Featured Image: Mackay NecklaceCredit: Boucheron / Public Domain As you all know, we are huge fans of the storied jewelry houses which have been creating haute joaillerie since before many of us were born. One of those houses is known as Boucheron and has amassed many fans throughout the world. Although Boucheron may […]
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Do you think you have to be a chemist to understand how gold transforms from a “rock” in the ground into the American Eagle you hold in your hand? Think again!
We’ll walk you through how gold is refined and processed and highlight the key role that the U.S. Mint plays in producing some of the world’s most sought-after gold coins.
Here’s a little bit of a science lesson. There are not one but two common processes for refining gold: the Miller process and the Wohlwill process. Other less common methods are cupellation, inquartation and parting, fizzer cell, aqua regia, and the pyrometallurgical process.
According to the World Gold Council, the Miller process uses gaseous chlorine to extract impurities when gold is at its melting point. Impurities separate into a layer on the surface of the molten purified gold. While the Miller process “is rapid and simple,” the Council notes, it produces gold that’s only about 99.95-percent pure.
The Wohlwill process, however, boosts purity to 99.99 percent through electrolysis. In this process, a casting of impure gold is dropped into an electrolyte solution of hydrochloric acid and gold chloride.
“Under the influence of an electric current, the gold migrates to a negatively charged electrode (cathode), where it is restored to a highly pure metallic state, leaving the impurities as a separate solution or residue,” the World Gold Council reports.
So how does gold go from being processed to becoming a coin? Here, we look at the process used by the U.S. Mint.
Once gold reaches the desired purity, the metal is cast into an ingot, according to The Spruce Crafts website. These large metal bars contain the amount of gold required by a mint. An ingot is rolled into the proper thickness as a sheet of metal before the rest of the process can take place.
The sheets of metal are then wound into giant coils. Each coil is fed through a blanking press, which punches out round disks called blanks. The blanks are fed into hydraulic coining presses that automatically feed the blanks into the coining machine. At full capacity, the machine can produce more than 600 coins per minute.
Next, the blanks are heated in an annealing furnace to soften the metal. Then they’re washed and dried. A machine called an upsetting mill puts a rim around the edge of the blanks.
After that, the design and lettering are added in a process called striking. The blanks pass through a coining press, which applies the images, currency amount, and mottoes onto both sides. At that point, the blanks become coins.
“Produced and sold for collectors, gold coins [made] by the U.S. Mint are beautiful pieces of art in precious metal,” the Mint writes.
Gold coins are made in proof and uncirculated finishes, ranging from one-tenth of an ounce to one ounce and 22 to 24 karats. The Mint’s gold coins include varieties of the Gold American Eagle, Gold American Buffalo, and more.
At U.S. Money Reserve, we specialize in offering gold coins that are in perfect and near-perfect condition—allowing for full appreciation of the beauty and purity of natural gold. Call 1-844-307-1589 today for live pricing on this high-quality inventory.
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Kitco News
(Kitco News) – Higher gold prices and improving investor sentiment wasn’t enough to counter fears of the spreading coronavirus as attendance at the world’s biggest mining conference dropped from the previous year.
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Silver Price Forecast: XAG/USD May Enjoy Boost from Lower Rates DailyFX
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(Kitco News) – Gold prices may be struggling the day after the Federal Reserve’s emergency 50-basis-point cut, but according to one market analyst, if history is indication, the yellow metal has plenty of upside.
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Yahoo! Finance: SI=F News
Based on the early price action and the current price at 26722, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Wednesday is likely to be determined by trader reaction to a downtrending Gann angle at 26215 and an uptrending Gann angle at 26211.
The post E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Upside Target Remains 27109 – 27683 appeared first on WorldSilverNews.
Kitco News
(Kitco News) – Citing coronavirus fears, De Beers announced Wednesday that rough diamond sales were $355 million, down 40% from the same period a year ago.
The post De Beers rough diamond sales are, well, rough appeared first on WorldSilverNews.
For the past several weeks the gold-silver ratio has stayed around 86-88:1. Since the coronavirus outbreak though, the gold-silver ratio has rocketed to a new record of 95:1.
This is so far out of whack from the historical ratio of 54:1, that silver is on sale.
Ahead of the Herd
On Monday
