American Gold Eagle Coins come in different sizes depending on the gold content:
The American Gold Eagle is the official gold bullion coin of the United States Mint. Authorized under the Gold Bullion Coin Act of 1985, it was first released in 1986.
The one-ounce Eagle coin has a $50 nominal face value, is 91.67% fine gold, and weighs 1.0909 troy ounces. The most popular size bullion coin, it is issued 20 coins per Treasury tube. Its diameter is 32.7 mm, thickness 2.87 mm. It Contains one Troy Ounce (31.1 grams) of Pure Gold. A regular Ounce is 28 Grams. All Bullion is measured in Troy Ounces. The rest is silver and copper. This is why the coin is 1.0909 Troy Ounces in Weight.
The above illustrates the front and back, as well as the different sizes and denominations of the American Gold Eagle. The One Ounce has a nominal face value of $50 but is worth the value of its gold content. The same holds true for the $25 nominal face value on the half ounce gold eagle, the $10 quarter ounce gold eagle and the $5 tenth ounce gold eagle.
Historic Values of Gold Currency: In 1913, a one ounce gold coin purchased $2,000 worth of goods in today’s dollars. A half ounce Gold coin purchased $1,000 worth of goods in today’s dollars. A quarter ounce was worth $500 in today’s goods and a tenth ounce was equivalent to $200 in today’s goods.
With that in mind, the 1/10th ounce was more practical for common exchange than the larger gold coins. These would have been used for larger, and less frequent transactions. (Copyright 2018-Paul A Drockton M.A.)
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