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 Replies: 8 / Views: 1,802 |
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New Member
Canada
3 Posts |
Hi. I am new to coin collecting and determining the value of coins.
I was wondering how much value in gold is in a gold coin.
For example the 2011 Canada $150 Year of the Dragon 18K gold coin.
According to my calculations:
75% of coin is pure gold = 11.84g x .75 = 8.88g
1 ounce of gold = 31.1g
therefore the coin contains 8.88/31.1 = 0.28553 oz of gold
since 1 oz is worth roughly $1743, that means ...
the gold in the coin should be worth $1743 x 0.28553 = $498
I would like you to confirm my calculations. I did not factor in the price of the silver, which is probably not much.
Are these coins a good investment or is it preferrable to buy boullion coins instead?
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Rest in Peace
United States
9104 Posts |
 Thrasher I'm looking at a 55 Chevy Wagon in excellent condition. It has a curb weight of two tons, and steel is going for $300/ton, so it's worth $600. Is $750 a fair price? Are you collecting coins or scrap metal? That will provide your answer. |
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Pillar of the Community
Canada
627 Posts |
Your math calculations are correct Thrasher. As far as it being a good investment...it all depends on what you paid for it. I'm not sure of the nunismatic value of the coin, but if you bought it for $498 or less, then its a the same as a bullion coin.
Now...concerning that 55 chevy wagon...where can I pick one up for $750? I'll take it.
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Pillar of the Community
 Canada
9877 Posts |
2011 is year of the rabbit,I don't believe the 2012 dragon coins are out yet They'll be going for around $680,not a good bullion buy Most collectors only pretend coins are a good investment so they can justify their hobby Edited by DBM
08/15/2011 09:46 am
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New Member
 Canada
3 Posts |
I see, haha. Didn't think it was a good investment. But at $500 worth of gold it is not a total rip off if the price is $688. (like the 1/25z for $110)
Thanks guys for the replies.
Edited by Thrasher
08/15/2011 11:31 am
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New Member
Canada
3 Posts |
The thing is that I would not pay that much for a coin. I work at a post office and we are trying to figure out if we order 2 of these coins if they will sell... We don't usually stock gold coins but the Chinese Zodiac signs are usually very popular and this is a beautiful coin...
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New Member
Canada
1 Posts |
The coins are also priced over the bullion value to A make profit and B discourage people from using them in regular transaction I believe. They are also very well made. I'm collecting the silver lotus ones myself and the box is exquisite.
Edit: I remember calling the mint a while ago about another series that was not shipping for a while and they told me the 2012 dragon would arrive in October if I remember.
Edited by randomdice101
08/24/2011 4:02 pm
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Valued Member
Canada
278 Posts |
I agree that they would not be a good bullion buy. What type of traffic do you see at the post office for coins? Perhaps you could aks your customers about pre-ordering and see if you get any takers?
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Valued Member
Canada
85 Posts |
The lunar year coins are commemorative, and may not be calculated by the bullion price.
The sales status at post office is very different, I still see tiger and rabbit lotus coins, or some early bi-metal lunar coins in some post office.
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Replies: 8 / Views: 1,802 |
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Posted 08/15/2011 08:26 am
