The Story of the U.S. Mint: America's Mint and the American Eagle Coin
Behind the silver American Eagle coin, which GOLDU offers as a popular entry point into investment silver, stands the oldest and best-known mint in the United States – the U.S. Mint. In this article we look at how it was founded, where it actually strikes its bullion coins today, and how that connects to the American Eagle programme.
1792: founding the mint of a young nation
The United States Mint was established on 2 April 1792 under the Coinage Act, signed by President George Washington. The first mint building in Philadelphia was the very first building constructed by the US federal government under the new Constitution – a clear sign of how central its own coinage was to the young nation's credibility.
Four facilities under the Treasury
Today the U.S. Mint operates as a bureau of the U.S. Department of the Treasury and runs four minting facilities: Philadelphia (its original home), Denver, San Francisco, and West Point. Besides regular circulating coins, it also produces commemorative issues and bullion investment coins sold around the world.
West Point: the "Fortress of Silver" that strikes the American Eagle
The West Point facility in New York began in 1937 as a tightly guarded precious metals depository, nicknamed "the Fort Knox of silver." It didn't start striking coins until 1974, and only officially became a full U.S. Mint facility in 1988. It's here that the American Eagle bullion coins – gold, silver, and platinum – are struck to this day.
How the American Eagle coin came to be
The U.S. Mint launched the American Eagle programme in 1986 under the Liberty Coin Act, to offer its own bullion coin comparable to foreign competitors such as the South African Krugerrand. The silver version reused the Walking Liberty design from the historic half-dollar coin by Adolph A. Weinman, minted from 1916 to 1947. The full history of the coin's design, fineness, and specifications is covered in the article American Eagle: Silver Investment Coin from the U.S. Mint.
American Eagle at GOLDU
At GOLDU you'll find the 1 oz American Eagle silver coin, one of the most widely traded silver investment coins in the world alongside the Maple Leaf and the Krugerrand. Other mints have similarly rich histories, covered in the articles The Story of The Royal Mint and The Story of The Perth Mint. GOLDU doesn't currently offer the gold version of the American Eagle, but a wide range of investment gold from other renowned mints is available in the main category.
Other major world investment coins
The American Eagle is far from the only globally recognised investment coin – here's a quick overview of other leading mints and their flagship coins:
| Coin | Mint | Country | First minted |
|---|---|---|---|
| American Eagle | U.S. Mint | USA | 1986 |
| Maple Leaf | Royal Canadian Mint | Canada | 1979 |
| Krugerrand | Rand Refinery / South African Mint | South Africa | 1967 |
| Wiener Philharmoniker | Austrian Mint (Münze Österreich) | Austria | 1989 |
| Britannia | The Royal Mint | United Kingdom | 1987 |
| Australian Kangaroo | The Perth Mint | Australia | 1987 |
Frequently Asked Questions
Where is the American Eagle coin actually struck?
At the West Point facility in New York State, which officially became a full U.S. Mint facility in 1988.
Is the U.S. Mint a government or private institution?
It's a government agency – a bureau of the U.S. Department of the Treasury.
Since when has the American Eagle coin been struck?
The U.S. Mint launched the American Eagle programme in 1986 under the Liberty Coin Act.
Disclaimer
This article is for informational purposes only and does not constitute investment advice. More in the document Risk disclosure and nature of information provided.
