How much is a 1998 $50 1 oz gold coin worth? 10pts?

i work at a grocery store and someone gave me a 1 oz fine gold coin that had 50$ written on it. how. it looked brand new. how much is it worth? and how do i know for sure that it is really real? thanks

a $50 gold piece that has not been graded, is worth its' weight in gold.

$50 is one ounce, and as of last Friday, an ounce of gold was at $923 an oz. But that is the buy amount, if you sold it at a dealer, they would give you a wholesale price for it so probably around $880 to $900

If you have it graded, the fee cost about $35 and it might add that much to the value, but since it is circulation, I would not bother with grading it.

Just to answer Tom K below. The US Mint began minting gold coins again in 1986. These coins are bullion coins and the $50 is a true 1 troy ounce coin. Since it is bullion, it priced on the price of gold, and a graded coin will bring a premium just as any other collected coin would.
http://www.usmint.gov/mint_programs/index.cfm?flash=yes&action=american_eagles



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Why does a 1 oz silver American eagle coin appear larger than a 1 oz gold American eagle?

Is the gold a more dense metal? Or is is simply an optical illusion and the thickness is actually greater on the gold coin?

It is not an optical illusion. Gold is the denser metal, as you correctly suspect. Therefore, when comparing coins of the same weight of gold and silver, the gold coin will be the smaller in size.

Besides, gold coins are just fascinating to collect!


if i gave you either a 1 oz gold coin or 1000$ and told you you had to sit on it 5 years?

Which would you choose

One ounce of gold may go up in value, but it wont reach $1000.


Is this a good price for 1-oz. Krugerrand gold coin?

I have the opportunity to buy a 1-oz. Krugerrand gold coin for $814.90. Do you think that this is a fair price? If not, what would be a fair price for this coin?
Thanks.
Thanks for responding already.
Thanks for replying, Cosmo.

No - I purchase 1 oz Gold Krugerrand coins from my local coin dealer at below melt value (current melt is about $755 per oz)...so I'd say that $750 - $760 would be a fair price (based on melt being $755). I certainly wouldn't pay $814.90 - unless it was say a 1971 proof (mintage of 6000) - you can buy Krugerrand coins all day long at www.apmex.com for a slight premium (currently they are for sale at about $7.95 over melt on this website) - you should be able to purchase these coins even cheaper than this from a dealer though (and avoid the shipping fee). Keep in mind that unless you purchase a coin that has a limited mintage, the Krugerrand coins are unlikely to increase about melt value in the future - although this might sill be a good return over 3-4 years :)


How is the fastest way to sell gold-Canada Gold Maple 1 oz.coin, not online. Do banks exchange them?

I have no bank account-does ebay wire $. It is a precious metal in currency form, bank?

Banks in the US won't exchange them because it is not circulating money from Canada.

If you're in Canada they would exchange but only for $50.

Like others said a jeweler is the fastest, they'll weight and test it and give you 90% of it's value about $530.


If I have a 1-oz Gold Eagle coin, and it isn't in very good condition, is it still worth the price of gold?

Or would it be worth less? Does it have to be in mint condition to be worth the spot price?

Thanks

The listed spot price is for bullion grade coins - specifically those that have no value as collectibles. Unless the coin is missing mass (has been bovertly clipped or shaved), it will be worth the spot price - less the dealer's commission, of course.


How much is a 1 oz. gold krugerrand coin worth right now?

Or where is a source to find the price of 1 oz. of gold?

Friday you could buy one for about $874, and sell it for a little less. The price changes constantly.


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