Troy Ounces In A Pound

A Common Misconception Between Troy Ounce vs Ounce

1 of the biggest misconceptions for investors who are new to the bullion marketplace is to recollect that an ounce and a troy ounce are equal. This is not the case, and many people are frequently dislocated when their products weigh more than than one regular ounce (the avoirdupois ounce). In fact, near products are referred to in ounces but are really sold in troy ounces. The reality is that the vast majority of bullion dealers are referring to troy ounces when they say "ounces." This is the "industry standard."

This commodity volition tackle the departure between a troy ounce vs ounce, understanding the historical and applied difference betwixt ane troy ounce and a regular ounce. Why is it that the manufacture, even worldwide, still weighs precious metals in troy ounces rather than the avoirdupois ounce or even the international metric system?

History Of The Troy Ounce and The Troy Weight

Theories regarding the origin of the Troy weight system never reached a precise determination. Some believe its origin traces back all the way to the Roman budgetary system.

One of the first coinage systems in Roman times, still during the Republic, was the "Aes Grave," which was mainly composed of heavy statuary bars. I-12th of the weight of that bar was called an "uncia," or ounce.

Aes Grave

"Aes grave." Source

Nonetheless, the near accepted assumption is that the term Troy ounce originated in the French city of Troyes in the Middle Ages. Troyes developed into a merchant urban center, especially due to its strategic position in northeastern France, where information technology was intersected past many important highways used in the bullion trade past all the nations of Europe.

Soon, merchants from the local markets felt the need to establish a standard measurement unit for precious metals that would differentiate information technology from mutual measures used to buy and sell goods at the time.

Troyes remains, to this day, an important touristic city in France. It's known for being part of the Champagne vino region and for its beautiful churches and historical museums.

Troyes Cathedral

Cathedral of Saint Peter and Saint Paul in Troyes, French republic. Source

Throughout the Middle Ages, the French Troy system spread to other countries. Dissimilar versions of Troy weights coexisted around Europe, including the Holland troy and the Paris troy, with slight differences. But none would stand out every bit much every bit the British troy weight system.

During the reign of Rex Henry Five in the 1400s, the troy system was already largely in use effectually Great Britain. In 1527, England officially adopted the troy ounce as the measurement unit for aureate and silvery and the British coinage system. Later, in the 19th century, when they established the British Imperial official standard measurement system (or only the Purple units, for brusque), the troy ounce was incorporated.

From that betoken on, information technology isn't hard to deduce why the Troy ounce became the standard unit of measurement for precious metal products in many countries around the world, not just for gold and silverish simply for other precious metals as well. The British Empire colonized and incorporated a lot of territory into their Commonwealth during the Historic period of Discovery. It is no wonder that those colonized countries, even after their independence, retained cultural aspects and community from their colonizer. And the apply of Troy weights for measuring precious metal items such every bit gilt, silverish, platinum, and palladium was definitely one of those.

The United States, for instance, adopted the British Imperial Troy ounce as the official unit for measuring precious metals by an Act of the US Congress in 1828.

The Troy weighting arrangement includes the troy grain, the pennyweight (24 troy grains), the troy ounce (20 pennyweights), and the troy pound (12 troy ounces). Whereas the troy grain is equal to its namesake of the avoirdupois system, the troy ounce is slightly heavier than the avoirdupois ounce. On the other hand, 1 troy pound is lighter than the avoirdupois pound.

Read more than about how many pennyweights are in an ounce of gilt.

The Difference Between The 2 Ounce Units

1 Avoirdupois Ounce (oz) = 28.3 grams

ane Troy Ounce (Troy oz) = 31.ane grams

A troy ounce weighs almost ten% more compared to an ounce, which makes a big difference when it comes to precious metals.

one Troy ounce = one.097 ounce

As well the obvious weight differences, there is another distinction in how they are measured. Everyone knows that one regular pound corresponds to sixteen avoirdupois ounces, then a troy pound must be heavier right? Reverse to popular belief, information technology's not. In the Troy system, a troy pound is really only equal to 12 troy ounces, which ends up being lighter. Thus, in terms of weight, 1 pound of silvery is approximately 80 grams more than ane troy pound of silverish. For that reason, most bullion being traded and sold is measured in troy ounces or kilograms. This is to avert any confusion between the conversions betwixt troy ounces and troy pounds.

Bank check out our posts:

How many Grams are In an Ounce of Silverish?

and

How Many Grams Are In An Ounce of Gold?

The Importance of Buying In Troy Ounces

It is important to know what you are ownership because certain unverified dealers will sell precious metals in ounces instead of troy ounces. This small difference can make 1 product expect like a much better deal. Don't be fooled, though. If yous know and trust your source for bullion, this deception is rare and not probable something you would accept to worry about.

The best way to ensure it is in troy ounces is to buy products with their weight and purity standards engraved on them. This practise is very mutual in the industry. Nevertheless, if a bullion product, such every bit a silvery circular or gold bar, does not have the weight & purity engraved on it, information technology may be hard to liquidate it downwards the road. Another option is buying authorities-minted products, such as silver coins or gilt coins. Nigh authorities mints will produce bullion in troy ounces. A notable exception is the Chinese Mint since their recent adoption of the metric organization and gram weights equally the unit of measurement of measure for their bullion coins.

Do you lot know what an ounce of gold looks like ? Check information technology out in our article.

FAQs

Is gilt sold by the ounce or troy ounce?

Not only gold but most precious metals like silver, platinum, and palladium, currently negotiated in the bullion market, tend to exist measured and priced in troy ounces. Troy ounce is the about used weighting system, and the spot price usually determines the troy ounce value. Nonetheless, other systems are possible. The Chinese Mint, for instance, uses grams to indicate the weight of its famous Chinese Panda Coins. Copper, on the other hand, is a base metal and, therefore, is weighed with the avoirdupois ounce.

Which is heavier, 1 ounce or 1 troy ounce?

The avoirdupois ounce, or simply "ounce," and the troy ounce may sound the aforementioned, simply the troy ounce weighs a little bit more the regular ounce. The troy ounce is approximately x% or 2.75 grams heavier than the unit of a regular ounce. While the standard unit of measurement of an ounce weighs 28.35 grams, a troy ounce weighs 31.1 grams.

Why is a troy ounce different?

The regular ounce, also called avoirdupois ounce or "ounce," was a general weighing organization used to measure any kind of product. When gold and other precious metals reached more intense trades, it was necessary to establish a standard unit of measurement to unify the precious metal markets from unlike nations, facilitating international trade.

Why is it called a troy ounce?

History tells united states of america that the term "troy" and the weighing measurement system comes from a French town called Troyes, which used to house traveling merchants from different countries to do business. The need to standardize a common pattern among these worldwide merchants and ease their business concern fabricated Male monarch Henri II found the troy ounce every bit an official weighing system around the 1400s.

How many regular ounces is a troy ounce?

Every bit the difference between the regular ounce and the troy ounce is approximately ten%, a troy ounce would stand for to 1.097 regular ounces. To be more than exact, a unit of troy ounce weighs 31.1 grams while the unit of a regular ounce weighs 28.35 grams. Because of that, the divergence of 10% in weight makes the troy ounce a little heavier than the ounce.