900 Gold

900 gold contains exactly 900 parts of fine gold per 1,000 parts of total weight. That corresponds to a fineness of 90% and 21.6 carats. The other 10% usually consists of copper, occasionally supplemented by silver, which gives the alloy a characteristic, slightly reddish-warm colour. Anyone wishing to determine the current material value of a 900 piece can use the melt value calculator.

Historical Significance

900/1000 established itself over centuries as a widespread standard for circulating coins in Europe and America. In Germany, 900 gold was the binding alloy for imperial gold coins of the Empire (1871–1915): the 20-Mark gold coin (Wilhelmine era, 7.965 g gross weight) and the 10-Mark coin were struck in 900/1000 and are today among the most collected historical gold coins of Germany. The Swiss Vreneli and many French, American and Latin American circulating coins of the 19th and early 20th centuries also follow this fineness.

Note on the term "crown gold": this designation is occasionally equated incorrectly with 900/1000. Historically, crown gold correctly refers to the English 22-carat system (916.7‰), introduced under Henry VIII in 1526. 900 gold has no established common name in English or international usage.

Calculating the Fine Weight

The fine weight portion is easy to calculate:

Fine weight = gross weight × 0.900

Example: 7.965 g (20-Mark gold coin) × 0.900 = 7.169 g fine gold ≈ 0.2305 troy ounces

With the gold calculator, the material value in pounds can be determined directly from this.

Well-Known 900 Coins at a Glance

The Krugerrand, by contrast, has a fineness of 916.7‰ (22 carats) and is therefore not 900 gold – it is treated under 916 gold.

900 Gold Compared with Other Fineness Grades

• 333 gold (8 carat): only 33.3% fine gold – in the UK this is below the minimum hallmarkable standard of 9 carats.
• 585 gold (14 carat): 58.5% fine gold – a popular jewellery standard.
• 750 gold (18 carat): 75% fine gold – an internationally sought-after jewellery and watch standard.
• 900 gold (21.6 carat): 90% fine gold – historical circulating coins of Europe and America.
• 916 gold (22 carat): 91.67% fine gold – Krugerrand, Sovereign, British tradition.
• 999 / 999.9 gold: fine gold – bars and modern investment coins (Maple Leaf, Philharmonic).

Tax Treatment

Under UK law, investment gold is VAT-exempt (HMRC; Directive 2006/112/EC). A gold coin qualifies as investment gold if it has a fineness of at least 900, was minted after 1800, was or is legal tender in its country of origin, and is normally sold at a price not exceeding the open-market value of its gold content by more than 80%. Classic 900 coins such as the 20-Mark gold coin or the Vreneli therefore meet the criteria and can be bought VAT-free (the EU and HMRC both publish qualifying-coin lists). For bars, a stricter minimum standard of 995/1000 applies.

On disposal, Capital Gains Tax may apply. UK legal-tender coins from The Royal Mint (such as the Sovereign, Britannia and Lunar) are CGT-exempt with unlimited gains, but foreign coins such as the 20-Mark or the Vreneli are subject to CGT on any gain (disposal proceeds minus acquisition cost) above the annual exempt amount. There is no German-style one-year holding period. Note: This is not tax or investment advice; please consult a tax adviser for your individual case.

You will find the historical gold price trend and the current gold price on the corresponding pages.

In Brief

900 gold is a fineness rich in tradition with 90% gold content, known above all through the German imperial gold coins, the Swiss Vreneli and numerous other historical circulating coins – more robust than fine gold, of higher quality than common jewellery alloys, and, as a qualifying investment coin, VAT-exempt in the UK.