916 Gold (22 Carat)

916 gold – also known as 22 carat gold – contains 916.6 parts per thousand of pure gold, that is exactly 22 of 24 possible parts. The remaining 8.33% consists of alloying metals, typically silver, copper or a combination of both. This places 916 gold on the fineness scale between the popular 750 gold (18 carat) and near-pure fine gold (999). The current gold price always forms the basis for calculating the material value of this fineness. In the UK, "crown gold" historically refers precisely to this 22-carat standard, introduced under Henry VIII in 1526.

Fineness and Carat Calculation

The carat system divides gold content into 24 equal parts. 22 carats means:

Fineness = 22 ÷ 24 × 1000 = 916.6‰

The hallmark therefore shows the stamp figure 916 or 916.6. Anyone wishing to determine the exact material value of a 916 gold piece can do so with the melt value calculator – it automatically takes into account the weight, fineness and current spot price.

Alloy and Properties

The 8.33% additive metals give 916 gold considerably better mechanical properties than pure gold (999.9):

Thanks to the high gold content, 916 gold retains the characteristic rich yellow-gold colour – it is considerably more golden than 585 gold (14 carat) and shows barely any deviation in tone or lustre.

Typical Areas of Use

916 gold is used above all in three areas:

1. Bullion coins – the South African Krugerrand, the British Sovereign and the American Eagle (gold) are minted in 916 gold. These coins are regarded worldwide as investment classics.
2. Jewellery – especially in India, the Middle East and parts of Southeast Asia, 22-carat gold is the preferred standard for wedding jewellery and gold jewellery as a store of value.
3. Historical circulating coins – many of the great gold coins of the 19th and early 20th centuries, including the British Sovereign and US gold coins (Double Eagle, Eagle), were minted in 22 carats. Coins of the German Empire, by contrast, were issued in 900 gold (21.6 carats).

916 Gold as an Investment Form

Coins such as the Krugerrand made of 916 gold are among the most-traded investment gold coins in the world. Since the coin weight is standardised on the fine gold content (e.g. 1 troy ounce of pure gold), a 1-ounce Krugerrand coin actually weighs somewhat more than a troy ounce – namely about 33.93 g gross weight, which at 91.66% gold gives exactly 1 troy ounce (31.1035 g) of gold.

Under UK law, transactions in investment gold (including qualifying gold coins of 916 fineness) are exempt from VAT (HMRC; Directive 2006/112/EC). On disposal, UK legal-tender coins from The Royal Mint – such as the Sovereign and Britannia – are exempt from Capital Gains Tax with unlimited gains, whereas foreign coins such as the Krugerrand 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 specific questions.

Distinction from Other Fineness Grades

You can compare the current value of any quantities of gold of various finenesses directly with the gold calculator or the purchase price calculator.

In Brief

916 gold (22 carat) combines a very high gold content of 91.66% with solid everyday suitability – it is the preferred material of the world's most important bullion coins and remains clearly distinguishable from cheaper alloys by its fineness.