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The only troy weight in widespread use is the British Imperial troy ounce and its American counterpart. Both are based on a grain of 0.06479891 gram (exact, by definition), with 480 grains to a troy ounce (compared with 437 + 1 ⁄ 2 grains for an ounce avoirdupois). The British Empire abolished the 12-ounce troy pound in the 19th century.
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). Kilogram gold prices are commonly used by the Zurich Gold Pool where 1,000 ...
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 ...
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(A kilogram bullion bar contains 32.151 troy ounces.) For historical measurement of gold, a fine ounce is a troy ounce of pure gold content in a gold bar, computed as fineness multiplied by gross weight [5] a standard ounce is a troy ounce of 22 carat gold, 91.66% pure (an 11 to 1 proportion of gold to alloy material)
The avoirdupois weight system is thought to have come into use in England around 1300. [citation needed] It was originally used for weighing wool. In the early 14th century several other specialized weight systems were used, including the weight system of the Hanseatic League with a 16-ounce pound of 7200 grains and an 8-ounce mark.
A piece of alloy metal containing a precious metal may also have the weight of its precious component referred to as its "fine weight". 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.
Gold dinar of Umayyad Caliph Abd al-Malik ibn Marwan, minted at Damascus, Syria in AH 75 (697/698 CE), having a weight of almost 1 mithqāl (4.25 grams). Mithqāl (Arabic: مثقال) is a unit of mass equal to 4.25 grams (0.137 ozt) which is mostly used for measuring precious metals, such as gold, and other commodities, like saffron.