A Gold question :)
I don’t understand Gold at all. Hopeing someone can help me please.
If i have 5 1/10 99.99 gold coins and 5 1/25 99.99 gold coins – how much weight do i actually have in gold.
Thanks
[quote=Gifts]
I don’t understand Gold at all. Hopeing someone can help me please.
If i have 5 1/10 99.99 gold coins and 5 1/25 99.99 gold coins – how much weight do i actually have in gold.
Thanks
[/quote]
I’d say you had 7/10 of an ounce of gold.
Coop
Thanks coop
When you wrote 1/25 did you mean one fourth of an ounce (1/4 or .25) or did you literally mean 1/25 or 4% of an ounce? 1/25 size coins would be very very smalll, quite a bit smaller than your 1/10 ounce coins.
It may be easier to think of it this way. The quoted size of the coin (i.e. 1/10th oz. or 1/4 oz) refers to the amount of .9999 gold in the coin, not the weight of the coin itself. You just add up the weights and that’s how much gold you have. You don’t need to do any fancy multiplications.
In this case (assuming you meant 1/4 oz not .25 oz) 5 x 1/10 plus 5 x 1/4 = 1/2 + 1 1/4 = 1 3/4 oz of gold or 1.75 oz in decimal form.
Jim

Mon, Dec 29, 2008  03:56pm
#6Chris Martenson
Status Platinum Member (Offline)
Joined: Jun 07 2007
Posts: 4502
count placeholderRe: A Gold question :)
[quote=wdstk46]
It may be easier to think of it this way. The quoted size of the coin (i.e. 1/10th oz. or 1/4 oz) refers to the amount of .9999 gold in the coin, not the weight of the coin itself. You just add up the weights and that’s how much gold you have. You don’t need to do any fancy multiplications.
In this case (assuming you meant 1/4 oz not .25 oz) 5 x 1/10 plus 5 x 1/4 = 1/2 + 1 1/4 = 1 3/4 oz of gold or 1.75 oz in decimal form.
Jim
[/quote]
Good clarification. It is also important to remember that gold is not measured or sold or quoted in "regular" ounces, but Troy ounces.
A troy ounce equals 1.09714 regular ounces, or roughly 10% more.
From the standpoint of pounds, there are 16 regular ounces in a pound but only 14.58 Troy ounces.
I only raise this in case anyone slaps their coins onto a kitchen scale or has the opportunity to buy gold in normal units of weight (such as grams, kilos, regular ounces, or pounds) or scrap form (in which case be sure to understand the carat system). If you do, be sure to convert to Troy when assessing value.
Thanks folks
This is what it said in the email –
1/25oz Gold Proof Koala
1/10oz Gold Proof Koala
Mind you – the 1/10 cost more them the 1/25 so id assume the 1/25 was less weight.
Lot of moeny then for such a small amount of gold.
Hi Gifts,
Well, what do you know. It IS a 1/25 oz coin! That is one small coin! In that case, the calculation changes to:
5 x 1/10oz + 5 x 1/25oz = .5oz + .2oz =.7oz
Not as impressive as earlier but it is .9999 gold and ya gotta love it
Jim
that little itty bit of gold cost me 1800 lol from the perth mint – wow i better love it lol
anyone know how do i buy a bullion of gold
they must have been numismatic coins no? the value of those is in the historic value not the gold content
Ive bought bullion at bullionvault.com – good unless the whole shouse goes up in flames
Mon, Dec 29, 2008  03:22am
#1A Gold question :)