I Found a $4,000 Gold Coin in My Kitchen!
30sThe shock of finding a valuable gold coin in a mundane place hooks viewers, and the quick math from spot price to melt value is educational.
▶ Play ClipAI Summary
The video documents a person finding a 1920 $20 gold Liberty coin in a kitchen drawer and taking it to a coin dealer to determine its value and sell it. The dealer explains the coin's gold content, melt value, and offers a price based on the current spot price of gold.
Chapters
[00:04]
Coin Identification
The coin is identified as a 1920 $20 gold Liberty coin, minted from 1850 to 1907.
[00:17]
Gold Content and Melt Value
The coin contains 0.9675 ounces of gold. With spot price at $4145, the melt value is $4010.
[00:30]
Dealer Offer
The dealer offers $4000 as a 'bro price', slightly below melt value.
[00:43]
Historical Fact
In 1900, a $20 bill could be exchanged for this coin, highlighting its face value equivalence.
[00:56]
Sale Completed
The seller accepts the $4000 cash offer, completing the transaction.
The video demonstrates a straightforward coin sale, emphasizing the importance of knowing the gold content and spot price when selling gold coins.
Mentioned in this Video
Study Flashcards (5)
What is the gold content of a 1920 $20 gold Liberty coin?
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What is the gold content of a 1920 $20 gold Liberty coin?
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0.9675 ounces of gold.
00:17
What was the spot price of gold mentioned in the video?
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What was the spot price of gold mentioned in the video?
easy
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$4145 per ounce.
00:17
What was the melt value of the coin?
easy
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What was the melt value of the coin?
easy
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$4010.
00:17
What price did the dealer offer for the coin?
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What price did the dealer offer for the coin?
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$4000.
00:30
In what year could a $20 bill be exchanged for this coin?
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In what year could a $20 bill be exchanged for this coin?
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1900.
00:43
💡 Key Takeaways
📊
Gold Content and Melt Value
Provides the key financial figures that determine the coin's value.
00:17
💡
Dealer Offer
Shows the negotiation and final price, illustrating the spread between melt and offer.
00:30
📊
Historical Fact
Adds context about the coin's face value equivalence in 1900.
00:43Full Transcript
[00:04] found in my kitchen drawer. What's it worth? And can I sell it today? >> Okay, wow. This is cool. This is a 1920 dollar gold liberty. So, they made these dollar gold liberty. So, they made these coins from 1850 till 1907.
[00:17] This coin actually contains 0.9675 of an ounce of gold in it. So, they trade right around there. So, spot price right now is 4145 here. So, right now this melts for 4,010
[00:30] bucks. You're Humphrey. Give you the bro price. $4,000 even. >> bro price at Witter Coin gets me $4,000 for that coin I found in my kitchen drawer. And uh is there anything else I should know about that coin before I
[00:43] just sell it to you for money? >> Back in 1900 they used to make bills, like $20 notes. You could actually change a $20 bill in for this coin. So, interesting fact. [music] >> In terms of cash, do you actually have
[00:56] 4K in cash or do you Okay. I'll take it. >> Okay, cool. Sweet. 1 2 3 4 5
