Coin and Paper Money Collecting/Gold in Liberty eagle

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Expert: - 12/29/2008


Question
I am trying to figure the gold content of a Liberty half eagle.  I have found that there is 8.359 grams in the coin.  There are 454 grams in a pound and 28.375 grams in an ounce.  If I divide the 8.359 grams by 28.375 grams I get .295 oz, multiply by 90% gold, I get .265 oz.  However, everything I read says a half eagle has .24187 oz. of gold.  What am I missing?

Answer
Hi Jerry,

It's simple.  Precious Metals are weighed in TROY WEIGHT.

There are 32.15 grams in a troy ounce.  The tricky part is there are only 12 troy oz in a troy pound.

That said, The older US Gold coins were:
$20 Dbl Eagle .9675 oz
$10 Eagle   .48375 oz
$5 Half Eagle    .24187
$2.50   .12094
$1      .04837

I hope this helped.

Happy New Year!
Regards
Joe Hylas
www.AllCoins.US

Coin and Paper Money Collecting

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Joe Hylas

Expertise

Numismatic professional with over 30 years experience can answer your questions about US coins, their values, how best to sell them and where to buy them. Interested in starting a collection? Find out which areas are undervalued and how to acquire those coins at the best price.

Experience

Ex-Head Precious Metals trader for Deak-Perera International with 42 offices worldwide. Industry experience since 1978. Has worked co-operatively with US Mint, Royal Canadian Mint, Austrian Mint, Chamber of Mines of South Africa, World Gold Council and Platinum Guild International. Professioanl numismatist specializing in US Coins. Always buying collections, will travel if size of collection warrants. Website: www.AllCoins.US

Organizations
PCGS, NGC, Rotary

Publications
Physician's Money Digest

Education/Credentials
Bachelor's Degree in Business Administration

Awards and Honors
Paul Harris Fellow

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