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Posts Tagged ‘american buffalo’

How much is 14 milligrams of gold or silver worth?

OK, you’ve probably seen a few commemorative coins that are “clad ” in 14 milligrams of pure gold or 14 milligrams of pure silver.  They generally sell for 10 to 30 dollars.  So lets see how much the gold or silver is worth (as of January 2, 2011)

14 mg = 0.0004501 ounces

Price of gold = $1416.20 per ounce

0.0004501 x 1416.20 = 0.63743162

So that’s $0.64 worth of gold.  Sixty-four cents.

Price of silver = $30.91 per ounce

0.0004501 x 30.91 = 0.013912591

So that’s less than 2¢ worth of silver.  Two cents.

Buyer beware!