The weight of a gold coin can vary considerably, ranging from small fractions of a gram to entire kilograms.
However, the most popular and common weight for gold coins is one troy ounce.
Here’s a breakdown of common gold coin weights and important distinctions:
- Troy ounce: This is the standard unit of measurement for precious metals. One troy ounce is equivalent to approximately 31.103 grams. It’s about 10% heavier than a standard ounce (avoirdupois ounce). Many gold and silver bullion coins, like the Canadian Maple Leaf, American Gold Eagle, and Krugerrand, are measured in troy ounces.
- Fractional gold coins: These are coins that weigh less than one troy ounce. Common sizes include 1/2 oz, 1/4 oz, 1/10 oz, and even smaller denominations like 1/20 oz or 1 gram. Fractional gold coins are popular for investors on a budget but typically have higher premiums (markup over spot price) compared to full troy ounce coins.
- Other weights: Gold coins can also be measured in grams or kilograms. For example, some Australian Gold Kangaroo coins come in 2 oz and 1 kilo versions. The Chinese Mint switched to using the metric standard in 2016 for all its coinage, including many gold coins in gram weights.
- American Gold Eagle: Available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz denominations. Made with 22-karat gold (91.67% pure) and weighs slightly more than the stated gold content due to the addition of copper and silver for durability.
– 1 oz coin : 33.930 g or 1.0909 troy oz.
– 1/10 oz coin : 3.393 g or 0.1091 troy oz.
- Canadian Gold Maple Leaf: Made of .9999 fine (24-karat) gold and considered one of the purest official bullion coins worldwide. Available in 1 oz, 1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz, and 1 gram denominations.
– 1 oz coin : 31.103 g or 1.0000 troy oz.
- [South African Krugerrand]: First one-ounce gold bullion coin and still very popular. Made with 22-karat gold-copper alloy, giving it a distinctive orange tint.
– 1 oz coin : 33.93 grams (gross weight), 1 troy oz of pure gold (31.1035 grams).
In summary, while there’s a wide range of gold coin weights, the one troy ounce coin remains the most popular and serves as a standard for buying gold bullion.
Why does 1 oz gold coin say $50?
While their actual selling price (purchasing power) varies based on the spot price of gold, these coins carry face values of $5, $10, $25, and $50. These are their legal values, reflecting their issue and monetized value as “Gold Dollars”, as opposed to standard bullion.