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Replies: 22 / Views: 98,841 |
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Pillar of the Community
United States
3294 Posts |
Of course, I would think that there would be a slight penalty for gold only 33% pure compared to the spot price of the same total amount of gold at 90%.
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Rest in Peace
United States
4849 Posts |
Quote: Thank you Steve199! I just encountered said lady and am hoping to get a refund...if not, she messed with the wrong person...will give her heck! Thanks again! Did you purchase it recently? Were you under the impression that it was a real 1908 $20 gold piece? If so, OUCH! I would be pursuing a refund ASAP!    Did you buy it on ebay?
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Pillar of the Community
United States
2335 Posts |
Quote: Of course, I would think that there would be a slight penalty for gold only 33% pure compared to the spot price of the same total amount of gold at 90%. There's not really a "penalty", but depending on where you are selling there can be refining & assay fees. The place I send my garage sale finds to refines the whole batch & pays a set percentage of the pure gold melt value, without any additional fees. I get the same % of melt value whether it's 10K, 14k, or 24K.
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Bedrock of the Community
United States
17884 Posts |
10, 14, 18, and 24K gold are all pretty much standard alloys which can be reused without additional refining. 8K is not standard and either has to be further refined or more gold has to be added to it to bring it to a standard fineness.
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Valued Member
United States
133 Posts |
I have one of these. Its still in the box from the Columbia Mint. Mines says 24kt on the back. I got it from my local coin shop for $15. he said it was .29 grams of Pure gold. I think he lied to me. it was an impulse buy. I've acually never bought gold before and this way I could have some for very cheap. I feel now after research that I got mega ripped off. Unless the 24kt gold ones are not HGE. Then in that case ill be happy paying $15 for $5 worth in real gold. could someone let me kno.  
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Valued Member
United States
60 Posts |
Yes, I've seen those for sale as well. 100% novelty, but pretty neat nevertheless. I'm pretty surprised at detail of some of the miniatures that have been offered lately.
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Bedrock of the Community
United States
14454 Posts |
Quote: I have one of these. Its still in the box from the Columbia Mint. Mines says 24kt on the back. I got it from my local coin shop for $15 Here is a ad from a Popular mechanics magazine from 1980 for the Columbia Mint mini's http://books.google.com/books?id=D9...e&q=&f=false
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New Member
United States
4 Posts |
Hi I am new to coin collecting but I have one of these *miniatures* also, it says its solid gold nothing about HGE or plating, it says 1907 high relief, 24Kt gold, .9999 AU, 10mm. It is TINY, it was purchased 8 yrs ago. I dont have a magnifier but it appears to have decent detail but I dont see how it really has any value as tiny as it is!
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Moderator
 United States
16679 Posts |
24K gold micron plated
swcoin.ecrater.com
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Valued Member
United States
54 Posts |
This site, it's forums, and it's members is and are the most helpful and knowledgeable of any I've used. Thanks, Dan
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New Member
United States
1 Posts |
Ok, so I inherited a dozen of these itty-bitty coins. I didn't think they were worth much, but I see that the Columbia Mint has them for sale online for $45 each. What is up with that? Sounds like a bit of a ripoff.
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Pillar of the Community
United States
8137 Posts |
The mint never made "mini" coins like the ones we are talking abput. As far as value, I would depend on the gold content and with the coins being really small, you can guess they are only worth little to nothing. So these things are a ripoff at $45.
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Bedrock of the Community
United States
17884 Posts |
The 24KT pieces quite possibly are solid 24 KT. The weight mentioned for one of these was .29 grams, and the Columbis Mint ad was from April 1980. In April 1980 gold was around $500 an oz so .3 grams of gold would have been worth $4.82 and the Columbia Mint was selling it for $20. A very believable price for a solid 24KT piece of that size. Today with gold at $1240 it is worth $11.96 If it turns out to be an 8 KT version then it is worth about $3.99 If it is plated then it is worth basically nothing. You would have to do a specific gravity test to really determine the actual content.
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New Member
United States
1 Posts |
I realize this reply is to a rather old question. However I may be able to add something of value to those who come here in the future with the same inquiry. These were made by the Columbia Mint in (1979 and close thereafter) as another member posted, however they are actually 22K gold, exactly the same as the original coin was. This is for many reason, one of course keeping as true as possible to the coin being honored in miniature, but as in most jewelry, 24K is just so soft it damages very easily and even this approximate 5% 'other' metals can make a difference in this fact. Consider that high grade stainless is 5% nickel and that changing the character of steel to a higher grade for some uses, the same as the 22K gold is about the highest used in other than 'pure' ingots. I have a number of these miniatures. There were also Lincon Cents done in the same size also in 22K gold. These are just for fun for me, not so much as an investment, but as a die hard coin'ie 'I just could not resist!' They came with necklace frames to hold them should you want to wear them around your neck or perhaps a charm bracelet. They have certificates of authenticity with serial numbers such as 'AA 95000' printed on heavy weight 'Light Gray Paper' and they came with a small booklet called 'Gold Coinage Through The Ages', then below 'Saint Gauden's $20 Gold Piece' printed on a light yellow paper. I have uploaded a black & white copy if your documents are missing, (serial numbers partially excluded of course.) You could create some replacements by printing on the colored paper I shared. Of course I would not try to create a Certificate of Authenticity, rather a copy of what 'they were' for your files.     
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New Member
United States
6 Posts |
I just found one in my dads things it is an MCMVII 1907. It also has a serial number on the side of the plastic coin case. On the backside at the bottom it has printing it says copy 24k.
I also came accross a nickel indian head on the front with LIBERTY, copy and a serial number on the back buffalo and 2002 UNITED STATES OF AMERICA, IN GOD WE TRUST. Are these things real?
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