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Gold $$$$

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by

Jack Sapere

on 29 January 2013

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Transcript of Gold $$$$

Gold $$$$ By: Jack Sapere People know what gold is. However, the questions that many people ask are: "How much is gold worth?", "How do they weigh gold?", "How many ounces are in a pound of gold?", or "What is fool's gold?" Today, I am here to answer all of your questions. (Keep reading on to find out the answers to the above questions.) How Much Gold is Worth Today? As of January 25, 2013, one gram of gold is worth $53.28. A kilogram (kg) of gold is worth $53,286.64 as of the date stated before. The price of gold is affected everyday because of gold deposits, reserves and discoveries of gold, central back gold operations, and political developments. It is also affected by many other things as well. How Much Gold was Worth in the 1830's In the 1830's, gold worth a lot less than it is today. In 1830, gold was only worth $19. 1830 Today How to Weigh Gold If you want to weigh gold, it's not quite as simple as it sounds. This is because gold in the form of coins, bars, or jewelry is almost never 100% pure. A piece of pure gold is soft and can be damaged easily, so it is combined with other types of metal to make it hard and durable. However, it's easy to weigh gold once you know how to calculate the actual amount of gold an object contains. You will need a precision scale, a calculator (optional), and a magnifying glass (for some jewelry). How to Weigh Gold (cont.) Precious metals such as gold or silver are often sold by the troy ounce. A lot of people have no clue that an ounce of gold is weighed in a different weighing system called "troy ounce". A troy ounce is more than the typical ounce at the grocery store. In many English speaking countries there are two systems for measuring weight. The first one, for gold and other precious metals, is the troy ounce. The other is for Commodities such as sugar, grains, and the typical grocery items. It is called the "avoirdupois ounce". How Many Ounces Are in a Pound of Gold? Gold and other precious metals are usually weighed in the Troy weight system. The system that we (US) use is called the avoirdupois weight system. This is where sixteen ounces make up one pound. A pond is equal to 1.21528338 Troy pounds. One troy ounce of gold weighs 1.0971377 ounces. There are 12 Troy ounces in one Troy pound and only 0.822853347. On a side note, be extremely careful when you buy gold by the Ton to always know that both you and the seller are talking the same measurement short long or metric Ton. It could be an expensive error. Fool's Gold Pyrite is commonly called fool's gold because of its looks and similarities in color, shape, and habit of real gold. Back in the ol' mining days, Pyrite was confused with real gold often as they occur together, although gold and Pyrite can be very easily distinguished by simple observation and testing of characteristics. Fool's Gold Real Gold Summary of Prezi I hope that I answered all of your questions. I think that this Prezi helped you all a lot. You found out about the worth of gold, how to weigh it, the amount of "troy" ounces in a pound of gold, and what fool's gold is. I hope to see you all again. The End
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