How much gold is actually in these?

I'm a little confused about something and was wondering if someone can help me out here.

I'm looking at this coin - a $10 Liberty Gold Eagle:

https://www.providentmetals.com/10-liberty-us-mint-gold-eagle-extra-fine-xf-or-better.html

Its composition is: 0.48375 troy ounce of .900 gold

Does that mean that the Actual gold content in the coin is .435375 ?

I'm asking because it's not an AGE where the 1 ounce of actual gold is there, even though the gold is 91.7%.

That's why I'm confused about this.

Thanks in advance for your help.

 

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That link you provided is an error link. Nothing showing.

 

I can't answer without seeing the coin. Please post both sides of the coin and not a link.

 

Ooooops! Just fixed it.

Thanks!

 

Okay, just did.

 

The coin is .900 fine but the weight of the gold is as you stated, .48375 ounce of pure gold.

 

http://www.coinflation.com/unitedstates/

Learn to deal primarily in terms of asw and agw, not fineness. Actual silver weight and actual gold weight is what you need to know.

 

It's 90% gold
10% copper

total weight is 16.718 grams (assuming no wear, etc).

which is 0.48375 fractional ounce of gold - a Half Eagle.
which is about $725.42 +/- of the price of an ounce of gold.
per website, cash, is $736.42
so you pay about a $11 premium over spot which includes free shipping.

i'd be curious on the buy back price for that XF+ raw coin.

 

this page may help too
https://www.ngccoin.com/price-guide/coin-melt-values.aspx?MeltCategoryID=1&BaseMetal=US-Gold-Coin

 

How do they justify taking the weight our to 5 decimal places?

 

Copy and paste from Wikipedia, of course.

 

This chart shows the amount of gold to be .48375 of an ounce.
https://www.ngccoin.com/price-guide/coin-melt-values.aspx?MeltCategoryID=1&BaseMetal=US-Gold-Coin

 

it looks convincingly cool !!

 

Thank you everyone!

So, here is my understanding of how it works:

There is something called "AGW" - Actual Gold Weight.

For a gold coin that isn't marked with its weight, you can't figure out the AGW on your own, even if a seller says it has .48 of gold. You have to check a chart at NGC to know what the AGW is.

For this coin it's .48375

Also, gold "Purity" basically means nothing in terms of how much AGW you are getting.

Thank you again everyone!

 

Yes your math is correct.

Take the coin weight (times) the gold content

5 grams (times) .900 gold = 4.5 grams .999 pure gold (AGW)

 

The Gold Standard Act of 1900 tied the dollar to gold at $20.67 per troy ounce. This works out to 0.048379 ounce per dollar, or 0.48379 ounce per $10 eagle.

The AGW of a double eagle is widely quoted as 0.9675, implying four-figure accuracy. (It's wrong; it should be rounded to 0.9676, but instead people just cut it off at the fourth place.) Even starting from the truncated number, halving that should give you 0.4838 (keeping the same number of significant digits), but every calculator will tell you 0.48375, and so that's what people show for the $10 eagle.

 

Take the coin weight x % of the the coin that is gold (i.e. fineness) = agw

For example: The American Gold Eagle contains gold with a fineness of .9167 and a weight of 1.0909 ounces.

So:
1.0909 x .9167=1

Fineness means that whatever size the thing is, the percentage of precious metal will always be that amount.

Likewise, any American junk silver that is .9 silver (90% silver). Take the weight of the dime, quarter, or half and multiply it by .9 for the asw.

Any item that is stamped sterling silver. Weigh the item and multiply that weight by .925 for the asw of that item.

Any gold jewelry that is 14k: weigh the jewelry and multiply by 14/24ths (.583) for the actual gold weight.

And so forth.

 

(correcting post that's now corrected)

 

Yep, you got my post right before I edited it!

 

I objected to his original post where he said "take the coin weight and multiply by the gold content" because "content" means how much gold. But "how much gold" is precisely what we are trying to determine why calculating for agw.

His math is correct, but terminology was wrong. My post was just all wrong terminology, because it was my response before I could quickly edit it seconds later!

The formula is coin weight by precious metal content =actual precious metal weight.