United States | $5 American Gold Eagles | MS
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Updated:
2/21/2026
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American Gold Eagle Coins were authorized for production by the United States Congress with passage of the Gold Bullion Coin Act of 1985. Under the terms of legislation, the program was to contain four different weights in total (1 oz, ½ oz, ¼ oz, 1/10 oz) and include two different versions initially (bullion and proof). Congress set the face value for the coins as is standard practice with any legal tender issued by the United States Mint.
The first American Gold Eagle coins were produced and made available for purchase in 1986. The bullion gold coin program was immediately available with all four weights, while the proof version of the coin featured only a 1 oz coin in 1986. The proof program expanded to include the ½ oz weight in 1987, and the ¼ oz and 1/10 oz coins in 1988.
For the 20th anniversary of the American Eagle coin series, which includes the Silver Eagle, in 2006, the United States Mint introduced a new burnished version of the coin. The Burnished American Gold Eagle was introduced specifically for coin collectors. Although the United States Mint already had the proof version of the Gold Eagle available for collectors, the burnished version of the coin had a unique minting process that gave it enhanced value for those numismatists interested in the display and exhibition of visually brilliant coins.
The leading product in the American Gold Eagle lineup is the bullion coin. As mentioned earlier, the bullion coin has been the most stable product in the lineup. It has been offered by the United States Mint every year, in all four weights, since its introduction in 1986. The bullion coins have followed a fairly predictable up-and-down mintage flow over the course of more than 30 years of availability.
When the bullion Gold Eagles were introduced in 1986, demand exceeded 1.3 million for the 1 oz coin alone, with the ½ oz, ¼ oz, and 1/10 oz coins hitting 599,000, 726,000, and 912,000 respectively. Demand for the coins cooled throughout the 1980s and early 1990s, before peaking again in the late 1990s and into the early 2000s. The early to mid-2000s saw another significant decline in mintage figures, until the onset of the Great Recession in 2008, when the gold eagles soared to new heights with mintage figures of 1.49 million, 110,000, 110,000, and 270,000 respectively from 1 oz down to 1/10 oz.
Mintage figures again dropped back down until 2014, with 2015 and 2016 both posting year-over-year gains in mintage. A coin in BU condition exhibits no signs of wear and tear, though you may notice minor flaws ranging from breaks in the luster and spotted surfaces to contact marks from the coining process.
It wasn’t until the 20th anniversary of the American Gold Eagle coin series in 2006 that the United States Mint expanded the program to include a special burnished coin. Aimed directly at numismatists who collect and display or exhibit their beloved American Gold Eagles, the Burnished American Gold Eagle (also referred to as an uncirculated Gold Eagle) is struck using a special coining process that is similar to the one used in the production of proof coins.
The United States Mint begins the coining process for burnished gold eagles by loading all of the blanks, known as planchets, into a spinning drum. In the past, this step in the process used wet sand as a friction agent that served as a polishing media to give the blanks a unique finish before even being struck. Today, the US Mint uses countless 6mm balls to create a smooth, matte-like finish on the surface of the blanks.
Once each blank has been sent through the spinning drum, the individual blanks are taken out one at a time by mint employees wearing white gloves. The blanks are transferred by hand, wearing gloves, to the coining press in order to avoid contaminating the finish of the blanks with oil and dirt from human skin. Each blank is then hand loaded into the coining press for striking. All blanks are struck under greater pressure than bullion coins and regular circulation currency, creating a striking finish.
Although the Burnished American Gold Eagle undergoes a similar coining process to proof coins, the appearance of these coins is often compared more closely to that of the bullion coin in the series. The polishing process the coins go through before striking, along with the higher pressure coining process, leaves each coin with a softly frosted appearance. The process also creates a more detailed appearance to the design features, such as Lady Liberty and the bald eagles on the reverse.
Each design set’s frosted finish gives it the appearance of floating above the background field of the coin, which is deeply-mirrored. The major distinguishing characteristic for the casual observer is the presence of a mint mark on the Burnished American Gold Eagle. While the bullion coins do not feature a mint mark, all burnished gold eagles have a “W” mint mark to identify the West Point Mint as the production facility.
Burnished Gold Eagles were originally available in all four weights with high demand, but following the 2009 halt in proof and burnished production, the American Gold Eagle returned with only the 1 oz coin available and mintage figures that were much lower. The most recent figure is 6,888 coins for the 2016 release of the Burnished American Gold Eagle, which is down from post-2009 highs set in 2011 and 2014.
Both the Numismatic Guaranty Corporation and the Professional Coin Grading Service issue coins a grade between 1 and 70 on the Sheldon Numeric Scale. Developed in 1948 by Dr. William Sheldon, this scale helps to identify the specific condition of individual coins in a very detailed manner.
Prior to the development of the Sheldon Scale, coins were graded on physical condition and placed into one of three categories: Good, Fine, and Uncirculated. It was quickly discovered that any two coins within the same category could feature meaningful differences in value and condition, even if they were of the same general condition. For example, some Fine coins were in better condition than other Fine coins.
Today, the NGC and PCGS use the 1 to 70 Sheldon Scale to certify the condition of all coins it grades. Each grade starts with a strike type, which includes the following options:
MS: Stands for Mint State, and identifies a coin struck in the same format as circulation issues and applies to grades 60 through 70.
The most common Certified Bullion Gold Eagle coins have the grades of MS 70 and MS 69. These grades identify coins as follows:
MS/PF 70: These coins are considered perfect specimens with no post-production imperfections when viewed under 5x magnification, and include their full, original mint luster.
MS/PF 69: These are considered near-perfect coins with nearly imperceptible imperfections. Though they maintain full, original mint luster, there are a maximum of two minor imperfections on the coin such as miniscule hairlines.
Additionally, the NGC and PCGS use a handful of other certification and designation terms for coins that help identify special visual characteristics or unique designations in production. These include the following:
Early Release: The NGC applies this designation to coins received for certification within the first 30 days of the release date set by the offering mint.
First Day: Another designation that applies to coins received for certification within one day of the release date set by the mint, and must arrive in sealed packaging at the NGC or an approved NGC depository.
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United States | $5 American Gold Eagles | MS
By Mi§ål's
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