Does the $50 American Gold Eagle contains 1 Troy oz of .9999 (24-Karat) gold after melted?

Hi Everyone, May be this question been answered many times, but I am not able to find a clear answer on this topic, so hopefully the experts in this forum can clarify this for me and thank you in advance for all replies.

From what I can gather, the $50 American Gold Eagle coin composition is 91.67% gold, 3% Silver, and 5.33% Copper. Because of these composition, it is also known to be a 22K gold coin (this is the source of confusion to me, as far as I know 22K gold should be cheaper than 24K gold. The market gold spot price is base on 1 troy oz of 24K gold and not 22K gold). However, the coin's total weight is 1.0909oz. So in theory if I were to melt it and extract out just the gold, would the gold content equals to 1 Troy oz of .9999 (24K)??
I think the answer is yes, but I need confirmation from expert on this forum.

Thanks

 

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The very numbers you've presented seem to answer your question.

 

1.0909 x 22= 23.9998 divided by 24=.9999916 so yes it is one troy ounce of gold

 

Yes, there is a full ounce of gold. The coin weighs slightly more than an ounce because of the alloy.

 

That's why it weighs more than an ounce.
So that there is an ounce of gold.
Plus there seems to be 1 gram of silver so there's another 55 cents. Cha ching.

 

Got it, thank you all for the replies!!
So if I just focus on the bullion, it seems that the gold eagle should worth a little more than the gold buffalo.
So between the two, which one is more popular in the market or to buyer? Which one is easier to sell or fetch a higher premium? or there's no difference between them.

 

The buffalo is better as it does not need to be refined to retrieve the gold.

 

The Buffalo is more expensive because the gold is purer. It is already in a .9999 fine state and doesn’t require any refinement. The 22K eagle does and refining costs money. So the buffalo will realize higher prices.

 

Hang on guys....slow down there im still doing the math sheesh.

 

Not that I’m a gold buyer but that was great question and I am glad you asked. Now I have the answer to that question as well thanks!
Reed
Oh and welcome to Coin Talk. Enjoy the fun!

 

And you made a mistake as well.

 

I’M NOT DONE YET SHEESH!

 

Okay I did the math, I’ll take a vowel Alex. Oh no sorry wrong game show.
I’ll take the pure 1oz coin for the win! Not pretty but pure.

 

I honestly think the Buffalo Nickel design is one of the most attractive designs ever put on US coinage.

 

What, the X (X - 1) = X^2 - 1? I figured you were just supposed to solve for X.

 

If this was model they used for the Obverse side then I would have said that it was pretty but the man that was the model for the coin was not attractive. The design itself is a different matter.
Reed.
P.s. I wish they would have found someone that looked like Amberae to be the model for Sacajawea instead of the ugly child carrying the ugly baby.


Amberae Wood (Cree and Ojibway) Model.