What is a troy ounce?
When you buy Precious Metals like Gold and Silver, you might have seen two weight measurements used, a troy ounce and an ounce. In general, the troy ounce is commonly used for Precious Metals instead of the traditional and more familiar unit, the ounce. Ounces are used for products that are more familiar to us like food or silverware. “A troy ounce is equivalent to 1/12 of a troy pound,” where a standard ounce is equivalent to 1/16 of a pound. (Gold Price)
How many grams in a troy ounce?
The troy ounce is approximately 10 percent heavier than a typical ounce, therefore the troy ounce value is higher. A troy ounce weighs in at 31.1035 grams and the traditional ounce we are accustomed to weighs 28.3495 grams. The importance of this comes in handy when you are buying from a Precious Metals retailer. Is it sold in ounces or troy ounce? This helps determine whether you are getting a true troy ounce Gold price or a true troy ounce Silver price. The price of Gold or Silver per troy ounce is vastly different than the price of a standard ounce.
The avoirdupois system, the system that provides us the traditional ounce we are familiar with, differs from the system that gives us the troy ounce and troy weight. The troy system takes into account the purity standards in the Precious Metals products. “Originally coming from the French town of Troyes,” it has been a standard of Precious Metals measurements for hundreds of years. (Bullion Vault) The conversion process of the avoirdupois ounce to the troy ounce is rather simple. Multiply the traditional ounce by .91 and you will get the troy ounce weight. The weight system can often be confusing and some Precious Metals retailers will sell you a product as a traditional ounce but charge you a troy ounce weight. Other information about the troy ounce
- This was the basis for coinage introduced by Henry II of England.
- The English adopted the system from the French during this time.
- The troy system was adopted by the U.S. Mint in 1828. (Bullion Vault)
Consider buying your Precious Metals from a trusted retailer. These products are just three of the thousands that APMEX sells at a troy ounce.
Buy Precious Metals at APMEX
It can be difficult navigating through the weight system of Precious Metals, but at APMEX, you can rest assured that every product is represented correctly by weight and quality. With a vast selection of Precious Metals coins and bars, you want to have the highest quality for the best price. You get the best value troy ounce Gold price and troy ounce Silver price on our products.
See how Gold, an ancient storehouse of wealth, plays a vital role in modern investment portfolios. Watch Video
Written to acquaint you with Precious Metals investing and all the ways APMEX helps you succeed. Read more