American gold eagle coins are one of the most popular gold coins because in US those coins are completely private and non-reportable to IRS (Internal Revenue Service). Besides that, they are also eligible for Individual Retirement Accounts in US. American Gold Eagle coins are very strictly defined by US government for pure 24 carat gold weight and coin content. There are four types of American gold eagle coins: 1/10 ounce, 1/4 ounce, 1/2 ounce and one ounce. These types define pure gold weight in coins, but actual coins are a bit heavier then that because small amounts of silver and copper are added for better durability of the coin. Because of this added impurities American gold eagle coins are actually 22 carat gold – pure gold is 24 carat.
Face values of 1/10 ounce coin is $5, 1/4 ounce coin $10, 1/2 ounce $25 and one ounce coin 50$. Face values and actual values of the American gold eagle coins are not the same. Actual value of the coin varies as the price of gold varies. At the beginning of September 2008 one ounce of gold was around $800, but American gold eagle coin prices are always few percent higher than actual gold value they contain.
As is often the case with bullion coins, the face values of these coins are mostly symbolic and do not reflect their true value. However, in a setback for the IRS, a Las Vegas jury refused to convict nine defendants on any of the 116 charges brought against them valuing Gold eagles with their legal tender value for tax purposes. The jury hung because it could not decide if the defendants were aware that they had to declare the market value of the coins, not their face value.
American gold eagle coin - Obverse: Liberty (Goddesses named for and representing the concept Liberty).
American gold eagle coin - Reverse: Eagle soaring above his nest.
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