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A pennyweight (dwt) is a unit of mass equal to 24 grains, 1 ⁄ 20 of a troy ounce, 1 ⁄ 240 of a troy pound, approximately 0.054857 avoirdupois ounce [1] and exactly 1.55517384 grams. [2] It is abbreviated dwt, d standing for denarius – (an ancient Roman coin), and later used as the symbol of an old British penny (see £sd).
The decimal dollar had already been agreed upon in principle ... = 1/24 pennyweight pennyweight = 1/18 ounce ounce = 1/1000 ... 0.938 oz Pound 10 2.6587 hg 9.38 oz ...
The troy weight units are the grain, the pennyweight (24 grains), the troy ounce (20 pennyweights), and the troy pound (12 troy ounces). The troy grain is equal to the grain unit of the avoirdupois system, but the troy ounce is heavier than the avoirdupois ounce, and the troy pound is lighter than the avoirdupois pound. Legally, one troy ounce ...
Another difference arose when Britain abolished the troy pound (373.241 7216 g) on 1 January 1879, leaving only the troy ounce (31.103 4768 g) and its decimal subdivisions, whereas the troy pound (of 12 troy ounces) and pennyweight are still legal in the United States, although they are no longer widely used.
Precious metals, for example, are often weighed in "troy ounces", because just "ounce" would be more likely to be assumed to mean an avoirdupois ounce. For the pound and smaller units, the U.S. customary system and the British imperial system are identical. However, they differ when dealing with units larger than the pound.
In either case, a London bushel was reckoned to contain 64 pounds, 12 ounces, 20 pennyweight, and 32 grains. These measures were based on the relatively light tower pound and were rarely used in Scotland, Ireland, or Wales during the Middle Ages.
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In what follows, "dollar" will be used as a unit of mass. A troy pound being 5760 grains and a pennyweight being 240 times smaller, or 24 grains, the geometric mean is, to the nearest hundredth, 371.81 grains. This means that the ratio of a pound to a dollar (15.52) roughly equals the ratio of a dollar to a pennyweight (15.47).