One Tonne Gold Coin

With the recent ton vs tonne debate, here it is: the ultimate gold
coin. 1000Kg of 99.99% pure gold.
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1000Kg = 2200 lbs.
2200 lbs. x 16 oz./lb. = 35,200 oz.
Gold is currently $1745 US per oz.
Coin is worth $61,424,000 US
I am sure, since this coin is so large, it is for all practical uses
valueless. So if you Aussie guys are looking to get rid of this
albatross, you may feel free to drop ship it to my house.
Dave
Reply to
dav1936531
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OOOPS!!!! Gold is measured in avoirdupois units. There are 12 ounces per pound. Go figure again!
Paul
Reply to
Paul Drahn
Still wrong. Gold is measured in Troy units There are 31.1035 grams to the Troy oz 32150.7225 Troy oz coin $56,103,015 US
Paul K. Dickman
Reply to
Paul K. Dickman
It is interesting to note how small it is, for one ton of weight. Gold is so dense.
i
Reply to
Ignoramus8791
Hmmmm......so there is some confusion about how to value this thing (me not an expert in the gold biz). I tried to tell them Aussies, it's worthless. Send it to me....right away. I'll even pay shipping. Dave
Reply to
dav1936531
Yeah, OK, but (obligatory metalworking content) it's just a disk unless it was shaped by die pressure (coined). So, it's not really a coin, unless one of those stamp-out-tank-turret bits of heavy machinery was employed to shape it, against a carefully sculpted reverse-carved die.
Reply to
whit3rd
I would Dave, but it won't fit im my tinnie. ( that's Aussie for aluminium row boat)
Reply to
Grumpy
I would Dave, but its too heavy for my tinnie. That's Strine ( Australian) for alluminium row boat)
Reply to
Grumpy
I'm curious as to why, for a 1-off, they went to the trouble & expense of a steel mould. Why not lost wax, for example? I know it would have been a challenge supporting it, but wouldn't it have still been easier/cheaper that that HUGE steel mould?
Bob
Reply to
Bob Engelhardt
If the rest of the English speaking world cuts Oz some slack, speaking Strine will allow you to keep your probationary status as a member of the English speaking countries. Too many additional funny words for things, and your probation will be revoked. :)
BTW, I thought a "tinnie" was Strine for a can of beer. I would be lost in Oz without some quick lessons in the local dialect. Dave
Reply to
dav1936531
I reckon we used to call them "tinnies" 30+ years ago - probably when the cans were steel.
Reply to
Dennis
Yep. Tinnie is also used for a beer. True Aussies prefer the beerincans as its easier to cool down quickly. If you have access to a buld propane truck a couple of squirts of liquid propane will cool a tinnie, but it will break a bottle.
Reply to
Grumpy
Ya, that's a fact. Too many good Aussie words have been lost. Kids spend all their time watching international television
Reply to
Grumpy
Why bother with converting from metric units? The current price of gold here in UK is £35.835/gm. 1000Kg is ,1000,000gms, so the amount of gold is worth £35,835,000. At the current exchange rate (today is 4 Dec 2011) that is $55,884,681.77
Reply to
lemel_man
Mostly because the price of gold as reported on the daily news is quoted in US dollars per troy ounce.
Maybe some day we'll have to convert from CNY (kuai) per gram, but not yet.
Type in 1000kg in troy oz into Google:
1000 kilograms = 32150.7466 troy oz
Gold price from kitco.com:
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US $/troy oz (halfway between bid & ask price) & we get 56,128,(772.4)
Google also says from 56128772.4 USD in GBP
35.9869029 million British pounds
Best regards, Spehro Pefhany
Reply to
Spehro Pefhany
Not lost, just in somewhat more disuse, ya silly sandgroper.
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Alive and well. (2 other links I had are now gone, proving my point.)
-- Self-development is a higher duty than self-sacrifice. -- Elizabeth Cady Stanton
Reply to
Larry Jaques
Good point it's a casting, so that would make it bullion, correct? A coin needs to be "coined" in a press.
Remove 333 to reply. Randy
Reply to
Randy333
That's a really interesting question, but the answer isn't that clear. "Coin" derives from a word for "wedge," and some sources say that the earliest stamping dies were wedge-shaped. This is a misreading; the fact is, the earliest coins were shaped like a bronze ax-head, which is where the "wedge" comes in.
The next step was flat coins with a stamped image of an ax-head struck into them. So striking, or stamping, became an accepted part of what a "coin" was.
Today, we have fully integrated the idea of stamping or striking into our definition of "coin" (the verb), but it is not a necessary part of "coin" (the noun).
Still, I think that most people would agree with you that this "coin" is not "coined," so it's not a "coin." Bullion (from "boiling") generally is just simple cast blocks or sticks, sometimes with a weight and/or a certifying stamp struck into it. So much of the bullion in the world is coined. d8-)
(metalworking trivia impulse "off")
Reply to
Ed Huntress
The video (as at ) appears to show handwork stippling, ie stamping small marks into the surface. See particularly and .
Some pictures selected from slide show at include: Edge machining with a router: The mold blanks: Obverse moldface: Reverse moldface: Both faces: Gold pouring: After pouring: Demolding:
Re pressure in mold, it would have been ca. 22 psi near most of the bottom edge of the mold (~ 31.5" diameter * 0.698 pounds/cubic inch) and ~ 28 psi in the bottom tab extension of the casting.
Reply to
James Waldby
That's actually a lot. What's the total force trying to push the mold halves apart? About (22/2)(Pi (31.2/2)^2)= 8,572 pounds, with max force at bottom and zero force at the top of the sprue.
Joe Gwinn
Reply to
Joseph Gwinn

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