If you’ve considered buying Gold American Eagle coins to add to or to begin your collection of gold coins, you’ve probably noticed that there is a difference between uncirculated coins and proof coins. While none of these coins are circulated even though they are legal tender and have face values like other coins, the proofs are even more special and valuable. Before you learn about Gold American Eagle proof coins in particular, here is a general idea of how proofs are made.
When a coin is made, it is simply a round piece of metal that is struck by dies on two sides. The front side is called the obverse and the back is called the reverse. When you create a die, it is the opposite of the image on the coin, so the highest parts on the die will become the lowest parts on the coin and vice versa. While all coins are minted in this way, proof coins are minted in a way that takes even more work and extra steps.
Before a proof coin is created, its die is treated with acid on its lowest points, which become the highest points or the main design of the new coin. When the coin is stamped, the acid causes a frosted look, and the background of the coin is polished. This results in a look that is called a cameo. On a proof coin, the design stands out against the polished background and looks even more raised than normal.
Proofs are graded in the same way as other coins, but they are more valuable, partially because of their beauty and partially because of their rarity. Not many proof coins are ever struck at one time because the coins are all struck two or three times each, elongating the process. This is what gives proofs their extraordinary level of detail.
Proofs of Gold American Eagles are handled very carefully. They are inspected individually by white-gloved officials who check for blemishes before packaging them into plastic cases and velvet boxes. Proof coins that are in mint condition can sell for quite a lot of money. Not only do you have the value of the gold that goes into making the Gold American Eagle proof coin, but you also have the coin’s value as a collector’s item. Because proofs are rare but in high demand, these coins can be worth a great deal of money.