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Old 04-22-2013, 07:21 PM   #1
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Gold Eagles not pure gold?

I just got a pamphlet from the US Mint. It says, "These 22-karat gold coins are available in limited mintages ..." To me, this says that a AGE isn't pure gold, it's about 91% gold. But then why does it say "1OZ. FINE GOLD" on the coin? Does a gold eagle weight more than a T-OZ, so that it does contains an ounze of gold?
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Old 04-22-2013, 08:07 PM   #2
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That is correct. A Gold Eagle contains one full troy ounce of gold, but has a total weight of 1.0909 troy ounce.
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Old 04-22-2013, 08:45 PM   #3
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Thanks. That explains it. But that bring up another question. I'd be interested in the opinions of the more learned people here. Do you prefer a coin thats 24K, or do you think a 22K coin is preferable, since the later would be at least slightly more durable. Does that even matter, since you're not going to be handling either coin a whole lot?
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Old 04-22-2013, 09:50 PM   #4
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Originally Posted by Cybrsk8r View Post:
Thanks. That explains it. But that bring up another question. I'd be interested in the opinions of the more learned people here. Do you prefer a coin thats 24K, or do you think a 22K coin is preferable, since the later would be at least slightly more durable. Does that even matter, since you're not going to be handling either coin a whole lot?
were I to have that problem "sigh"... I can't afford any gold anything. Its been silver all the way (got plenty of that though) although I suppose I could trade some silver for gold...
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Old 04-23-2013, 03:51 AM   #5
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Originally Posted by Jay View Post:
were I to have that problem "sigh"... I can't afford any gold anything. Its been silver all the way (got plenty of that though) although I suppose I could trade some silver for gold...
With the gold/silver ratio at 60, it would be better to sell gold and buy silver.
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Old 04-23-2013, 07:21 AM   #6
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You won't have any problems finding a market for (ie. selling) Gold Eagles at spot + premium. The Eagles are 3% silver (and 5.33% copper). So, you get a tiny bit of silver in the mix too (not that it's figured into the price).

If you prefer .999, you can always find (private mint) ingots in assay or Gold Buffalos from the US Mint.
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Old 04-23-2013, 07:47 AM   #7
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Originally Posted by Jay View Post:
were I to have that problem "sigh"... I can't afford any gold anything. Its been silver all the way (got plenty of that though) although I suppose I could trade some silver for gold...
Yea, almost everything I have is silver. I have a few 1/10 oz gold coins, but that's about it.
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Old 04-23-2013, 08:27 AM   #8
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Originally Posted by Cybrsk8r View Post:
Thanks. That explains it. But that bring up another question. I'd be interested in the opinions of the more learned people here. Do you prefer a coin thats 24K, or do you think a 22K coin is preferable, since the later would be at least slightly more durable. Does that even matter, since you're not going to be handling either coin a whole lot?
It is really a matter of preference. 22k coins (U.S. Eagles and Krugs) and 24k coins (Canadian Maples, China Pandas, ect.) both sell easily.
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Old 04-23-2013, 10:30 AM   #9
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I might suggest looking at Australian and Canadian coins as well.

During spikes, the premiums actually go up quite a bit on the Australian lunar series. Same with Pandas.
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Old 04-23-2013, 10:39 AM   #10
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I have no problem with the 22 carat gold eagles. I believe they make them that way so they are durable. Not that they were ever meant to be in circulation, but it may play well when the lights go out and the EBT's stop reloading.
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Old 04-23-2013, 10:46 AM   #11
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Originally Posted by ancona View Post:
I have no problem with the 22 carat gold eagles. I believe they make them that way so they are durable. Not that they were ever meant to be in circulation, but it may play well when the lights go out and the EBT's stop reloading.
I own some as well.. I not not saying not to buy them because they are relatively low premium.

However, I do think we will eventually get into a mania/bubble phase in gold and silver. At that point, premiums on a 1 oz dragon will probably exceed 50% over a comparable coin. And I feel like I'm being conservative with that number.
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Old 04-23-2013, 10:54 AM   #12
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Originally Posted by DSAbug View Post:
... a 1 oz dragon ...
Which dragon? The Perth Mint coin or the Pamp ingot?
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Old 04-23-2013, 12:03 PM   #13
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Originally Posted by PMBug View Post:
Which dragon? The Perth Mint coin or the Pamp ingot?
Australian Lunar series in general. That's where most of my collection has been focused since 05. Premiums were only 3-5% back then.
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Old 04-24-2013, 02:12 AM   #14
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I’ve just had a look at Gold Eagle on the U.S mint and it says 1 oz FINE GOLD. Now I’m confused on Fine and Pure Gold?
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Old 04-24-2013, 07:05 AM   #15
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There *is* 1 ozt of gold in a gold eagle. There is also a bit of silver and copper. Total weight is more than 1ozt.
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Old 04-24-2013, 08:48 AM   #16
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This lists the purity of several common 1 ounce coins:
http://www.nationalgoldgroup.com/gold-bullion/

The American Gold Eagle specifically:
http://en.wikipedia.org/wiki/American_Gold_Eagle
"Composition 91.67% Au 3% Ag 5.33% Cu"
"Gross weight: 1.0909 troy oz (33.930 g)"

Essentially you get one ounce of gold and 0.0909 ounces of silver/copper.
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Old 05-09-2013, 05:13 AM   #17
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Yes it is true one a eagle coins is consist one ounce of gold and it is hundred percent pure. If you are interested to buy them then don't feel to hesitate.
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Old 05-09-2013, 05:32 AM   #18
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24k gold coins are REALLY soft. I own one AM Buffalo. I bought it because I think it is a most beautiful design, also revives my childhood memories of countless books about Indians, Wild West and everything - when Indians were still good old plain Indians, and not Native Americans - and the nostalgia I've felt, when I've learned, that these days are long gone! - oh, child's naivety . And I don't even know when, but I've squished it's rim in one spot. No idea when it has happen

So if you go for 24K gold, be extra careful when handling it, otherwise it will wear quickly.
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Old 05-09-2013, 09:58 AM   #19
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I put all my coins in holders and then put bubble wrap around them. Started doing this when one of my ASEs got a ding on Liberty's skirt. If I ever get any 1 oz gold coins, I'll opt for the hard plastic capsule.
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Old 05-09-2013, 07:15 PM   #20
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...

Most of my gold is in the form of 1 oz Eagles, so I have learned what I can about them. I keep them in the hard plastic tubes to protect them as well.

Yes, the coin is 1.0909 troy ounces total weight, of which 1.00 is gold. They are indeed 22 kt (.917 fine), but as they weigh more, the 1 oz of gold is there. AGEs also have some 3% silver and 8.13% copper. The silver is one way Eagles are not clones of the Krugerrand.

More info on gold and gold coin specs from a year ago:

http://robertmixblog.blogspot.com/20...ts-for-99.html
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