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<p>[QUOTE="ffrickey, post: 3247804, member: 20613"]Briefly, </p><p>1) the denomination in modern bullion coins is an arbitrary value (cf. US 5-oz silver "quarter") which allows them to be classified as legal tender, which means in some states (e.g. Germany for gold) they are not taxed.</p><p>2) A sovereign was/is the standard British gold coin weighing close to a 1/4 ounce of gold and was originally worth 1 pound. They were minted throughout the empire. Naturally today they cost a couple of hundred pounds.</p><p>3) A 1-oz gold coin contains one ounce of gold, but may also contain additional alloys, like the Krugerrand. So if you melt one down, you may get more than an ounce of metal, but still only an ounce of gold.</p><p>4) A melted-down coin will probably sell at even less than spot, since a lump of metal will have to be assayed. The coin at least is supposedly a guarantee of quality, which is why they sell at a premium to spot. But watch out for fakes.</p><p>5) You can make ornaments from melted coins or unmelted ones. Austrian Maria Theresia Thalers are or were highly prized as ornaments in Africa.[/QUOTE]</p><p><br /></p>
[QUOTE="ffrickey, post: 3247804, member: 20613"]Briefly, 1) the denomination in modern bullion coins is an arbitrary value (cf. US 5-oz silver "quarter") which allows them to be classified as legal tender, which means in some states (e.g. Germany for gold) they are not taxed. 2) A sovereign was/is the standard British gold coin weighing close to a 1/4 ounce of gold and was originally worth 1 pound. They were minted throughout the empire. Naturally today they cost a couple of hundred pounds. 3) A 1-oz gold coin contains one ounce of gold, but may also contain additional alloys, like the Krugerrand. So if you melt one down, you may get more than an ounce of metal, but still only an ounce of gold. 4) A melted-down coin will probably sell at even less than spot, since a lump of metal will have to be assayed. The coin at least is supposedly a guarantee of quality, which is why they sell at a premium to spot. But watch out for fakes. 5) You can make ornaments from melted coins or unmelted ones. Austrian Maria Theresia Thalers are or were highly prized as ornaments in Africa.[/QUOTE]
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