American Gold Eagles

The latest “fad” in coin selling is Certified Eagles and Buffalos. At American Federal we know that this is usually just a way for dealers to tack on a huge profit. Many dealers sell MS-69 and MS-70 coins for as much as $3500 per coin. This is an outrageous markup!

We also offer coins graded by NGC, PCGS and ICG. If you like the security of graded coins call us first. We offer MS-69 Eagles at $125 over spot and MS-70 at $200 over spot. That’s a savings of hundreds if not thousands of dollars. Call to confirm prices and availability.  Prices on Proof Gold Eagles are more volatile so call for current pricing.  We also offer Silver Eagles.

The US Mint created the Gold Eagle in 1986 and it quickly became stiff competition for the Krugerrand and Maple Leaf. The Eagles are the most beautiful gold bullion in many people’s opinion. Since its debut, it has been the premier bullion in this country. The Eagle comes in 1/10 oz, 1/4 oz, 1/2 oz and 1 oz sizes. Often you can buy the fractional pieces for the same premium as the 1 oz. We strongly recommend buying the smaller pieces when the premiums are equal. It gives you an advantage of recovering some of your costs if the premium increases. In the past, we’ve seen premiums go over 25% on smaller Eagles!

Caution:

There are dealers who will try to convince you that fractional Eagles, especially the 1/2 oz, are rare. They mark them up as much as 100%  and tell you they are great investments. Also beware of buying these coins in certified holders. Although there are a few wild auction prices, the majority do not bring much premiums in the resale market. Even MS and PR -70 examples do not have a reliable market to sell into. You are not likely to get the coins that bring the record price. It is a fact that PCGS literally gets truck loads of these coins at their facility.  I understand they actually put in loading docks to accommodate them! Grading bullion coins is just one more way for dealers to make a big profit and you will be left holding the bag. If you don’t believe it, call a few dealers and see what they will pay for certified Eagles, or any other certified bullion coin for that matter. You will be shocked. It’s not unusual for dealers to charge two or three times the price of gold for a certified coin. Also, don’t look for dealers to tell you that you are paying a lot of money for plastic… there’s too many grading fees and commissions involved for them to be honest with you. Check the prices before you buy. I try to find reliable outlets for graded bullion coins all the time. I buy millions of dollars worth of these coins, and I can tell you, no real market exists.

Buy Eagles as Bullion Only.

Eagles are one of the best bullion coins available and rarely cost more than 10% over the gold content.  Eagles offer great advantages, including the possibility of increasing premiums (price of coin above the price of gold). They are a great buy if you pay the right price so don’t get caught by a broker charging too much. Call us and we can give you the current prices, as well as sell you the coins. Eagles have the additional advantage of not being reportable to the IRS when you sell! Contrary to what dealers tell you, they are more likely to be safe from confiscation than $20 St Gaudens or Liberty coins. They are specifically defined as “numismatic” in the legislation that created them. The Gold Bullion Coin Act of 1985 clearly states “(3) For purposes of section 5132(a)(1) of this title, all coins minted under this subsection shall be considered to be numismatic items”.   Interestingly enough, when you look up the Coin Act, you may see advertisements from some of the very dealers who are telling you these coins are NOT numismatic and ARE subject to confiscation!