“I understand there are additional costs”… Do you?
The materials for the cent is peanuts compared to everything else.
Here we go again – the Mint shenanigan narrative is back.

How much does it cost to package the cents, how about the production of dozens of dies, maintaining the myriad of equipment from start to finish and paying the water & electric bills? That’s right, the Mint washes & rinses billions of cents. I could go on and on, and I haven’t’ even mentioned the associated costs for the humans in the shops, offices, and in DC….

I am expecting every bar weight recorded……I am more concerned by some who think a complete audit requires assaying every bar…..

The next question concerning the Fort Knox inventory. Will it strictly be the counting of bullion bars only or will it be an attempt to carefully weigh everything?

I’m hoping for straight crosses on both, and if one misses the cut, so be it.
The nice toner wins, or the ugly toner wins, or both cross? We’ll see!

Thanks for your feedback J…

Here pictured was a good cross from last year, and I waived the min grade option(my unsafe selection), yikes.
However, the Morgan had a Gold Bean, and I knew it would upgrade…

Thanks for your feedback Cali!

That’s two successful cross bids(you & E1) for the ’64-D, zilch for the lowly 68-D, boo-hoo!
Mushy & marked up shield, off center strike, and a tight lipped eagle beak on the ’68-D – who’s counting haha!?

Well, lucky for me, if either the ’68-D or the ’64-D DNC(Did Not Cross), I’m good, and I’m covered. Losing just the “+” alone on the top pop ’68-D MS67+ would cost dearly. Approx 75% of value is lost if I lose the “+” (PCGS & NGC price guides). 75% equates to a potential $3400 drop in value if the “+” is dropped on the ’68-D MS67+. Wow, and not good. It ain’t gonna to happen!

When crossing from one TPG to the other you have options to protect & preserve the current grade as holdered (my safe selection). You have the option to enter a minimum grade to cross, and I chose the current grade as holdered by NGC.
If they agree with the grade on the NGC holder while still holdered, they’ll crack it out and slab-er-up fresh with the same grade as before.
If they don’t agree with the grade on the NGC holder while still holdered, they’ll send it back untouched, so to speak.
https://www.pcgs.com/crossover

Here’s a pic of a couple of “DNC’s” from last year ⇊, boo-hoo!

Sharks2th,

I am sure the Metrology Group at Ft. Knox knows the difference. However, I am just curious for myself as to which weight standard they actually use and accept. IMHO, for international exchange reasons, SI Units (Kilograms or Metric Tons) should be used across the board, especially since the US purposively converted to the Metric System in 1975. However, some legacy practices may have remained behind.

1 Metric Ton = 32,000 ounces is close enough for the purpose of this discussion. It does leave a delta of 150 ounces per ton or $0.50M/ton @ $107.2M/ton or a percent difference of 0.5% or half of a percent.

I think we may have gone to the same school. The one that likes to split hairs.

Cheers

Shark: thanks for the precise measurements and their corresponding terminology. I’m sure the proper definitions will be utilized if any physical audit of Ft Knox gold is ever conducted.

Below is some clarification on the measuring units for the gold reserves since they are shown in metric tons. I’m sure there are some new collectors who should be made aware of the numerous measuring systems.

1 English (long ton) weighs 2,240 pounds. 1 US (short ton) weighs 2,000 pounds.

1 Metric ton weighs 2,204.62 pounds. This is 1,000 kilograms. 1 Metric ton contains 32,150.7465686 troy ounces.

1 metric ton weighs 1000×1000=1,000,000 grams ÷ 31.1034768g (1 troy ounce) = 32,150.7465686 troy ounces in a metric ton.

As a side note, there are 12 troy ounces in a troy pound. A troy pound is 373.2417216 grams.

The avoirdupois ounce (28.349523125g) is 1⁄16 avoirdupois pound. It is primarily used in the US. Although the avoirdupois ounce is the mass measure used for most US measurements, the troy ounce (31.1034768g) is used for the mass of precious metals such as gold, silver, platinum, palladium, rhodium, etc.

You have to be very careful of your measuring units if you’re measuring/buying/selling gold. Grams/kilograms is the best way to be consistent. I hope our federal gatekeepers/statisticians at Fort Knox know the difference when they do their inventory.  

I like your style here E1, straight to the point, and no messin around!

I’m perfectly fine with that analysis, I’ll take the ’64-D as a cross any day.

Maybe the coin grader was a stamp grader at some point. Win some, lose some…
Thanks for the feedback!