What Is a Troy Ounce When Measuring Gold?

A troy ounce is a unit of measurement used to weigh precious metals such as gold.

Gold and other precious metals are weighed in troy ounces as opposed to the common avoirdupois ounce used in measuring most other materials. The use of troy ounces is often a source of confusion for those who are new to precious metal investing.

The Troy Ounce

One troy ounce is roughly equal to 1.1 avoirdupois ounces, meaning the troy ounce is slightly heavier than the avoirdupois ounce. Buyers and sellers of gold should be aware that a troy pound is composed of 12 troy ounces, in contrast to the avoirdupois ratio of 16 ounces to the pound.

History

The troy ounce has its origins in the town of Troyes, France. Troyes was once an important center of commerce and trade for Europe before standardized measurements. The troy system was widely used in France and England, including in the mintage of coins made from precious metals.

Uses

The troy ounce is the standard measurement for the weight of gold, silver, platinum and other precious metals as well as gemstones. Many modern digital scales can be set to read weights in different units of measurement, including troy ounces.

References

• Troy Ounces
• How can a Troy Ounce be more than an ounce ?
• What is a Troy Ounce?