Australian Gold Pure

Australian Gold Pure

$1391.32 per ounce .. how much per gram?

For my science homework, I have to figure out how much the gold Australian coins would cost if they were pure gold.
I've figured out that (in Australian dollars) one ounce of gold costs 1391.32 dollars.. by finding that in US dollars it costs $904.5 per ounce, I changed that to Australian dollars by dividing it by 0.6501 (the exchange rate between the Australian and American dollar that I'm using).

Now, I need to figure out how to change that price to price per GRAM. How on earth do I do that ..

Here again: Gold costs AU$1391.32 per OUNCE
I want to know how much it would cost per GRAM.

If one ounce equals approx. 28 grams, would I multiply my price by 28?

Thanks so much, my science teacher refuses to help me -.-

Thanks again!! This will really help me!
I have to do it for the Silver coins too and it's SO annoying!
Anyway - help me, answer!
I will best answer

Monfri's got it almost right.

The mistake is that precious metals are measured in troy ounces, not avoirdupois ounces. There are 31.1 grams in one troy ouce, so you need to divide by 31.1, not 28.

One of the beauties of the metric system is that a gram is always a gram, but in the English-American system an ounce can be many things.

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Chinese Australian $78.07 High Quality Content by WIKIPEDIA articles A Chinese Australian is an Australian of Chinese heritage. In the 2006 Australian Census, 669,890 Australian residents identified themselves as having Chinese ancestry, either alone or with another ancestry. The early history of Chinese Australians had involved significant immigration from villages of the Pearl River Delta in Southern China. Less well known are the kind of society Chinese Australians came from, the families they left behind and what their intentions were in coming. Many Chinese were lured to Australia by the gold rush. (Since the mid19th century, Australia was dubbed the New Gold Mountain after the Gold Mountain of California in North America.) They sent money to their families in the villages, and regularly visited their families and retired to the village after many years, working as a market gardener, shopkeeper or cabinet maker. As with many overseas Chinese groups the world over, early Chinese immigrants to Australia established Chinatowns in several major cities, such as Sydney (Chinatown, Sydney), Brisbane (Chinatown, Brisbane) and Melbourne (Chinatown, Melbourne). Author: Miller, Frederic P./ Vandome, Agnes F./ McBrewster, John Binding Type: Paperback Number of Pages: 116 Publication Date: 2010/07/07 Language: English Dimensions: 6.00 x 9.00 x 0.28 inches

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Better Investment 50 dollar gold coin VS One ounce JM gold Bar

Whether you have a diversified portfolio of stocks and bonds, or you're just starting to think about setting aside something extra for the future, gold bullion is an invaluable tool for protecting your investments from the effects of recession. Many experts will tell you that the better investment is in bars of gold bullion like the JM gold bar, but there are several advantages to investing bullion in 50 dollar gold coin form coin  as well.

Gold bullion coins bring extra value to your gold by giving it more value than the weight of the metal itself -- they also have collectible value.  As an example, the Australian gold coin changes every year, and is certified to be 99.9% pure gold, just like American coins.  The limited print run and ever-changing face ensure that there will always be collectors looking for the years that they don't already have -- which easily drives the price above the weight-value of the gold bullion coin.  Purchasing such bullion coins also helps to ward off the potentially-devastating effects of a sudden fall in the price of gold, the coins will hold their value much more effectively than gold JM bar.

Similarly, having gold dollar coins provides recession protection simply by the virtue of being coins.  Every coin has a face value, so if you obtain a one-ounce with a face value of  50 dollar gold coin, on the improbably event that gold should drop to 20 dollars per ounce, you can still use the coin for it's face value of 50 dollars.  Bars of gold bullion don't have that fallback.  Conversely, if gold skyrockets to $4000 per ounce, you can absolutely sell the coin for $4000 at the minimum, just like you would with your JM gold bars.

It is important to note that some countries have or are in the process of implementing regulations about which precious metals and how much one may store in a retirement program -- so it's critical that you check with your lawyer regarding the scale and use of precious metals if you're using them as a retirement fund.  As an example, in the United States, only 99.9% pure gold may be used as any part of a self-directed IRA account.  This would keep some coins, such as the South African Krugerrand, from being able to be used in that role.

It's easy to see why investing in gold bullion is a good idea -- and hopefully, now you understand why keeping that bullion in coin form could be an even better investment.  Coins provide downside protection and offer a strong diversification to any portfolio.  In addition, gold is always in demand, so no matter what happens to your local currency, 50 dollar gold coin or a JM bar of gold bullion will always be able to be used to pay for the necessities, making ether gold coin or gold JM bar better investment.

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