Troy Ounce

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The troy ounce is used in the weighing and pricing of precious metals: gold, platinum, and silver.

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A troy ounce is not the same as an imperial or avoirdupois ounce.

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Many Americans are familiar with the avoirdupois ounce, which is used to weigh most items. Understanding that a troy oz is not the same as an ounce is that a troy oz is about 10 percent heavier than an ounce.

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Be sure to buy your metals from reputable dealers. It’s not uncommon for shady dealers to try to swindle customers by selling an ounce of metal at the current troy oz price, which cheats customers out of money.

A troy oz contains 31.1035 grams of 24 karats pure gold and is one of the most commonly purchased unit sizes of gold.

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Conversions

1 kilo = 1,000 grams / 31.1034768 grams per troy oz = 32.1507466 troy oz per kilo

Troy oz price: multiply the per kilogram price by the kg per troy oz figure (0.0311034768) to effect the correct conversion from a per kilogram price to a per troy oz price.

Kilogram price: By the same reasoning a per troy oz price of gold should be divided by kg per troy oz figure (0.0311034768) to effect the correct conversion to a per kilogram price.

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Origin

Originally coming from the French town of Troyes.

King Henry II of England adopted the troy weight system, which was widely used in Britain’s coinage system in the 1400s. In the early 1500s, troy ounces were accepted as the official standard of measure for gold and silver in Britain, with the U.S. Mint adopting this measurement method in 1828.

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