Troy Weight
Troy weight is a system of weights that is primarily used to measure precious metals, including gold, silver, and platinum. This system of measurement is distinct from the more commonly used avoirdupois system, particularly in terms of the weight of the ounce. In the troy system, a pound contains 12 ounces, and each troy ounce is equivalent to 480 grains. This makes the troy ounce approximately 10% heavier than the standard avoirdupois ounce, which is 437.5 grains.
Examples
- Gold: When valuing gold, its weight is measured in troy ounces. For instance, if a gold coin weighs 1 troy ounce, it means it weighs 480 grains.
- Silver: Silver bars and bullion typically have their weights stated in troy ounces. A 100-ounce silver bar would equate to 100 troy ounces.
- Platinum: Similar to gold and silver, platinum is also measured using the troy weight system, ensuring consistent valuation in the precious metals market.
Frequently Asked Questions
What is the origin of the term “troy”?
The term “troy” is believed to have been derived from the French market town of Troyes, which was an important trading center during the Middle Ages.
How many grains are in a troy pound?
There are 5,760 grains in a troy pound. Given that there are 12 troy ounces in a troy pound, and 480 grains per troy ounce, the total grain count is 480 x 12.
Why is the troy weight system used for precious metals?
The troy weight system has been a long-standing standard in the trading of precious metals due to its historical roots and precision in measuring smaller units, which is essential for high-value commodities.
Is troy weight used for anything other than precious metals?
Troy weight is predominantly used for precious metals and sometimes gemstones. It is not commonly used for other types of goods or everyday items.
How does a troy ounce compare to an avoirdupois ounce?
A troy ounce is about 10% heavier than an avoirdupois ounce. Specifically, a troy ounce is 480 grains, whereas an avoirdupois ounce is 437.5 grains.
Related Terms
- Avoirdupois Weight: A system of weights used for everyday goods, based on a pound of 16 ounces, where each ounce is 437.5 grains.
- Grain: The smallest unit in the troy, avoirdupois, and apothecaries’ systems, approximately equivalent to 0.0648 grams.
- Precious Metals: Rare, naturally occurring metallic chemical elements of high economic value, such as gold, silver, and platinum.
Online References
Suggested Books for Further Studies
- “Precious Metals Investing For Dummies” by Paul Mladjenovic
- “A Guide to Understanding How to Value Precious Metals” by Philip Gotthelf
- “Gold: The Once and Future Money” by Nathan Lewis
Fundamentals of Troy Weight: Measurement Systems Basics Quiz
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