Are gold coins pure gold?
There are two types of gold coins. The first type was produced for circulation and meant to be used as currency. The majority of these coins were phased out in the early to mid 1900’s. For example, here in the US these coins were produced up until 1933. Since they were meant to be circulated, they had to be hardened or alloyed (pure gold is too soft). The most common metal used for this purpose was copper. Again, using the US as an example, coins were made here using 90% gold and 10% copper.The second type of coin was produced to be a store of value. These coins were not meant to be circulated, and are not usually alloyed. The two main exceptions being the Krugerrand and the Gold Eagle (both of which come in at 22K). The vast majority of other gold coins being produced today are .9999 or 24K gold.
How much does a standard bar of gold weigh?
Gold is measured in ounces.ONE ounce = 31.1 grams.The standard gold bar which banks across various countries deal = 438.9 ounces = 12.4 kgs by weight.An picturesque representation of gold reserves held by different countries (taken from internet All the Gold in the World - Visualized in Bullion Bars ). Though India holds only 557 tongs, its citizen hold much more gold that the government india itself holds !! If it is pooled then it may be more than 20,000 tons.Dimensions of Gold Bars
How much does a bushel of gold weigh?
1192 ounces or 74.5 lbs......doesn't sound right...does it? Well, I gave it a try. Math has never been one of my strengths, but every once in a while, I'll try and "exercise" the math part of of my brain. I'm interested to find out how the correct answer is arrived at!
How much does a bar of gold cost?
There are several standards you might be thinking of when you refer to a standard bar of gold.There is the 400oz bar of gold. This is the one you see in movies .. the one used by banks and the one that is used to store gold in Fort Knox (yes really)The 400oz bar breaks down as 12.5 kilos and is worth a spurt above 500k with variance depending on the day (at 1700 per ounce it sits at 680k)Then there is the singular kilo bar standard at 99.95 or 99.99% purity which is used by the personal buyer for storage and investment. This is the usual measure of storing gold for the person who uses a bank vault or safe.This comes in at the standard multiple of a per ounce price (again for calculation purposes I am using troy ounces in a kilo at a price of 1700 which will be 32.15 times the ounce price = 54.5kThen you arrive at the easy accumulation unit which can either be in bullion investment coin form for easy transit and accumulation, or can actually be a bullion bar .. albeit a very small one .. as an ounce is only 31.1 grams (in gold we talk Troy ounce not imperial standard)And at 1700 an ounce a single ounce of gold is .. 1700 dollars !If you are using in Jewellery or trying to harvest from rivers and such .. or even gold prospect (go out there and be adventurous!) you will be weighing your gold in a gram weight which at the 1700 per ounce price is 54 dollars a gram. (Divide by 31.1 to derive the per gram price)Please note I used a fictitious market price to provide a guide to how you would calculate a price based on the amount involved and how to derive a single unit price at each level.The amount given will fluctuate but the means of determination will not .. therefore this can continue to provide a guide.
Buying gold coins, online or where?
Don't do it. My dad bought gold coins. Then he tried to sell them just a month later. He could not get half their value. Remember: You are not buying gold bars. You are paying about 1/2 for the design. To sell, someone else is going to want that design Stick to pure gold bars or invest in GLD
Riddle? I have 3 bags of gold...?
Take one piece from the first bag, 2 pieces from the second Bag and 3 pieces from the third bag. now weigh the 6 pieces you took idealy you shall get 6 Ozs if you get 7 its the first bag, if you get 8 it is the secong Bag and if you get 9 it is the third bag
How to find the volume of a coin.?
A coin is a cylinder with a large diameter and a small height. The volume of a cylinder can be calculated by multiplying the are of the circle by the height. I am sure you know the formula for the area of a circle? So that'll give you the volume. The density is just the weight that one cm^3 would weigh. Once you've got the actual volume of the coin, multiply by the density and you're there. Alternatively, drop the coin into a full (!!) glass of water and measure the volume of water that overflows. That'll be the volume of the coin.