A Gold question :)

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Gifts's picture
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

ckessel's picture
ckessel
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Re: A Gold question :)
Gifts wrote:

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

I'd say you had 7/10 of an ounce of gold.

Coop

Gifts's picture
Gifts
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Re: A Gold question :)

Thanks coop

Septimus's picture
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.

wdstk46's picture
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 

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cmartenson
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Re: A Gold question :)
wdstk46 wrote:

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 

 

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.

 

Gifts's picture
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.

wdstk46's picture
wdstk46
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Posts: 59
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 

Gifts's picture
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

barrt's picture
barrt
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Posts: 171
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

jlmiller77's picture
jlmiller77
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Re: A Gold question :)

 (5 coins) X (1/10  oz/coin) = 5/10 oz = 1/2 oz   

 and

 (5 coins) X ( 1/25  oz/coin) = 5/25 oz = 1/5 oz

 so

1/2 oz + 1/5 oz = 5/10 oz + 2/10 oz = 7/10 oz

 if you arent good with fractions , use decimal and think of it like change

1/2 = 0.50

1/4 = 0.25 

1/10 = 0.10

1/20 = 0.05

1/25 = 0.04

so for your example,

 (5 coins) X (0.10  oz/coin) = 0.50 oz

(5 coins) X ( 0.04  oz/coin) = 0.20 oz

0.50 + 0.20 = 0.70 oz

Gifts's picture
Gifts
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Posts: 18
Re: A Gold question :)

Im not sure what coins they were bart - i dont understand things like that. I just figured that if everything goes bellly up and I need a doctor for one of my kids - maybe i could pay with gold or silver.

My way of thinking is prepare for the worst and hope for the best.

I run scenarios thru my mind and then try and cover it. I have come to realise though that we can only do our best - not everything can be covered  - a few gold coins sitting around wont hurt anyone :)

Thankyou miller that maths makes it real easy/

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