1 oz Gold Coin – Weight, Price and Which to Choose

The 1 oz gold coin is the most popular gold coin format in the world – among investors and collectors alike. Here is exactly how much it weighs, what its price depends on, how bullion and collector coins differ, and what to look for when buying.

How much does a 1 oz gold coin weigh?

Coins are weighed in troy ounces, not ordinary ounces. One troy ounce is 31.1 g, so a 1 oz gold coin contains 31.1 g of pure gold. One detail often surprises people:

  • coins of 999.9 fineness (24 carats), such as the Maple Leaf or Vienna Philharmonic, weigh 31.1 g,
  • coins of 916.7 fineness (22 carats), such as the Krugerrand or American Eagle, weigh about 33.9 g – but contain the same amount of pure gold, 1 ounce. The rest is copper or silver added to harden the coin.

A 1 oz gold coin is usually 30–37 mm in diameter. Gold is almost twice as dense as silver, so a gold ounce is noticeably smaller than a silver one. Read more about the troy ounce in What does 1 oz mean on a coin?

How much does a 1 oz gold coin cost?

The price of a gold coin has two parts:

  • the metal value – the current world price of an ounce of gold; it changes every day,
  • the premium – the amount above the gold value, covering minting, distribution and margin.

With bullion coins the premium is small, so their price follows the gold price. With collector coins the premium is higher, because you also pay for the design, the minting technique and the limited mintage. That is why two coins with the same gold weight can cost very differently. You can check the current gold price on precious metal quote sites, and many central banks publish a daily gold price.

1 ounce or smaller coins?

The larger the coin, the lower the premium per gram of gold. Minting a 1/10 oz coin costs about the same as a 1 oz coin, yet it holds ten times less gold. So for investment, a full ounce is usually better value than several smaller coins. Smaller coins – 1/2, 1/4, 1/10 and even 1/1000 oz – are cheaper to buy and make great gifts. See the comparison in Gold coins – collector or bullion?

The most popular 1 oz gold bullion coins

  • Krugerrand (South Africa) – the first modern bullion coin, struck since 1967, 916.7 fineness,
  • Maple Leaf (Canada) – with the maple leaf, 999.9 fineness,
  • Vienna Philharmonic (Austria) – with orchestra instruments, 999.9 fineness,
  • Kangaroo (Australia) – with a new kangaroo design every year, 999.9 fineness,
  • American Eagle (USA) – with Lady Liberty, 916.7 fineness.

In the EU, gold coins that meet the conditions of investment gold are exempt from VAT.

Collector 1 oz gold coins

If you want more than a bar in the shape of a coin, choose a collector gold ounce. These coins have a low mintage – often from a few dozen to a few hundred pieces worldwide – and exceptional designs. At Magikos-Coins you will find, among others, gold ounces from the Megafauna series by Germania Mint, depicting extinct Ice Age giants, and the Ganesha gold ounce with a mintage of only 50 pieces. Browse all gold coins in our shop.

What to look for when buying

  • Certificate and packaging – a collector coin should come with a certificate of authenticity and its original packaging (a box or a sealed blister, the so-called safepack).
  • A trusted seller – fake gold coins exist. Buy from sellers who source coins directly from mints. We describe home checks in How to check if a coin is silver – weighing and measuring works for gold too.
  • Condition – don't touch a gold coin with your fingers or take it out of its capsule. Gold does not tarnish, but a mirror finish scratches easily. See our tips in How to store coins?

Frequently asked questions

How many grams is a 1 oz gold coin?

It contains 31.1 g of pure gold. A 999.9 coin weighs 31.1 g, and a 916.7 (22 carat) coin about 33.9 g, because it contains an alloy.

What is the diameter of a gold ounce?

Usually 30 to 37 mm, depending on the coin and its thickness.

Is a 1 oz gold coin VAT-free?

In the EU, yes, if it meets the conditions of investment gold: at least 900/1000 fine, minted after 1800, is or was legal tender in its country of issue, and its price does not exceed the gold value by more than 80%.

Bullion or collector – which to choose?

If price per gram of gold matters most, choose a bullion coin. If you are looking for a special gift or building a collection, choose a collector coin with a low mintage.

Summary

A 1 oz gold coin is 31.1 g of pure gold in the world's most popular format. Bullion coins can be bought close to the metal price, while collector coins add a limited mintage and a unique design. Browse gold coins at Magikos-Coins or write to us – we will help you choose.