There are different ounces
Ounce of Gold or Troy Ounce of Gold - What's the Difference?
- Troy ounce: 31.1034768 grams
- Standard weight measurement for pure precious metal
- Basis of precious metal price quotations on the stock exchange
- Also an important standard in the coin trade
- Ounce: Generic term for various weights
What exactly does troy ounce mean?
The troy ounce (English: troy ounce, abbreviated oz.tr.) is now the internationally standardized standard measure of weight for precious metals. Precious metal prices are quoted in this unit of weight and in dollars. In addition, the troy ounce as a unit is popular in trade. Especially when it comes to investment coins, the troy ounce is considered the classic par excellence.
This weight measure originally comes from antiquity. For the Romans this was 27.2875 grams. As a result, the ounce was used in many regions and for various purposes, sometimes with different weights, for example for weighing grain, as a pharmacist's ounce, or as a liquid ounce for perfumes.
In English-speaking countries, the "common ounce" (= "avoirdupois ounce") is still occasionally used as a unit of weight for food. It is 28.35 grams.
Ounce and Troy Ounce: What's the Difference?
The 1 ounce Krugerrand has been the most popular gold coin for years. Like many other investment coins, this coin is also available as 1/2 ounce, 1/4 ounce, 1/10 ounce or 1/20 ounce:Denominations of one troy ounce of gold in comparison: Krugerrand (1/10, 1/4, 1/2, 1 oz) and Maple Leaf additionally with 1/20 oz.
For precious metal bars, metric weight classes are more common, i.e. information in grams or kilos. Ounce units are also available. There are other bar weight classes in fractions or multiples on an ounce basis, but gold is more exotic. Only the 1 ounce gold bar has actually prevailed on the market.
Worth mentioning are the 400-ounce gold bars, also known as "Good Delivery" bars. That translates to almost 12.5 kg of pure gold. Thus, a value that is unlikely to be affordable for very few private investors.
Also worth mentioning in the case of silver are the 1000 ounce silver bars. However, with the equivalent of over 31 kg, these already have a considerable weight.
Where is the best place to buy 1 ounce of gold?
In addition, all dealers listed in the GOLD.DE price comparison bear the "GOLD.DE-certified" seal. It ensures the best possible security when buying gold. More: The GOLD.DE seal
Difference between troy ounce and fineness
Examples of such percentage values: 333 gold, 585 gold or 999 gold. The latter would be practically pure gold. More: Fineness and carat - simply explained
Rough weight and fine weight
Information in troy ounces relates exclusively to pure precious metal. For example, the 1 oz Krugerrand contains exactly 1 ounce of pure gold, i.e. 31.1034768 grams, but the total weight is higher. The reason is that around 2.83 grams of copper are added to the Krugerrand.
So the 1 ounce Krugerrand is a gold alloy. Therefore, the rough weight is higher than the weight of the troy ounce of gold it contains. The total weight of the 1 ounce Krugerrand is around 33.93 grams, but the 2.83 grams of copper additions are practically irrelevant to the price.
Gold coins can therefore have different gold proportions up to 999.9 per thousand, which is practically pure gold. The following applies only to 999.9 gold coins: 1 ounce of gold = total weight of the coin. However, 999.9 coins are sensitive to scratches because pure gold is very soft. More: gold alloys
|Gold coin||alloy||Fine weight||Gross weight||Material hardness|
|Vreneli||900 per mille||5.8 g||6.5 g||very hard|
|Krugerrand||916.6 per mille||31.1 g||33.9 g||hard|
|Ducats||986 per mille||3.4 g||3.5 g||soft|
|Maple Leaf||999.9 per mille||31.1 g||31.1 g||very soft|
Gold bars almost always have a gold content of 999.9 per mille.
Conversion table ounce - gram
|Ounces worth||in grams (rounded)||in grams (exactly)|
|1/50 oz||0.6 g||0.622069536 g|
|1/20 oz||1.6 g||1.55517384 g|
|1/10 oz||3.1 g||3.11034768 g|
|1/8 oz||3.9 g||3.8879346 g|
|1/4 oz||7.8 g||7.7758692 g|
|1/2 oz||15.6 g||15.5517384 g|
|1 oz||31.1 g||31.1034768 g|
|2 oz||62.2 g||62.2069536 g|
|5 oz||155.5 g||155.517384 g|
|10 oz||311.0 g||311.034768 g|
|12 oz||373.2 g||373.2417216 g|
|400 oz||12.4 kg||12,441.39072 g|
|1000 oz||31.1 kg||31,103.4768 g|
Use the ounce to gram weight converter
- Has discord a discord
- Real estate agents use social media
- How is the Rockrider ST 100 bike
- Has Harvard removed their free online courses
- Which country is culturally closest to China
- What are popular gifts for Mother's Day
- Which factors determine the gender of the future child?
- Why do people eat animals
- Photons exert power on a mirror
- How many Americans think Jesus is American
- Curious people live longer
- Why do Gatling cannons spin
- What do teachers do
- There is a 4 dollar bill
- Which cancer has the best prognosis?
- Who can learn SAP FICO
- What does Genesis 29
- What causes sexual attraction
- Eats Halal Pork Haram
- Are Muslims more religious than Christians
- Why Indonesian cuisine is tasteless 1
- What are some useful wizard selection techniques
- How harmful are cigars compared to cigarettes
- Where can I share my poems