The 1oz U.S. Mint Commemorative Arts Gold Medal is a gold bullion medallion that was produced by the United States Mint from 1980 to 1984. The series was created to compete with other bullion coins on the market, such as the South African Krugerrand.
Here are some key characteristics of the 1 oz medal:
- Weight and Purity: It contains 1 troy ounce of actual gold content and is struck in a 0.900 fine gold alloy (90% gold, 10% copper or a combination of copper and silver depending on the year).
- Design: Each year of issue (1980-1984) features a different American artist on the obverse side and a design related to their work on the reverse.
- 1980: Grant Wood (painter)
- 1981: Mark Twain (author)
- 1982: Louis Armstrong (musician)
- 1983: Robert Frost (poet)
- 1984: Helen Hayes (actress)
- Minting: The medals were produced at the West Point Bullion Depository.
- Legal Tender: The medals are not considered coins and have no face value.
- Collectibility: While primarily a bullion item, these medals have some numismatic appeal due to their limited mintage and historical significance as a precursor to the popular American Gold Eagle program. The 1984 Helen Hayes medal, in particular, had a very low mintage.
The value of these medals is primarily based on the current price of gold, but the specific year and condition can also influence their worth. They are often sold as “random year” items by bullion dealers.
