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92% Gold content on AGE. 99.9 Buffs--Do people...

percybpercyb Posts: 3,324 ✭✭✭✭
in Precious Metals
The American gold eagles are roughly 92% gold.--1 cost $1985
This is worth $1578 plus a bit for 3% silver...lets call it $1585... That's roughly $400 vig/premium

Do people realize the AGE is only 92% gold?

The Buffalo gold coins are 99.9% gold. 1 cost $2010
The Buff is work $1715 so that's roughly $300 in vig.
The spot price $1715 and oz.
"Poets are the unacknowledged legislators of the world." PBShelley

Comments

  • nibannynibanny Posts: 2,761 ✭
    I think the gold content is near to one ounce.
    92% is the finess, the actual weight should be over 31.103 grams.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    AGW is the same for both coins. 1 troy oz.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭


    << <i>The American gold eagles are roughly 92% gold.--1 cost $1985
    This is worth $1578 plus a bit for 3% silver...lets call it $1585... That's roughly $400 vig/premium

    Do people realize the AGE is only 92% gold?

    The Buffalo gold coins are 99.9% gold. 1 cost $2010
    The Buff is work $1715 so that's roughly $300 in vig.
    The spot price $1715 and oz. >>



    Do people realize the AGE is only 92% gold?

    Do YOU realize the AGE contains one full troy ounce of pure gold, and the alloy weight is extra? From your math, it doesn't sound like you do.

    The .9167 is 22K and is a traditional coin standard alloy. the extra metal (mostly copper, perhaps a bit of silver) is a bonus, that and the coin being legal tender and looking the way it does accounts for its premium value to melt.

    The buffalo being .999, and looking the way it does, adds its own collector premium. In your examples ($1985 vs. $2010) they're actually pretty close.

    Liberty: Parent of Science & Industry

  • percybpercyb Posts: 3,324 ✭✭✭✭


    << <i>

    << <i>The American gold eagles are roughly 92% gold.--1 cost $1985
    This is worth $1578 plus a bit for 3% silver...lets call it $1585... That's roughly $400 vig/premium

    Do people realize the AGE is only 92% gold?

    The Buffalo gold coins are 99.9% gold. 1 cost $2010
    The Buff is work $1715 so that's roughly $300 in vig.
    The spot price $1715 and oz. >>



    Do people realize the AGE is only 92% gold?

    Do YOU realize the AGE contains one full troy ounce of pure gold, and the alloy weight is extra? From your math, it doesn't sound like you do.

    >>



    Thanks for the education everyone. I did not realize the weight is still one oz of pure gold. I was thinking it was 92% of an oz.
    "Poets are the unacknowledged legislators of the world." PBShelley
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    It's all about the AGW. Or at least it used to be. It's my understanding (perhaps painting with a broad brush) that Asians DO NOT like alloyed metals, regardless of what the actual gold weight is. Asians are driving the current market to a large degree. I suspect their purchasing power and habits helped in part to make the buffalos .999 pure.

    For what it's worth, Krugerrands, once thought to be the end all be all of portable gold, are only 91.67% pure gold with the balance made up of copper for its durability. The coins themselves weigh more than an ounce (1.09 ounces) to account for the copper.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
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  • derrybderryb Posts: 36,788 ✭✭✭✭✭
    alloy added to one full ounce of 24k gold to make the AGE metal harder and over one ounce in total weight. 24k gold (buffalo) is a soft metal. Both have the same amount of pure gold (1 oz.), just overall weight and fineness difference. While only 22k finished gold overall, the AGE contains the amount of pure gold annotated on its reverse.

    Unlike AGEs, note that earlier (pre 1934) gold does not contain one full oz, one-half oz, or one-quarter oz. of gold:

    Pre-1934 US gold coin gold value

    World gold bullion coin specifications

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭
    Pre-1934 U.S. gold coins contained full weight in gold, based on the official gold value at the time of $20.67 per ounce. This value was fixed in 1837 and was maintained until all gold coins were withdrawn from circulation.

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  • nibannynibanny Posts: 2,761 ✭
    On a side note, when I started collecting, I found very interesting the difference in color of the various bullion coins.
    In particular, my first coins, AGE, Krug and Maple.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • derrybderryb Posts: 36,788 ✭✭✭✭✭
    pre 34 gold eagles are .9 fineness with the $20 gold piece containing .9675 oz. of gold.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>For what it's worth, Krugerrands, once thought to be the end all be all of portable gold, are only 91.67% pure gold with the balance made up of copper for its durability. The coins themselves weigh more than an ounce (1.09 ounces) to account for the copper. >>



    The ASE's were designed to have the same specs as the K-Rand since they were intended to compete with them at the time they were first issued.

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