The story of American gold had its roots in the discovery of the precious metal at Sutter’s Mill on January 24, 1848. Though John Sutter’s partner, James W. Marshall tried to keep it a secret after he found shining flecks of gold near the sawmill they were building—SURPRISE!—word got out and in a very short time hundreds of thousands of people migrated west fueled by the promise of wealth beyond their wildest dreams.
Decades later, it was President Ronald Reagan who elevated gold in the American consciousness when he signed the Gold Bullion Coin Act into law in 1985, effectively putting gold within reach of U.S. citizens by mandating the minting of Gold American Eagle coins beginning in 1986. Gold Eagles quickly soared in popularity, appealing to not only investors, but to coin collectors too, thanks to the coin’s iconic design.
Since their introduction 37 years ago, American Gold Eagles have remained one of the most popular coins in the U.S. and throughout the entire world. Reason #1 for that popularity is that, by law, they are minted from gold found in the U.S. The Gold Eagle is an American coin, mined and minted in the U.S., from American gold. The legislation also stipulated Gold Eagles would be minted in four different weights (one-ounce, half-ounce, quarter-ounce and tenth-ounce, $50, $25, $10 and $5 denominations respectively) and would include two different versions, bullion and proof. The bullion program was immediately available with all four weights, while proofs weren’t available in all four weights until 1988
The second reason the coin is so popular is its beautiful, intricate, uniquely American design, which combines both the old and the new. The obverse of the coin features a modified version of American sculptor Augustus Saint-Gaudens’ classic Lady Liberty design for the $20 Double Eagle gold piece which was originally commissioned by President Theodore Roosevelt and minted from 1907 to 1933. It is considered to be one of the most striking American coin designs of all time. For the first 35 years, the reverse of the Gold Eagle was Miley Frost’s depiction of a family of bald eagles.
Halfway through 2021, in honor of the coin’s 35th anniversary, the Gold Eagle received a new reverse design depicting a close-cropped profile of a bald eagle with a strong, curved beak, thick plumage, and an intense gaze, created by Artistic Infusion Artist Jennie Norris. Ms. Norris is an award-winning artist who drew inspiration for the design from her deep connections to nature and wildlife.
In a nutshell, collectors want proofs because they are the best of the best quality, and they have a higher degree of scarcity than non-proof coins. You see, proofs are struck to a much greater standard of beauty, quality, and craftsmanship. They’re minted using special proof planchets (blanks) that have been treated, hand-polished, and cleaned to ensure high-quality strikes, then fed into presses fitted with polished dies and struck at least twice, unlike regular coins which are struck only once, to give them a glamorous shine, and make the intricate, razor-sharp details of the design pop against polished, mirror-like fields. While regular coins are struck on high-speed presses by the thousands, proofs are individually struck by highly-skilled artisans who are focused on creating numismatic masterpieces—and therefore proof mintages are typically only a fraction as large as bullion coins.
Even within the population of proofs, there are levels of quality. With proofs and coins, quality is measured by grades on a 70-point scale, with a grade of 70 representing absolute perfection, even under magnification. That’s what you have here, the best of the best, certified by NGC as having a flawless Proof-70 (PF70) grade. Not only that, NGC also certified these proofs as Ultra Cameo (UC), a designation given to coins that possess an intense frosted finish on both sides, with highly polished fields accenting the raised elements.
These Proofs are not only certified as flawless and Ultra Cameo, but even better, they’ve also qualified for the sought-after designation of First Day of Issue (FDI)—which means the coins were purchased and submitted for grading the very first day they were released from the U.S. Mint. Coins with FDI designations are in demand because they are considered fresh, well-struck coins and because that designation narrows the population even more.
Perfect, with a First Day of Issue designation. Can it get any better? Yes, it can. Each of these Proofs comes sealed in a protective display holder that features the hand-signed signature of one of three people who have been highly instrumental in the American Eagle story—including Jennie Norris, the artist who designed the new “Eagle Portrait” Gold Eagle reverse; David J. Ryder, the former 34th and 39th Director of the U.S. Mint who oversaw the release of several years of American Eagle Coins and was instrumental in the transition from the Type 1 reverse design to the Type 2 reverse design; and John Mercanti, retired 12th Chief Engraver of the U.S. Mint who designed the reverse of the original American Silver Eagle, and who has produced more coin and medal designs than any employee in U.S. Mint history.
To start with, mintages for these 2022 Gold Eagle Proofs are insanely small: 22,500 one ounce, 16,000 half-ounce, 19,000 quarter-ounce and 31,000 tenth-ounce Gold Eagles. The past couple of releases for the Gold Eagle Proofs have sold out at the U.S. Mint.
If you compare the mintages of the third year of the original design Gold Eagles (1988) design to these third-year new design Gold Eagles (2023), you’ll find the 2023 mintages are significantly decreased! The mintage for this year’s one-ounce size is 74.2% smaller (87,133 to 22,500) than in 1988; the mintage for the half-ounce size is 65.3% smaller (44,798 to 16.000); the mintage for the quarter-ounce size is 69.7% smaller (62,674 to 19,000); and the mintage for the tenth-ounce size is 68.8% smaller (99,349 to 31,000).
The point is—don’t wait to order if you want to see these gorgeous Gold Eagles in your collection! Take a look
Don’t miss out on this 2023 Gold Rush. Your Gold Eagles will arrive in flawless condition, with a First Day of Issue designation, and a hand-signed signature label. These are not only the best of the best, they’re the first of the best. Inquire with your Scarce & Unique Account Executive for more details and availability. Don’t wait.