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A Gold question :)

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  • Mon, Dec 29, 2008 - 03:22am

    #1
    Gifts

    Gifts

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    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

  • Mon, Dec 29, 2008 - 04:49am

    #2

    ckessel

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    Re: A Gold question :)

[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

  • Mon, Dec 29, 2008 - 05:21am

    #3
    Gifts

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    Re: A Gold question :)

Thanks coop

  • Mon, Dec 29, 2008 - 12:01pm

    #4

    Septimus

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    Re: A Gold question :)

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.

  • Mon, Dec 29, 2008 - 02:56pm

    #5
    wdstk46

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    Re: A Gold question :)

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

    #6

    Chris Martenson

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    Re: 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.

 

  • Tue, Dec 30, 2008 - 10:22am

    #7
    Gifts

    Gifts

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    Re: A Gold question :)

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.

  • Tue, Dec 30, 2008 - 03:49pm

    #8
    wdstk46

    wdstk46

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    Re: A Gold question :)

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 Smile 

Jim 

  • Wed, Dec 31, 2008 - 07:32am

    #9
    Gifts

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    Re: A Gold question :)

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

  • Wed, Dec 31, 2008 - 10:06am

    #10
    barrt

    barrt

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    Re: A Gold question :)

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 s-house goes up in flames

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