Last week, the United States Mint released a collectable version of the 2014 American Eagle Gold Coin: the American Eagle One Ounce Gold Uncirculated Coin. The American Eagle Gold Bullion Coin is sought after by millions and is IRS-approved to be held in a gold or silver IRA. The U.S. Mint has struck over 13 million of them since they were introduced onto the market in 1986 and sales continue to rise higher and higher each year. American Eagles have a rich history in design, collectibility, and value. Here is a look at the minting process for this beautiful and highly desired coin.
The Early Production Process
First, in a process that takes about 36 hours total, an artist created a negative design 10 ½” in diameter from the design intended for the coin. They then created a positive of that image, which they carved and added to by hand. A negative mold was cast again, and then a hard epoxy (strong protective surface) was cast that allows the sharpest details to be transferred. This epoxy version was then placed on a reducing machine called a pantograph which makes an exact copy of the design only it’s reduced to 1 ½” in diameter. This was called the master hub, and it was then heated to make it harder. This master hub was used to create a die, a concave version of the image. A hub, as in master hub, is a raised image. Think of them as stamps.
An engraving machine then added the date and lettering to the design. This was reduced again to the final size of the coin, made of high-grade steel. This was called the punch, and it was what got inserted into the coin press. Several different versions of the design were pressed until one was approved for production.
Current Production Process
American mined gold and gold scraps from previous Gold Eagles are put into a casting furnace heated to 2,100° F. The melted gold is then formed into a solid long bar that is cut into segments 30” long. These bars are then put into a machine that uses over nine tons of pressure to flatten them. They are passed through this machine 12 times until the bars are only ½” thick. They are now called fillets.
A finishing mill then flattens the fillets even more until they reach their final thickness of either 3/100” or 2/10” depending on the denomination. These blank coins then go into a rimming machine that creates the raised rim. They are then cleaned in a tub filled with water, a cleaning solution, and steel beads, which also smoothes and polishes them. After 20 minutes in this tub they are sifted to separate the blank coins from the steel beads, then hand-dried.
After being heated so many times, the coins can sometimes become brittle, enough so that they could break, so they are put into a furnace that heats them to a specific temperature allowing the gold to soften and re-crystallize. The blank coins are gradually cooled after this. Finally, they are ready for the coin press. The press has a hub and a die, one for each side of the coin. Each side is pressed simultaneously, and this is done twice to assure the highest possible quality and detail.
And there you have it – the American Gold Eagle Bullion Coin has been pressed!
Add American Eagle Gold Coins to your Retirement Plan
Good news: American Eagle Gold Coins are allowed in precious metal IRAs and it’s never been easier to do. Investors can enjoy gold’s ability to limit exposure from Wall Street and act as a hedge against inflation. Once you begin taking distributions, you can either liquidate the coins for cash or pass them down to future generations. So why not secure your retirement funds in a way that can be beautiful, fun, and memorable? Call American Bullion today at 1-800-326-9598 to speak with a precious metals specialist, or request your Free Gold Guide online.
Source: American Hard Assets Magazine