How much is my gold coin worth, asked John
|Common Gold Coins||How much this coin is worth|
|Image||$5 Indian Head Gold, .900 gold, 0.2419 oz, you can sell this $5 gold coin for $274.6|
|Image||$10 Liberty Gold Eagle, .900 gold, 0.4838 oz, you can sell this $10 gold coin for $549.2|
|Image||$20 Liberty Gold Double Eagle, .900 gold, 0.9675 oz, you can sell this $20 gold coin for $1,098.3|
|Image||Buffalo Gold Coins: sell 1 oz for $1,063.0, 1/2 oz for $531.5, 1/4 oz for $265.7 or 1/10 oz for $106.3|
How much is my gold coin worth, asked John
Hi Alex, I’m John. I would like to know how much my gold coin is worth? I’ve bought this Eagle gold coin in the late 80’s but I don’ know how much it is worth today? Please let me know how much I can expect for this nice bullion coin. I would like to sell it because I need some extra cash. Thank you!
John from Seattle in Washington
Hi John! Nice to meet you. Thank you very much for contacting me. It’s my pleasure to determine the value of your gold coin. I received your email and I’m happy to assist you with your concern. To determine the value of a gold coin I need to know some facts, but let’s make this evaluation together. That way I can tell you this and that about gold coins.
reDollar appraiser, Alex Fordham
John wants to know, how much is my gold coin worth
John: Hi Alex! Thanks for getting back to me so quickly. In your initial email you asked me for more information of my gold coin. What details should I provide you with?
Alex: Hello John! Good to hear you. Yes, that’s right. I requested some extra information. You mentioned that you would like to sell an Eagle gold coin, is that right? Before we proceed, please send me a photo of your gold coin. Also if you have any certifications please also make a photo of them.
John: Done! I have sent you a photograph of my Eagle gold coin as well the certification what belongs to the coin.
Alex: Thanks a lot John! I have just received your message. Now it’s much easier for me to find out how much your gold coin is worth. I see that you have an American gold Eagle from 1987. American gold Eagles were offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations. In your case you have a 1 oz gold coin. That’s fantastic because the 1 oz American gold Eagle has the highest value. To proof the authenticity of your gold Eagle, could you please weigh the coin?
John: Do you think this is necessary Alex? I mean the coin is marked as “1 oz” so the weight should be 1 oz to guarantee the authenticity, right?
Alex: You are half right. Your American Eagle gold coin is in fact marked as “1 oz” but the coin is made of 916 gold, that means the coin has purity of .9167 or better said a purity of 91,67 %. The coin itself contains a troy ounce of pure gold which has a purity of 99,95%, that means your American Eagle contains 1 ounce of 24K gold. But the main material is .9167 gold. That means the gross weight of your gold coin must be heavier than 1 oz. Can you follow me?
John: Yes, I think I can follow you. I thought my gold coin is made of pure gold. But I was not aware of the different alloys or purities. That sounds confusing to me as a layman.
Alex: Yes I agree entirely. It is a bit confusing. But as soon as you have understood the principle you will see, it’s easy to understand the coin’s composition.
John: I found out the weight of the coin. I’m not sure how exact my result is, but I hope it is fine. I weighed up the gold coin with my wife’s kitchen scale. The weight is 33,93 grams or 1.09 troy oz, what do you think?
Alex: That’s fantastic. This is the correct weight for such an authentic coin. You can see now, the gross weight is higher than the net weight of one ounce, just because the gold coin is not made of pure gold, we remember it’s made of .9167 gold. Summarized it can be said the pure gold content is 1 oz (as marked on the coin) but the coin has a gross weight of 1.0909 oz. Let’s continue with the certificates. I saw on your photos your gold coin also has an NGC certificate and is graded as MS 69. NGC means Numismatic Guaranty Corporation and is a multinational coin grading service provider. They are based in Sarasota, Florida. So we can be sure your gold coin is an authentic American gold Eagle.
John: That’s good to know. But how much is my gold coin worth?
Alex: I estimate the value of your American Eagle with $1,265.20
John: Wow that’s the price for this coin only? I’m surprised. I’m sure I haven’t paid such a big amount back in the 80’s when I bought the coin from a coin dealer.
Alex: Well, the gold price was increasing heavily during the last 30 years. That’s why it’s very attractive to sell gold these days, which was bought many years before. The average gold price per ounce in 1987 was $446.10 and now we have a gold price per ounce of $1,242.60 so you can see the huge difference. I think for you, it’s a good deal to sell your gold now. You can make a good profit.
John: Yeah! That’s right. That’s what I’m going to do now. According to this great news, I will get stated now and will sell my gold Eagle. Thank you for answering my question “how much is my gold coin worth” so accurate and nice. For sure I will come back to you if I have any other questions.
Alex: Thank you so much for your compliment. I’m happy that you are satisfied with my advisory service.
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