Crazy Math - Coin Community Forum

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Author	Replies: 6 / Views: 2,443
Scooby Due Pillar of the Community United States 4000 Posts	Posted 07/03/2010 01:30 am I just watched one of the $50 Gold Proof Tribute coin commercials. The one where "copy" is so well hidden in the Indian's feather, you wouldn't notice if you weren't looking for it. The one where they can only guarantee the price for 7 days for at least a year now. The one plated in a whopping 14mg of pure 24kt gold for $9.95. But, I didn't catch if there was shipping charges. Anyway, forget shipping. Just keep it in mind if there is charges. Out of curiosity, I decided to pro-rate this on a per ounce basis and took off my socks (there was no way I was going to be able to do this with just my fingers). There are 28,349.5231 mg in one ounce. At 14 mg per coin is 2024.966 coins. At $9.95 each, that calculates to $20,148.41 per ounce of gold! No wonder they can only guarantee the price for 7 days! They would lose their shirts if gold should skyrocket! Of course, there are other materials and expenses involved in striking the coins. Report this Post to the Staff

twincam_04 Valued Member United States 420 Posts	Posted 07/03/2010 02:39 am dude, you got a LOT of toes... Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 07/03/2010 03:01 am Quote: There are 28,349.5231 mg in one ounce. At 14 mg per coin is 2024.966 coins. At $9.95 each, that calculates to $20,148.41 per ounce of gold! Ready to re-do your math? Remember precious metals use troy ounces, so there's actually 31,103.4 mg in one troy ounce. ANA #R3154474 Report this Post to the Staff
Tim Stroud Pillar of the Community United States 2661 Posts	Posted 07/03/2010 09:52 am Quote: dude, you got a LOT of toes... Quote: I decided to pro-rate this on a per ounce basis and took off my socks (there was no way I was going to be able to do this with just my fingers). Thanks for the laughs guys. Report this Post to the Staff
Scooby Due Pillar of the Community United States 4000 Posts	Posted 07/03/2010 12:53 pm Quote: Remember precious metals use troy ounces, so there's actually 31,103.4 mg in one troy ounce. DOH! Report this Post to the Staff
omahaorange Valued Member United States 294 Posts	Posted 07/03/2010 1:04 pm Did they cut the gold down when they dropped the price? At $19.95 each they were clad in 31 mg of gold. At the time worked out to about a buck and a quarter per coin of gold. Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 07/03/2010 4:10 pm Quote: The one where they can only guarantee the price for 7 days for at least a year now. Speaking of math, how can someone guarantee the price for 7 days for at least a year? Isn't a year more than 7 days? Report this Post to the Staff
	Replies: 6 / Views: 2,443

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