What is 14 milligrams (mg) of gold worth? I am considering purchasing some Buffalo tribute coins that are clad in 14 mgs of pure 24 kt. Gold and want to know what this gold is worth. – Thanks from Julie in Chicago, Illinois.
Hi Julie,
Gold is measured in troy ounces. When you see the daily price of gold, you are mostly likely seeing the price per troy ounce. This can be confusing when you are working with other units of measurement.
Here are some quick conversions to give you an idea about how much a troy ounce is in comparison to other units of measurement.
1 gram = 0.0321507466 troy ounces
1 milligram = 0.001 grams
1 milligram = 0.0000321507465686 troy ounces
14 milligrams = .0004494 troy ounces
Now that we have done the correct conversion, let’s talk money! Today (8-3-2011) the price of gold is at $1,637.50 USD per troy ounce.*
1 troy ounce of pure gold = $1,637.50 USD*
1 gram of pure gold = $52.65*
1 milligram of pure gold = $0.05*
14 milligrams of pure gold = $0.74*
As you can tell, 14 milligrams of gold is small. Plus these coins are clad (or covered) in gold and not made from solid gold, so it is not like we could even refine this small amout of gold from these tribute coins.
See more information on the Gold Buffalo Nickel Tribute Proof.
*Prices given reflect the price of gold when this blog post was written. Gold price may or may not be the actual current price of gold.
12 comments
I have been buying a collection of .9999 pure gold coins fromthe History Channel Club. At present I have 12 coins, plus one commemorating the civil war that is larger it has a number on the back 401. What if any value are these coins?
It ain’t worth spit maybe I can trick someone on the street to pay you like 30 or 40 and tell them it’s worth 50 like the commercial says but then would be no better than those con artist so where ever your moral values lie follow you heart.
Tim, your coins all depend on the actual gold weight. If pure solid gold, then they will have typical gold weight value. If they are simply plated coins, then they most likely only have $0.50-2.00 at most of actual gold worth.
It’s not worth anywhere near the price of shipping alone.
14 kt gold is not 100% pure gold, 28 kt is.
Caveat Emptor
These coins are worth squat i have had the 4 i bought for my kids checked by a proffesional and he said i got ripped off and paid to much for what the coins are worth and also s&h carges was more than the coins are worth. Needless to say i wont do this again
People are always asking what they can get out of those coins sold on tv. The answer is…hardly anything. Do you really think that they would be selling these coins under (way under) what the usb worth would be, no matter what day or week it is?! Fact of the matter is this. They make it sound like a solid gold coin. They’re NOT. They are indeed the term that they use on these commercials, “clad”. Which means plated or covered. So that makes the gold content worth anywhere from .05¢ to .50¢.
Where could I buy 10mg of gold?
How is this Buffalo coin scam still being aired on TV it’s a total rip-off for the poor idiots out there thinking it’s solid gold. I came up with a current value of $0.57596 and they sell it for $9.95 plus s&h. Why/How can this scam slip past the BBB…
Clad is hard to remove from the nickel or zinc, etc. core so it really worth less after refining cost….I can’t believe this crap.
Hell my 2cents is worth like 57 dollars in change no logic in that ether.
Not at all worth it?)$$(.$&@&(,$&
I recently won a 22 inch rope chaining a raffle it says 14KGP ON IT WHAT DOES IT MEAN PLEASE
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