American Gold Eagle: sizes, gold content and what to know before you buy

At a glance

Made by	United States Mint
First issued	1986
Sizes	1 oz, 1/2 oz, 1/4 oz and 1/10 oz
Face values	$50, $25, $10 and $5
Alloy	91.67% gold, 3% silver, the rest copper (22 karat)
Gold content	The stated weight, so one troy ounce in the 1 oz coin
Allowed in an IRA	Yes

Sizes and specifications

Size	Face value	Total weight	Diameter	Pure gold
1 oz	$50	33.931 g	32.70 mm	1.0000 troy oz
1/2 oz	$25	16.966 g	27.00 mm	0.5000 troy oz
1/4 oz	$10	8.483 g	22.00 mm	0.2500 troy oz
1/10 oz	$5	3.393 g	16.50 mm	0.1000 troy oz

A 1 oz Eagle weighs about 1.09 troy ounces in total, because the silver and copper are added on top of a full ounce of gold. Dealers price the coin on its gold content, so you aren’t paying gold prices for the alloy.

Why it’s 22 karat

Pure gold is soft. The Mint alloys the Eagle with silver and copper so it stands up to handling, which also gives it a slightly deeper color than 24-karat coins.

The lower purity only matters if you want the purest gold for its own sake. For value, what counts is the amount of pure gold, and every Eagle contains its full stated weight.

Can Gold Eagles go in an IRA?

Yes. The tax code treats most coins as collectibles, which an IRA can’t buy, and then makes specific exceptions. One of them names the American Eagle gold coins. That’s why the Eagle is allowed even though it’s below the 99.5% purity that other gold bullion has to meet.

The coins have to be held by your IRA’s trustee or custodian, usually at a depository. Keeping IRA coins at home counts as taking them out of the account. The gold IRA guide explains how the accounts work, and our guide to keeping IRA gold at home covers what happened when one investor tried it.

The design

The front shows Augustus Saint-Gaudens’ striding Liberty, adapted from the $20 gold coin the Mint struck from 1907 to 1933. From 1986 to 2021 the back showed a family of eagles at a nest, designed by Miley Tucker-Frost. In 2021 the Mint replaced it with a close-up of an eagle’s head designed by Jennie Norris, and restored details on the front to bring it closer to Saint-Gaudens’ original.

Collectors call the two versions Type 1 and Type 2. The 1 oz Type 2 coin added an anti-counterfeiting feature, a variation in the reeded edge. Both types hold the same gold, and for a bullion buyer either one does the job.

Bullion, proof and uncirculated versions

The Mint makes the Gold Eagle in more than one finish:

• Bullion coins are made for investors. The Mint doesn’t sell them to the public. It sells them to a network of large distributors, called authorized purchasers, who sell to dealers.
• Proof coins have mirror-like backgrounds and frosted designs, carry a “W” mint mark for West Point, and come boxed with a certificate. The Mint sells them directly, for well above their gold value.
• Burnished uncirculated coins, with a satin finish and a “W” mint mark, have also been sold to collectors.

If you’re buying for the gold, the bullion coin gets you the most metal for your money. Proof and collector versions are allowed in IRAs too, but the extra you pay for them is hard to get back when you sell. Our guide to proof vs. bullion coins explains why.

What a Gold Eagle costs

Dealers price Gold Eagles at the spot price of the gold they contain, plus a premium. The premium pays for minting, distribution and the dealer’s margin. It’s higher in percentage terms for the small sizes, because minting and handling costs don’t shrink in line with the gold content.

Eagles usually carry a bigger premium than foreign coins such as the Maple Leaf or the Krugerrand, and U.S. dealers usually pay a little more for them when you sell. Whether the easier resale is worth the higher price is a judgment call. To check a quote, compare it with the spot price, as explained in what gold really costs.

Selling Gold Eagles

Coin dealers all over the U.S. buy Gold Eagles. Buy prices vary, so get quotes from more than one. Keep the coins in their tubes or capsules and don’t clean them: cleaning adds nothing and can scratch the surface.

When you sell for more than you paid, the IRS taxes the gain as a gain on a collectible. For coins held more than a year, the rate can be as high as 28%, above the 20% top rate on most long-term gains. Gains on coins held a year or less are taxed as ordinary income. Keep your receipts, because you’ll need your cost to work out the gain.

Checking that an Eagle is real

Counterfeit Eagles exist, and a price below the value of the gold is the classic warning sign. The simplest protection is to buy from an established dealer. If you’re buying anywhere else:

• Weigh the coin on an accurate scale and measure its diameter. The table above has the correct figures.
• Gold isn’t magnetic. A coin that sticks to a magnet is fake, although passing that test doesn’t prove it’s real.
• Ask a dealer to test it. Many use electronic testers or X-ray fluorescence analyzers that check the metal without damaging the coin.

There are more warning signs in red flags when buying gold.

Frequently asked questions