When an ounce is not an ounce
Precious Metals and the Troy Ounce
In my 30 plus years of buying precious metals, I have found that many people do not realize that Gold, Silver, Platinum and Palladium are weighed in Troy Ounces. Most everything else (items at the grocery store, for example) is weighed in Avoirdupois Ounces.
An example that I frequently use is that Ounce of gold weighs 31.1 grams and an Ounce of cheese weighs 28.3 grams.
What Is a Troy Ounce?
A troy ounce is a unit of measure used for weighing precious metals, (such as gold, silver, platinum, and palladium), that dates to the Middle Ages. Originally used in Troyes, France, one troy ounce is equal to 31.1035 gram.
A standard ounce, used to weigh other items such as sugar and grain, is slightly less at 28.35 grams.
Troy ounce is the standard unit of measurement in precious metals market ensuring purity standards and other common measures remain consistent over time. The troy ounce is often abbreviated to read "t oz" or "oz t".
Why Sell to Rancho Gold & Jewelry?
Rancho Gold & Jewelry's staff has the experience and equipment to determine the value of any precious metal material.
Not sure what you have, bring to us and we will test it for free!
Visit us or call us at 702-626-0000 today and we would happy to answer any questions.
- by: Admin
- 06 Apr, 2018
- 2542 views