You may be considering investing in gold coins. But now you wonder how much gold you’re getting for your money. What is the gold content of collectible gold bullion coins, and how much do they weigh?

Gold coins from various parts of the world are made in different denominations that differ by weight. The commonest weight for collectible gold coins, especially those approved under IRC Section 408 (m)(3), are one-ounce coins, which weigh one troy ounce or 31.1 grams.

The different measurement systems used worldwide and in the bullion trade complicate the issue of how much a gold coin weighs. Moreover, coins are struck in various denominations that weigh differing amounts. Let’s look at the weight of gold coins, focusing on those approved by Congress.

How Do We Measure The Weight Of Gold Coins?

To understand how much a gold coin weighs, you must understand the differences between three measurement systems.

Avoirdupois weight, part of the imperial system commonly used in the US, originated in the British Empire. It measures weight in ounces, pounds, and stones, with 16 ounces in a pound.

On the other hand, the metric system originated in France in the 1700s and is decimal based, with a  gram being a thousandth of a kilogram and a milligram being a thousandth of a gram. One avoirdupois ounce is equal to 23.348 grams.

Precious metals are often measured in metric weights nowadays. However, the traditional and most familiar measurement for precious metals is the troy ounce (abbreviated ozt to distinguish it from avoirdupois ounces). A troy pound is made up of 12 troy ounces, and one troy ounce equals 31.1 grams. A troy ounce is equal to 1.097 avoirdupois ounces.

Which Gold Coins Should You Buy As An Investment?

You want to buy gold coins as an investment, but which is the best choice? Traditionally, you were not allowed to invest in precious metals using an IRA. Congress enacted an exception in 1997 that enables you to invest in bullion and coins of a certain standard of purity with a self-directed IRA.

To be considered for ownership in a self-directed gold IRA, the Internal Revenue Code (IRC) specifies under IRC Section 408 (m)(3) that gold coins must be at least 99.5 percent pure or .995 fine. This purity is considered to be 24 karats under US laws defining karatage. The only exception is the American Gold Eagle, which is 91.67 percent gold, or 22 karats.

Congress has specified particular coins and particular sizes thereof as acceptable. The coins that you may hold under a self-directed gold IRA are:

  • 1/10 oz American Gold Eagle Coins
  • 1/4 oz American Gold Eagle Coins
  • 1/2 oz American Gold Eagle Coins
  • 1 oz American Gold Eagle Coins
  • 1 oz American Gold Buffalo Coins
  • 1 oz Canadian Gold Maple Leaf Coins
  • 1 oz Gold Vienna Philharmonic Coins
  • 1 oz Australian Gold Nugget (Gold Kangaroo) Coins

How Much Does The American Gold Eagle Weigh?

The American Gold Eagle was authorized by the Gold Bullion Coin Act of 1985 and released by the US Mint in 1986. It comes in four weights, which are marked with different face values. Although they are legal tender, their intrinsic value is much higher than their face value and fluctuates according to the spot price of gold.

The US government guarantees their gold content by weight in troy ounces. They are made of 91.67 percent gold of American origin, alloyed with 3 percent silver and 5.33 percent copper to produce a more hard-wearing coin.

American Gold Eagle
Denomination1/10 ozt1/4 ozt1/2 ozt1 ozt
Gross weight0.1091 ozt (3.393 g)0.2727 ozt (8.483 g)0.5454 ozt (16.965 g)1.0909 ozt (33.931 g)
Face value$5$10$25$50
Gold content.9167 fineness.9167 fineness.9167 fineness.9167 fineness

How Much Does The American Gold Buffalo Weigh?

The US government created the American Buffalo or Gold Buffalo to increase US gold sales and attract investors who want to buy 24-karat gold (around 60 percent of the gold market worldwide). The US Mint first released this coin in 2006.

It is a 24-karat gold coin with one troy ounce of 99.99 percent pure gold. Its face value is US$50, but its intrinsic value is far higher.

American Gold Buffalo
Denomination1 ozt
Gross weight1.0001 ozt (31.1g)
Face valueUS$50
Gold content99.99 percent (.9999 fine)

How Much Does The Canadian Gold Maple Leaf Weigh?

The Canadian Gold Maple Leaf is a 24-karat gold bullion coin produced by the Royal Canadian Mint from gold from exclusively Canadian sources. It is legal tender in Canada, having a face value of 50 Canadian dollars. Its intrinsic value varies according to the spot price of gold.

This coin has a .9999 millesimal fineness (99.99 percent), with coins struck before 1982 being .999 pure. Some special edition coins are .99999 pure, making them one of the purest official bullion coins. It comes in various sizes, with the standard version being 1 troy ounce.

Canadian Gold Maple Leaf
Denomination  1/20 ozt1/10 ozt1/4 ozt1/2 ozt1 ozt
Gross weight  0,0500 ozt (1.556 g)0.1091 ozt (3.393 g)0.2727 ozt (8.483 g)0.5454 ozt (16.965 g)1.0909 ozt (33.931 g)
Face value  CAD$1CAD$5CAD$10CAD$20CAD$50
Gold content  .9999 fineness.9999 fineness.9999 fineness.9999 fineness.9999 fineness

How Much Does The Gold Vienna Philharmonic Weigh?

In November 1988, the Austrian National Council authorized the Austrian Mint to produce 24-karat gold bullion coins called the Vienna Philharmonic (Wiener Philharmoniker), after the renowned orchestra.

First released in October 1989, the Austrian Mint initially released one troy ounce and one-quarter troy ounce sizes. Later, one-tenth and one-half ounce coins joined the line-up.

The one troy ounce coins initially had a face value of 2000 Austrian schillings before Austria adopted the euro in 2002, and the Mint changed the nominal value to 100 euros. With a fineness of .9999 (99.99 percent), the intrinsic value of the coins is far higher.

Gold Vienna Philharmonic
Denomination  1/25 ozt1/10 ozt1/4 ozt1/2 ozt1 ozt
Gross weight  0,0400 ozt (1.2441 g)0,1003 ozt (3.121 g)0.2500 ozt (7.776 g)0.5000 ozt (15.552 g)1.0000 ozt (31.103 g)
Face value  4 euros10 euros25 euros50 euros100 euros
Gold content  .9999 fineness.9999 fineness.9999 fineness.9999 fineness.9999 fineness

How Much Does The Australian Gold Nugget Weigh?

The Government of Western Australia is the sole owner of Gold Corporation, better known by its trading name, the Perth Mint. This entity introduced the Australian Gold Nugget in 1986

. Most people call it the Gold Kangaroo.

The coin is 24 karats (99.99 percent pure or .9999 fineness) and is legal tender. The intrinsic value is far higher than the face value, and due to the design changing yearly, the numismatic value is also high.

Australian Gold Nugget/Gold Kangaroo
Denomination  1/20 ozt1/10 ozt1/4 ozt1/2 ozt1 ozt2 ozt10 ozt1 kg
Gross weight  0.0500 ozt (1.5552 g)0.1000 ozt (3.11 g)0.2500 ozt (7.78 g)0.5001 ozt (15.55 g)1.0001 ozt (31.10 g)2.000 ozt (62.21 g)10.00 ozt (311.0 g)32.154 ozt (1000 g)
Face value  AUS$5AUS$15AUS$25AUS$50AUS$100AUS$500 (1991) AUS$200 (1992—)AUS$2500 (1991) AUS$1000 (1992—)AUS$10000 (1991) AUS$3000 (1992—)
Gold content  .9999 fineness.9999 fineness.9999 fineness.9999 fineness.9999 fineness.9999 fineness.9999 fineness.9999 fineness

Other Well-Known Gold Coins

No other coins than those specified under IRC Section 408 (m)(3) are allowable under a self-directed IRA, including some well-known gold coins. You can buy and hold these coins if you are not investing via a self-directed gold IRA. Three famous examples are the Krugerrand, Britannia, and Gold Panda.

The South African Krugerrand 1 ozt coin is 31.103 g. It is 91.67 percent gold and 8.33 percent copper. The United Kingdom Britannia 1 ozt coin is 31.104 g. Pre-2012 coins were 91.7 percent gold; post-2013 coins are 99.99 percent gold. Pre-1989 coins were alloyed with copper; post-1990 coins are alloyed with silver.

The Chinese Gold Panda was a 1 ozt coin from 1982-2015; post-2016, it is a metric weight of 30 g, which is 0.9645 ozt. They are 99.90 percent gold. Due to the ever-changing design, it has a lot of collectible/numismatic value.

Conclusion

Now you know how gold coin weight is measured and the various sizes and gold contents of collectible gold bullion coins. Although troy ounces versus regular ounces versus grams can be confusing, you will get used to the weights used for various gold coins.

References

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