What is 999 gold?
999 gold is gold that is at least 99.9% pure: 999 parts gold in every 1,000 parts of metal. It is often called fine gold or 24 carat gold. Most investment bars go one step further to 999.9 (99.99%), while popular coins such as the American Eagle and Krugerrand are 22 carat (916.7).
Gold purity is shown as a number out of 1,000, called the fineness. If you understand that one idea, product listings, hallmarks and tax rules all start to make sense.
What does 999 mean on gold?
The number is a fineness mark. It tells you how many parts in 1,000 are pure gold. So:
- 999 = at least 99.9% gold, with up to 0.1% other metals.
- 999.9 ("four nines") = at least 99.99% gold.
- 916.7 (or 916) = 22 carat, about 91.67% gold.
- 750 = 18 carat, 75% gold.
You will see the same idea written as a decimal (.999 or .9999) on many US products. The US Mint, for example, describes its American Buffalo bullion coin as ".9999 fine" 24-karat gold. The term "fine gold" means the pure gold content, so a coin that contains "1 oz fine gold" holds one troy ounce of pure gold, whatever else it is mixed with.
Is 999 gold the same as 24 carat?
For buyers, effectively yes. The carat (karat in the US) system divides metal into 24 parts, so 24 carat means all 24 parts are gold. Absolute 100% purity is impossible to make in practice, so 999 and 999.9 are the real-world standards behind "24 carat". The UK's hallmarking rules list 999 as the highest gold standard an assay office will mark, above 990 and 916.6 (22 carat). In the US, the FTC's Jewelry Guides say the word "gold" on its own should only describe fine (24 karat) gold. Our page on 24 karat gold has the full carat chart.
| Fineness mark | Carat | Gold content | Where you see it |
|---|---|---|---|
| 999.9 | 24 | 99.99% | Most investment bars, Maple Leaf, Kangaroo, Buffalo, Britannia |
| 999 | 24 | 99.9% | Some bars and coins; top UK hallmark standard |
| 995 | About 23.9 | 99.5% | Minimum for LBMA Good Delivery 400 oz bars |
| 990 | About 23.8 | 99.0% | UK hallmark standard, some Asian jewellery |
| 916.7 | 22 | 91.67% | American Eagle, Krugerrand, Sovereign |
| 750 | 18 | 75% | Fine jewellery |
Sources: US Mint bullion programmes, Assay Office London hallmarking guidance, LBMA Good Delivery specifications.
Real products: which coins and bars are 999 gold?
Most modern bullion falls into one of two camps: 24 carat "four nines" products, or 22 carat coins that are tougher because they contain a little copper or silver.
| Product | Maker | Purity | Fine gold in 1 oz size |
|---|---|---|---|
| American Buffalo | US Mint | 999.9 (24 carat) | 1 troy oz |
| Maple Leaf | Royal Canadian Mint | 999.9 | 1 troy oz |
| Kangaroo | The Perth Mint | 999.9 | 1 troy oz |
| Britannia | The Royal Mint | 999.9 | 1 troy oz |
| Perth Mint cast and minted bars | The Perth Mint | 99.99% | Varies by bar |
| American Eagle | US Mint | 916.7 (22 carat) | 1 troy oz (coin weighs more) |
| Krugerrand | Rand Refinery / SA Mint | 916.7 (22 carat) | 1 troy oz (coin weighs more) |
Notice the last column. A 22 carat one ounce coin still contains one full troy ounce of pure gold. The mint simply adds extra alloy metal on top, so the coin is heavier. The US Mint says its Eagle is 91.67% gold, 3% silver and the balance copper. That is why you compare gold products on fine gold content, not on total weight.
Why purity matters when you buy
It does not change the gold value of a one ounce coin
Dealers price bullion on the fine gold inside it, at the spot price, plus a premium. A one ounce Eagle and a one ounce Buffalo hold the same gold, so any price gap between them is about demand, design and premiums, not purity.
It can change your tax bill
This is where 999 really matters, outside the US:
| Country | Purity rule | 999 gold | 22 carat coins |
|---|---|---|---|
| Canada | No GST/HST on gold of at least 99.5% purity (CRA 17.1) | Exempt | Taxable |
| Australia | No GST on investment gold of at least 99.5% fineness (GSTR 2003/10) | GST-free | GST applies |
| UK | Bars VAT-free at 995+; coins VAT-free at 900+ (Notice 701/21) | VAT-free | VAT-free if qualifying |
| US | No federal sales tax; state rules vary | Depends on state | Depends on state |
So a Canadian or Australian buyer usually pays less tax by choosing a 999.9 coin such as the Maple Leaf or Kangaroo. A UK buyer can choose either, and may prefer Britannias for other reasons covered on our where to buy gold in the UK page.
It affects durability
Pure gold is soft. Four nines coins mark easily if handled, which is why they come in capsules or tubes. 22 carat coins resist scratches better, which is one reason the Krugerrand and Eagle were made that way.
Live value of 999 gold
These figures are the value of the pure gold only, based on the live spot price. They are not dealer prices, which add a premium when you buy and deduct a spread when you sell.
| Weight | USD | GBP | CAD | AUD |
|---|---|---|---|---|
| 1 gram | ... | ... | ... | ... |
| 1 troy ounce | ... | ... | ... | ... |
| 1 kilo | ... | ... | ... | ... |
Spot-based melt values, not dealer prices.
Where to buy 999 gold
Almost every bullion dealer sells 999.9 bars and coins. The cheapest options per ounce are usually one ounce bars and coins from big refiners and mints. Start with the dealer comparison for your country: where to buy gold in the US, where to buy gold in Canada or where to buy gold in Australia. New to buying? Our step-by-step guide on how to buy gold explains premiums, payment and storage, and more explainers sit in the Learn section.
Frequently asked questions
Is 999 gold the same as 24 carat?
In everyday use, yes. 24 carat means 24 parts out of 24 are gold, and 999 is the purest standard most products are made to. UK hallmarking law lists 999 as its highest gold standard, and the US Mint describes its .9999 fine Buffalo coin as 24-karat gold. See what is 24 karat gold for the full karat chart.
What is the difference between 999 and 999.9 gold?
999 means at least 99.9% gold. 999.9, often called four nines, means at least 99.99% gold. The difference is one part in 1,000 versus one part in 10,000 of other metals. For value, it is tiny: on a one ounce coin it is less than 0.1% of the gold content.
Is 999 gold worth more than 22 carat gold?
Per gram of metal, yes, because more of each gram is gold. Per gram of pure gold, no. A one ounce American Gold Eagle (22 carat) and a one ounce Buffalo (24 carat) both contain one troy ounce of pure gold, so their gold value is the same. The Eagle simply weighs more.
Why is 999 gold soft?
Pure gold is naturally soft and scratches easily. That is why jewellery is usually alloyed with copper or silver to make 9, 14, 18 or 22 carat gold. For bullion bars and coins kept in capsules or sealed packs, softness matters less, which is why most investment bars are 999.9.
Does the purity of my gold affect tax?
It can. In Canada and Australia, gold must be at least 99.5% pure to be free of GST, so 999 gold qualifies but 22 carat coins such as the American Eagle do not. In the UK, investment gold bars must be 99.5% pure to be VAT-free. US sales tax depends on your state.
How can I tell if my gold is really 999?
Buy from a reputable dealer or mint, and look for the refiner's name, weight and fineness stamped on the bar, ideally from an LBMA-accredited refiner. Sealed assay cards add a serial number. Our guide on how to tell if gold is real covers simple checks.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- US Mint: Bullion coin programs (Eagle 91.67% gold, 22-karat; Buffalo .9999 fine, 24-karat)
- Assay Office London: Hallmarking guidance leaflet (gold standards 999, 990, 916.6, 750, 585, 375)
- LBMA: Good Delivery technical specifications (minimum fineness 995.0)
- The Perth Mint: Cast bars (99.99% pure gold)
- HMRC VAT Notice 701/21: Investment gold (bars of 995 fineness or more)
- Canada Revenue Agency: GST/HST Memorandum 17-1, precious metals
- Australian Taxation Office: GSTR 2003/10, precious metal for GST
- FTC Jewelry Guides, 16 CFR 23.3 (unqualified 'gold' means 24 karat)
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.