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 Replies: 17 / Views: 4,308 |
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Pillar of the Community
United States
4212 Posts |
Uhhh, if you say so.  |
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New Member
 United States
3 Posts |
Thanks for your replies and thanks for welcoming me to this forum! :)
Yes, at first I too thought the reason was the inaccuracy of the measurement of the thickness. But I'd have expected a discrepancy in the order of 5-10%... In order to have exactly one troy ounce of weight the thickness should be 1.9mm which is more than 1mm less than the thickness they provide.
But anyway, I suppose you are right, even though I'm not a 100% convinced.
Is there anyone here reading this post that owns an American Buffalo coin that can double check for me? Is there really such a big gap between the rim and other points of the coin?
Thanks
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Pillar of the Community
United States
4901 Posts |
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How is that possible? Does anyone know why there's a 30% difference? What am I doing wrong? Just curious...why did you do it at all? |
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Pillar of the Community
United States
586 Posts |
fabry, I would suggest using a measuring bottle. Drop the buffalo into the water, and measure the volume difference. Please let us know the new calculation result.  Edited by leon1998
11/21/2014 2:17 pm
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Pillar of the Community
United States
4901 Posts |
Simple me would look at the coin...it says one ounce .999 pure gold...it weighs one ounce... Check....  p.s. your math might be a bit more accurate with a smooth surface planchet oops:  Edited by Foxwoods Man
11/21/2014 2:31 pm
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New Member
United States
3 Posts |
@Foxwoods Man: why wouldn't everyone do it? If I need to spend a lot of money to buy a golden coin I want to know what I'm buying :)
@leon1998: yes I would have certainly followed that route if I had had one of those coins... If I eventually buy it, I will let you know my results :)
Thanks for your replies!
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Pillar of the Community
United States
4901 Posts |
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@Foxwoods Man: why wouldn't everyone do it? If I need to spend a lot of money to buy a golden coin I want to know what I'm buying :) First...I doubt you would NEED to buy a golden coin..maybe want to buy or decide to buy but need? I don't get that. ....and second ...the American Buffalo Gold Coin has been around for a many years and is accepted and easily traded/sold/bought as one ounce of pure (.999) gold. That's good enough for 99.9% of investors..no imperfect math needed |
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Pillar of the Community
United States
1278 Posts |
unless it's a chinese fake...
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Pillar of the Community
United States
3755 Posts |
The gold and silver coins are guaranteed in weight and fineness by the US mint. I dont always buy into guarantees, but this one I do.
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Pillar of the Community
United States
4901 Posts |
Correct...and that would apply to absolutely every coin or piece of precious metal known to man (or woman).
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Pillar of the Community
United States
3755 Posts |
Thats going a bit overboard Fox. EVERY coin is NOT minted by the US mint. I surely do NOT trust the silver content of many older foreign coins like I do the US coins. And certainly every piece of PM is NOT guaranteed by the mint. |
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Pillar of the Community
United States
621 Posts |
foxwoods man, He said "If I need to spend a lot of money to buy a golden coin I want to know what I'm buying :)". I think you may have misunderstood what he meant. He didn't say he needed to buy an expensive gold coin but that if he must spend a lot of money to buy a gold coin that he wants to learn as much as possible about them.
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Pillar of the Community
United States
4901 Posts |
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I surely do NOT trust the silver content of many older foreign coins like I do the US coins The point was that I stated that the Buffalo was a safe coin to buy and it was pointed out "unless it was a fake from China" which is a valid point. Not all coins collectors/investors purchase are purchased direct from the Mint. Any secondary market be it ebay or your local shop can have fakes of ANY coin including the Morgan dollar, ASE, Gold Buffalo, or even the Pres dollar. The key is to buy from a trusted source and not to be smug just because it says USA on it. |
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Bedrock of the Community
United States
20753 Posts |
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The gold and silver coins are guaranteed in weight and fineness by the US mint. I dont always buy into guarantees, but this one I do. The difference is due to the government requiring a profit on all the coins they make for collectors. Since they do not tax coins they make and sell, they just keep some of the metal. This excess metal is compiled and the more they keep, the more of a bonus they get at the end of the year.   |
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Pillar of the Community
United States
4901 Posts |
Quote:
Since they do not tax coins they make and sell, they just keep some of the metal.
This excess metal is compiled and the more they keep, the more of a bonus they get at the end of the year. WOW!  I really hope THAT was said tongue in cheek... |
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Posted 11/21/2014 1:47 pm
