Provided is a coil component and a method of manufacturing the coil component less prone to aggregation of metal fillers contained in an external electrode. The coil component includes: a base body; a conductor wound around a coil axis; and an external electrode provided on a surface of the base body and electrically connected to an end portion of the conductor, wherein the external electrode includes an electrode layer containing a plurality of first fillers, a plurality of second fillers, and a resin, wherein at least a part of the plurality of second fillers is bonded by metallic bond to at least adjacent one of the plurality of first fillers and/or at least adjacent one of the others of the plurality of second fillers, and wherein each of the plurality of second fillers has a flat shape.