Gold coins come in a variety of sizes and weights to suit different investment needs and preferences.
Here’s a breakdown of common gold coin weights and sizes:
- Most popular: One troy ounce is the standard and most frequently encountered weight for gold coins.
- Examples: American Gold Eagle, Canadian Gold Maple Leaf, South African Krugerrand, and Austrian Philharmonic coins are all available in one-ounce sizes.
- Approximate weight: A one-ounce gold coin weighs approximately 31.103 grams.
- Approximate diameter: The diameter varies slightly depending on the coin, but for a 1 oz American Gold Eagle, it’s 32.70 mm (1.287 inches), and for a 1 oz Canadian Gold Maple Leaf, it’s 30 mm (1.181 inches).
- Smaller sizes: Many popular gold coin series also offer fractional sizes, typically including 1/2, 1/4, and 1/10 troy ounce denominations.
- Benefits: These smaller sizes allow investors to buy gold with a lower initial investment and offer more flexibility in diversifying their portfolio.
- Examples: You can find American Gold Eagle, Canadian Gold Maple Leaf, South African Krugerrand , and Austrian Philharmonic coins in fractional sizes.
- Premiums: It’s important to note that fractional gold coins generally come with a higher premium over the spot price of gold compared to full one-ounce coins.
- Smaller than fractional: Some gold coins are even smaller than the typical fractional sizes, like the Canadian Gold Maple Leaf , which is available in a 1-gram size.
- Large denominations: You can also find gold coins in larger denominations, including 5 oz, 10 oz, and even kilogram sizes. The Australian Nugget/Kangaroo, for example, comes in 1 kg and 10 oz weights.
- South African Krugerrand: This well-known gold coin has a unique composition of 22-karat gold, meaning it’s 91.67% gold and 8.33% copper. This makes it more durable than pure gold coins, but a one-ounce Krugerrand is slightly heavier than a pure one-ounce coin at 33.930 grams.
- Austrian Philharmonic: The 1-ounce Austrian Philharmonic coin boasts the largest diameter among all one-ounce, pure-gold coins globally, [according to Gold IRA Guide].
- British Britannia: Gold Britannias minted before 2013 were 22-carat gold and slightly heavier at 34.05 grams, while post-2013 Britannias are 24-carat gold with a weight of 31.104 grams (one troy ounce).
It is recommended to consider your investment goals, budget, and preferences when selecting the appropriate size and weight of gold coins.
What are the different sizes of gold coins?
From my experience, American Eagle Gold Bullion Coins are available in four sizes: one ounce, one-half ounce, one-quarter ounce, and one-tenth ounce.
Are gold coins oz or troy oz?
Gold coin ounces are coins measured in troy ounces (31.1 grams), the standard for precious metals, and the US Mint produces some of the most popular gold coins like the American Gold Eagle.