Dillon Gage Metals, one of the world’s largest precious metals wholesaler firms, is ready to provide an explanation to a hypothetical question that will be on people’s minds in the near future. What is the rough value of an imaginary “solid gold” Oscar to be given away next month at the 90th Annual Academy Awards?
When the question is raised, the answer is frequently based on the actual weight of the statuette. However, that will not add up to the correct value since the metal that an Oscar is comprised of is far less dense than gold.
The best way to estimate the cost is to determine how much gold it takes to fill the volume of the 13.5-inch tall award. The statuettes weigh 8.5 pounds and are comprised of a pewter-like alloy called Britannia metal, which is 92 percent tin, 6 percent antimony and 2 percent copper.
To simplify determining the approximate value and weight of a solid gold Oscar, we will base our calculations on the cubic centimeters of 8.5 pounds of tin, since that is the statuette’s primary weight.
The weight-to-volume calculator shows 8.5 pounds of tin (the weight of the Oscar) = 530.70 cubic centimeters.
Next, one determines the amount of gold needed to fill 530.70 cc. One pound of 24K gold = 23.52cc.
530.70/23.52 = 22.57 pounds of gold.
Calculating mass, there are 14.5833 troy ounces for each pound of gold.
Thus, 22.57 x 14.58 = 329.07 troy ounces.
Next, multiply 329.07 troy ounces against the spot price of gold—currently $1,335 per ounce (mean average lately). Thus, a “solid gold” Oscar statuette would be worth $439,308.45!
In reality, the prized gold-plated statuettes are valued around $400 each. Of course, ask anyone who has won the Oscar, and they’ll likely tell you the value to them is “priceless”.
For more information on Dillon Gage Metals, call 800-375-4653 or go to www.dillongage.com.
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About Dillon Gage Metals
Dillon Gage Inc. of Dallas (founded in 1976) companies include:
• Dillon Gage Metals one of the world’s largest precious metals wholesale trading firms. The firm is an authorized purchaser for all major world mints and maintains inventory in over 20 countries around the world. Additionally, the company provides advanced tools and technologies that enable market participants to be more successful in their businesses, allowing electronic trading and offering cloud-based solutions for the physical precious metals marketplace. 800-375-4653.
• FizTrade Online Trading offers a real-time bid/ask trading platform for gold, silver, platinum and palladium. 800-375-4653
• Dillon Gage Refining, professional assayers and refiners of precious metal scrap, from low grade to karat scrap. Stone removal services and diamond experts on staff. 888-436-3489
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