22 vs 24 Karat gold
JungleFever
Posts: 516
I understand the difference in purity between 22K and 24K, but my question is: are the AE and the Buffalo both the same 1 ounce weight?? and if so.....well, wouldn't the 24K be worth a bit more? Thanks......
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I don't understand some people who "need" to have 24K.
An ounce of gold is an ounce of gold. I place no extra value on the Buffs versus the Eagles.
Each to their own.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
BTW: My indian friend uses 22kt American gold coins for his jeweler to make "real" jewerly for his wife and family members. It is very hard to find quality gold jewelry in the US, it is mostly 14-18kt crap gold that the mall stores sell. Most foreigner will not put up with this garbage.
<< <i>the 22kt coins weigh more than an ounce!
BTW: My indian friend uses 22kt American gold coins for his jeweler to make "real" jewerly for his wife and family members. It is very hard to find quality gold jewelry in the US, it is mostly 14-18kt crap gold that the mall stores sell. Most foreigner will not put up with this garbage. >>
True....it's us North Americans who started this 10K and 14K garbage. Although the English have had 9K, 14K, 15K and 18K for centuries.
Indians and Chinese only like 22K and higher.
Most Europeans want 18K and higher.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
It certainly does not need to be diluted further! That is done for economic reasons, as in cheapness. Such items are merely future food for a refinery.
I like 22k gold, as the copper in it lends it interesting colors which can become very striking over time.
I like 24k gold because of its permanency and total resistance to change. That is one of the original allures of the metal.
There once was a time when we knew very little of chemistry and could not create vibrant colored dyes or pigments easily. We were stuck with a precious few natural sources of colorants, few of them stable. The unalterable, unchanging color of gold must have seemed even more magical in these times.
<< <i>Gold is good.... pure gold is best..... like mine.
Are you talking jewelry, or bullion?
If you are putting away ounces on speculation, and you are paying a premium for 24kt over 22kt, you are pishking away money.
<< <i>Both contain 1 oz. of gold. I don't understand some people who "need" to have 24K. An ounce of gold is an ounce of gold. I place no extra value on the Buffs versus the Eagles. Each to their own. >>
I did not know that. I have only read that each contains an ounce of gold, one being 22K and the other being 24K. Obviously the 24K is more valuable per ounce than the 22K, the 14K and so on.
Thanks
<< <i>the 22kt coins weigh more than an ounce! BTW
I did not know this either. An ounce of gold is not apples to apples with the buffalo and the eagle coins.
<< <i>
<< <i>the 22kt coins weigh more than an ounce! BTW
I did not know this either. An ounce of gold is not apples to apples with the buffalo and the eagle coins. >>
24K = pure gold (No other metals mixed in)
22K and down just increases the amount of mixed metal. To harden for jewelry usually you would add a little copper.
As far as weight goes:
1 Ounce of 24K Gold = 1 Ounce
1 Ounce of gold in any other carrot you have to add in the amount of additional metal added to reduce the purity but you still have one ounce of gold.
I will take all gold, 1 oz of gold is 1 oz of gold.....
<< <i>.9999 should cost more because of its purity. >>
Why? The cost of refining? That is done in bulk and the cost is miniscule compared to the metal.
The canadian mint has produced a .99999 fine gold coin. The idea was to sell it at a premium to the four nines coin. No dice, I do not believe it actually does sell at a premium. It does not sell well at all.
So every 30 gold eagles contains a silver eagle.
--Severian the Lame
--Severian the Lame
<< <i>Two coins. One is made of 12kt (.500) gold and contains 1 ounce of gold. The second coin is made of 24kt (.999) gold and contains 1 ounce of gold. The first coin, 12kt, is going to be larger than the second coin, 24kt. If priced solely upon gold content both coins should be priced identically. >>
There are certain mitigating factors, such as the consideration that 100 ounces of pure gold in 12kt form will take up roughly three times as much volume as 100 ounces of pure gold in 24kt form, but a little alloy is a good thing.
Pure gold is very soft, and many of the gold Maple Leafs brought to us for sale must be discounted by an extra $5 or so due to scratching. We seldom have to discount eagles or Krugerrands.
TD