Buying US Mint Gold Coins – Dealer Versus Direct
The US Mint sells gold bullion coins wholesale only to recognized retail dealers and companies. Members of the public can then purchase their investment bullion coins from these private retail companies. However, numismatic (collectible) gold coins such as proofs, commemoratives, and uncirculated coins can be purchased directly from the US Mint, normally without quantity limits.
Current US Mint gold coins for sale include the American Eagle, the American Buffalo, and the First Spouse proof or uncirculated gold coins. Unlike ordinary investment-grade bullion coins, gold proof and uncirculated coins include a “mint mark” that specifies the exact facility where such coins were pressed. A “W” mark, for example, stands for the West Point Mint facility in New York. Various commemorative gold coins (such as the Star-Spangled Banner Gold Coins) are also available directly from the US Mint.
This article focuses on the three most popular collectible gold coins from the US Mint; namely, the American Eagle Gold Coins, the American Buffalo Gold Coin, and the First Spouses Gold Coins.
American Eagle Gold Coins
American Eagles comprise a series of four coins of varying sizes and gold contents. All American Eagle Gold Coins feature an obverse face design that is based on the 1907 obverse face design of the Double Eagle gold coin that was created by the renowned sculptor Augustus Saint-Gaudens. These coins have a purity of 22 karats or 91.67% gold content by weight (or .9167 fineness). Copper and silver make up the rest of the coins. This type of gold alloy is generally more durable than other similar gold-silver-copper alloys that contain more gold. The American Eagle Gold Coins were first issued in 1986. The American Gold Eagle specie issued from 1986 to 1991 featured year of issue marks in Roman numerals.
Sizes Of American Eagles
The AMERICAN EAGLE 1 oz Gold Proof Coin has a current US Mint price of $1,935.00. It has a gold content of 1.000 troy oz (31.1 g), a gross weight of 1.0909 troy oz (33.931 g), a diameter of 1.287 inches (32.70 mm), a thickness of 0.111 inch (2.83 mm), and a face value of $50.
The AMERICAN EAGLE ½ oz Proof Gold coin has a current price of $981.00. It has a gold content of 0.500 troy ounce (15.5517 g), a gross weight of 0.5455 troy ounce (16.966 g), a diameter of 1.063 inches (27.00 mm), a thickness of 0.085 inch (2.16 mm), and a face value of $25.
The AMERICAN EAGLE ¼ oz Proof Gold coin has a current price of $503.00. It has a gold content of 0.250 troy ounce (7.7759 g), a gross weight of 0.2727 troy ounce (8.483 g), a diameter of 0.866 inch (22.00 mm), a thickness of 0.070 inch (1.79 mm), and a face value of $10.
The AMERICAN EAGLE 1/10 oz Proof Gold coin has a current price of $215.50. It has a gold content of 0.1000 troy ounce (3.1103 g), a gross weight: of 0.1091 troy ounce (3.393 g), a diameter of 0.650 inch (16.50 mm), a thickness of 0.050 inch (1.27 mm), and a face value of $5.
American Buffalo Gold Coins
The AMERICAN BUFFALO 1 oz Proof Gold Coin has a price of $1,960.00. It has a gold purity of 24 karats (99.99% or .9999 fineness), a gold content of 1.000 troy ounce (31.1035 g), a gross weight of 1.0001 troy ounces (31.108 g), a diameter of 1.287 inches (32.70 mm), a thickness of 0.116 inch (2.95 mm), and a face value of $50. There is only one type (or size) of American Buffalo Gold Coin. It differs from the one-ounce American Eagle Gold Coin primarily by design, gross weight, and percent purity (99.99% vs 91.67% for the American Eagle coins). Both these coins contain exactly one troy ounce of gold.
First Spouse Gold Coins
First Spouse Gold Coins
The First Spouse Gold Coins were first issued in 2007 in remembrance of the respective first ladies of each successive administration. They have a gold purity of 24 karats (99.99% or .9999 fineness), a gold content of 0.5000 troy ounce (15.554 g), a diameter of 1.043 inches (26.49 mm), a thickness of 0.074 inch (1.88 mm), and a face value of $10. The FIRST SPOUSE Gold Proof Coins each has a price of $1,004.00, while each FIRST SPOUSE Gold Uncirculated Coin costs $991.00.
Buying Gold Coins Directly From The US Mint
The procedure for buying gold coins from the US Mint is simple and straightforward. On the catalog page of the US Mint website (https://catalog.usmint.gov), information on how to buy gold coins from the US Mint is available on the Services section of this page. Through the Services section, the prospective buyer can look up on the availability of each type of coin by accessing the “Upcoming Products” and the “What’s New” sub-sections.
An extensive product index and a list of discontinued products, as well as a search function that lists products according to their respective prices, are also available. Although creating a customer account is not necessary in order to buy gold coins from the US mint, having an account facilitates a purchase and provides additional benefits.
The “New Users” sub-section contains the link for creating a customer account. Information on tracking orders, the return policy, order processing and fulfillment procedures, and customer-service contact numbers and mailing address can be found on the “Customer Service” sub-section.
Other pages provide detailed information on shipping rates and options, product purchase subscriptions, US Mint gift certificates, and so on. A dedicated FAQ section lists answers to specific questions that are most frequently asked by customers. The US Mint can be reached at 1-800-USA-Mint (872-6468).