How Many Grams in an Ounce of Gold?

by Chris on March 28, 2010

Gold, silver, platinum and other precious metals are measured in a few different measurement systems.  It is important to understand the difference between them and how they relate to each other.

For example did you know that there are two types of “ounce” measurements? An uninformed gold seller could easily be taken advantage of by the gold buyer.

When we measure in ounces, it can be in troy ounces or an avoirdupois ounce.  An avoirdupois ounce is actually what most of us know as an ounce that we measure with in our day-to-day lives or what I will call a “common ounce”.

Troy ounces are part of the troy weight system that comes from the Roman monetary system which also includes the troy pound.  Over the years measurement systems were modified and shifted, just as most of the world now uses the metric system instead of imperial system.

But for certain measurements, the troy ounce system has always stayed.  These include gold, silver, platinum and other items such as anything ballistic (gunpowder, arrowheads, etc).

Grams per Troy Ounce Gold
To calculate how many grams in a troy ounce or troy ounces in a gram you need to know the conversion factor:
1 troy ounce (ozt) is equal to 31.103 grams (g)

If you have 6.85 troy ounces of gold, you would have 213.056 grams of gold.

Example
6.85ozt  x  (31.103 g / ozt)  = 213.056 g

Likewise,  1 gram is equal to 0.032 troy ounces(ozt)

If you have 300 grams of gold, you would have 9.645 troy ounces (ozt) of gold.

Example
300 g  x  (0.032 ozt / g )   = 9.645  ozt

Ounce of gold grams (Avoirdupois Ounce or Common Ounce)
Again the common ounce is different than the troy ounce.  It’s conversion factor is:

1 ounce (oz)  =  28.349 grams (g)

If you have 6.85 ounces of gold, you would have 194.191 grams of gold.

Example
6.85oz  x  (28.349 g / oz)  = 194.191 g

Likewise, 1 gram is equal to 0.035 ounces(oz)

If you have 300 grams of gold, you would have 10.58 ounces (oz) of gold.

Example
300 g  x  (0.035 oz / g )   = 10.582  oz

As you can see above the difference between a troy ounce and an avoirdupois ounce is approximately 3 grams.

If you are trying to sell your gold jewelry / gold bullion and did not realize that there were two types of measurement systems, an unscrupulous gold buyer could take advantage of the you and pay you out at a lower rate.

The gold buyer that I use breaks down their prices in all systems of measurement.  These include grams, pennyweight, troy ounce, and avoirdupois ounce.  They also break the payout pricing down into what carat the gold is.

Quite nice! When I found them it was nice to know that some gold buyers want to play fair.To see their prices click here.

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What is price of gold per pennyweight?

by Chris on March 27, 2010

Many people have asked the question, “What is price of gold per pennyweight?”

This is an important question if you want figure out the value of scrap gold that you own that is currently measured in pennyweight. Since most gold buying websites do not show the price of gold in pennyweight the questions that we need to answer are:

“How many gold pennyweights in a troy ounce?” and
“How do I convert pennyweight to grams so I know how much gold I have?”

Firstly, let’s define pennyweight. What is a pennyweight in the first place?

The dictionary definition of pennyweight in Wikipedia is:

“A pennyweight (abbreviated dwt) is a unit of mass that is equal to 24 grains, 1/240 of a troy pound, 1/20 of a troy ounce, approximately 0.054875 avoirdupois ounce and approximately 1.555 grams.”

OK. So to most people the above definition REALLY doesn’t mean too much. How does that help you figure out how many grams or troy ounces of gold you have instead of it in pennyweight?

Pennyweight to Grams

In the above definition of pennyweight is says,”1 pennyweight is = to 1.555 grams.” If you had 5.65 pennyweight of gold that would equal 8.785 grams of gold.

Example
5.65 dwt x 1.55 grams / dwt = 8.7575 grams (round to 8.758 grams)

Did you know that Google has a great built in conversion tool. If you type, “5.65 pennyweight to gram” the above answer will appear at the top of the search results.

Pennyweight to Ounce

Going back to the above Wikipedia definition of pennyweight it is says, “ 1 pennyweight is = 1/20 of a troy ounce.” As with the above example, if you had 5.65 pennyweight of gold that would equal 0.283 troy ounces of gold.

Example
5.65 dwt x 0.05 troy ounce / dwt = 0.2825 troy ounces (round to 0.283)

(Note: 1/20 troy ounce = 0.05 troy ounce)

Again, if you type “5.65 pennyweight to troy ounce” the above answer in Google will appear at the top of the search results.

Now if you put “ounce” instead of “troy ounce” a different number will appear. Ounces we use in household measurements is different than troy ounces.

How Much is My Gold Worth?

As you now know what your gold weighs in grams or troy ounces you can look at the various online gold buying websites to determine what the gold buyers are buying your carat of gold for.

If you are selling your gold, click here for a great precious metal buyer that shows what they pay in pennyweight(wt). Most seller do not show their payouts in pennyweight(wt). They also rent scales out for free. I have NEVER found anyone else that does this. All you have to do is put up a small refundable deposit. Click above for more information on scale rental also.

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How do I Select a Gold Scrap Buyer?

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4 comments Read the full article →

What Does 10 Karat Gold Mean? Learn About Gold Purity.

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Karat(kt) measurement goes way back to the roman times and is measures [...]

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When it comes [...]

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Welcome to SellingGoldTips.com!

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Hello,
I’m Chris Lajeunesse and I have just created a new blog called, “Selling Gold Tips.com”
The reason that I decided to create this blog was that I had looked on the internet to sell some gold jewelry and had noticed there were many companies offering to buy used gold and old gold jewelry.  But one thing [...]

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