Krugerrand, Maple Leaf, Philharmonic, Britannia, Eagle, Kangaroo: six bullion coins every dealer knows. Fineness, hardness, security features and premium compared.
In short
- Krugerrand: 916 gold with copper, robust, lowest premium, the most traded coin since 1967.
- Maple Leaf and Britannia: 999.9 fine gold with security features, more sensitive to scratches.
- Philharmonic: the only euro bullion coin, especially liquid in Germany and Austria.
- Collector coins are a different world: they cost a premium only collectors pay.
Krugerrand (South Africa)
The mother of bullion coins, minted since 1967. It consists of 916.7 gold with a copper share, therefore weighs 33.9 grams for one ounce of fine gold and has a reddish colour. The alloy makes it scratch-resistant, worldwide trade is enormous, and the premium of 2.5 to 3.5 percent on the ounce is usually the lowest. Denominations from a tenth to one ounce, plus silver and platinum versions.
Maple Leaf (Canada)
Since 1979 in 999.9 fine gold, since 2013 with a laser-engraved security mark and radial lines against counterfeiting. Soft fine gold, therefore prone to scratches and rim dents that dealers may discount. Premium similar to the Krugerrand. Also as a quarter troy ounce and a one-gram version.
Vienna Philharmonic (Austria)
The only bullion coin with a euro face value, 999.9 gold, since 1989. Extremely liquid in Germany, Austria and Switzerland, less so in the US. Premium 2.5 to 4 percent. The organ and instruments motif never changes, which aids recognition.
Britannia (United Kingdom)
Since 2013 in 999.9 gold, since 2021 with four security features: hologram, microtext, radial lines, tactile edge. Face value £100, tax-free on sale in the UK. Premium similar to the Maple Leaf.
American Eagle (USA)
916.7 gold like the Krugerrand but with silver as well as copper, hence more yellowish. Since 1986. Very liquid in the US, in Europe with a slightly higher premium of 3.5 to 5 percent. The American Buffalo is the fine gold variant.
Kangaroo and Nugget (Australia)
999.9 gold from the Perth Mint, annually changing motif, which attracts collectors and slightly reduces liquidity. Premium 3 to 4 percent. The Perth Mint also strikes the Lunar series, whose premium reaches collector prices.
What to watch when buying
For investors the premium counts, not the motif. Krugerrand and Philharmonic are the cheapest and most robust choices, Britannia and Maple Leaf the most counterfeit-proof. Buy current years or coins in good condition; collector years with a premium only pay if you collect. Store fine gold coins in capsules; the Krugerrand tolerates the tube.
Try it yourself
Gold CalculatorWeight, fineness, gold price: the material value of jewellery, bars and coins, also as a buying range.Frequently asked questions
Are older Krugerrand years worth more?
Only individual years with small mintages, such as 1967 or proof. Ordinary years trade at gold value.
Do scratched coins lose value?
Fine gold coins with deep scratches or rim dents are sometimes bought only as melt gold, so with a one to two percent discount. Capsules prevent that.
What about 20-mark gold coins and Vreneli?
Historic circulation coins in 900 gold, very liquid in German-speaking countries, usually with a small premium over gold value. Fine for investors, exciting for collectors.
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