Physical gold & silver
The Best-Known Gold Bullion Coins: Eagle, Maple Leaf, Krugerrand and More
Seven government-backed coins make up most of what dealers mean by gold bullion coins: the American Gold Eagle, American Gold Buffalo, Canadian Gold Maple Leaf, South African Krugerrand, British Britannia, Austrian Philharmonic and Australian Kangaroo. Each 1 oz version holds exactly one troy ounce of gold, so the best gold coins to buy come down to premium, resale and IRA rules, not to which holds more gold.
What sets them apart
- All seven contain one full troy ounce of gold in the 1 oz size. The 22-karat coins simply weigh more.
- Fineness runs from .9167 (Eagle, Krugerrand) to .9999 (the rest).
- Five of the seven qualify for an IRA in any year. Britannias qualify from 2013 on, and the Krugerrand doesn't.
- Fractional coins cost more per ounce than 1 oz coins.
- A bullion coin's price is its gold content times the gold price, plus a premium.
Popular gold coins side by side
The figures are for the 1 oz bullion version of each coin, taken from the issuing mints.
| Coin | Issuing mint | First issued | Fineness | Gold content | Face value |
|---|---|---|---|---|---|
| American Gold Eagle | United States Mint | 1986 | .9167 (22 karat) | 1 troy oz | $50 |
| American Gold Buffalo | United States Mint | 2006 | .9999 | 1 troy oz | $50 |
| Canadian Gold Maple Leaf | Royal Canadian Mint | 1979 | .9999 | 1 troy oz | 50 Canadian dollars |
| Krugerrand | South African Mint | 1967 | .9167 (22 karat) | 1 troy oz | None stated |
| Britannia | The Royal Mint (United Kingdom) | 1987 | .9999 since 2013; 22 karat before that | 1 troy oz | 100 pounds |
| Vienna Philharmonic | Austrian Mint | 1989 | .9999 | 1 troy oz | 100 euros |
| Australian Kangaroo | The Perth Mint | 1986 as the Australian Nugget; kangaroo design from 1989 | .9999 | 1 troy oz | 100 Australian dollars |
Sources: the U.S. Mint, the Royal Canadian Mint, the Royal Mint, the Austrian Mint, the Perth Mint and the South African Mint.
The face values are a formality. A 1 oz gold Eagle coin is legal tender for $50, and the U.S. Mint itself calls that figure largely symbolic. The Krugerrand carries no face value at all, only its gold weight.
A closer look at each coin
American Eagle gold bullion coins
The U.S. Mint has sold American Eagle gold bullion coins since 1986, in four sizes: 1 oz ($50 face value), 1/2 oz ($25), 1/4 oz ($10) and 1/10 oz ($5). The alloy is 91.67% gold, 3% silver and the rest copper. The Mint says the U.S. government guarantees the weight, content and purity.
The Gold Buffalo coin
The American Buffalo, launched in 2006, was the U.S. Mint's first .9999 fine, 24-karat gold coin. The bullion version comes in the 1 oz size, with a $50 face value. Its design comes from the 1913 Buffalo nickel.
Canadian Gold Maple Leaf coin
Canada's coin arrived in 1979 and, per the Royal Canadian Mint, was the first bullion coin to reach .9999 purity. The 1 oz coin weighs 31.11 grams and has a 50-dollar Canadian face value. Recent coins carry fine radial lines and a micro-engraved maple leaf as security features. It has no hardening alloy, so handle it by the edges or leave it in its capsule.
Krugerrand
The South African Mint struck the first Krugerrand on July 3, 1967, which makes it the oldest coin in this group. It's 22-karat gold alloyed with copper, which Rand Refinery says keeps the coin from scratching easily, and the 1 oz coin weighs 33.93 grams in order to hold one troy ounce of gold. The mint's own brochure says the coin is legal tender but has no face value.
Britannia, Philharmonic and Kangaroo
The Britannia dates to 1987. The Royal Mint struck it in 22-karat gold until 2013 and in .9999 gold since, so the year on a Britannia tells you which alloy you have. Current coins have a latent image and micro-text built in for security.
Austria's Vienna Philharmonic went on sale on October 10, 1989. The 1 oz coin carries a 100 euro face value and measures 37 mm across.
Australia's coin began as the Australian Nugget. The Perth Mint released the first proof coin in late 1986 and the bullion coins a few months later, then switched the design to a kangaroo in 1989. Most sizes get a new kangaroo design each year.
Why a 22-karat coin still holds a full ounce of gold
Karats are parts out of 24. A 22-karat coin is 22/24 gold, or 91.67%. That sounds like less gold than a .9999 coin. It isn't, because the mint makes the coin heavier.
The 1 oz Gold Eagle weighs 1.0909 troy ounces in total, by the U.S. Mint's own specification. Multiply that by 0.9167 and you get 1.000 troy ounce of gold. The other 0.09 ounce is silver and copper, which the Mint says makes a harder coin that resists scratching.
So a 1 oz Eagle, a 1 oz Krugerrand and a 1 oz Maple Leaf all contain the same gold. The alloy affects two things only: how well the coin wears, and whether it meets the fineness test for an IRA.
What makes a coin easy to resell
- Dealers know it on sight. All seven are struck to published specifications. A dealer can check weight and diameter against the mint's figures in a minute.
- A posted two-way price. Common coins have a buy price and a sell price at most bullion dealers every day. The U.S. Mint requires its Authorized Purchasers to maintain a two-way market in its bullion coins.
- The standard size. The 1 oz coin is the unit everyone quotes.
- Condition. Bullion coins don't need to be flawless, but a badly scratched or cleaned coin can draw a lower offer.
- What the buyer sees every day. A shop may quote a little less for a coin it rarely handles, so ask before you buy what it pays for each one.
When you get to that point, how to sell gold covers where to take coins and how to compare offers.
Fractional sizes and their higher premiums
Most of these coins also come in 1/2, 1/4 and 1/10 oz sizes, and the Philharmonic goes down to 1/25 oz. Smaller coins put gold within reach of a smaller budget and let you sell a little at a time.
They cost more per ounce. Striking, handling and shipping a 1/10 oz coin costs the mint and the dealer about what a 1 oz coin costs, and that expense lands on a tenth of the gold. If the lowest cost per ounce is the goal, bars cost less than coins too, and gold bar sizes shows how that works.
Bullion, proof, and collectible versions
Several of these coins exist in more than one form, and the names are close enough to mix up.
- Bullion coins are made in quantity and sold for a small premium over their gold. This page is about these.
- Proof coins are collector versions with a mirror finish, sold at a higher price. The gold content is the same.
- Collectible or numismatic coins are priced on rarity, age and condition.
That last group is where the most valuable gold coins are found. Rare old coins can sell for many times their gold content, a price that comes from collectors and can fall while gold rises. Coins vs. bullion explains how the two are priced.
Which of these coins can go in an IRA?
An IRA can hold gold under two exceptions to the tax code's rule on collectibles, which the IRS lists on its page about collectibles in retirement accounts. One covers certain U.S. gold coins named in the law. The other covers gold bullion at least as fine as a regulated futures exchange requires for delivery, which is .995 on the COMEX gold contract, as long as the trustee or custodian holds it.
| Coin | IRA-eligible? | Why |
|---|---|---|
| American Gold Eagle | Yes | Named in the law, so its 22-karat alloy doesn't matter |
| American Gold Buffalo | Yes | .9999 fine |
| Canadian Gold Maple Leaf | Yes | .9999 fine |
| Britannia | 2013 and later | .9999 fine. Earlier 22-karat coins fall below .995. |
| Vienna Philharmonic | Yes | .9999 fine |
| Australian Kangaroo | Yes | .9999 fine |
| Krugerrand | No | .9167 fine, below .995, and not one of the U.S. coins named in the law |
The custodian has the final say on what it will hold, and the coins have to stay in its custody, not in your safe. Confirm the exact product before you buy. Our list of IRA-approved gold has the details, and the precious metals IRA guide explains how the account works. These are rules, not tax advice, so check with a tax professional.
How the price of a gold Krugerrand, Eagle or Maple Leaf is set
We don't print prices, because any number here would be stale by tonight. The formula doesn't go stale:
Coin price = gold content in troy ounces × gold price per ounce + premium.
Say gold is $4,000 an ounce, a round number we made up, and a dealer charges a 5% premium on a 1 oz coin. The gold is worth $4,000, the premium is $200, and the coin costs $4,200. For a 1/10 oz coin at a 12% premium, the gold is worth $400, the premium is $48, and the coin costs $448. Those premiums are invented to show the arithmetic.
The gold part is identical for every 1 oz coin on this page. So the price of a gold Krugerrand against an Eagle is entirely a difference in premium, and that changes from dealer to dealer and week to week.
The gold price itself moves every trading day, whichever coin you hold.
Questions that decide which coin fits
We won't tell you which to buy. These questions sort it out:
- Is it going in an IRA? Then the Krugerrand and older Britannias are out, and your custodian's list rules.
- What premium is each coin carrying today? Get same-day quotes on two or three of them. The gap can be bigger than you'd guess.
- What does the dealer pay to buy each one back? A low premium going in means little if the buyback is weak.
- How small a piece might you sell? That decides 1 oz versus fractional.
- Does scuffing bother you? Alloyed 22-karat coins take handling better than pure gold ones.
- Would a bar do the same job for less? Gold bars vs. gold coins compares them.
Buying with ordinary savings? Buying physical gold outside an IRA covers payment, delivery and taxes. This page is education, not personal advice.
Common questions
What are the best gold coins to buy?
There isn't one best coin. Every 1 oz coin here holds the same gold, so compare the premium today, the dealer's buyback price, and whether you need IRA eligibility. Those three answers pick the coin.
Does a 1 oz Gold Eagle coin really contain an ounce of gold?
Yes. The coin weighs 1.0909 troy ounces in total and is 91.67% gold, which works out to one full troy ounce of gold. The rest is silver and copper.
Can I hold Krugerrands in an IRA?
The Krugerrand is for holding outside an IRA. It's .9167 fine, below the .995 minimum for gold bullion, and it isn't one of the U.S. coins the law names. The Gold Eagle, Gold Buffalo, Maple Leaf, Philharmonic and Kangaroo all qualify.
Is the Canadian Gold Maple Leaf purer than the American Gold Eagle?
By fineness, yes: .9999 against .9167. By gold content, no. Both 1 oz coins contain one troy ounce of gold, and the Eagle is heavier to make up for its alloy.
What are the most valuable gold coins?
Rare collectible coins, whose prices come from scarcity and condition. Bullion coins like the ones on this page are worth their gold plus a small premium.
We base our guides on primary sources such as the IRS, the Department of Labor, and federal regulators. Read our editorial policy. Spot an error? Tell us.
