The original Gold American Eagle coin dates back to 1792. Its original value was $10, but was also available as a Quarter Eagle, Half Eagle, and Double Eagle, valued respectively at $2.50, $5, and $20. Much like today, the original Gold American Eagles were minted in British standard crown gold, or 22-karat gold. The rest of the coin was made of copper and silver.
The Gold American Eagle was discontinued in 1933, as the result of a decree by Franklin D. Roosevelt aimed at preventing banks from failing during the early stages of the Great Depression. Gold coins went out of fashion during the 20th Century when the United States moved away from the Gold Standard.
In 1985, Ronald Reagan signed the Gold Bullion Coin Act into law, forever changing the precious metals market. Congress had been petitioning for the return of a gold American coin since 1981, so with the passing of the act, the Gold American Eagle was the favorite for mint production. The law allowed the Gold American Eagle coin to quickly soar in popularity for investors and collectors alike.
The Gold American Eagle coins were first produced and made available to the public in 1986. Since their introduction, the American Eagle has been the most widely traded gold coin in the United States. Another reason for its popularity is a legal provision requiring the coin to be mined from gold found in the United States, making it a truly American coin.
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