Gold for sale near spot

jwitten

1976 Bi-Centenary of Cook's 3rd voyage gold medal. Arms granted to Cook after his death combined with an anchor, rev ¾ facing bust of Cook with HM ships Discovery & Resolution in background. 9ct gold, 30.7g 42mm. Designed by James Berry & issued by Eastern & Central Savings Bank. Asking $580 obo paid fee free payment. Thanks!

1913 $5 Indian (SOLD)

Relaxn

J
I do not understand your gold calculation? If the medal weighs 30.7 grams and is 9 carats.
That would equal .375 (9/24) *1530 = $573.75 per Troy oz or 31.1 grams.
If the medal weighs 30.7 that is below one Troy oz so how are you getting to spot being $615? My calculations have the AGW to be about $566.37

I am sure I am making a dumb math mistake but just wanted to ask? Maybe I should PM this but figure someone else can point out my mistake.

Thank you

Kliao

For me I calculated at 1500. So

1500.375(9k gold) is 562.5
562.5/31.1 is 18.08
18.0830.7 is $555.05 scrap

@Relaxn I do believe your doing the math right because I got aprox the same

MattTheRiley

From the scrap gold calculator at the silver recyclers website.

Kliao

@MattTheRiley thanks so that confirms that both @Relaxn and I did our math right.

jwitten

Wow, my bad guys. I did a gram to ounce calculator via google. Is there a different way to convert grams to ounces??

jwitten

This is where I got my number. I've been using wrong conversions for years apparently. Yikes.

Relaxn

Metals are measured in Troy oz.
There are 31.1 grams in a Troy oz.
As far as you did not know that... You have been buying and selling metals for awhile on this board & in a coin shop in Kentucky and did not know the difference between a Troy oz (31.1 grams) and a Avoirdupois oz is (28.35 grams)

Tip of the cap to you.

coinlieutenant

Play nice gents. Mistakes happen.

jwitten

Melt is up to $568 today, and I'm dropping my price to $580!