United States Gold Coins

United States gold coinage is divided into a number of denominations. Circulating gold coins have existed in the double eagle, eagle, half eagle, and quarter eagle denominations, corresponding to $20, $10, $5, and $2.50 respectively. Additionally, gold $1 coins were minted beginning in 1849 along with a $3 coin from 1854. Both of these runs were discontinued in 1889.

The various gold eagle denominations were all outlined in the Coinage Act of 1794, with an eagle worth $10 and the others deviating from there. By contrast, the gold $1 coin was never intended to exist. After two subsequent gold rushes in the southeast and in California, however, the government began to look for other ways to use the nation's gold surplus and authorized these additional coins.

Today, most American gold coins are either commemorative or bullion. The American gold eagle, unique from circulating eagles, is an official bullion coin created by a bullion act in 1985. While the eagle as a denomination is worth $10, the eagle as a bullion coin has a face value of $50. Commemorative gold coins are usually issued with a face value of $5.

Quick Facts

• The 1933 Saint-Gaudens double eagle is one of the rarest of all American coins. Nine of the original 22 were melted down. One sold for $7.59 million in 2002, the second highest price ever paid for a coin at auction
• The gold $1 coin that was minted from 1849 to 1889 was the smallest coin minted by the United States with a diameter of 12.7 mm. For comparison, modern Roosevelt dimes have a diameter of 17.91 mm
• Gold bullion American eagles are minted at West Point, which also produces gold commemorative coins but rarely produces any circulating coinage