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Bullion gold coins of 22 karat are available in U.K and U.S.A and are made of crown gold. Such coins were first introduced in England by Henry VII in 1526. The reason behind this introduction was the constant rising pressure of the costs on the state mint. Initially the gold sovereign coins were of 23 karat gold. Though the gold coins were introduced in the 16th century, they still are a gold standard for British and American gold coins. In the rest of the bullion coins, 24 karat gold is usually used which is .9999 fine as opposed to 22 karat gold which is 0.91667 fine. Copper is the main metal used in the alloy but sometimes silver is also used. These days, to keep up with the general circulation, crown gold coins are not widely in use in the current bullion market. But legally Gold British Sovereigns and American Gold Eagles are bullion coins which are permitted to be made of crown gold. The reason behind the change in the usage of 23 karat gold to 22 karat in the bullion coins is that the 23 karat gold coins were too soft and deliberate fillings were needed for the coins.
Crown gold had made its appearance in the Victorian age and in the 21st century it is still being used in the bullion market. The usage is limited these days and is confined to the most developed countries in the world such as America and Britain where crown gold is being used in some of their bullion coins.
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