If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#1
|
|||
|
|||
Q about 1st Flight gold content
As was previously noted, the First Flight gold proofs are being sent. I got
mine yesterday, Wed 8/27. The COA states it weighs 16.718 grams, and is 90% gold, 10% alloy, diameter 1.06", 27mm (vs the 1/2 oz $25 bullion Eagle, which is 16.966 grams, 91.675% gold, dia = 27 mm) Question 1) why would they bother coming up with a different composition for the commem, and not simply use the same planchet as the $25 Eagle? OK, moving on, according to my calculations, the commem is 15.0462 grams of gold, or 0.48374658 troy ounces the $25 Eagle = 15.553581 grams, or 0.50005924 troy ounces now 100% gold = 24 karat, 91.7% = 22 karat, so the $25 Eagle = 22 karat, and then First Flight Commem = 21.6 karat Question 2) would there be a reason why the Mint wanted to make the Commem a smaller karat? (ok, I know, I shouldn't use "reason" and "Mint" in the same sentence) by the way, for those confused between troy oz and avdp oz: 1 troy ounce = 31.1034768 grams (vs an avoirdupois ounce = 28.35 grams). We typically use the avdp ounce in our daily lives, and there are 16 (avdp) ounces in a pound, but for gold, the troy ounce is used. Mark |
Ads |
#2
|
|||
|
|||
Nooker wrote:
Question 1) why would they bother coming up with a different composition for the commem, and not simply use the same planchet as the $25 Eagle? Actually, it's the $25 that's the aberration. The $10 First Flight is the same size and fineness of the traditional ten dollar gold coins, minted until 1933. Question 2) would there be a reason why the Mint wanted to make the Commem a smaller karat? (ok, I know, I shouldn't use "reason" and "Mint" in the same sentence) As above -- it's the same that non-bullion ten dollar gold coins have been since the 1800s. Same goes for the $5 gold commems -- they are minted to the same standards as traditional half eagles. -- Bob |
#3
|
|||
|
|||
ya see Bob, that's why I take part in RCC, ya learn something every day !
Thanks a bunch ! but it does beg the question : since they have switched to the new composition gold for bullion, why require different, and ever so slightly, planchets for commems? tradition? seems they are missing out on some cost savings if you ask me. mark "Bob Flaminio" wrote in message ... Nooker wrote: Question 1) why would they bother coming up with a different composition for the commem, and not simply use the same planchet as the $25 Eagle? Actually, it's the $25 that's the aberration. The $10 First Flight is the same size and fineness of the traditional ten dollar gold coins, minted until 1933. Question 2) would there be a reason why the Mint wanted to make the Commem a smaller karat? (ok, I know, I shouldn't use "reason" and "Mint" in the same sentence) As above -- it's the same that non-bullion ten dollar gold coins have been since the 1800s. Same goes for the $5 gold commems -- they are minted to the same standards as traditional half eagles. -- Bob |
#4
|
|||
|
|||
The gold American Eagle coins were designed specifically to compete with
the Kruggerand in the bullion coin market. The congress had the GAE struck to the exact same weight and fineness as the K-rand. If you want to know why South Africa chose the fineness they did, ask them :-) The $10 commems are struck to the same standard as the normal Eagle because the mint never received authorization to change the standard used for the circulating coin (tradition can be legally mandated :-) -Steve |
#5
|
|||
|
|||
The South African Mint, as a branch of the Royal Mint, used to strike
Sovereigns and Half Sovereigns in 22kt gold because that was the standard British fineness. As they achieved independence from Great Britain, they continued to strike Two Rands and One Rands to the same standards as the Sovereign and Half Sovereign. When they introduced the one ounce Krugerrand in 1967, they simply continued using 22kt gold. When the U.S. banned the importation of Krugerrands, which had expanded to include fractional sizes, in 1985 and authorized the striking of the American Eagle series to replace them, Congress mandated that the Eagles be of the same size and fineness as the Krugerrands so that American jewelry manufacturers who were stocking jewelry settings for Krugerrands would not suffer an economic loss because of Congress' action. Tom DeLorey .. Subject: Q about 1st Flight gold content From: (Steven Preston) Date: 8/28/2003 6:55 PM Central Daylight Time Message-id: The gold American Eagle coins were designed specifically to compete with the Kruggerand in the bullion coin market. The congress had the GAE struck to the exact same weight and fineness as the K-rand. If you want to know why South Africa chose the fineness they did, ask them :-) The $10 commems are struck to the same standard as the normal Eagle because the mint never received authorization to change the standard used for the circulating coin (tradition can be legally mandated :-) -Steve TomDeLorey .. "Standard Oil" What they use to keep the grading standards slippery! |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
ST Cards for Auctionne | Lynne Stewart | Cards:- non-sport | 0 | July 4th 04 09:17 PM |
ST Cards for Auctionne | Lynne Stewart | Cards:- non-sport | 0 | July 4th 04 09:16 PM |
TOS 35th Anniv sketches and more! | Lynne Stewart | Cards:- non-sport | 0 | February 28th 04 01:53 PM |
More ST Cards with 1 cent opening bids :) | Lynne Stewart | Cards:- non-sport | 0 | February 3rd 04 09:29 PM |
ST Auctionne for 12/15 | Lynne Stewart | Cards:- non-sport | 0 | December 16th 03 02:47 PM |