Dallas, 02/26/2016 /SubmitPressRelease123/
Precious Metals Wholesaler Dillon Gage Metals Calculates a Price
Dillon Gage Metals, an international precious metals wholesaler, decided to calculate the actual value of a solid gold Oscar award. Which, sadly for the intended recipients, it isn’t. When coming up with the result, they sought the opinion of metallurgy experts in determining the parameters of the trophy and its corresponding value based on current gold prices.
Beginning with the dimensions of an Oscar award, they found that the statues are 13.5 inches high, each weighing 8.5 pounds. The statues are actually comprised of a pewter-like alloy called Britannia metal, which is 92 percent tin, six percent antimony and two percent copper.
To calculate the approximate value and weight of the Oscar if it were made of solid gold, one must determine the cubic centimeters (cc) of 8.5 pounds of tin, which is the primary metal. This comes to 531.25 cc. Next, one determines the amount of gold needed to fill 531.25 cc, which comes to 22.59 pounds of gold. Lastly, you have to determine how many troy ounces are in 22.59 pounds of gold and this answer is 520.39 troy ounces.
Now for the fun part. Multiplying 520.39 troy ounces against the spot price of gold, which has been doing quite well as of late! At approximately $1,200 per ounce (mean average lately), each Oscar statue would be worth $624,468.
“With the Oscar awards just around the corner, we thought calculating their worth in solid gold would be a fun little exercise—and it was,” said Terry Hanlon, president of Dillon Gage Metals. “It was eye-opening to see how valuable a solid gold version of an Oscar would be, but it’s nothing compared to being such a coveted achievement for the talented actors and actresses who win them.”
To sum it all up, a solid gold Oscar’s actual value is more than half a million dollars. But, as any previous recipient would tell you, winning one is utterly priceless. Enjoy the 88th Academy Awards Show this Sunday at 7:00 p.m. EST on ABC.
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About Dillon Gage Metals
Dillon Gage Inc. of Dallas (DillonGage.com), founded in 1976, companies include:
• Dillon Gage Metals (www.DillonGage.com/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. 800-375-4653
• FizTrade Online Trading (www.FizTrade.com) offers real-time bid/ask trading platform for gold, silver, platinum and palladium. 800-375-4653
• Digital Metals (www.DigitalMetals.com) delivers advanced tools and technologies that enable market participants to be more successful in their businesses. Digital Metals offers cloud-based solutions for physical precious metals marketplace built upon the Digital Metals Platform. 866-494-3577
• Dillon Gage Refining (www.dillongage.com/refining/why-dg), 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
• International Depository Services Group with locations in Delaware, USA (www.ids-delaware.com; 888-322-2431), and Ontario, Canada (www.idsofcanada.com; 855-362-2431), offers secure, efficient and insured precious metals and certified coin depositories that focus of custom business logistics solutions which include storage, fulfillment, inventory managements and many other value added services.
Contact:
Jeffrey Cheatham
Senior Account Manager
TrizCom PR
(972) 247-1369
Jo Trizila
President
TrizCom PR
(972) 247-1369
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