How this price is calculated
There is no separate exchange quote for individual alloys. Every karat price is derived from the fine gold rate, and the arithmetic is fully open:
Every figure on this page comes from exactly this formula.
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What defines 916 gold
916 parts gold per 1,000 of alloy — 22 karat. Typical composition is 91.6 % gold, about 5.5 % copper and 2.9 % silver. Some sources state 916.7, because 22/24 is exactly 0.91666; in trade both figures are used interchangeably.
The relatively high copper content has two effects. Visually it produces the deep, slightly reddish tone by which experienced buyers recognise a Krugerrand. Mechanically it roughly quadruples hardness over fine gold to around 110 HV — enough for a bullion coin to survive decades of storage and handling without every touch leaving a dent.
Density is about 17.8 g/cm³, noticeably below fine gold's 19.32. For coins of known specification that is a useful check: a Krugerrand weighs 33.93 g gross and contains exactly one troy ounce of gold — the extra weight is alloy.
Where 916 gold trades
Krugerrand. The most traded gold coin in the world and the German classic. Struck to unchanged specification since 1967: one troy ounce of fine gold in 916 alloy, 33.93 g gross. Its ubiquity produces a very liquid secondary market and correspondingly tight spreads.
British Sovereign. 7.98 g gross containing 7.32 g of fine gold, struck since 1817. Historic dates can carry a collector premium; standard years simply trade at gold value.
Turkish and Arabic coins. Reşat and Ata lira and Ziynet pieces are widespread in Germany through the Turkish community, particularly as wedding gifts. They trade in grams and in multiples such as Çeyrek (quarter), Yarım (half) and Tam (full).
Indian and Arabic jewellery. 22 karat is the bridal jewellery standard across India, Pakistan and much of the Middle East. In Germany such pieces usually reach the scrap gold market and are valued by fineness, not by workmanship.
Buying 916 gold
On the one-ounce Krugerrand the German retail premium is typically 3–6 % over intrinsic value — comparable to fine gold coins of the same size. Fractional sizes (1/2, 1/4, 1/10 oz) cost proportionally much more, up to 10 % and beyond on the tenth-ounce.
When buying Turkish lira pieces, check whether you are buying bullion or worked goods. Ziynet jewellery often carries a workmanship charge (İşçilik) that is entirely lost on resale. Plain bullion coins without bail or mount are the cheaper route if capital preservation is the goal.
For VAT exemption under § 25c UStG a gold coin must be at least 900/1000 fine, minted after 1800, be or have been legal tender in its country of origin, and sell at no more than 180 % of gold value. Krugerrand and Sovereign qualify. A 916 bangle does not — jewellery is not a coin and attracts 19 % VAT.
Selling 916 gold
Known bullion coins are straightforward: the dealer identifies the issue, weighs to confirm, and pays typically 94–97 % of intrinsic value. No assay is needed because the specification is known.
916 jewellery without a mark is different. It is tested by XRF or acid streak, and refining charges apply. Realistic payout falls to 90–95 % of fine gold value. Mounts, stones and clasps in other materials are deducted, not paid for.
A frequent misunderstanding with Ziynet gold: the workmanship charge paid at purchase is not part of intrinsic value and is not refunded on sale. Anyone treating 22-karat bridal jewellery as an investment should budget for that gap from the outset.
What a dealer actually pays out
Intrinsic value is the ceiling, not the payout. Buyers deduct refining charges and keep a trading margin. The range below is realistic for this fineness:
| Item | per gram | for 10 g |
|---|---|---|
| Intrinsic value (fine gold content) | €112.53 | €1,125.32 |
| Realistic payout — upper end −3.0 % | €109.16 | €1,091.56 |
| Realistic payout — lower end −8.0 % | €103.53 | €1,035.30 |
Rule of thumb: get at least two written quotes and watch the item being weighed. A reputable buyer states the fine gold rate used, the weight in grams and the deduction as separate lines — a single lump sum is impossible to compare.
German tax treatment of 916 gold
Bullion coins: 0 % VAT. Krugerrand, Sovereign, Ata lira and comparable issues meet the investment gold requirements of § 25c UStG and are VAT-exempt, on purchase and sale alike.
Jewellery: 19 % VAT. A 916 bangle or chain is not a bullion coin. New goods attract the standard rate. In the second-hand trade a dealer may apply the margin scheme under § 25a UStG, taxing only the margin, which lowers the final price.
Gains tax-free after one year. As with all physical gold, § 23 EStG applies: hold for more than a year and the gain is income-tax free. Below that, the €1,000 per calendar year threshold applies — as a threshold, not an allowance.
Testing 916 gold
Weight and dimensions. The fastest check on standardised bullion coins. A genuine Krugerrand weighs 33.93 g ± 0.09 g at 32.77 mm diameter and 2.84 mm thickness. Fakes almost always miss at least one of these, because weight and volume cannot both be matched with base metal.
Ping test. A genuine gold coin balanced on a fingertip and struck rings with a long, bright tone. Base cores audibly damp it. Useless alone, useful as a quick screen.
X-ray fluorescence. Determines the fineness of jewellery non-destructively. On plated goods it reads only the surface — if in doubt, have an inconspicuous spot filed and streak-tested.
Reading the mark. Common stamps are 916, 916.7 or 22K. Germany has no compulsory hallmarking, so a missing stamp is not proof of a fake — and a present stamp is not proof of authenticity.
Common mistakes with 916 gold
- ⚠Confusing workmanship charge with intrinsic value. Ziynet buyers pay İşçilik but are only paid fine gold on exit. That gap can be 15–25 %.
- ⚠Collecting fractional sizes. Ten tenth-ounce Krugerrands cost substantially more in premium than one ounce and fetch no more on sale.
- ⚠Assuming collector value. Only a few dates and special issues carry a genuine numismatic premium. Standard years trade at gold value however old they look.
