Posted 14 years ago
jsw14
(120 items)
This is a Tribute to the 1929 $5 Gold piece. It's only 10mil gold & the rest clad. Only 2,250 were made in Proof condition. This is # 1133. From my Dads Estate..... See pic #4...... I don't know my mill's.......How many mill's is a Full Gold coin? Thanks for lookin!
I always feel bad when I answer questions like this.
The good news is that the 24k refers to pure gold. The bad news is that mil is a term companies use when they are referring to things like gold plating or paper thickness. A mil is equal to 1/1000th of an inch. Since yours is 10 mils, it's equal to 10/1000th of an inch. To put that in perspective, its about twice the thickness of the paper that's currently in my printer.
But knowing the thickness of the gold plating doesn't really help you with determining the value of the gold on the coin, for that you need the weight. 10 MIL on a small coin is worth less than 10 MIL on a large coin.
In your case, the National Collectors Mint says that your replica is 13mg 24KT pure gold over bronze. So that 10 MIL adds up to a total of 13mg of gold. With that, we can easily figure out the value of the gold.
After doing some calculating, your coin has 0.000417959705 troy ounces of gold plating on it. At $1,400 an ounce, that would mean your coin has less than 68 cents worth of gold in it. Unfortunately, I'm not joking.
If you want to know how to do the calculations yourself you can find out how at: http://acdwyer.com/calcgold_pg1.aspx . I use the example of a National Collector's Mint World Trade Center medallion which has a total of 15mg of gold plating.
Naaah, Don't feel bad AC.... I thought it was only a Pinch of gold. WoooHooo 68 cents. If gold was at 300 a ounce I might have 2 cents too rub together.....LOL I will save the link. Thank you for the info & your time AC........