A coated catalyst comprising (a) an inert carrier having particles of not less than 100 .mu.m diameter and a surface area of up to 20 m.sup.2 /g and (b) a coating which contains the catalytic material and adheres firmly to the outer surface and to the edge zone, near the surface, of the carrier particles, can be prepared by applying the catalytic material as a 10-70% strength suspension in water to the agitated carrier particles, which are at below 70.degree. C., if the suspension is sprayed, at a constant rate of from 0.01 to 2.0 kg of active material/hour/liter of carrier onto the carrier particles, while at the same time uniformly passing from 0.1 to 12 m.sup.3 (S.T.P.)/hour/liter of carrier of an inert gas at from 20.degree. to 300.degree. C. over the carrier particles, under conditions such that the water only evaporates incompletely but the water content of the resulting coating is less than the maximum degree of saturation of the catalytic material.