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One-troy-ounce (480 gr; 31 g) samples of germanium, iron, aluminium, rhenium and osmium A Good Delivery silver bar weighing 1,000 troy ounces (83 troy pounds; 31 kg) Troy weight is a system of units of mass that originated in the Kingdom of England in the 15th century [ 1 ] and is primarily used in the precious metals industry.
As of July 24, the spot price is $2,397.50 per troy ounce. A troy ounce equals 1.097 standard ounces, or about 10 percent more, and it’s the standard measure for the weight of gold.
Many of the referenced articles discuss gold quantities in dollars. The convention in these articles was to use the statutory rate to translate troy ounces to dollars. I have used these conversion rates to translate back to troy ounces. Before January, 1934 the conversion rate was $20.67/oz. Afterwards It was $35/oz until 1972.
A troy ounce (abbreviated oz t) is equal to 480 grains. Consequently, the international troy ounce is equal to exactly 31.1034768 grams. There are 12 troy ounces in the now obsolete troy pound. Today, the troy ounce is used only to express the mass of precious metals such as gold, platinum, palladium, rhodium or silver.
The conversion rates 1 solidus = 24 carats, 1 carat = 4 grains still stand. [16] Woolhouse's Measures, Weights and Moneys of All Nations [ 17 ] gives gold fineness in carats of 4 grains, and silver in troy pounds [ 17 ] of 12 troy ounces of 20 pennyweight each.
sixteenth of an ounce (possibly originated as the weight of silver in Ancient Greek coin drachma) Ounce (oz) ≈28.35 g: 1 oz = 16 dr = 437.5 grains Pound (lb) ≈453.6 g: 1 lb = 16 oz = 7000 grains ('lb' is an abbreviation for the Ancient Roman unit libra) Stone (st) 6.35 kg: 1 st = 14 lb (see Stone (unit) for other values) Quarter (qr) 12.7 kg
For example, 1 troy ounce of 18 karat gold (which is 750 ‰ gold) may be said to have a fine weight of 0.75 troy ounces. Most modern government-issued bullion coins specify their fine weight. For example, the American Gold Eagle is embossed One Oz. Fine Gold and weighs 1.091 troy oz.
The apothecaries and troy pounds are divided into 12 ounces (of 480 grains) while the avoirdupois pound has 16 ounces (of 437.5 grains). The unit of volume, the gallon , has different values in the United States and in the United Kingdom – the US fluid gallon being about 0.83 imperial gallons and the US dry gallon being about 0.97 imperial ...