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The troy pound (lb t) consists of twelve troy ounces [15] and thus is 5 760 grains (373.241 72 grams). (An avoirdupois pound is approximately 21.53% heavier at 7 000 grains ( 453.592 37 grams), and consists of sixteen avoirdupois ounces).
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.
Additionally, the kilobar, weighing 1,000 grams (32.15 troy ounces), and the 100-troy-ounce (109.7-ounce; 6.9-pound; 3.1-kilogram) gold bar are popular for trading and investment due to their more manageable size and weight. [1] These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and ...
A troy ounce equals 1.097 standard ounces, or about 10 percent more, and it’s the standard measure for the weight of gold. A pound is equal to 16 standard ounces, so even a small amount of gold ...
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).
A possible source of confusion is that gold is often priced on the open market in the more traditional troy ounce (one troy ounce is exactly 31.1034768 grams, which is larger than the avoirdupois ounce generally in use in the United States and has a mass of 28.35 grams).
It is equal to 10 candareens and is 1 ⁄ 10 of a tael or approximately 3.78 grams. A troy mace is approximately 3.7429 grams. In Hong Kong, one mace is 3.779 936 375 grams. [2] and in Ordinance 22 of 1884, it is 2 ⁄ 15 ounces avoirdupois. In Singapore, one mace (referred to as chee) is 3.779 94 grams. [4]
This system does not measure mass, it measures weight (as the name implies). For example, an item which measures 1 troy ounce on earth will not measure 1 troy ounce on the moon or in free space (because an ounce measures weight). By comparison, 1 gram of a substance will measure 1 gram everywhere in the universe (because it measures mass).