Various coins of 1 troy ounce of gold

Worldwide, the size of 1 troy ounce is the most widely used size in the gold market. 1 troy ounce is a designation of weight and this corresponds to 31.103 grams. There are several types of gold troy ounce coins known worldwide, and many different countries mint gold troy ounce coins through their official mints that are traded specifically for their gold value. The most well-known coins are the Maple Leaf and the Krugerrand.

Krugerrand

The Krugerrand is a gold coin that has been minted since 1967 on behalf of the South African government. Both the Krugerrand and the South African currency, the rand, derive their names from the Witwatersrand nature area. Both coins feature an image of a springbok; the Krugerrand also depicts Paul Kruger, the last president of the Transvaal Republic.

The Krugerrand differs from many other popular gold investment coins due to its copper color, which results from a lower gold content of 22 karats (91.67%). However, the coin does contain 1 troy ounce of pure gold, making it slightly heavier than comparable coins. The Krugerrand was once a very popular gold coin, but due to boycotts against the apartheid regime and its lower gold content, it has become less popular.

Maple Leaf

The Maple Leaf is a Canadian gold coin minted by the Royal Canadian Mint. Introduced in 1979, it is legal tender in Canada with a face value of 50 Canadian dollars, although its gold value is much higher. Since Canada is part of the Commonwealth, one side of the coin bears the image of the British monarch. The other side features the national symbol of Canada, a maple leaf, from which the coin gets its name.

The Maple Leaf has become a very popular gold investment coin due to advanced authenticity features like micro-laser engraving and good availability. In addition to the 1 troy ounce version, the Maple Leaf is also readily available in other weights such as 1/4, 1/10, or 1/2 troy ounce.

Philharmonic

The Wiener Philharmonic coin is named after the Vienna Symphony Orchestra and is minted by the Austrian Mint. The symphony orchestra also inspired the coin's design, which features the concert hall on one side and various musical instruments on the other.

The coin was introduced in 1989 with a nominal value of 2,000 Austrian schillings but today has a face value of 100 euros. As with other gold coins, the nominal value is typically much lower than the gold value. Like the Maple Leaf and the Krugerrand, this coin is popular and easily tradable.

Australian Kangaroo

The Australian Gold Kangaroo, sometimes called the Australian Gold Nugget, is a gold investment coin minted by the Perth Mint. Introduced in 1986, it is widely available; in addition to the 1 troy ounce version, heavier and lighter variants are also available. Like the Philharmonic and the Maple Leaf, these coins are 24 karat.

Originally, the coins featured images of various Australian gold nuggets, hence the original name. Later, the design was changed to kangaroos, with a different kangaroo image designed each year, making the coins attractive to collectors as well.

Britannia

The Britannia is a gold coin minted by the Royal Mint. Like the Maple Leaf, one side bears the image of the British monarch. The other side features Britannia, a national personification of Great Britain as a female warrior with a trident and a shield.

The Britannia is a popular and widely available coin that has been minted in gold since 1987. Until 2012, the coins had a lower gold content of 22 karats like the Krugerrand, but since 2013 they have been made of 24 karat pure gold.

The cause of price differences between different mints?

Although the coins contain a similar amount of gold, price differences can occur between troy ounce coins based on market conditions. For example, not every mint charges the same premium (difference between gold price and the price of the coin) making some coins more expensive than others. Also, our offer consists of coins from the current vintage as well as those from previous vintages.

Coins from previous vintages are purchased by us from individuals and therefore cheaper to buy. We call these pre-owned gold coins. The value of these coins is identical to the new coins, but the coins are cheaper to purchase. In our offer of gold coins, pre-owned coins are shown first because they are the most interesting type of gold troy ounce coins for private investors and savers. At The Silver Mountain, coins from popular mints are usually readily available.

Disclaimer: The Silver Mountain does not provide investment advice and this article should not be considered as such. Past performance is no guarantee of future results.