You’ve doubtless heard that “all that glitters is not gold,” but did you know that even things called gold may not be pure gold? Or gold at all. Let’s take a look at the various gold coin metals, including pure gold and more.
Alloyed Gold
Pure gold has a distinctive reddish-yellow color. 100% gold is called 24-karat gold, so all alloyed golds are less than pure. 18K (75%), 14K (58%), and 9K (38%) are common alloys found in jewelry, while gold coins are usually described by their actual purity.
Jewelry Golds
White gold is a malleable gold alloy with one or more other metals added to give it a white or silvery appearance. Nickel, manganese and palladium are the most common additives. White gold is described in karats.
Rose gold is a gold and copper alloy used in jewelry and artwork. It is also known as pink gold, red gold, and Russian gold, and is malleable.
Common mixtures for reddish alloys include:
- 18K Red gold: 75% gold, 25% copper
- 18K Rose gold: 75% gold, 22.25% copper, 2.75% silver
- 18K Pink gold: 75% gold, 20% copper, 5% silver
- 12K Red gold: 50% gold and 50% copper
Green gold was known as electrum in ancient Lydia and is a naturally-occurring alloy of silver and gold. Other alloys with copper, silver, and cadmium range from light to dark green. Green gold is particularly suited for enameling.
Gray gold is usually made from gold and palladium. A less expensivealloy is made by adding silver, manganese and copper rather than palladium.
Spangold is an alloy designed to produce a sparkling surface texture on cooling. It can range from yellow to pink, depending on the mixture of metals.
Other colors include blue and purple golds, brittle intermetallic compounds more typically used in manufacturing, although some are used as inlays in jewelry. Surface treatments such as oxides are also used to color gold.
Gold Coins
A bullion coin is one that is pure (99.9%) gold. These coins are rarely, if ever, minted for circulation since gold is a soft metal subject to heavy wear. They are made by mints world-wide and are legal tender but are made as collectible coins, principally for their bullion value.
“Real” gold coins are those made for circulation as currency. They include:
US and Foreign gold coins: These were widely made until the 1930s when the value of gold started exceeding the face value of the coins. Most US coins were 90% gold with 10% copper added as a hardener. Today, a $10 US gold eagle has nearly $600 worth of gold in it.
An experimental $4 gold coin called a “Stella” contained 86% gold,4% silver, and 10% copper. It was produced briefly in 1879 and 1880 and only 462 are known to have been made. If you find one, hang on to it; it could be worth up to $1.5 million dollars.
Territorial or Pioneer Gold refers to gold coins struck by private minters at gold camps and mines. One, called a “slug” was a $50 gold coin struck during the California gold rush. You had to trust whomever was selling them.
Not Really Gold
Goloid is a patented alloy of about 4% gold, 87% silver, and 9% copper. It was suggested as a metal for US coins in 1887 by its inventor, but was rejected because it was indistinguishable from cheaper silver coins.
Racketeer nickels were gold-plated 1883 Liberty Head nickels that were passed off as $5 gold coins to unsuspecting persons.
Abyssinian Gold is a type of brass made of 90-percent copper and 10-percent zinc that has a gold-like color, but contains no gold.
Golden dollar is a term used by the U.S. Mint to describe the small dollar coins produced since 2000. Theyare gold-colored but are made from a magnesium alloy. Not gold.
Collecting coins and currency is a fascinating and rewarding hobby, but you need to know what you’re buying and choose a dealer you can trust.
The Great American Coin Company® offers a wide selection of collectible U.S. coins and paper money as well as currency from around the world. We keep adding unique collectibles as they become available, so be sure to visit us frequently. And while you’re there, be sure to visit our blog for interesting and timely articles about currency and precious metals.
