Back on line and hunting for Gold ! i saw this and wanted to get other members Take on it, i am a Krugerrand guy just got my first coin a couple of days ago only 1/10 once but looking at the higher weight option i noticed that both the Krugerrand and the AGE are .9167 and the Buffalo is .9999 so is that a big deal The cost is the same just the gold content is different, why ??
The difference between a gold eagle and a gold buffalo is that a gold eagle weighs more. However, they both contain exactly the same amount of gold. In the case of 1 oz gold, the buffalo contains ONLY gold (1 oz). While the eagle contains gold (1 oz) and other metals. Does that make sense? The Eagles weigh more, but they contain just as much gold.
right, the gold content is the same (1oz), its the purity thats different, the krug an age are almost 92% (.9167) gold and 8% another metal, while the buff is almost 100% gold (.9999)...
I dont think it makes any logical sense, so that to me sounds like a non issue 1 OZ of Gold is 1 OZ of gold no matter how you look at it i guess.
If they were going to do something idiotic like this why not just make the AGE .9999 instead of creating another coin that no one seems to want ?? havent Heard that much buzz over it
I think they started making the .999 to match stuff other countries make. It was something new for the mint and folks started collecting them.
24 carat gold is very soft. 22 carat is much harder and makes more sense for a gold coin. 24 carat was probably a concession to collectors.
The gold eagle bullion coins were composed to mimic circulated gold coins which were 90% for durability. The Buffalo was created later so the US Mint could have a 9999 gold coin to compete with RCM, Perth, and the like. The Buffalo is mainly a "Hey, we can do that too" exercise.
Well i guess if it works attitude then go for it, might get me one collecting alot of the 1/10 OZ gold coins as long as the premium isnt to high
You haven't heard much buzz over it because most people can't afford them and those that can don't like to advertise it. Not to mention what you are talking about coins over a thousand collectors have a tremendous amount of options. But yes AGEs are popular
If you were a little older and understood that Gold coins were a medium of exchange in the past, and like Silver coins were produced in "Fine" condition. They generally were produced to an international standard of 22 Karat material to resist wear. The .9999 Gold coins aren't as desirable for a circulating product. It's a relatively new product. I just sent an assortment of Type II "Uncirculated" Double Eagles (produced more than a century in the past), and was impressed with their condition, knowing how they were produced and shipped. I had to "chuckle" at your comment about desirability. Investigate the value of a circulated Carson City Gold coin relative to virtually any condition "modern" coin of similar Gold content, and you may understand relative desirability. The "modern" relatively pure metal composition product is produced for the eye, not for practical use. JMHO
Well i am sure Carson City Gold has a premium to it, if that,s the direction you want To head, not to much interested in the coin itself, had some double eagles in the past but really didnt have them for the gold or investment just because they were Double Eagles and i though they were cool
The point is: These old Gold coins were minted of virtually the same constituents as the "modern" AGE, were found to be very desirable as the more modern St. Gaudens double Eagle, and have become more valuable with time. The AGE will probably not be sold at its purchase price unless Gold becomes more valuable. It's likely that if you purchase modern double eagles having a similar design and Gold content, at close to the same price, you'll probably retain your initial investment. This has been my experience, and I believe you'll determine that buyers do find them quite desirable! JMHO