Its a cob style coin with a modern imprint, really weird.
American Eagle coins are .9167 fine. or 22k, they contain one troy ounce of gold, that is 31.1 grams and not the 28.3
this is why they are marked as 1 ounce fine gold because they contain 1 troy ounce fine gold.
one must be careful when buying because if someone says they have an ounce of gold or silver etc. and you pay them based on the troy system you can take a hit by honest mistake as most people dont know the difference between a regular ounce and a troy ounce. This is why when you weigh an Eagle it ends up being some 33 grams+ and not 31.1 I am sure people have wondered why they have an extra 1/6th ounce of gold in there coin! LOL
here is one that will get ya.
a troy pound is 12 troy ounces. 373.2 grams
a regular pound is 16 ounces but 452.8 grams
So, not to get ya confused but a troy ounce is more than an ounce yet a troy pound is less than a pound. Then we have British money and we wont even go in to those pounds, but how many pounds for a pound?
I am sure people have made out like bandits confusing the heck of of people with these different measures. Or lost there shirts.
Sounds like this coin is nothing, I am going to melt it.