Gold Bond Act of 1987

[AI summary unavailable — showing source text] Gold Bond Act of 1987 - Directs the Secretary of the Treasury to issue Government obligations that: (1) total $100,000,000,000 or 250,000,000 ounces of gold, whichever is greater; (2) have an annual investment yield not exceeding 1.75 percent; (3) mature at the later of 40 years after issuance or October 1, 2027; (4) have principal and interest redeemable at maturity in one ounce gold (Eagle) coins; (5) shall be known as "Eagle bonds"; and (6) the enforcement of which, as to payment of both principal and interest in Eagle coins, is perpetually immune from any assertion of sovereign immunity from suit by the United States or any claimed privilege of the United States to refuse to pay out or deliver Eagle coins or gold in any form. Requires the Secretary to issue gold certificates: (1) that have values of one ounce, one-half ounce, and one-tenth of an ounce gold (Eagle) coins; (2) that are redeemable at face value on demand, (3) that shall be known as "Eagle certificates"; and (4) the enforcement of which, as to redeemability at face value on demand, shall be perpetually immune from any assertion of sovereign immunity from suit by the United States, any claimed privilege of the Unite…