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Tip of the Week – Purity of Gold Typically Doesn’t Affect Gold Content of Gold Coins

We have seen several coin dealers and coin buyers over the years that have provided inaccurate information on the purity of gold coins and how it affects the gold content of the coins, so we thought we would take this opportunity to set the record straight.

It’s important to know that while the purity of gold coins may vary, the gold content or amount of fine or pure gold generally remains the same.  For example, American gold buffaloes and Canadian gold maple leaf gold coins are 24k gold and contain 31.1 grams of pure gold.  This is equivalent to one troy ounce of fine gold.

On the other hand, American gold eagles and South African gold krugerrands, which are 22k gold coins, are composed of gold and other alloys.  However, they contain exactly one troy ounce of fine gold, such as their 24k counterparts.  The difference is that the total weight of the coins are increased to take into account the lower purity of gold.  American gold eagles and South African gold krugerrands weigh 33.93 grams, which is 2.83 grams heavier than 24k gold coins.

In summary, whether you have in your possession 22k or 24k gold coins, it is likely that they both contain the same amount of pure gold, so if you have a coin dealer that is trying to convince you otherwise, we suggest that you look elsewhere.

Tony Davis
Tony Davis