Major error: 2014 one ounce gold eagles found struck on 24kt gold Buffalo planchets
CaptHenway
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Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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I'm not that lucky.
Yes. Though the American Eagle gold coins contain 3% silver to make the alloy a lighter color than the Krugerrands they were intended to replace, there is still a bit of "red gold" to them.
Coin differences:
AGE: 33.93g weight, 32.70mm diameter, 2.87mm thickness, 91.67% gold, 3% silver, balance copper
Gold buff: 31.1034768g weight, 32.70mm diameter, 2.95mm thickness, 99.99% gold
Gold buffalo is a tad thicker and about 2.82g lighter than the gold eagle. The alloys added to the one ounce of gold to make it weight just over an ounce.
"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
Does this mean there are at least two 2014 gold buffalos struck on AGE planchets?
Coin differences:
AGE: 33.93g weight, 32.70mm diameter, 2.87mm thickness, 91.67% gold, 3% silver, balance copper
Gold buff: 31.1034768g weight, 32.70mm diameter, 2.95mm thickness, 99.99% gold
Gold buffalo is a tad thicker and about 2.82g lighter than the gold eagle. The alloys added to the one ounce of gold to make it weight just over an ounce.
The 24kt planchets should be a bit thinner than the 22kt planchets with the full ounce of gold plus the alloy.
The struck 24kt coins are thicker than the struck 22kt coins because of the height of the rim in the design.
A 24kt planchet struck on a press set up to strike the thicker 22kt planchets could theoretically result in a less than perfect strike, but I doubt it would happen. 24kt gold is very malleable.
Does this mean there are at least two 2014 gold buffalos struck on AGE planchets?
Coin differences:
AGE: 33.93g weight, 32.70mm diameter, 2.87mm thickness, 91.67% gold, 3% silver, balance copper
Gold buff: 31.1034768g weight, 32.70mm diameter, 2.95mm thickness, 99.99% gold
Gold buffalo is a tad thicker and about 2.82g lighter than the gold eagle. The alloys added to the one ounce of gold to make it weight just over an ounce.
The 24kt planchets should be a bit thinner than the 22kt planchets with the full ounce of gold plus the alloy.
The struck 24kt coins are thicker than the struck 22kt coins because of the height of the rim in the design.
A 24kt planchet struck on a press set up to strike the thicker 22kt planchets could theoretically result in a less than perfect strike, but I doubt it would happen. 24kt gold is very malleable.
makes sense
"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
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So does this mean the price of a 2014 AGE just increased with the discovery?
Considering that they are already expensive and that the mint sold 425,000 of them, I doubt there will be many roll searchers gobbling them up.
Price did go up for at least two of them.
"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
And so, the search begins..... it will be an expensive search though...
will be tough on anything already in a slab. Precision weighing of the coin itself is about the only way to confirm. Color difference between 24k and 22k on a two year old AGE will be hard to determine.
"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
And so, the search begins..... it will be an expensive search though...
will be tough on anything already in a slab. Precision weighing of the coin itself is about the only way to confirm. Color difference between 24k and 22k on a two year old AGE will be hard to determine.
This would tell you through the slab:
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And so, the search begins..... it will be an expensive search though...
will be tough on anything already in a slab. Precision weighing of the coin itself is about the only way to confirm. Color difference between 24k and 22k on a two year old AGE will be hard to determine.
This would tell you through the slab:
Sigma PMV is a "go, no go" instrument. It does not spit out the metal content. You have to select the metal content manually and then take a reading on the coin. Any reading between the indicator brackets tells you the coin is solid and not plated.
I'll try to get by the SDB today and pull some buffs and AGEs and run some tests with my PMV to see if there is any way to use it to determine if a coin is 22k or 24k. This may very well be how APMEX got their initial results.
"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
And so, the search begins..... it will be an expensive search though...
will be tough on anything already in a slab. Precision weighing of the coin itself is about the only way to confirm. Color difference between 24k and 22k on a two year old AGE will be hard to determine.
This would tell you through the slab:
Sigma PMV is a "go, no go" instrument. It does not spit out the metal content. You have to select the metal content manually and then take a reading on the coin. Any reading between the indicator brackets tells you the coin is solid and not plated.
I'll try to get by the SDB today and pull some buffs and AGEs and run some tests with my PMV to see if there is any way to use it to determine if a coin is 22k or 24k. This may very well be how APMEX got their initial results.
It might be but chances are they just weighed it. I would have loved to see the person's face when a $50 AGE weighed in at 31.1g!
And so, the search begins..... it will be an expensive search though...
will be tough on anything already in a slab. Precision weighing of the coin itself is about the only way to confirm. Color difference between 24k and 22k on a two year old AGE will be hard to determine.
Do the weights of the slabs vary by much? If you know the weight of the slab you could still weigh the graded coins but I don't know if it's plausible or not.
"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
Have any more of these surfaced?
If the error isn't obvious to the naked eye, I don't think it will generate the excitement or the extremely high price of, for example, the 1943 bronze cent.
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I would anticipate it will generate a high price in the right circles.