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GOLD PURITY ???

BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
in Precious Metals
This statement from the Provident Metals site.
"
Each of these gold coins will contain 1 Troy Ounce of .999 Fine Gold. These coins will display imperfections such as but not limited to scratches, nicks, ,staining, and rim dings. Included in this product will be Kurgerrands, Gold Maples, American Gold Eagles, Gold Philharmonics, Gold Pandas, and Australian Nuggets/Kangaroos.
Designs our choice."

Since an AGE contains silver and copper in addition to the gold per Wikipedia can the gold still be considered to be 0.999 fine?
theknowitalltroll;

Comments

  • nibannynibanny Posts: 2,761 ✭
    The way I see it is that gold is 999 but the coin is 917.
    So, they are selling you a full ounce of pure gold in a coin that mixes it with other elements.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    they could word it better, but what it means is each coin contains the full ounce of gold, not that it is not alloyed.

    the Krug is also 22k like the AGE, and both weigh more than 31.1 grams overall but contain that much gold

    Liberty: Parent of Science & Industry

  • derrybderryb Posts: 36,825 ✭✭✭✭✭
    Save this link in your "gold coin" folder:

    Gold 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

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>they could word it better, but what it means is each coin contains the full ounce of gold, not that it is not alloyed.

    the Krug is also 22k like the AGE, and both weigh more than 31.1 grams overall but contain that much gold >>



    I know what they mean to say. One could mix copper and .999 fine gold to get the proper composition for Saints or melt down a bunch of junk Saints and add copper/gold/silver as necessary to get the feedstock for making AGEs. IMO .999 gold loses its appeal when alloyed with something else. Seems like waste of pure gold to me, esp. if the impurity is silver. If I want to own pure gold, I'd prefer it be something like a Maple leaf or a bar. To me an AGE does not contain .999 gold. It would have been better had they just said that each coin contains a full ounce of gold.
    theknowitalltroll;
  • nibannynibanny Posts: 2,761 ✭
    Pure gold though is more soft than an alloy.
    If you see, the majority of Maples are in soft plastic bags.
    The 1 oz comes in rolls...I have one and it has some little dings. Haven't seen those in any Krug or Age.
    In the end, you know that any of the mentioned coins is said to contain 1 oz of pure gold.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i> IMO .999 gold loses its appeal when alloyed with something else. Seems like waste of pure gold to me, esp. if the impurity is silver. If I want to own pure gold, I'd prefer it be something like a Maple leaf or a bar. >>



    This certainly seems to be a more common position in the last ~20 years or so. Especially since Asians and Indians don't like alloyed gold, and they're a big chunk of what is driving the market right now.

    But the fact is that alloyed gold has been used in coins for thousands of years for good reason. The vast majority of gold coins produced in Europe and America for hundreds of years have been 90% pure, give or take.

    I like them both: I can see the draw of .999+ gold coins, and I can see the draw of alloyed coins. So long as the % of other metal isn't greater than maybe 10%, and the coins are common and recognized, I'm fine with them.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    this not pure gold

    image


    this pure gold

    imageimage

    Liberty: Parent of Science & Industry

  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    One might expect that someone shopping for off-quality gold coins with " imperfections such as but not limited to scratches, nicks, staining, and rim dings" might actually even prefer a more durable alloy than .999, as the damage may not be as severe because 22k .9167 and coin-gold .900 are somewhat harder and can withstand more handling

    image

    Liberty: Parent of Science & Industry

  • unknowncomicunknowncomic Posts: 945 ✭✭
    I'll be glad to get rid of your old dinged ,scratched and dented gold coins. Send them to me for proper disposal.
    image
    Molon Labe
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>One might expect that someone shopping for off-quality gold coins with " imperfections such as but not limited to scratches, nicks, staining, and rim dings" might actually even prefer a more durable alloy than .999, as the damage may not be as severe because 22k .9167 and coin-gold .900 are somewhat harder and can withstand more handling

    image >>



    I did note that they make no distinction among the various types when it comes to pricing. I wasn't especially looking to purchase blems, but was just curious about what they had when vpr indicated he had ordered some. Even the harder alloyed gold can take a pretty good hit when mishandled properly. I can't imagine anyone who buys them damaging them any worse than what they are. You are however at their mercy when it comes to what they choose to send to you.
    theknowitalltroll;
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Many have a difficult time understanding that AGE's have an ounce of gold but are 22k...and gold buyers love to prey on the uninformed...telling them they have less than an ounce of gold.... Cheers, RickO
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Many have a difficult time understanding that AGE's have an ounce of gold but are 22k...and gold buyers love to prey on the uninformed...telling them they have less than an ounce of gold.... Cheers, RickO >>



    I wonder how many of those same people believe that Saints have an ounce of gold in them.
    theknowitalltroll;
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