Gold eagles, pure gold?

escobar · 01-28-2012, 05:36 PM

I don't own any eagles but I saw this on wiki. This jumped out at me. Is this true?

Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in America, alloyed with silver and copper to produce a more wear-resistant coin. The specific alloy is also referred to as crown gold. The actual gold fraction is .9167 or (22 karat). It is authorized by the United States Congress and is backed by the United States Mint for weight and content.

http://en.wikipedia.org/wiki/American_Gold_Eagle

I notice it doesnt say 999 in the coins.

h4rdware · 01-28-2012, 06:04 PM

Most 'face value' bullion coins were traditionally hardened with copper and/or something else, for the purpose of circulation. 24k (.999) gold is soft and too easily dented/scratched or bent.

Some of the more common bulk bullion coins (without face value) are also 22k, for similar sorts of reasons. e.g. Krugerrands. Most of the 24k coins are issued in smaller numbers with lower expectation of circulation / bulk use.

They all however contain the right amount of gold (1oz, or whatever the coin size dictates). The 22k ones are just a bit heavier to make up for the lower purity.

Eagle - 22k
Krugerrand - 22k
Pesos - 22k
Sovereign/Pound - 22k

Maple - 24k
Buffalo - 24k
Kangaroo - 24k

**PMBug** · 01-28-2012, 06:24 PM

It's true. Gold Eagles use the same specifications as the South African Krugerrand. They contain 1 troy ounce of gold plus some silver and copper to harden it.

ancona · 01-28-2012, 06:32 PM

I like Maples because they are certified .999 purity. That is medical grade gold. The good shit is the best shit.

escobar · 01-28-2012, 06:54 PM

ah ok thx for the replies.

white&yellow999 · 01-29-2012, 12:03 PM

Originally Posted by ancona

:

I like Maples because they are certified .999 purity. That is medical grade gold. The good shit is the best shit.

Correction.... Maples are .9999 pure. LOL

AGE's contain 91.67% gold (22 karat), 3% silver, and 5.33% copper.

ancona · 01-29-2012, 12:17 PM

Originally Posted by white&yellow999

:

Correction.... Maples are .9999 pure. LOL

AGE's contain 91.67% gold (22 karat), 3% silver, and 5.33% copper.

You are right, I was wrong. I am officially corrected.

Actually, I buy the maples not because they are infinitessimally more pure than Eagles, but hey do not contain any base metals. I think our mint must know something we do not, because the addition of copper/silver to coin is solely to make them more durable for use as money.

01-28-2012, 05:36 PM	#1
escobar Predaceous stink bug Join Date: Nov 2011 Posts: 140 Liked: 40 times	Gold eagles, pure gold? I don't own any eagles but I saw this on wiki. This jumped out at me. Is this true? Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in America, alloyed with silver and copper to produce a more wear-resistant coin. The specific alloy is also referred to as crown gold. The actual gold fraction is .9167 or (22 karat). It is authorized by the United States Congress and is backed by the United States Mint for weight and content. http://en.wikipedia.org/wiki/American_Gold_Eagle I notice it doesnt say 999 in the coins. Share Share this post on Digg Del.icio.us Technorati Twitter

01-28-2012, 06:04 PM	#2
h4rdware Fly on the wall Join Date: Nov 2011 Location: little britain Posts: 82 Liked: 29 times	Most 'face value' bullion coins were traditionally hardened with copper and/or something else, for the purpose of circulation. 24k (.999) gold is soft and too easily dented/scratched or bent. Some of the more common bulk bullion coins (without face value) are also 22k, for similar sorts of reasons. e.g. Krugerrands. Most of the 24k coins are issued in smaller numbers with lower expectation of circulation / bulk use. They all however contain the right amount of gold (1oz, or whatever the coin size dictates). The 22k ones are just a bit heavier to make up for the lower purity. Eagle - 22k Krugerrand - 22k Pesos - 22k Sovereign/Pound - 22k Maple - 24k Buffalo - 24k Kangaroo - 24k Share Share this post on Digg Del.icio.us Technorati Twitter

01-28-2012, 06:24 PM	#3
PMBug Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault Posts: 1,926 Liked: 467 times	It's true. Gold Eagles use the same specifications as the South African Krugerrand. They contain 1 troy ounce of gold plus some silver and copper to harden it. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ The journey of a thousand miles begins with a single step. - Lao Tzu Do you have something to say about what I posted? Register and let your voice be heard.

01-28-2012, 06:32 PM	#4
ancona PM Bug Supporter Join Date: Nov 2011 Location: Waaay south Posts: 1,084 Liked: 343 times	I like Maples because they are certified .999 purity. That is medical grade gold. The good shit is the best shit. Share Share this post on Digg Del.icio.us Technorati Twitter __________________ All things being equal, the simplest answer is quite often the correct answer - Occam

01-28-2012, 06:54 PM	#5
escobar Predaceous stink bug Join Date: Nov 2011 Posts: 140 Liked: 40 times	ah ok thx for the replies. Share Share this post on Digg Del.icio.us Technorati Twitter

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