The United States Mint has released the 2022 uncirculated American Eagle One Ounce Gold Coin and its $2,670.00 price tag may have some issues for certain collectors. True gold bugs may buy gold coins solely for the value of gold. True numismatists may collect gold coins for the story, history and scarcity. Whatever your opinion is on that matter is up to you, but Collectors Dashboard wanted to see what it is that coin collectors are actually getting for their $2,670.00 investment. For starters, it’s not actually an ounce of gold when you look at the coin’s composition.

For starters, the American Eagle One Ounce Gold Uncirculated Coin was redesigned in 2021 and its portrayal of an eagle was meant to be crafted in the highest degree of detail. The 9,000 mintage limit will keep the coin’s scarcity alive, but what’s actually in the one-ounce coin?

The West Point Mint used an anti-counterfeit reeded edge and the coin was based on the original bronze cast. The Mint noted that legacy details were restored for the obverse design, which included modifications to the Capitol Building, as well as the stars, torch, sun rays and other design elements. This coin is actually a 22-karat gold coin. Its composition is broken down:

• 91.67% gold,
• 3% silver,
• and the balance is copper.

At the time this was printed, the quote for an ounce of gold was roughly $1,827.00 per ounce. That means that most gold coins that gold bugs want to own for the gold exposure (Maple Leaf, Krugerrand, etc.) will be paying $1,902 to $1,952 depending upon where they buy their gold coin from. Image below from the United States Mint.

The coin was released on June 16, 2022 and was given a one-per-household limit for the first 24 hours. After 10 days, an unknown number of coins remain of the original 9,000 minted but buyers could still load these into the Mint’s shopping cart.

Each gold coin buyer has a different reason for buying a gold coin. This one comes at a significant premium for the price of gold but it doesn’t come close to breaking the bank for gold coin collectors who chase scarcity.