American Gold Eagle Coins

Specification, as legislated

All four fractions are defined in statute rather than left to the mint. The figures below are the statutory ones.

Why it qualifies for a US retirement account despite being 22 carat

This is the detail most often misreported. Section 408(m)(3) of the Internal Revenue Code excludes certain coins from the definition of a collectible. Subparagraph (A)(i) does it by naming the gold coins described in 31 U.S.C. 5112(a)(7) to (10) — which is precisely the four American Eagle fractions. The exception is by name, not by purity.

Subparagraph (B) is the fineness route, and it is the one that covers 999.9 coins such as the Maple Leaf. A 916.7 coin does not clear it. The Eagle is eligible because Congress listed it, and the Krugerrand, which shares its fineness, is not.

One consequence worth stating plainly: the United States Mint is not on the LBMA Good Delivery list. That list accredits refineries producing bars — some of which, such as The Perth Mint and the Royal Canadian Mint, also strike coins — and no coin of any origin is a Good Delivery product.

Two reverse designs

The obverse has been Augustus Saint-Gaudens' Liberty, taken from the 1907 twenty dollar piece, since the series began in 1986. The reverse changed once: the family of eagles by Miley Busiek Frost, sculpted by Sherl Joseph Winter, ran from 1986 to 2021; from 2021 it is a close portrait of an eagle's head by Jennie Norris, sculpted by Renata Gordon.

Coins are commonly described as Type 1 and Type 2 for those two reverses. Both hold the same ounce of gold.

What is in this category

One-ounce Eagles and fractions across both reverse types. Prices follow gold plus premium — see the gold price page.

Questions buyers ask

Is the American Gold Eagle pure gold?

No. It is 22 carat, 916.7 fine, alloyed with silver and copper. A one-ounce Eagle weighs 33.931 g and holds one troy ounce of gold.

Why is a 22 carat coin allowed in an IRA?

Because the statute names it. Section 408(m)(3)(A)(i) of the Internal Revenue Code excludes the gold coins described in 31 U.S.C. 5112(a)(7) to (10) — the four Eagle fractions — from the collectibles rule. The exception does not depend on fineness.

What is the difference between Type 1 and Type 2?

The reverse. Type 1, from 1986 to 2021, shows a family of eagles by Miley Busiek Frost. Type 2, from 2021, shows an eagle's head by Jennie Norris. The obverse and the gold content are unchanged.

Is the US Mint LBMA accredited?

No. The LBMA Good Delivery list accredits refineries that produce bars, and no coin is a Good Delivery product. Some mints that strike coins do hold the accreditation for their refinery — The Perth Mint and the Royal Canadian Mint among them — but the United States Mint does not.

Is an Eagle exempt from UK capital gains tax?

No. HMRC exempts sterling coins — post-1837 Sovereigns and Britannias — under TCGA 1992 section 21(1)(b). The Eagle is a US fifty dollar coin and stays chargeable for UK taxpayers. This is the published legal position, not tax advice.

Do you buy Eagles back?

Yes, against the current gold price for one troy ounce — the 2.83 g of alloy above that adds weight but no value. See the buyback page.

Other gold coin series

Sovereign · Krugerrand · Britannia · Maple Leaf · Vienna Philharmonic · Australian Kangaroo · Chinese Panda · 1 oz gold coins · historic coins

All series are listed together on the gold coins page. For the same metal without a face value, see gold bars.