Is Silver next?

[1775usmarine]

Got my order from GSM. Only took 4 days to arrive. Will order from again though with my discount Provident seems to be the better deal with the 199 and over free shipping. Will wait to order from either when I get some cash or my divorce is finalized before stocking up.

 

[DoggyDaddy]

Got my order from GSM. Only took 4 days to arrive. Will order from again though with my discount Provident seems to be the better deal with the 199 and over free shipping. Will wait to order from either when I get some cash or my divorce is finalized before stocking up.

I set up Provident with my bank account so I can do the e-Check/ACH transfer. Gives you the same pricing as mailing a paper check and avoids the premium for using a debit or credit card. Ships pretty fast that way too.

 

[1775usmarine]

I set up Provident with my bank account so I can do the e-Check/ACH transfer. Gives you the same pricing as mailing a paper check and avoids the premium for using a debit or credit card. Ships pretty fast that way too.

I will be going that route as well. I will also get the bulk pricing even if I order 1 item. I think compared to Golden State the discount and free ship at 199 comes to a better deal with Provident. Plus they have more of a selection of silver to choose from.

 

[DoggyDaddy]

I will be going that route as well. I will also get the bulk pricing even if I order 1 item. I think compared to Golden State the discount and free ship at 199 comes to a better deal with Provident. Plus they have more of a selection of silver to choose from.

That's awesome that they give you that pricing! I usually choose something that's on sale where it's all one price regardless of quantity. It would be cool to be able to have more choices.

 

[DoggyDaddy]

Actually there is 1/2 Troy ounce of pure gold in these arts commemoratives:

Size: Half Ounce
Denomination: None
Gross Weight: 17.20 grams, 0.55 oz. Troy
Actual Gold Weight: 15.55 grams, 0.50 oz. Troy
Fineness/Composition: .900 Gold, 21.6 Karat
Diameter: 27.0 MM, 1.063 Inches
Thickness: 2.00 MM, .064 Inches
Specific Gravity: 17.16
(info from Liberty Coin Service)

I was looking at these today on Provident, but I'm still not sure how to figure out if it's a good price since it is also .900 rather than .999.

Pre-33 $10 Liberty Eagle Gold Coin Cleaned - Provident Metals™

Buy Pre-33 $10 Liberty Eagle Gold Coins Cleaned from Provident Metals. FREE Shipping on orders over $99. Call us at 800-313-3315.

www.providentmetals.com

 

[DoggyDaddy]

I was looking at these today on Provident, but I'm still not sure how to figure out if it's a good price since it is also .900 rather than .999.

Pre-33 $10 Liberty Eagle Gold Coin Cleaned - Provident Metals™

Buy Pre-33 $10 Liberty Eagle Gold Coins Cleaned from Provident Metals. FREE Shipping on orders over $99. Call us at 800-313-3315.

www.providentmetals.com

View attachment 192922

Spot is 1922.90 at the time of this posting. So I took .4838 x 1920.22 x .90 = 837.27. They're priced at 1074.44 or about 237.17 over spot. That seems high to me, but are my calculations correct?

 

[ancjr]

its .4838 ozt of .999

so it'd be:

Spot X .4838 = GOLD melt value or $930.29902

this DOES NOT include the copper value

 

[DoggyDaddy]

its .4838 ozt of .999

It is? How come the metal purity says .900?

 

[ancjr]

It is? How come the metal purity says .900?

Because that's counting the copper too. Remove the copper and it's .999 gold.

 

[DoggyDaddy]

Because that's counting the copper too. Remove the copper and it's .999 gold.

Okay. I thought the weight of the coin was .4838 ozt. If it gave the total weight of the coin like in spencer's example it would be clearer. The way I was interpreting it was .4838 ozt of .900 gold. It's so confusing.

 

[snorko]

It is? How come the metal purity says .900?

The metal purity is 0.90 because the .4838 oz gold is alloyed with other metals, likely copper. This is done to increase the durability of the coin.

For example, a Krugerand contains 1 oz of pure gold, but the metal purity of the coin is 0.9167. The Krug was minted with circulation in mind so it was alloyed to be harder.

Another example is the American gold Eagle and Buffalo. Both contain 1 oz of pure gold but the Eagle is 0.9167 and the Buffalo is 0.9999. The Buffalos will scratch and ding more easily than the Eagle. I guess that the Eagle would have a gross weight slightly higher than the Buffalo as well.

 

[DoggyDaddy]

its .4838 ozt of .999

so it'd be:

Spot X .4838 = GOLD melt value or $930.29902

this DOES NOT include the copper value

So it's 144.14 over spot then? That's better I guess but I still don't know if it's a good deal.

 

[DoggyDaddy]

The metal purity is 0.90 because the 1/2 oz gold is alloyed with other metals, likely copper. This is done to increase the durability of the coin.

For example, a Krugerand contains 1 oz of pure gold, but the metal purity of the coin is 0.9167. The Krug was minted with circulation in mind so it was alloyed to be harder.

Another example is the American gold Eagle and Buffalo. Both contain 1 oz of pure gold but the Eagle is 0.9167 and the Buffalo is 0.9999. The Buffalos will scratch and ding more easily than the Eagle. I guess that the Eagle would have a gross weight slightly higher than the Buffalo as well.

I didn't see where Provident listed these coins as having a total weight of 1/2 ozt though. That's what's throwing me off.

 

[snorko]

I didn't see where Provident listed these coins as having a total weight of 1/2 ozt though. That's what's throwing me off.

Well, .4838 not 1/2, I misspoke.

 

[DoggyDaddy]

Well, .4838 not 1/2, I misspoke.

But is .4838 the total weight of the coin, or is .4838 the total amount of .999 gold that has been alloyed with copper to bring the purity down to .900? And if SHTF, would anyone question that? How would I know (or how would they know)?

 

[Kurr]

.900 fine is the standard alloy usually for coins. "Coin Silver" jewelry is exactly that instead of .925 for sterling, it is .900 for the coins, they used to melt to make the pieces.

.900 has been the standard for coins for a loooong time, both gold and silver.

 

[DoggyDaddy]

.900 fine is the standard alloy usually for coins. "Coin Silver" jewelry is exactly that instead of .925 for sterling, it is .900 for the coins, they used to melt to make the pieces.

.900 has been the standard for coins for a loooong time, both gold and silver.

Then why are all modern "coins" and bars all advertised as .999 or .9999 pure?

 

[DoggyDaddy]

It just seems like there should be some kind of standard for determining the worth of gold or silver, etc.. If purity is .90, then it should be valued at .90 of of spot for .999 or .9999. I realize that the old coins weren't made with that in mind but dang, it just seems awfully convoluted.

 

[DoggyDaddy]

I'm mainly thinking of a SHTF situation. If I go to trade my gold or silver for goods, is the seller of those goods going to understand that "this" gold is only worth "this" much, while this other gold is worth "that" much?

 

[76Too]

Watching Hoosiers do math…

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