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
| | 1866 S US Gold NGC AU53 No Motto double eagle, rare key liberty coin $37,500.00 |
| | 6 GEM PCGS MS66 SAINT ST GAUDENS DOUBLE EAGLE GOLD COINS 1923-D & 1924-1928 $20,995.00 |
| | 1927 NGC GRADED MS67 SAINT ST GAUDENS DOUBLE EAGLE GOLD COIN CERTIFIED GEM $14,950.00 |
| | SUPER SCARCE 1923-D PCGS GRADED MS67 SAINT ST GAUDENS DOUBLE EAGLE GOLD COIN $13,750.00 |
| | HIGHEST GRADED 1928 SAINT NGC MS67 ST GAUDENS DOUBLE EAGLE GOLD COIN $13,500.00 |
| | SET OF 6 PCGS GRADED MS63 SAINT ST GAUDENS DOUBLE EAGLE GOLD COINS ALL OGH $12,949.00 |
| | 1854 LARGE DATE Liberty Gold Double Eagle – RARE BU MS Uncirculated Coin! $11,235.00 |
| | 1925-S Saint Gaudens Double Eagle Gold Coin-MS62- ULTRA RARE- pop.74 $10,950.00 |
| | RARE 1914-D PCGS GRADED MS66 SAINT ST GAUDENS DOUBLE EAGLE GOLD COIN DENVER $9,779.00 |
| | 1885 S, 1897 S, 1899 S, 1899 S, 1902 Double Eagle 20 $. Gold. (5 Coins) $9,500.00 |
| | 1908 Saint Gaudens Double Eagle Gold Coin “NO MOTTO” MS67 Unbelievable DEAL $8,575.00 |
| | 1922-S SAINT PCGS MS64 ST GAUDENS DOUBLE EAGLE GOLD COIN SAN FRANCISCO $8,550.00 |
| | SECURE PLUS 1908-D PCGS MS65 SAINT GAUDENS “NO MOTTO” DOUBLE EAGLE GOLD COIN $8,299.00 |
| | LOT OF(2) 2009 ULTRA HIGH RELIEF DOUBLE EAGLE GOLD COIN RARE!! 99.99 FOR(2) $7,999.99 |
| | GEM 1910-S PCGS GRADED MS65 SAINT ST GAUDENS DOUBLE EAGLE GOLD COIN $7,699.00 |
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