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

percyb

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.

nibanny

I think the gold content is near to one ounce.
92% is the finess, the actual weight should be over 31.103 grams.

OPA

AGW is the same for both coins. 1 troy oz.

Baley

<< <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.

percyb

<< <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.

Weiss

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.

derryb

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

Overdate

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.

nibanny

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.

derryb

pre 34 gold eagles are .9 fineness with the $20 gold piece containing .9675 oz. of gold.

PerryHall

<< <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.