Live melt value for 22K gold — 91.67% pure gold (916, 917, 22K, 22ct)
22K gold contains 22 parts gold per 24 — 91.67% pure gold — with the remaining 8.33% composed of copper and/or silver depending on the application. It is the karat of the world's most traded gold bullion coins (the Krugerrand and American Gold Eagle), the standard for Indian and South Asian fine jewelry, and the highest karat commonly used for wearable items. The small alloy fraction exists purely for hardness — 22K is approximately ~90 HV Vickers, hard enough to resist scratching in jewelry and to survive minting and handling for coins, unlike pure 24K (~25 HV) which deforms easily.
| Weight | Pure Gold Content | At $3,000/oz | At $3,200/oz |
|---|---|---|---|
| 1 gram | 0.9167 g | $88.42 | $94.31 |
| 1 DWT (pennyweight) | 1.4256 g | $137.50 | $146.67 |
| 5 grams | 4.584 g | $442.10 | $471.57 |
| 10 grams | 9.167 g | $884.20 | $943.07 |
| 1 Sovereign (7.9881g total) | 0.2354 ozt | $706.14 | $753.22 |
| 1 troy oz (31.1g) | 0.9167 ozt | $2,750.10 | $2,933.44 |
| 1 Krugerrand / Eagle (33.93g total) | 1.0000 ozt | $3,000.00 | $3,200.00 |
Krugerrand and Eagle melt value = exactly spot price, since each 1 oz coin contains exactly 1.0000 troy oz of pure gold.
Both stamps indicate 22K gold, but they reflect different rounding conventions of the same underlying fraction. The exact purity is 22 ÷ 24 = 91.666...% (repeating). Converting to millesimal fineness: 0.91666... × 1000 = 916.66...
"916" rounds down to 916 parts per thousand (91.6%) — this is the standard adopted by India's Bureau of Indian Standards (BIS) as the national 22K hallmark, mandatory for most gold jewelry sold in India since January 2021. When Indian jewelry is stamped "BIS 916," that number means exactly this.
"917" rounds up to 917 parts per thousand (91.7%). Some Western mints and manufacturers use 917 instead. The difference between a "916" piece and a "917" piece is 0.1 parts per thousand — approximately 0.001 grams of gold per 10 grams of metal, negligible for any transaction. Use 0.9167 as the purity decimal for both in melt value calculations.
The Krugerrand was first issued by the South African Mint on July 3, 1967 — making it the first coin in history designed specifically for gold investment rather than monetary circulation. It is named for Paul Kruger, President of the South African Republic from 1883 to 1900 (obverse portrait), combined with "rand," the South African currency. The reverse features a springbok antelope.
Alloy composition: 91.67% gold + 8.33% copper — zero silver. The copper-only alloy gives the Krugerrand its distinctive warm reddish-gold tint, noticeably different from coins that include silver. The 1 oz coin has a total weight of 33.930 grams and contains exactly 1.0000 troy ounce of pure gold — its melt value at any spot price is simply the spot price itself, no purity adjustment needed.
By 1980, Krugerrands represented approximately 90% of the global gold coin market. Western countries' anti-apartheid sanctions banned Krugerrand imports in the mid-1980s (the US ban was enacted in 1985 under the Comprehensive Anti-Apartheid Act), directly spurring the creation of the American Gold Eagle in 1986 to fill the investment coin market. The import ban was lifted in 1994 following South Africa's democratic transition.
The American Gold Eagle was authorized by the Gold Bullion Coin Act of 1985, signed by President Reagan, and first minted by the West Point Mint in 1986. Its alloy is 91.67% gold, 3% silver, 5.33% copper — the silver fraction moderates the reddish tone of the copper alloy, producing a slightly different color from the Krugerrand. The 1 oz Eagle has a total weight of 33.931 grams and contains exactly 1.0000 troy ounce of pure gold.
The Eagle is available in four sizes: 1 oz (33.931g), 1/2 oz (16.966g), 1/4 oz (8.483g), and 1/10 oz (3.393g) — each containing their stated fraction of pure gold. The obverse design features Augustus Saint-Gaudens' Walking Liberty (adapted from the 1907–1947 half dollar); the reverse features a family of eagles by sculptor Miley Busiek.
Critical IRA point: American Gold Eagles are explicitly named in IRC Section 408(m)(3)(A) as IRA-eligible, making them one of the only 22K items that qualifies for a self-directed precious metals IRA — an exception to the standard .995 fineness requirement. This is the statutory carve-out that makes Eagles more liquid in IRA contexts than even some 24K products.
The British Gold Sovereign has been in continuous production (with interruptions) since 1817, making it the longest-running gold coin in modern history. Its alloy is identical to the Krugerrand: 91.67% gold + 8.33% copper. Each standard Sovereign contains exactly 0.2354 troy ounces (7.3224 grams) of pure gold at a total coin weight of 7.9881 grams.
The reverse has featured Saint George slaying the dragon — designed by Benedetto Pistrucci for the original 1817 coin — continuously to the present day with minor modifications. The obverse portrait changes with each monarch. Sovereigns were carried by RAF aircrew in World War II as emergency escape currency. Half Sovereigns (0.1177 oz pure gold) and Double Sovereigns also exist. To calculate melt value: enter 7.9881 grams at 22K in the calculator above, or multiply spot price by 0.2354.
India is the world's second-largest gold consumer after China, importing roughly 700–900 tonnes annually in normal years. Its jewelry market is overwhelmingly 22K, driven by a cultural tradition of using gold jewelry as liquid household savings — particularly important in rural communities with limited banking access. The Bureau of Indian Standards (BIS) mandatory hallmarking scheme, which made 916 hallmarks compulsory for most gold jewelry sold in India effective January 2021, replaced a voluntary system and now covers hundreds of thousands of retail jewelry businesses.
A BIS-hallmarked Indian piece carries: the BIS logo (a triangle), the fineness mark (916 for 22K), the Hallmarking Centre's identification mark, and the jeweler's identification. When evaluating Indian gold jewelry with a "916" stamp and BIS hallmark, the gold content is verified by India's government-accredited testing system — it trades at full 22K melt value without further testing in most Indian and South Asian markets.
| Karat | Purity | Stamp(s) | IRA-Eligible? | Primary Use |
|---|---|---|---|---|
| 24K | 99.99% | 999 / 9999 | Yes (bars ≥.995) | Bullion bars, Maple Leaf, Buffalo |
| 22K | 91.67% | 916 / 917 | Eagles only (§408(m)(3)(A)) | Krugerrand, Gold Eagle, Sovereign, Indian jewelry |
| 18K | 75.00% | 750 | No | European fine jewelry, Swiss watches |
| 14K | 58.33% | 585 | No | US engagement rings, fine jewelry |
| 10K | 41.67% | 417 | No | US budget jewelry, class rings |
Live melt value is in the calculator above, updated every 60 seconds. Formula: spot price ÷ 31.1035 × 0.9167. At $3,200/oz: $94.31/gram. At $3,000/oz: $88.42/gram. At $2,800/oz: $82.52/gram. Note: a 1 oz Krugerrand or Eagle contains exactly 1.0000 troy oz of pure gold, so its melt value = the spot price directly.
Both are 22K gold — just different rounding of the same repeating decimal. 22 ÷ 24 = 91.666...%. "916" rounds down to 91.6% (used by India's Bureau of Indian Standards as the mandatory national 22K hallmark since 2021). "917" rounds up to 91.7% (used by some Western mints). The gold content difference between a "916" and "917" piece is 0.001 grams per 10 grams — negligible. For all melt value calculations, use 0.9167 for both.
The Krugerrand was first issued by the South African Mint on July 3, 1967 — the world's first modern gold bullion coin. Named for President Paul Kruger (1883–1900) + "rand." Alloy: 91.67% Au + 8.33% Cu (no silver — the copper-only alloy creates the distinctive reddish tint). Total weight: 33.930 grams. Pure gold content: exactly 1.0000 troy oz. Because it contains exactly one troy oz of fine gold, its melt value = spot price directly. By 1980, Krugerrands were ~90% of the global gold coin market.
Yes — and this is the key IRA exception for 22K gold. Under IRC Section 408(m)(3)(A), American Gold Eagles are explicitly named as IRA-eligible — a specific statutory exception that overrides the standard .995 fineness requirement in §408(m)(3)(B). Eagles authorized by the Gold Bullion Coin Act of 1985 (first minted in 1986) qualify for self-directed precious metals IRAs in all four sizes (1 oz, 1/2 oz, 1/4 oz, 1/10 oz). Krugerrands, Gold Sovereigns, and 22K jewelry do NOT qualify. Eagles are the only 22K gold product with IRA eligibility.
Each standard Gold Sovereign contains exactly 0.2354 troy ounces (7.3224 grams) of pure gold at a total coin weight of 7.9881 grams, in the same 22K alloy (91.67% Au + 8.33% Cu) as the Krugerrand. In production since 1817, it's one of the longest-running coins in history — the same Pistrucci Saint George reverse design from 1817 is still used today. To calculate melt value: multiply spot price by 0.2354, or enter 7.9881g at 22K in the calculator above.
India is the world's second-largest gold consumer and its jewelry market is overwhelmingly 22K. The preference reflects a cultural tradition of using gold jewelry as liquid household savings — particularly in rural areas with limited banking access — where high karat means more recoverable value. India's Bureau of Indian Standards (BIS) mandatory hallmarking scheme, effective January 2021, made the "916" stamp (with BIS logo, fineness, and hallmarking center code) compulsory for most gold jewelry sold in India. A BIS 916-hallmarked piece trades at full 22K melt value without additional testing in South Asian markets.
Compare the live price per gram across all common gold purities at today's spot price.
| Karat | Purity | Common Use | |
|---|---|---|---|
| 24K Gold | 99.99% | Bars, bullion coins | 24K Gold Price Per Gram → |
| 22K Gold | 91.67% | Krugerrands, Eagles | 22K Gold Price Per Gram → |
| 18K Gold | 75.00% | Fine jewelry | 18K Gold Price Per Gram → |
| 14K Gold | 58.33% | US jewelry standard | 14K Gold Price Per Gram → |
| 10K Gold | 41.67% | Entry-level jewelry | 10K Gold Price Per Gram → |