How to Convert Value From Troy Pound Silver to US Dollars
Beginning in 1528 until well into the twentieth century, the pound sterling was the base currency of Britain and equaled 1 Troy pound of silver. Today, the British pound is no longer a metal-based currency, but the Troy system of measure (adopted by the United States in 1828) remains the standard system for weighing precious metals. Because the Troy pound is now only a measure of weight and not a currency you can't, strictly speaking, convert Troy pound silver into U.S. dollars. However, it's fairly easy to find the current value of a Troy pound of silver in U.S. dollars.
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Instructions
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Find daily "spot" (market) price for silver bullion. This will usually be listed in grams and ounces. Quotes are in Troy ounces, not in the everyday ounces used in the United States for other measures, so you don't need to convert.
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Convert Troy pounds to Troy ounces. There are 12 Troy ounces to a Troy pound instead of 16 as in the regular pound (officially called an Avoirdupois pound). If you have an item weighing a different amount in Troy pounds, just multiply the weight in Troy pounds by 12 to get Troy ounces.
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Multiply the weight in Troy ounces by the current spot price of silver. For example, if the spot price is $15 per ounce and you have 12 Troy ounces (1 Troy pound) the current value of the Troy pound of silver is $180.
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Tips & Warnings
If you want to know the value of a British pound in U.S. dollars, it's very easy. Usually all you need to do is type "GBP/USD quote" into a search engine like Google and the current exchange rate will come up. If that doesn't work, you can go to one of many financial sites that provide real-time currency quotes (see Resources).
