Gold Coin Prices: Live Melt Values
A gold coin's melt value is its fine gold content multiplied by the spot price. The live table below shows that value for eight widely traded coins, from the one-ounce Eagle, Maple Leaf and Krugerrand to the British Sovereign and the Indian 8-gram coin. Dealers sell coins above melt value; the premium is explained below.
Gold coin melt values (USD)
| Weight & purity | Live price |
|---|---|
| American Gold Eagle · 1 oz fine | live |
| Canadian Maple Leaf · 1 oz | live |
| South African Krugerrand · 1 oz fine | live |
| UK Britannia · 1 oz | live |
| UK Sovereign · 7.3224 g fine | live |
| Austrian Philharmonic · 1 oz | live |
| Chinese Panda · 30 g | live |
| Indian 22K coin · 8 g (7.328 g fine) | live |
Melt value = fine gold weight × live spot price, with no dealer premium, tax or collector value. Method
Coin specifications
| Coin | Purity | Fine gold | Total weight |
|---|---|---|---|
| American Gold Eagle (1 oz) | 22K (91.67%) | 1 troy oz | 33.93 g |
| Canadian Maple Leaf (1 oz) | 99.99% | 1 troy oz | 31.10 g |
| South African Krugerrand (1 oz) | 22K (91.67%) | 1 troy oz | 33.93 g |
| UK Britannia (1 oz) | 99.99% | 1 troy oz | 31.10 g |
| UK Sovereign | 22K (91.67%) | 7.3224 g | 7.99 g |
| Austrian Philharmonic (1 oz) | 99.99% | 1 troy oz | 31.10 g |
| Chinese Panda (30 g) | 99.9% | 30 g | 30 g |
| Indian 8 g coin (22K) | 91.6% | 7.328 g | 8 g |
The 22K coins (Eagle, Krugerrand, Sovereign) are alloyed with copper or silver to make them harder wearing, so they weigh more than an ounce in total while still containing a full ounce, or in the Sovereign's case 7.3224 g, of gold. Purity alone does not change melt value: a one-ounce Eagle and a one-ounce Maple Leaf contain the same gold. Since 2016 the Panda has been sold in gram sizes, so its 30 g coin holds slightly less gold than a troy ounce. Indian coins are sold by gross weight, and 24K (999) versions of the same sizes are also common.
Worked example
With an illustrative spot price of $4,150 per ounce ($133.43 per gram):
- Any one-ounce coin: $4,150.00 melt value
- Sovereign: 7.3224 × 133.43 ≈ $977.03
- Panda 30 g: 30 × 133.43 = $4,002.90
- Indian 8 g 22K coin: 8 × 0.916 × 133.43 ≈ $977.78
The Sovereign and the Indian 8 g 22K coin hold almost the same gold, which is why they price so closely. Figures computed from the rounded gram price can differ from the live table by a few cents. For other weights, use the gold calculator.
Checking a coin before you buy or sell
Popular bullion coins are also the most counterfeited. Weight and diameter are the first checks: a genuine one-ounce Maple Leaf weighs 31.10 g and a Krugerrand 33.93 g, and a fake made of tungsten or plated base metal usually fails on one of the two because gold is so dense. Reputable dealers also use magnet tests (gold is not magnetic), ping tests and electronic analysers that read metal content without damaging the coin. Buy from established dealers or mints, keep coins in their original capsules, and avoid handling them with bare fingers, since scratches and marks can reduce what a dealer will pay. See how to check gold purity.
Why coins cost more than melt value
Dealers sell coins at a premium over melt and buy them back at a smaller premium or a discount. The premium covers:
- Minting and distribution: striking, packaging, shipping and insuring a coin costs far more per ounce than casting a large bar.
- Dealer margin: the spread between a dealer's sell and buy prices.
- Demand: premiums widen when retail buying surges and supply is tight, and narrow in quiet markets.
- Size: fractional coins (1/10 oz, 1/4 oz) carry much higher premiums per ounce than one-ounce coins.
- Collector value: older dates, low mintages, proof finishes and graded coins can sell far above bullion value. The table ignores this.
Popular one-ounce bullion coins are the most liquid, because every dealer recognises them and can verify them quickly. Compare dealers on the full round-trip cost: the price you pay today against what they would pay you back for the same coin.
Tax points by country
In the UK, Sovereigns and Britannias are legal tender and are exempt from capital gains tax for individuals, and investment gold coins are free of VAT in the UK and EU. US sales tax on bullion depends on the state. In India, coins attract 3% GST plus the 6% import duty built into the rate, and jewellers' coins often carry a making charge; see GST on gold and the 1 gram gold rate for a worked example. Selling tips are in how to sell gold.