daily buy/sell prices. (4) The American Gold Eagle Proof 1 oz contains exactly one ounce of the gold and is alloyed with a small amount of copper which makes for greater durability. (5) Unlike the South African Krugerrand (1 oz) or the Canadian Gold Maple Leaf (1 oz) the American Gold Eagle Proof is not reportable on Federal Form 1099B when the public buys or sells.
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