gold double eagle coin
Another issue of conversion?
In 1933, the United States abandoned the gold standard internationally, and the price of gold rose from $ 20.00 to $ 35.00/troy The twentieth oz gold coin, known as the double eagle, weighing 33.436 grams of gold and was 90.0% by mass. (a) What was the value of the golden eagle before and after the price change? (b) How many pennies 2.00in3 could be made from gold (1 troy ounce .= 31,1 g, d = 19.3g/cm3 gold)?

The value of gold is its mass multiplied by price. We know that the mass of the coin, but only 90% of it was gold: the mass of gold in the currency = (33.436g * 0.9) = 30.0924g Now we also have to make this in troy ounces. mass of gold in the currency = 30.0924g / (31.1 g / oz) = 0.967601 troy ounces. Now we find the value of this gold long before the price change: Price = 0.967601 troy oz. * 20.00/troy Oz. = 19.35202 U.S. dollars rounded to three significant digits: $ 19.40 That’s what the twenty gold coin was worth before the price change. $ 19.40. Weird, huh? Anyway, after the price change, the U.S. was no longer on the gold standard. A currency is now worth what it said was worth, rather than the quantity of gold within the worthwhile. So a twenty gold coin worth …. exactly twenty dollars. Always and forever. This is a trick question, your classmates figure the value of gold after the price change, but that’s not what the question refers. Part B: You need know how much cubic centimeters cubic inches is 2.00: 1 in = 2.54 cm in 1 ^ 2 = 6.4516 cm ^ 2 1 ^ to 3 = 16.387064 cm ^ 3 2 ^ 3 = 32.774128 in cm ^ 3 The density of gold is 19.3g/cm ^ 3. Multiplying by the previous value, then: 19.3g/cm ^ 3 * 32.774128 cm ^ 3 = 632.5406704g. There are about 632.5 grams of 2 gold cubic inches. We know from part a) that an eagle of gold 30.0924g two uses. How many times can be cut 30.0924g gold 632.5406704g a block? 632.5406704g / 30.0924g = 21.0199476 ~ What little remains is probably due to rounding errors, so the answer is 21 coins.

3 $20 St. Gaudens Double Eagle Gold Coin MS 63



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