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Token: US Ronald Reagan Mini Medals  1981 to 1985
Token: US Ronald Reagan Mini Medals 1981 to 1985

The trick with these tokens (or medals) is first figuring out what you've got, then finding out how much it weighs. If your piece is, in fact, 24 karat pure gold, and not some low-life counterfeit with gold plating, then the item is worth its weight in gold. If you have a full-sized, one troy ounce of gold medal, then it is worth a bundle. If you have a 'mini medal' made of 24 karat gold, then it's worth a few bucks. Here's the analysis:

1. Tokens with this pattern come in many variations. Some have date 1981, others have date 1985, still others have no date. Some have UNITED STATES OF AMERICA around the capitol dome, others omit this inscription. Some are marked 24kt (pure gold), other have an expression like ONE TROY OUNCE 0.9999 FINE GOLD (check the outside edge of the coin).

2. These are sold (usually) in blue boxes or holders with a Certificate of Authenticity. If the COA is from a reputable company, and if it says 'pure gold,' then the coin is probably pure gold. Take it to a jeweler and find out for sure.

3. These come in at least two sizes: a large, heavy coin weighing one troy ounce, and a tiny, tiny coin weighing about one-third of a gram. There may be other sizes. I have seen some advertised as one gram of gold. Again, a jeweler can tell you precisely.

Once your are convinced you have a pure gold piece, and once you know the weight, convert the weight to troy ounces. There are 31.1 grams in a troy ounce, so one-third grams is 1/3 divided by 31.1 = 0.0107 troy ounces.

Now look up the current price of gold (e.g., at kitco.com) and multiply. Today gold is selling at $1310 US dollars per troy ounce (look it up, tomorrow it will be different). A one-third gram coin will be worth 0.0107 x 1310 = $14 US dollars.

Finally, if you are not sure about the gold content, and if you do not know and trust the person you are buying from, DON'T BUY THE COIN. It could very well be worth zero.

Coin: 17550 , Genre: Tokens
Requested by: Allen Morgan, Fri, 08-Aug-2014 12:23:43 GMT
Answered by: Paul, Sat, 09-Aug-2014 00:22:16 GMT
Last review by CoinQuest: Wed, 17-Aug-2016 14:24:09 GMT
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Tue, 26-Sep-2017 03:33:41 GMT, unknown: 22281845