The American Gold Eagles are a prime example of how the U.S. government has responded to market needs by creating a gold coin that is both durable and recognizable. Gold Eagle coins have become an essential part of the gold bullion industry and are now one of the most popular coins among collectors and investors.
What is .9167 Fine Gold?
.9167 fine gold refers to gold that is 91.67% pure. This purity level is commonly associated with 22-karat gold, meaning that out of 24 parts, 22 are pure gold, and the remaining 2 consist of other metals, typically copper and silver.
Why Gold Eagles are .9167 Fine: Durability
These coins consist of 22 karats of gold rather than 24 karats. The American Gold Eagles had an alloy of 91.67% gold, 3% silver, and 5.33% copper with a total of 1 troy ounce of gold. This alloy combination makes the coins harder and more durable than coins made from pure 24k gold.
The U.S. Mint stated that this was done to ensure the coins would remain in circulation for a longer period, making them easier to use as a form of currency. The copper helps protect the gold coins from scratches and allows them to last much longer than other gold coins.
Benefits of .9667 Gold
.9167 gold coins, also known as 22-karat gold coins, offer several benefits to investors and collectors.
Gold IRAs
Despite being only .9167 fine, American Gold Eagles are eligible for Gold IRAs. .9167 gold eagles are highly liquid and widely recognized, making them easy to buy, sell, and trade within an IRA. This liquidity ensures that investors can access their retirement savings when needed.
Purity and Durability
.9167 gold coins contain 91.67% pure gold, making them durable and resistant to wear compared to higher purity coins.
Legal Tender Status
Many .9167 gold coins are issued as legal tender by governments, providing added assurance of their authenticity and value.
Widely Recognized
These coins are widely recognized and accepted globally, providing liquidity and ease of trade in the international market.
The Krugerrand and the American Gold Eagle
The Krugerrand saw worldwide success since its release in 1967, but the United States banned importing new ones to protest South Africa’s apartheid policies. With this popular gold coin off American markets, the U.S. Mint decided to develop gold bullion coins. They produced the American Gold Eagle in 1986, which had many of the same qualities as the Krugerrand in hopes that it would have greater appeal.
The American Gold Eagles exemplify the U.S. government’s proactive approach to meeting market demands by crafting a gold coin renowned for its durability and widespread recognition. These coins have solidified their position as a cornerstone of the gold bullion market, gaining immense popularity among collectors and investors.
