Should I buy 22K or .9999 fine gold?

Discussion in 'Bullion Investing' started by Gam3rBlake, Jan 19, 2021.

  1. Gam3rBlake

    Gam3rBlake Well-Known Member

    I guess in that case it might be smart to buy non-American gold if it can be found cheaper than Gold Eagles & Buffalos.

    When you really think about it an ounce of gold is an ounce of gold. If you melted an American Gold Buffalo and a Canadian Gold Maple Leaf they would both give you the exact same amount of pure gold so why pay more for branding?

    If the premium for American gold is higher than other gold it doesn’t seem like a good idea to buy it.

    However countries like China are sketchy so I wouldn’t buy their bullion.

    Countries like Canada & Australia though I trust their Mints completely and I feel 100% confident that when they say their coins contain 1 oz of .9999 gold that they are telling the truth.

    The Perth Mint is actually what I consider to be the #1 Mint in the World when it comes to their history and quality of their products.
    GoldFinger1969 likes this.
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  3. GoldFinger1969

    GoldFinger1969 Well-Known Member

    On the Perth....I love the Wedge-Tailed Eagle coin but you don't see that many at LCSs. More Ebay and HA and GC.

    Premiums/discounts for coins vs. gold content are usually 1-4%.
  4. fretboard

    fretboard Defender of Old Coinage!

    I'll tell you why! The reason for me is because when it comes time to sell, at least here in California most dealers want American gold coins. Sure, they'll buy other gold coins but they're gonna pay you less because they know the prices paid! I own quite a bit of foreign gold, just not Canadian as it doesn't do anything for me and the Queen don't help matters either! laughhard.gif
    medoraman and slackaction1 like this.
  5. medoraman

    medoraman Supporter! Supporter

    American coin collectors are probably the biggest homers on earth. We have a much higher percentage of those who only collect home coin country coins than anywhere on earth. This applies to bullion as well. Many buyers simply do not CARE, they will NEVER buy anything other than US coins. Therefore, premiums are higher for US coins than any others, all things being equal. So, if you plan on selling in the US in the future, you can expect it will be easier to sell.

    Btw, I highly disagree with the post earlier saying there is more gold in .9999 than other coins. If a coin is 1 ounce gold, its 1 ounce gold. Less pure ones will simply weigh more, since they have things in them BESIDES the 1 ounce of gold. The reason .9999 is more expensive is its more expensive to make, but also more desired since its easier for smelters to use this in the future if they melt than less pure gold is.
  6. FryDaddyJr

    FryDaddyJr Junior Member

    why would you spend the money to melt down .999?
    Heavymetal likes this.
  7. Heavymetal

    Heavymetal Supporter! Supporter

    6 of one
    Half dozen of the other
    As an investor,I don’t care much
    I make my money on GLD & SLV
    My physical is 10% of my investments
    I do love to touch some, as needed
    Buy low, sell high
    Hope to get another entry on silver
    Gold is back up the truck
    GoldFinger1969 and Dug13 like this.
  8. Herberto

    Herberto Well-Known Member

    I think even if one has 1 oz gold coin with the portrait of Hitler or Stalin one will still easily could sell it for the gold price. :)
  9. Heavymetal

    Heavymetal Supporter! Supporter

    If you have a Hitler gold oz, I’m in
    My father took care of that problem
  10. medoraman

    medoraman Supporter! Supporter

    Its a matter of who you sell it to. I would not melt down any coin, but if you invest in bullion, some day you will sell. That buyer could be a smelter. .999 is more valuable to smelters, since they can create other .999 items without paying to repurify, or it could be sold to a firm who needs .999 gold for specialty applications like gold circuitry. It simply has more potential uses in the future, so would be more valuable. You cannot simply melt down a double eagle and use it as is for many gold applications, it would cost money to purify.

    Personally, I do not think I own any .999 gold, just commenting on why a premium is justified. Are the Walkers or UHR 2009 issues .999?
  11. thomas mozzillo

    thomas mozzillo Supporter! Supporter

    @medoraman. I don't think the post says there's more gold in .9999 than other coins. Coins are not mentioned at all. Simply put, if you buy a one oz bar of .9167 gold there's not a full troy ounce of gold in it whereas a one oz bar of .9999 gold contains a full troy ounce in it. As you said, the .9167 gold coins weigh more than one oz. so you will get one ounce of gold whether you buy a .9999 Buffalo or an AGE. :)
    Last edited: Jan 21, 2021
  12. Gam3rBlake

    Gam3rBlake Well-Known Member

    I think he was talking to masterswimmer.

    Masterswimmer said:

    “The reason an oz of .9999 is more expensive than an oz of .900 is because you're buying more gold when you buy .9999””

    But he was telling Masterswimmer the same thing I did that a 1oz AGE and a 1oz Buffalo both contain 1 oz of pure gold even though the AGE is .9167 and the Buffalo is .9999.
  13. serdogthehound

    serdogthehound Well-Known Member

    total weight Buffalo = 31.1 grams
    total weight of a Gold Eagle = 33.9
    I rounded a bit but it the same amount of gold
    Etcherman likes this.
  14. Gam3rBlake

    Gam3rBlake Well-Known Member

    I know that’s what I was saying. That the gold content is the same.

    In truth you’re actually getting a slightly better deal with a .9167 AGE than a .9999 Buffalo.

    Because a Buffalo is simply 31.1g of pure gold.

    But an AGE contains 31.1g of pure gold plus by law it is also required to contain 3% silver. Or roughly 1 gram of silver in each 1 oz $50 AGE. Along with 5.33% copper. Both the silver and copper make up the remaining 8.32% of the metal content of an AGE.

  15. Gam3rBlake

    Gam3rBlake Well-Known Member

    Bullion Now actually got some Wedge-Tailed Eagles in today.
    fretboard and GoldFinger1969 like this.
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