Precious Metals Weight Guide

Silver, Gold, and Other Precious Metals Weight – The Ultimate Guide

When buying and selling precious metals, it is important to understand the measuring systems when it comes to weights. Many people believe that the system used is the same as the one we would find in the grocery store. i.e. grams and ounces.

However, when it comes to precious metals, the story is different. So, if you want to know how much 10 oz of gold is worth, then a great starting point is understanding how the weighing system works with precious metals.  

Don’t worry if this sounds confusing. We have put together the ultimate precious metals weight guide. Below you will find all the information you need to buy and sell precious metals with all the confidence of a pro!

10 Things you Must Know About the Troy Ounce

When it comes to buying and selling precious metals, it is typically the troy weight system that is used. Most people have heard of the troy system. It includes the troy ounce, pennyweights, and the troy pound.

This section tells you everything you need to know about the troy weight system.

  1. The Troy Ounce is not the same as the Avoirdupois Ounce – The Avoirdupois Ounce is the one we are most familiar with. This is what we use when we measure out flour at home or buy normal products from the shop. However, the troy ounce is about 10 per cent more than this.

One troy ounce contains 2.75 grams more than a regular ounce. To be exact, one regular ounce is 28.35 grams, while a troy ounce is 31.1 grams.

  1. It is an ancient weight system – The history of the troy weight system is not completely known. But what we do know for sure is that it has been in use since the Middle Ages. One theory is that it was developed in the town of Troyes in France. This was a trade market that attracted merchants from around the world, and it is believed the system was introduced as a standardised weight system.
  2. Grains are a measure in the troy system – The troy weight system is comprised of the following measures: 
  • 24 Troy Grains = 1 Pennyweight
  • 20 Pennyweights = 1 Troy Ounce
  • 12 Troy Ounces = 1 Troy Pound
  1. It is used primarily as a system for precious metals – Gold, platinum, and silver are all measured using the troy weight system.
  2. Metric Equivalents – 1 troy ounce is the equivalent of slightly over 31 grams. (31.1035 to be precise)
  3. How to convert to grams – Converting to grams is easy. Just multiply the value in troy grams by 31.10235. The example below shows more about how this is done.

If you want to know how much a 10 troy oz of gold weighs in grams, use the following calculation:  

  • 10 x 31.1035 = 311.035 grams
  1. How to convert to pounds – To convert troy ozs to pounds, follow the calculation below. For this example, we have used a 100 oz gold bar:  

To calculate the weight of a 100 oz gold bar in pounds, you need to divide the weight of the gold by 14.5833.

  • 100/14.5833 = 6.86 pounds (rounded to the second digit)
  1. How to convert troy ounces to kilograms – Working out pure gold weight in kilograms can be done using the following calculation: 

One kilogram is the equivalent of 32.1507 troy ounces. So, to convert the weight of gold bullion (or any other precious metal) to kilograms, you need to divide the weight of the precious metal by 32.15.  

This example looks at a gold bullion bar that weighs 32.15 troy ounces:

  • 32.15/32.15 = 1, so this rather simple calculation is useful as it shows that a 32.15 troy-ounce gold bar is the equivalent of a 1kg or 1000-gram gold bar.
  1. The US has used the troy ounce since 1828 – Although the UK has used it since 1527, the US didn’t adopt it as the standardised system for weighing precious metals until 1828.
  2. It is the standard weight system for precious metals – Unless otherwise stated, the denoted weight of precious metal will use the troy weight system.
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