What does the concept of an ounce include in the field of gold and precious metals?
The word ounce from the Latin “uncia” dates back to the times of Ancient Rome. Residents used huge bronze coins as money, after cutting them into pieces. Thus, one twelfth of this coin became known as an ounce and had a weight of 27.288 grams.
Collectible One Ounce Coin
Naturally, this differs from the weight value of a modern ounce. After a short time it became very common as a unit of weight throughout Europe. Subsequently, many countries around the world began to use the metric system in measuring weight. But the ounce is the oldest unit still in use in jewelry and banking.
History of origin
Since the 13th century, 1 ounce has been equal to 1/16 of a pound. As a rule, when we talk about the concept of an ounce of gold, we usually mean a troy ounce. The story of its origin is interesting. In the French city of Troyes, which is located in the province of Champagne, in the 12-13th century, world-famous fairs were held, where, due to the need to exchange money (of which there were many types, since traders from all over the world came there), the development of unified measurement system standard.
The basis was the French livre, which was equal to a troy pound of silver. When exchanging precious metals, gold was measured in troy ounces. Since then, it has become a measure that determines the weight of precious metals in many modern countries.
A weight equal to a twelfth of a troy pound is the weight of an ounce. The troy pound, or otherwise the gold coin pound, existed as the main unit of weight in England from 1824 to 1858 and was equal to 373.2417 grams.
Thus, one troy ounce of gold in grams has a weight of 31.1035 grams.
Price
Many people are interested in the gold rate, or how much does an ounce cost?
Around the world, the yellow metal has a value expressed in United States dollars per ounce. Although the metric system is more common today, an ounce of gold is a symbol of centuries-old traditions, and its price is determined by a standard of quality and purity.
The London fixing, which is carried out by the main players in the precious metals market (they are representatives of the five largest world-class banks), determines how much 1 ounce of gold will cost.
The fixed price is set twice a day: 10:30 and 15:00 London time or 13:30 and 18:00 Moscow time. Thus, the price of the precious metal in troy ounces is constantly changing.
In recent years, the price of the yellow metal has risen from US$520 to US$1,250. According to many financial analysts, one should expect a constant but smooth increase in value. And this gives a good reason to invest in its purchase to protect them from inflation. Today, for 1 ounce of precious metal you can buy the same benefits as two centuries ago. For example, in the 18th century, one ounce of gold could buy an excellent men's suit, and now its price is at the same level.
London fixing online
Units of measurement in different countries
Shekel. It is of Hebrew origin. Not used often and equals 11.4 grams. A quarter of a shekel is 2.85 grams.
Some countries use their own units of measurement.
For example, a tola unit equal to 11.6638 grams is used in Luxembourg. It is measured when buying or selling scrap gold and other types of gold.
One bass in Taiwan will be 15.244 grams. In Thailand, a thael is used equal to 37.5 grams, and in China and Hong Kong one thael weighs a little less - 37.429 grams.
Varieties
Usually, when making a transaction to buy or sell an item, a person asks not only what an ounce of gold is and what its price is in grams, but is also interested in the fineness and weight of the item. It is also necessary to know that in addition to Troy, there are several other varieties in circulation:
- The pharmacy, in which 1 ounce equals 29.860 grams, was common in Russia until the end of 1930;
- Maria Teresa, containing 31.1025 grams;
- Ancient Roman, the most common in the history of the ancient world, and when asked how much 1 ounce is a gram, at that time they said that it was 27.3.
Historically, many coins weigh exactly one ounce.
Thus, you need to know how much a troy ounce of gold weighs before you buy or sell an ingot or coins or scrap.
Source: http://golden-inform.ru/mery-vesa/uncija-zolota/
Weight of an ounce of gold in grams and changes in its price
Gold is a precious metal that has several units of measurement depending on the territory. It is difficult for beginners to navigate the transfer of one unit to another. Therefore, people have a question: how much will an ounce of gold weigh in grams? Units of measurement are needed to determine the exact weight of the precious metal. The most popular among them:
- Grams. This unit of measurement is international, but, unfortunately, it has not taken root in all countries.
- Ounces. Even though the measurement system is quite old, it still exists, especially in relation to the weight of precious metals. And the question of how many grams are in an ounce is still relevant.
- Carat and fineness are not units of weight. This is simply a measure of the amount of gold in the piece of jewelry and is expressed as a percentage or carat. Knowing this value and how much the jewelry weighs, you can calculate the mass of pure gold contained in it.
How the amount of gold is measured depends on tradition. In some countries, they use ounces more when measuring any product, including gold.
Troy ounce
Origin of the ounce
A troy ounce of gold in grams is equal to the value of 31.1035, which is often rounded to the nearest 31 grams. It so happened that in jewelry, cosmetics and banking, to this day, the cost of gold by weight is determined in ounces.
It all started in the 12th century in the town of Troyes on the banks of the Seine. It was there that the largest fairs in Europe were held, in which traders and merchants from different countries participated. And so there was confusion in monetary processes, since currency exchange rates simply did not exist at that time.
And all the coins, one way or another, were made of precious metals, so the weight of the French livre, which corresponded to one troy pound of silver, was taken as the basis for calculations. Thus, the troy ounce began to gain popularity and soon conquered the world of precious metals: now gold is most often measured with its help. Therefore, the origin of the name has nothing to do with Troy, and writing “Trinity ounce” is incorrect.
A troy ounce is comparable in weight to one-twelfth of an English gold coin pound. 1 ounce of gold weighs the same as some coins:
- Canadian gold maple leaf;
- American Golden Eagle;
- American golden buffalo;
- Australian gold bar (this is not an ordinary gold bar).
In addition, we should not forget that, in addition to the troy ounce, there are several other types:
- an ounce of avoirdupois, its weight is 28.34 grams;
- pharmaceutical ounce, which existed in Russia and is equivalent to 26.89 grams;
- ounce in grams of Maria Teresa is equal to 31.10.
Despite the fact that the numbers are close to each other, the troy ounce is still the main one in bank calculations for the purchase/sale of gold, and it is in it that the precious metal will continue to be measured. Therefore, when purchasing, you must definitely clarify the weight measure, since even the slightest differences in milligrams will affect the cost. The price per ounce of the precious metal is expressed in US dollars, since the dollar is the world's reserve currency.
Troy ounce
How is the price of an ounce of gold determined?
The price of gold per ounce is set using the London fixing. This operation takes place at 10.30 and 15.00 London time in three currencies: US dollar, pound sterling and euro. But on commodity exchanges everyone uses dollars.
This process is controlled by five leading global banks: Deutsche Bank, Société Générale, HSBC, Scotia Mocatta and Barclays Capital. They are the ones who analyze the situation on the gold market, compare supply and demand for the precious metal and set the final price.
A fixed price allows the broker to quickly contact buyers and adjust the price depending on the type of transaction.
The inscription “oz” or “ounce” on bars is much more common than grams. This is already a world, or royal, measurement quality standard, and it cannot be easily avoided. Everyone has long been accustomed to using ounces.
In recent years, there has been a trend of rising gold prices per ounce. The crisis situation in the economy of many countries is one of the main reasons for the increase in the cost of an ounce of precious metal, and the process also depends on the policies of large banks and state governments. Therefore, according to experts, the next five years will see an increase in gold prices.
The cost of the precious metal still depends on a combination of many factors and requires an analysis of the market situation. Therefore, investors carefully monitor the exchange rate in order to profitably play on gold prices.
We recommend other articles
Source: https://DedPodaril.com/zoloto/imform/unciya-zolota-v-grammah.html
Types of ounces of gold and conversion of ounces of gold to grams
It so happened historically that the concept of an ounce of gold can be interpreted in different ways.
How do you figure out how much an ounce of gold is in grams? Measures of gold weight are converted into familiar units of measurement - grams.
Weighing in ounces can cause confusion when buying or selling gold. In countries in the former USSR, units of measurement such as pounds and ounces were rarely used.
Consequently, people need time to understand the nuances of weighing precious metals.
Troy ounce of gold
To understand how the troy ounce of gold came to be, one should delve into the history of monetary transactions.
The small town of Troyes in medieval France traditionally hosted fairs, which were attended by merchants from all over the world. Since gold bars or gold coins were used as money, it was necessary to agree on the value of these coins. Then it was customary to weigh the ingot and compare its weight with the troy pound of silver - the main French coin in those days.
troy ounce
This measure of weight, the troy ounce, came to England and has been preserved to this day in relation to precious metals. Daily price setting takes place in London, and according to tradition, they decided not to change the weight measure. It is convenient for many European banks to use the troy type of measurement, because it is by this type that quotes are established.
The gold rate is updated daily at 10.30 and 15.00 London time. And this is done by the five largest banks in the world: Deutsche Bank, Société Générale, HSBC, Scotia Mocatta and Barclays Capital. Individual brokers are not involved in the process. Banks take into account the supply and demand for gold and draw conclusions based on economic indicators.
When calculating quotes, three currencies are used: US dollar, euro and British pound sterling. A troy ounce of gold in grams is equal to 31.103. Therefore, if you need to calculate the cost of a product or ingot in grams, you need to convert weight measures.
Where else can you find measurements in troy ounces:
- banking - it most affects the price of gold, since all purchase and sale transactions take place through banks;
- jewelers use this weight to calculate the amount of gold needed to make a piece;
- Pharmacology does not count gold, but medicinal substances in ounces, but this is rare.
It is in these areas that the exact weight of a product or substance is important.
Other types of ounce
In addition to the troy ounce, there are other types of this unit of measurement. For example:
- an ounce of avoirdupois, which corresponds to 28.34 grams of gold;
- pharmaceutical ounce, which is equal to 29.86 grams;
- the ancient Roman ounce is the very first type of weight measure, since this is a historical indicator, it is not entirely accurate and is approximately 27.4 grams;
- An ounce of Maria Teresa is 31.125 grams.
The pharmaceutical ounce was used to weigh medications. Now it is used for weighing active substances in homeopathy. How much an ounce weighs - you need to know in order to calculate the cost of gold. The answer to the question about the weight of an ounce of gold depends on which ounce you mean.
When carrying out trading operations in ounces, you need to look at the measure of the weight of the precious metal and convert it into familiar quantities - into grams.
One Ounce Gold Coins
Governments of some countries, such as the United States, China and Canada, have introduced bullion and collectible gold coins that weigh one ounce. Among them there are such famous specimens:
- Canadian maple leaf;
- American Eagle;
- Chinese panda;
one ounce coin
If you pick up such a gold coin and weigh it, you can find out how many grams are in an ounce of gold. This is done for convenience, but payments are not made with such coins. Currently, the troy ounce traditionally remains the standard measure of weight, which symbolizes the connection between tradition and modernity in the global economy.
Source: https://artzoloto-rostov.ru/articles/untsiya-zolota-v-grammah-eto-skolko/
Ounce is How many grams are in an ounce? Fluid ounce
In various sources translated into Russian, you can often find mention of an ounce. It is a unit of mass, weight or volume used in most British traditional systems of measurement. A typical ounce of avoirdupois (approximately 28.3 g) is 1/16 of the total weight of a pound.
This is a classic unit of measurement for the USA and Britain. It is mainly used in the United States of America for weighing packaged foods and portions, postal items, as well as for determining the density of fabric and paper, boxing gloves, etc. It can sometimes be found in the English-speaking sphere for other processes.
General Berezin Alexander Dmitrievich: biography, military service, memory
Etymology of the name
Where does the term "ounce" come from? This name comes from the Latin uncia, a unit that was one twelfth of the Roman pound (a measure of weight).
The name was borrowed twice. Old English was first spoken as "insan" or "indsan" (a corrupted form of Latin). Then the word "ounce" began to be used in late medieval English.
The abbreviation oz came later from the related Italian word onza (now spelled oncia).
Why is there no single standard
An ounce is a unit that is measured in different ways. The explanation for this is as follows. It has been used historically in many parts of the world, at different points in history, and for different applications. Therefore, unequal mass standards were taken as a basis.
Source: https://1Ku.ru/obrazovanie/66204-uncija-jeto-skolko-v-uncii-gramm-zhidkaja-uncija/
How many grams are in 1 ounce of gold - online converter
Beginner investors often encounter weight confusion because they do not know how many grams are in an ounce of gold. Having bought an ingot, a person suddenly receives more metal than he expected to receive. But is it?
This happens due to the fact that even in the modern world they use a system such as the troy ounce to determine the weight of gold. And this ounce is often confused with an ordinary ounce, since grams are used in Russia.
Therefore, when buying on foreign markets, you must take into account the fact that a troy ounce weighs nine point seven percent more than avoirdupois.
Ounce avoirdupois
Abbreviation oz or oz at - in the USA and a number of other countries the basic unit of weight is the avoirdupois pound (453.592 370 g). It consists of 16 oz. The weight of an ounce of avoirdupois is 28.35 g (28.349 523 125 g).
What is a troy ounce?
This is the name of the unit for determining the weight of precious metals, which is included in the troy system of measures. Designated as TR.OZ, or troy ounce, or simply ozt. This system was used by the Romans to measure gold, silver and precious stones. This system includes, among other things, pound and grain.
To understand the difference, you need to know what an ounce is equal to.
So: One troy ounce will be equal to 31.1034768 grams. A pound is equal to 373.2417216g. or twelve troy ounces. A grain is equal to 1 in 480 ounces or 64.79891 milligrams.
There is no need to confuse the pound in England and the troy pound, since the latter is rarely used nowadays. And it is absolutely necessary to separate the ordinary and troy ounces.
In the modern world, it is sometimes still measured in troy ounces, especially in the financial sector, in jewelry stores, in the pharmacy and cosmetics industries. In order to calculate the metal in cans, a troy ounce is rounded, and the result is 31.103 grams .
In this case, it is not clear why use an outdated system. Why can't we use more modern systems of measures? Let's try to answer this question.
The most important feature of the troy ounce is its convenience in calculating the weight of precious metals to determine their prices in the banking and jewelry industries.
How to convert ounce to grams
This can be done using an online calculator. To find out how many grams there are in an ounce of gold, you need to enter the number of ounces and the calculator will automatically convert it to grams. The troy ounce is a kind of royal symbol for measuring gold.
Some coins are equal in weight to exactly a troy ounce:
- USA golden eagle
- golden buffalo usa
- Gold bar Australia
- Panda China
- Krugerrand South Africa
- Maple Leaf Canada
- Philharmonic Australia
The ancient city of Troy in no way influenced the name of the troy ounce. The troy ounce was named after a small town in France - Troyes. This city became popular in the twelfth century because it hosted fairs with the participation of merchants from all over the world.
https://www.youtube.com/watch?v=pKAS5cAqZsE
Previously, each country used its own system to measure the value of gold, which constantly created difficulties. At first it was proposed to take the livre as the universal standard; the same system included the troy pound. Soon the troy ounce became the main way to determine precious metals.
Determining the price of gold using the London fixing
How much 1 ounce of gold will cost in grams is now determined by the London fixing 2 times a day - in the morning at half past ten and in the afternoon at three o'clock. Previously, this was not necessary because the gold standard was in effect.
The price of gold was fixed at three pounds seventeen shillings and nine pence for the purchase and three pounds seventeen shillings and ten and a half pence for the sale. Fixing was first carried out in 1919. the twelfth of September.
Since then, the fixing process has not changed much.
Now you know how many grams make up one ounce of gold, thereby protecting yourself from misunderstandings when investing.
Source: http://GoldInside.ru/poleznoe/ckolko-gramm-v-untsii-zolota.html
What is meant by an ounce of gold?
Despite the almost complete victory of the metric system, there are still business segments in the world where ancient weight standards remain. Such standards include an ounce of gold, the history of which goes back to the times of Ancient Rome and the Middle Ages. A troy ounce of gold in grams is 31.1034807.
In practice, this value is usually rounded to 31.1035 or even 31.103 grams.
If you are going to work with gold on the stock exchange, you need to take into account the use in world practice of this special measure of weight, which in quotes is designated as “ounce” or, in the abbreviated version, “oz”.
This is an international standard, also accepted by the world's banks and other financial institutions, and is also often used by jewelers.
However, the metric system is also used in the financial segment, along with the use of the troy standard. For example, gold bars often weigh 1 kg (although in world practice the inscription “ounce” on a precious metal bar is more common).
For beginners, combining the two metric principles may seem difficult, but it takes some getting used to. How much a kilogram gold bar weighs in ounces is not so difficult to remember.
To simplify calculations, remember that 1 kilogram of gold contains approximately 32.15 oz.
The preservation of this measure of weight in the third millennium is largely a tribute to tradition. Banking, stock exchange, and jewelry are conservative areas of activity that have retained their commitment to the classics. Carats and troy ounces are still used here today. There is even a certain aristocratic chic in this, similar to the use of English guineas in auctions, which, by historical standards, was abandoned relatively recently.
However, it's not just about tradition. It should be noted that this specific measure of weight is quite convenient for working with precious metals: 1 ounce of gold is a value that is not as large as a kilogram and not as small as a gram.
Interesting fact: if you round up, it turns out that an ounce is about 30 times heavier than a gram and about 30 times lighter than a kilogram.
History of the Troy Standard
The use of the ounce as a measure of weight began in the era of Ancient Rome. It was one twelfth of the libra. How many grams were there in an ounce at that time? Historians have found the answer to this question: 327.45 grams. (Therefore, an ounce of gold today has about 4 grams more than that of ancient Rome). The ancient Romans divided this measure of weight into 2 semuntions. There were also smaller weight measures:
- semuntia – ½ oz;
- sicilicus – 1/4;
- sextool – 1/6;
- scruple – 1/24;
- silicva – 1/144.
Why did it happen that an ounce of gold today does not correspond in weight to that of ancient Rome? To answer this question, you need to dive into the Middle Ages, when not only each country, but also many duchies and counties issued their own coins. It is even difficult for a modern person to imagine how difficult it was for medieval financiers - money changers!
When merchants from different countries and provinces came to a large fair, each brought their own money, which varied in weight and gold content. Counterfeiters often tried to sell money at fairs, and it also happened that feudal lords (even kings!) deliberately reduced the gold and silver content of coins.
In addition, in the Middle Ages, people for a long time used old coins that were several centuries old - including those of states that had already disappeared, because gold remained gold. True, the weight of such coins gradually decreased - after all, they were worn out.
And some cunning people even cut coins from precious metals.
Money changers - future bankers - solved this confusion by weighing coins and determining the purity of the precious metal. It was they who introduced the unified Troy standard into use.
One of the largest fairs in the Middle Ages took place in the French province of Champagne, where famous wines were produced, as now. The fair in the city of Troyes was large, international, and authoritative.
It was here in the 12th–14th centuries that money changers used the ounce as a standard, which weighed the same 31.1035 grams when converted to the modern metric system. This is how ounce from Troyes became the most authoritative measure in the financial environment.
And now, when they ask how much an ounce of gold weighs - how many grams are in it, they mean exactly the troy standard.
In those days, this measure of weight was also used to measure other goods, such as grain. Subsequently, this measure became entrenched in the financial environment and the jewelry business. The popularity of the ounce turned out to be so great that many gold mints relied on it.
For example, Spanish doubloons are the same ounces of gold.
The English gold mint extended this standard to many countries that were previously colonies of the British Empire: this is how much, for example, American “eagles” and “buffalos”, “maple leaves” of Canada, and Australian gold bars weigh.
It is sometimes mistakenly believed that the name of the troy ounce comes from the city of Troy. This is not so: the name is given after the city of Troyes - Troyes.
What other ounces are there?
Until the 19th century, the ounce was a popular measure of weight, used in many areas. For example, we meet it on the pages of Dickens: it turns out that jam was even measured in ounces! And, despite the establishment of the troy standard, one ounce could weigh differently in different countries.
You should know about several of the most popular “sisters” with which Troy should not be confused:
TypeWeight| Ounce averdyupua | 28.34 g |
| Pharmacy | 26.89 g |
| Ounce of Maria Teresa | 31,1 |
| Dutch | 100 g |
| Troyskaya | 31.1034807 g |
As you can see, the weight of all these species ranges around 29–30 grams, which is explained by their common origin from the ancient Roman weight measure. And only the Dutch one stands out from the general series: this is because in the Netherlands in 1820, when switching to the metric principle, they decided to keep the usual name for the ounce and assigned it a special place in the new system - it began to weigh 100 grams.
Thus, when answering the question of how many grams are in an ounce of gold, it is necessary to clarify which one is meant. However, now all types, except Troy, are outdated. So when modern financiers talk about how much an ounce of gold costs, they always, in 100% of cases, mean, of course, the troy standard.
Exchange rate oz (ounce)
So, in the 21st century, the price of gold is still linked, as in Ancient Rome and medieval Europe, to an ounce. But of the many types of this weight measure, only the troy one is now used. So in everyday speech, for the sake of brevity, we often just talk about the price of an ounce of gold.
What is the cost of an ounce of gold? This value is variable and changing. The price of a troy ounce of gold depends on the exchange rate, which is constantly changing. The price of gold per ounce is formed using the London fixing operation. According to tradition, twice a day, at 10.30 and 15.00, the new value of this precious metal is fixed.
The gold rate in oz can be found in three modern currencies: the American dollar, the British pound and the euro. However, in exchange practice the US dollar is mainly used. Most often, when people ask how much an ounce of gold currently costs, the price is quoted in American currency.
How much a troy ounce of gold costs is determined by the five leading banks on the planet, analyzing the demand for the precious metal on the world market and the corresponding supply. Participating in the London fixing are Deutsche Bank, HSBC, Société Générale, Scotia Mocatta and Barclays Capital.
At the moment, stock exchange trends show an increase in gold prices. According to expert forecasts, this trend will continue for about five more years.
Source: https://ProDragmetally.ru/rynok/kotirovki-i-tseny/unciya-zolota.html
An ounce of gold in grams: what it is equal to, the difference between troy and regular gold, what it is and what it is used for, cost
Greetings to my readers! In France, there is the city of Troyes, famous for its architectural monuments of the Middle Ages, offal sausage and low-alcohol drinks.
Troyes is the historical capital of the Champagne province, which gives its name to the sparkling wines that the whole world drinks. And the city itself also gave its name, but not to wine, but to a unit of measurement of the mass of precious metals. A troy ounce of gold in grams is equal to 31.1034768 and is still used in jewelry, banking and cosmetology.
What is an ounce
Since ancient times, in many places it was customary to measure the mass of a material in pounds, and these pounds were not identical. The Russian pound was equal to 0.41 kg, and the pound sterling (silver coins) was approximately 0.35 kg. According to one version, it was he who later turned into the British pound - a currency that today is more expensive than the dollar or euro.
Ancient Rome also had its own pound - libra (327.45 g). The twelfth part of it was called an ounce.
Briefly about the history of the origin of the troy ounce
The first mention of the troy ounce (denoted as ozt or t oz) dates back to 1390. But the fair in Troyes (Champagne) was known in Europe since the 12th century, and probably appeared around the 5th century. This is how grain, cosmetics, and medicines were calculated (in fractions of a pound).
The words “Troyes” and “Troyskaya” sound different to the Russian ear, but it’s worth looking at the French spelling of the city’s name - Troyes - and the similarity becomes obvious.
Types of ounce
In addition to mass, in Rome they measured in ounces:
- area: 1 oz - 2400 roman sq. feet, that is 29.9 m²;
- length: 1 oz - 1/12 Roman foot - 0.0246 m;
- capacity (volume): 1 oz - 1/12 sextary - 0.0372 mugs.
As a measure of mass, the ounce existed in many countries in Europe and beyond and was equal to various numbers of metric grams. Discrepancies have survived to this day.
ounce can mean not only t oz, but also other varieties:
- fl oz - fluid ounce (there are English and American, both are approximately 30 ml);
- oz at - avoirdupois ounce, derived from the trade pound (one oz at - about 28 g).
How many grams are in one ounce of gold
The Troy, also known as gold coin, pound weighed 373.2417 g (the same as 87.5 Russian zolotniks).
A troy ounce (1/12 pound) is equal to 31.1034768 g - this unwieldy number is often shortened to 31.1035, which is a joy to remember when trying to remember it.
One kilogram contains 32.1507 ozt of gold.
Online converter
Converting values to decimal mentally is not easy. For our convenience, there are online calculators and converters that allow you to enter indicators in different units of measurement and get the result without lengthy calculations. Here is one of them:
Source: https://zhazhdazolota.ru/interesnoe/trojskaya-untsiya-v-grammah
Troy ounce of gold in grams. Varieties and conversion of ounces of gold to grams
The English system has such a concept as a troy ounce. The name itself is borrowed from the name of the French city of Troyes. 1 ounce today is especially popular in indicating the mass of certain jewelry; it shows the weight. This type of measurement is also known in various other fields, such as cosmetology. Certain types of ingredients are designated by this term (their weight).
1 ounce is
An ounce is a measure that was used in ancient times. In Rome, such a measure took place and its weight was 27.3 grams. In ancient Ethiopia, as well as in various European cities, there was such a measure of an ounce (Maria Teresa) - 31.1025 grams.
In pharmacy, until the 27th year of the last century, the measure of one ounce was equal to 29.86 grams. During the transition to another system of measures in the Netherlands, a certain value was adopted for an ounce - and this is the weight of 100 grams.
A certain designation was adopted for the troy ounce (depending on the type of metal):
- palladium - XPD;
- platinum - XPT;
- silver - XAG;
- gold - XAU.
Currently, one ounce is a measure that is used to denote metals (precious). One troy ounce is equal to 31.1034768 grams, which is one-twelfth of a pound, which is used to denote the weight of the gold metal in England. Gold coins are also measured in ounces, which indicates their actual weight. But the price of a particular coin is primarily influenced by its features, not just its mass. However, as a measure they resort to an ounce.
An ounce is how many grams?
People who want to buy gold are wondering: how many grams are in 1 ounce? Today, thanks to the Internet, you can calculate how many grams are in an ounce and convert the weight of the gold metal into ounces. It should be noted that today the international market still uses such a measure as an ounce as a unit of weight; it is equal to a certain value.
Let's say gold weighs 100 grams, then an ounce is equal to: 3.2151. Gold bars with the designation of this measure prevail over others with a weight indicator in grams. This is why it is so important to understand what an ounce is and how many grams it means. Understanding such a concept as the weight of an ounce, you can easily calculate how many grams a particular gold bar weighs. Today, the weight of an ounce can be calculated using a special calculator.
In order to understand the situation on the world market, it should be taken into account that throughout the world the cost of an ounce is expressed in dollars. This is customary in all countries of the world. 1 ounce in grams will represent a troy unit. This centuries-old tradition, despite some difficulty in perception by contemporaries, is still particularly stable in our times and there are no plans to change it.
From history - what is 1 ounce?
The city of Troyes, which gave the name to the ounce, is located in the provincial region of Champagne, on the famous Seine River, in the northern part of France. The town has a great past, steeped in centuries-old history. In ancient times, when gold gained particular popularity, the designation was adopted - what is the equivalent and how many grams in 1 ounce. This allowed us to avoid many misunderstandings.
This measure began to be used especially actively during the emergence of folk fairs, which attracted traders and buyers from around the world. It was then that people first began to wonder: how much does an ounce weigh?
Merchants who in ancient times purchased gold exchanged it at special points; it was then that a universal unit of mass of gold was adopted, it was about an ounce. A standard system was adopted at fairs; it was very convenient in trading.
At first, the livre (French) was used, which contained the silver pound itself. Knowing how many grams are in one ounce can help you avoid many problems regarding buying and selling gold. Thanks to the ounce, today it is possible to calculate the value of gold on the world market. After all, this is precisely the measure that applies to gold bars and coins.
London fixing
The London fixing (gold price) sets the price of gold around the world. In London, this price is set as a result of a decision made by representatives of the world's five largest banks. These are players in the metals market, which are of particular value and demand throughout the world. The price is set twice a day, in the morning and after lunch: at 10:00 and at 15:00 (Moscow time: 13:30, 18:00). It is after this time that price fluctuations on the global precious metals market can be monitored.
In order to protect their enterprise during inflation and crisis, entrepreneurs resort to methods of investing their investments. Buying gold can help you avoid difficult moments. To do this, you need to know what an ounce is equal to and track the price of precious metals based on London fixing data. Methods of investing in gold to avoid problems in difficult times:
- gold bars (measured), gold bars are bought or sold in a bank (special documents are required);
- gold coins (collectible or investment);
- impersonal metal accounts (depositors buy impersonal gold metal stored in the account, and have the opportunity to receive either money or gold at any time).
Power
Today, gold coins are especially popular. Investment coins of this type have certain characteristics:
- value in terms of artistry and investment;
- have a solid circulation;
- investment coins have a special manufacturing technology - uncirculated;
- unlike other investment coins, they are timed to coincide with certain events.
A distinctive feature of purely investment coins from collectible coins is profitability due to the increase in the value of the metals on the basis of which they are created. Knowing the state of affairs on the international market and having knowledge of weights, you can secure your business and make a good profit from buying and selling precious metals.
In our turbulent times, one of the most important indicators of the reliability of the economic condition of a country is the totality of its gold reserves.
When talking about the value of this yellow metal in one currency or another, they use a rather strange measure called the troy ounce of gold. For some reason, the cost of this metal is not reflected in grams.
How did this happen, why is the universal weight unit not used when weighing gold? And how much does a troy ounce weigh in grams?
What is an "ounce"
The concept of an ounce was born in Ancient Rome. In those days, bronze coins were in circulation, which were divided into parts. The twelfth part of a bronze ancient Roman coin was called an ounce. In modern equivalent, its weight was just over 27 grams.
Over time, the ounce began to be used not only as a monetary unit. Since Rome had fairly strict standards for minting coins, ounces became convenient for weighing small measures of various substances. The price of gold has always been high, so the ounce was the best choice for weighing this metal. Over time, this small measure of scales spread throughout Europe.
How to convert troy ounce to grams
Converting troy ounces to grams is quite simple. It should be remembered that one troy ounce is equal to 31.1035 grams. Accordingly, to convert, you should multiply this value by the required number of ounces.
Length and distance converter Mass converter Converter of volume measures of bulk products and food products Area converter Converter of volume and units of measurement in culinary recipes Temperature converter Converter of pressure, mechanical stress, Young's modulus Converter of energy and work Converter of power Converter of force Converter of time Linear speed converter Flat angle Converter thermal efficiency and fuel efficiency Converter of numbers in various number systems Converter of units of measurement of quantity of information Currency rates Women's clothing and shoe sizes Men's clothing and shoe sizes Angular velocity and rotation frequency converter Acceleration converter Angular acceleration converter Density converter Specific volume converter Moment of inertia converter Moment of force converter Torque converter Specific heat of combustion converter (by mass) Energy density and specific heat of combustion converter (by volume) Temperature difference converter Coefficient of thermal expansion converter Thermal resistance converter Thermal conductivity converter Specific heat capacity converter Energy exposure and thermal radiation power converter Heat flux density converter Heat transfer coefficient converter Volume flow rate converter Mass flow rate converter Molar flow rate converter Mass flow density converter Molar concentration converter Mass concentration in solution converter Dynamic (absolute) viscosity converter Kinematic viscosity converter Surface tension converter Vapor permeability converter Vapor permeability and vapor transfer rate converter Sound level converter Microphone sensitivity converter Sound Pressure Level (SPL) Converter Sound Pressure Level Converter with Selectable Reference Pressure Luminance Converter Luminous Intensity Converter Illuminance Converter Computer Graphics Resolution Converter Frequency and Wavelength Converter Diopter Power and Focal Length Diopter Power and Lens Magnification (×) Electric charge converter Linear charge density converter Surface charge density converter Volume charge density converter Electric current converter Linear current density converter Surface current density converter Electric field strength converter Electrostatic potential and voltage converter Electrical resistance converter Electrical resistivity converter Electrical conductivity converter Electrical conductivity converter Electrical capacitance Inductance converter American wire gauge converter Levels in dBm (dBm or dBmW), dBV (dBV), watts and other units Magnetomotive force converter Magnetic field strength converter Magnetic flux converter Magnetic induction converter Radiation. Ionizing radiation absorbed dose rate converter Radioactivity. Radioactive decay converter Radiation. Exposure dose converter Radiation. Absorbed dose converter Decimal prefix converter Data transfer Typography and image processing unit converter Timber volume unit converter Calculation of molar mass Periodic table of chemical elements by D. I. Mendeleev
Source: https://bboff.ru/troiskaya-unciya-zolota-v-grammah-raznovidnosti-i-perevod-uncii/
Exact calculations - ounce of gold in grams
When it comes to the weight of precious stones and metals, the term “ounce” appears, which is unusual for the average person. This measure has been known since Roman times and was the main unit of weight in Europe during the Middle Ages. Now it is not as widespread as it was before. Most often it occurs in transactions of purchase and sale of precious metals. Let's figure out how to find out how much an ounce of gold weighs in grams and what it is needed for.
Return
A measure of weight with a rich past
When you hear the word “ounce,” you should know that the ancestor of this unit of weight was the troy ounce. In international practice, this value has a fixed abbreviation consisting of three letters in Latin letters. This can be an option t oz or ozt.
This mass value received its name from the French city of Troyes. In the Middle Ages, it was a large trading center, where representatives of different nations brought all kinds of items in demand. To avoid confusion with calculations, all goods were bought and sold for pure gold. And the main measure of gold became the troy value. One troy ounce of gold weighs 31.103 grams.
Moreover, between 1824 and 1858 the troy pound (comprised of twelve ounces of the same name) was the basic unit of weight in Great Britain. Then the metric system of measures, which is used by most modern people, became generally accepted.
But goldsmiths continue to use the troy value in calculations. This is a kind of gesture of continuity between generations of jewelers and a tribute to this figure with its rich past.
In addition, it is used in cosmetology when weighing especially expensive and unique ingredients.
It is in the troy unit that the mass of precious bank investment coins is measured.
Return
Painstaking calculations
In order to correctly and quickly convert an ounce of gold into grams, you can use one of the online converters that are available in sufficient quantities on the Internet. If you do not have the opportunity to use the World Wide Web or you are simply a supporter of traditional computing methods, you can do it yourself. To calculate the weight of a precious measure you will need a special formula:
(? oz) x (1 lb/16 oz) x (1 kg/2.2046 lb) x (1000 g/1 kg) =
Explanations of abbreviations used
| Abbreviations | Decoding | Weight |
| oz | ounce avoirdupois | 28.3 g |
| lb | pound avoirdupois | 453.529 g |
| kg | kilogram | 1000 g |
| g | gram |
Using this formula, you can find out how many grams of gold are in, for example, five or nine ounces:
5 oz x (1 lb/16 oz) x (1 kg/2.2046 lb) x (1000g/1 kg) = 141.749 g
9 oz x (1 lb/16 oz) x (1 kg/2.2046 lb) x (1000g/1 kg) = 255.148 g
Thus, to calculate the exact number of grams in this unit, you need to know the values of one avoirdupois ounce, kilogram, and avoirdupois pound in grams.
Return
How much does an ounce of gold cost?
If we talk specifically about the “yellow devil”, then the importance of the troy unit for this precious metal is difficult to overestimate. The fact is that the cost of gold is calculated in US dollars per troy ounce, and not per gram.
Every day in Great Britain, in London, the question is decided how much this one measure of gold will cost in dollars. Moreover, prices are set twice every day.
According to Moscow time, this happens at half past two in the afternoon and at six in the evening (10:30 and 15:00 in London).
It is interesting that the question of how much one troy value of gold will cost in dollars is decided not by governments or presidents, but by several large banks that have the greatest power in the market. And the process of their agreement to set a single price for gold is called “fixing”. Thus, it is difficult to talk about the fixed cost of an ounce of gold, since these quotes change not just daily, but even twice a day.
The issue of the cost of gold of different grades is even more complicated. The fact is that bank quotes indicate the price of pure gold of 999 purity. And many gold products are alloys of pure gold with silver, copper, platinum and so on. Therefore, the cost will be lower in any case, unless we are talking about metal in bank bullion.
If you are planning to sell gold jewelry, be sure to keep track of pure gold quotes so you can try to sell your items when the price of this precious metal is at its peak.
Return
So many varieties
It is noteworthy that the world knows many more ounces than one troy. History remembers the following varieties of this unit, some of which are still used today:
- ounce avoirdupois;
- liquid;
- ancient Roman;
- pharmacy;
- Maria Teresa.
The main unit of weight in the United States and several other Western countries is the avoirdupois pound, consisting of 16 ounces of the same name. One ounce of avoirdupois, which has the abbreviations oz or oz at, is equivalent to 28.35 grams.
There is also the so-called fluid ounce, which is used to measure the weight of everything that is poured. The abbreviation for this measure of weight is fl oz. It turns out that there are two different fluid ounces in the world - American and English. The latter is equal to 28.413 milliliters. But in the American liquid weight unit there are 29.573 milliliters. Moreover, when it comes to liquids related to food, Americans round this value to thirty milligrams for ease of calculation.
There was also an ancient ounce dating back to Roman times. Exact data on how much this ancient Roman measure of weight could weigh is lost, but it is generally accepted that its weight was about 27.3 grams.
More accurate information has been preserved about the pharmaceutical ounce, which was used in the Russian Empire. It even existed until the 30s of the 20th century, when the monarchy was already replaced by the Soviet Union. One such unit weighed 29.86 grams.
Finally, the Maria Teresa ounce is considered the heaviest. Its weight was about 31.1 grams. This measure of weight was common in the past for some time in the European powers, as well as in Ethiopia.
The weight of any ounce, even those that experts still use today, approaches the thirty gram mark. Historians have never reached a consensus on what caused this general trend. But many experts are inclined to believe that large gold coins with which people paid for expensive goods had precisely this weight in ancient times.
Source: https://grammzolota.ru/interesnoe/unciya-grammah.html
An ounce of gold in grams: what is it equal to, the difference between a troy and a regular troy, what is it and what is it used for, cost | mk-soyuz.rf
Greetings to my readers! In France, there is the city of Troyes, famous for its architectural monuments of the Middle Ages, offal sausage and low-alcohol drinks.
Troyes is the historical capital of the Champagne province, which gives its name to the sparkling wines that the whole world drinks. And the city itself also gave its name, but not to wine, but to a unit of measurement of the mass of precious metals. A troy ounce of gold in grams is equal to 31.1034768 and is still used in jewelry, banking and cosmetology.
Troy ounce of gold
In banking calculations, the results are determined with an accuracy of 0.001 parts of a troy ounce using the rounding rule, that is, to determine the value of gold and other precious metals, a troy ounce equal to 31.103 grams is used.
Originally, the troy ounce was part of the troy weight system, which originates from the Roman monetary system. The Romans used bronze cut coins of various weights as currency. A particularly heavy bronze coin (Aes grave) weighed equal to 1 pound.
One twelfth part (1/12) of such a coin was called an ounce (uncia), in English “ounce”. Subsequent standardization of weights and measures in the early 13th century made one ounce equal to 1/16 of a pound. Such an ounce began to be called avoirdupois ounce (avoirdupois ounce; distorted from the French avoir du poids, lit.
"to have weight"), and the troy ounce (1/12 pound) came to be used to measure only precious metals.
The troy ounce of gold received its modern name from the French city of Troyes, located in northern France in the province of Champagne on the Seine River.
In the 12th and 13th centuries, Troyes became a wealthy city thanks to its three-month fairs, which attracted artisans and merchants from all over the world, including Scotland and Constantinople. The fair's exchange offices were busy exchanging ducats for dinars and crowns for pounds.
And the exchange standards applied in this case spread throughout Europe and even the world. This is why, to this day, precious metals such as gold and silver are measured in a unit known as the troy ounce (approximately 31.1 grams).
The current price for the coin “St. George the Victorious” is HERE
The most popular coin in the world “Philharmoniker” - NEXT
Goznak opened an online store selling coins
Source: https://gold.ru/news/trojskaya-unciya-zolota.html
How much does gold weigh
Throughout human history, gold has had a high price. It was only during the reign of King Solomon that gold was practically priceless. In general, this precious metal is the most desirable for every person. For most, its presence is much more valuable, even if the chain is made of the highest standard and has a small weight.
But if you think about it in general, how much does gold weigh? It is clear that the answer to this question will largely depend on what state it is in, for example, ingot or other form. Now we bring to your attention a detailed look at how much a gold bar weighs, as well as how much gold weighs in ounces and grams.
Moreover, let's consider interesting facts that are associated with the use of gold in our lives.
How much does a gold bar weigh?
An ingot, or “ingot” as it is called, is a block of metal, in our case gold. Moreover, the ingot comes in different shapes, categories and weights. In banks, as a rule, the bar has the highest purity of 999.96. Such gold is considered almost pure. Gold bars have two types:
In most cases, such bars weigh 1000 grams . If you want to purchase such an ingot, then you can do this at any bank. As for standard ingots, their weight is regulated by the state and industry standards.
The weight of such an ingot ranges from 11 kilograms to 13.3 kilograms . Another interesting fact. On the territory of Ukraine, gold bars of non-standard weight are produced, for example: 500, 250, 100, 50, 20, 10, 5 and even 1 gram .
According to official information, the weight of the largest ingot on earth, made of the purest gold, is 200 kilograms .
If we talk about the method of making gold, then there is also a difference. For example, stamped ingots are cut from flat sheets, while cast ingots are produced in finished molds. Moreover, gold is produced in the form of semi-finished products, namely wire, ribbons or foil. Most recently, a chip gold bar was made the size of a credit card. In this case, the bar weighs from 1 to 20 grams , which is sealed in certified packaging.
Another interesting fact is that in 1943, a gold reserve law was passed in the United States of America. It stated that this precious metal should be stored only in bullion. Its standard weight should be 400 troy ounces, but for commercial purposes in the United States different weights of bars are allowed.
So, for the production of jewelry, an ingot weighs 1 kilogram, but in places where gold is mined, an ingot weighs 1200 troy ounces, where they are cast. So, the conclusion suggests itself: in one ingot of 999 fineness, there are 999 grams of pure gold per 1 kilogram. It is clear that the ratio of gold in our chains is completely different.
This is due to the fact that gold is a soft metal, so the chains would break very quickly, and the rings would simply bend.
Another comparison of values is also surprising. As mentioned above, the standard weight of a gold bar is on average 11 - 13.3 kilograms. This mass is much heavier than a bucket filled with water. Therefore, when you next carry a bucket of water, you can imagine the mass of a standard-sized gold bar. It is unlikely that you will be able to hold it at least once, but no one can stop you from imagining it!
Weight of gold in a troy ounce! The history of its appearance
The troy ounce is a non-metric unit of weight commonly used in international commodity markets. In this case, the sale or purchase of gold is carried out. But how much does one ounce of gold weigh? How many grams does it contain?
One troy ounce contains 31 grams of the highest purity gold. To be very precise, then:
1 ounce = 31.1034768 grams.
Where did this dimension come from? Its appearance is attributed to the French city of Troyes during the Middle Ages. At that time it was a major financial and commercial center of Europe. Moreover, it was in this city that the most famous accurate money changers were located.
Many gold coins of that time, in most cases, weighed around 30 grams . For this reason, the troy ounce also has a similar weight and is still used in banking, jewelry and numismatics.
And still in the world, many coins are issued based on the weight of an ounce or its small fraction, namely: a third of an ounce, a half, and the like.
As for the cost of an ounce against the dollar, this was and remains the main quotation for gold throughout the world. Its value is determined using the London fixing. It is held twice a day by major players in the gold market. However, the world knows not only the size of a troy ounce of gold.
Gold in other dimensions
All over the world, other measures of gold were previously and even now used. Here are the most famous:
- An ancient Roman ounce had an approximate weight of 27.3 grams .
- An ounce of Maria Teresa had a weight - 31,1025.
- 1 pharmacy, which was used on the territory of Russia until the thirties of the twentieth century, was equal to 29.860 grams .
Each of these units of measurement is close to the sum of 30. This is precisely related to what was discussed above. Large gold coins had exactly this weight. Most likely, such an amount of metal was extremely convenient to use in trade matters. Similarly, in our times there are popular banknotes, for example, 100 dollars, 100 euros or 5,000 rubles.
But there are other measures for measuring the weight of gold, although they are less common, and if so, then only within this country. For example, the Jewish measure shekel is known - 1 shekel = 11.4 grams of pure gold . In Luxembourg, gold is measured in the unit of measurement - scrap or tola. So, 1 tola is equal to 11.6638 grams .
In Taiwan, gold is measured in bas, which is 15.244 grams . Thailand also has its own unit for measuring the weight of gold - tael, where 1 tael = 37.5 grams of gold . Not far from this value is another measure with the same name - tael, which is used in China and Hong Kong.
In these territories, 1 tael = 37.429 grams of gold .
Interesting facts about gold. How much is there?
Gold is used not only in trading operations. For example, for many years this precious metal has been used to reward athletes at the Olympic Games who took first place.
For the first time back in 1894 in Paris, a gold medal was awarded for first place, which was coated with a pure weight of 6 grams of gold . This weight was considered the standard, but over the years it has been deviated from.
Such a prize was not always welcomed, and only in 1908, at the fourth Olympic Games, they began to award medals again, only this time the medal was made entirely of gold.
Its size was small with a diameter of 3.3 centimeters, but the weight of the gold medal was 25 grams. It is worth noting that the value of such a medal has never been measured by its actual cost. For example, today a standard gold medal can cost a maximum of 250 US dollars.
This fact is confirmed by one case when the Polish swimmer in 2004, Otylya Jedrzejczak, sold her gold medal at auction, which she received in Athens, for as much as 82,500 US dollars.
The conclusion is obvious: if you want to make good money on gold, then you should win the Olympic Games and get a medal weighing 6.5 grams worth $250, sell it for 85.5 thousand! Not a bad investment for the future!
Another interesting fact, or rather, the question: how much does the gold of the entire Earth weigh? According to some estimates, approximately 145,000 tons .
But then another question arises: how many tons of gold are produced each year? It should be noted that gold mining or production is growing every year. In 2001 alone, 2,604 tons of gold were produced. But these figures can safely be called relative.
Why? The thing is that every year illegal gold mining takes place in a number of countries. Accordingly, the exact mass of gold mined for one current year can be stated relatively!
Well, have you ever thought about how much a ton of gold is? As mentioned above, gold is usually measured in ounces, which is equal to 31.1034768 grams. It's very easy to calculate. The density of gold per cubic centimeter is 19.32 grams. As for the ounce, its density is 1.61 grams per cubic centimeter. So, 1 t = 1000 kg ≈ 32,150.72 troy ounces. As a result, all that remains is to do the following multiplication:
1.61 × 32,150.72 = 51,762 cubic centimeters.
Accordingly, a ton of gold is equal to a small cube whose side alone measures 37.27 centimeters. If you had a gold bar in front of you that had one cubic meter, then it would weigh 19.321 tons .
It is worth mentioning separately about the ancients of this world. Just imagine, the golden sarcophagus of Tutankhamun weighed 1.5 tons .
So, as you can see, the answer to the question of how much gold weighs is quite varied. It all depends on what condition it is in. But everyone would agree that they wanted to have at least a small piece of gold of the highest standard, even the smallest size!
Source: http://www.skolko-skolko.ru/skolko-vesit-zoloto
How many grams are in a troy ounce of 999 gold?
The metric system of measures is familiar to modern people. But novice buyers of investment bullion may be surprised that a special unit of measurement is used as a standard for the weight of precious metals - the troy ounce (troy ounce, t oz or oz t), which has no relation to either the SI or the system of measures used in USA. For those encountering the precious metals market for the first time, it is important to understand why and how much a troy ounce of gold weighs in grams.
History of the troy system of measures
Weighing as a comparison of the weights of two objects has been familiar to mankind for thousands of years. Lever scales appear in images surviving from the earliest civilizations. This instrument was used almost unchanged until the twentieth century.
In medieval times, even money was determined by weighing. Jewelers and traders in Europe used wheat and barley grains as a standard, while in the east they preferred carob seeds. Due to the stability of their weight, four such seeds amounted to one carat.
A silver medieval penny weighed one pennyweight and was divided into two halves and four farthings by weight. A pennyweight was 1/240 of a troy pound, which in turn was equal to 5670 grains of barley, specially selected (with the same weight and length) so that they could be used as units of measurement.
The Troy measuring system supposedly originated in the 15th century in the French city of Troyes in Champagne, where large commodity fairs were held. The French-born King of England, Henry II, adjusted the British coinage system towards unifying it with the methods of weighing in Troyes. By 1527, this system had become the official standard for gold and silver in Great Britain. The US followed suit in 1828.
Ozt nowadays
Before the adoption of the metric system, troy units were used in various parts of Europe. Their values varied by several percent.
The modern unit of weight corresponds to the imperial troy ounce and the following proportions are accepted for it:
- 12 ozt is 1 tr. lb;
- 1 ozt contains 20 pennyweight.
Such ratios have a connection with the British monetary system, based on the old pound, which was equal to 240 pence. Therefore, such a weighing system is called a coin system. In the modern world, coin weights are used only for weighing precious metals and stones. According to ISO4217 codes, the following designations are assigned to the units of weight of investment metals:
- XAU - t oz gold;
- XAG - t oz silver;
- XPT - t oz platinum.
Today, ozt is the international standard for precious metals trading. All major trading platforms set prices without commenting on how many grams are in a troy ounce of gold and what quality, since experienced investors are in any case aware of such nuances.
Equivalent in SI and avoirdupois
The Troyes scale measure involves dividing the pound into 12 parts. This is very different from the everyday weight system used in the United States, in which 16 ounces equal one pound.
Traditional American weight measurement is called the avowed weight system. The standard pound is heavier than the troy pound by approximately 21.5 percent and, in terms of grain measurement, was 7000 grains (grains) versus 5760 (12 × 480) in the troy pound. Gran is the smallest unit of mass for the pharmacy, troy and avoirdupois systems.
To understand how much an ounce of gold is in grams, you need to determine the net and gross standards for measuring precious metals. On precious metals exchanges, one ounce of gold always means a troy ounce of gold with a purity of 99.99%. This is the maximum purity of the noble metal; complete removal of impurities is technically impossible. The same applies to 1oz of silver or other precious metal.
Troy weight refers to pure metal only, any other components are subtracted from the pure weight. 31.1034768 grams - this number, accurate to the seventh decimal place, is sufficient for any practical application of knowledge of how many grams are in an ounce of 999 fine gold. 31.103 is a number that is easy to remember, meaning how much an ounce of gold weighs in grams in an approximation convenient for everyday use.
Between the metric, troy and avoirdupois systems, a large number of ratios in units can be made due to the cumbersomeness of traditional measures. For understanding, the following values converted to SI kilograms will be sufficient:
- 1kg = 35.2740 oz;
- 1kg = 32.1507 ozt;
- 1oz = 0.9114 ozt;
- 1oz = 0.02835 kg.
To measure the weight of gold items, a troy grain can be used, which is equivalent to a mass of 0.0648 grams.
Modern weight coins
The weight and purity of gold coins can be divided into two categories. The first is historical or everyday coins made of precious metal. The second includes those intended for investment purposes along with bullion.
Such coins are minted in accordance with the troy weight system and the following values are traditional for them:
- 1/10 t oz;
- ¼ t oz;
- ½ t oz;
- 1 t oz.
Gold Krugerrand
Minted at the South African Mint. In 1980, it accounted for 90% of all world gold coins. The name itself is a combination of the person's name on the front side and the unit of South African currency. In the 1870s. and 1980s. years, some countries banned the import of the Krugerrand due to links with apartheid South Africa. Now the coin is popular among collectors and investors.
Kruger rand production levels have varied considerably over half a century. In the first years, 40 thousand coins were minted, in 1970 the issue increased to 200 thousand copies and continued to grow. In total, approximately six million Krugerrands were produced.
The coin was developed as a means of private investment in gold, was sold equivalent to its price and had no face value, but had the status of legal tender. In addition to the ounce Krugerrand, small coins were minted in half and quarter and tenth oz t. The emission contains about 46 million ozt of gold (about 1500 tons). The Krugerrand's success prompted a reaction from other government mints, which also began minting coins on a fractional ounce basis.
Maple Leaf
Produced by the Royal Canadian Mint since 1979. Face value: 50 Canadian dollars. The market value varies depending on the price of gold. Its purity sometimes reaches 99.999%.
In addition to standard denominations, it is produced in weights of 1/25 and 1/20 t oz. The obverse and reverse feature a profile of Elizabeth II and a Canadian maple leaf. In 2007, the Royal Canadian Mint introduced a coin with a face value of $1 million with a gold price of $2 million. Its diameter was 50 cm, a thickness of 3 cm and a weight of 100 kg.
Chinese panda
A series of coin bars issued by the People's Republic of China. A Chinese mint official introduced a gold panda coin in 1982. The design has changed every year since then.
This coin comes in a variety of sizes and variations ranging from 1/20 t oz to 1 t oz. There are also a number of silver coins with the same characteristics. There are “Giant Panda” coins weighing 5 and 12 t oz.
American eagle
Produced since 1986 in 1/10, ¼, ½ and 1 t oz weights. The actual weight of gold indicated is guaranteed by the US government. The silver content of the alloy is 3%, which makes the coin not as red as the Krugerrand.
22 carat gold alloy (916 hallmark) is traditional English gold. It has not been used on US coins since 1834. By 1837, the gold content of the coin alloy had dropped to 90%. By the time the American Eagle appeared, the content had increased again to 91.67%.
Australian nugget
Minted by the Perth Mint, introduced by a company wholly owned by the Australian Government. Denominations were produced in 1/20, 1/10, ¼, ½, 1, 2, 10 oz and 1 kg of 99.99% gold. They have legal tender status in Australia. An annual limited edition with an original design makes the Australian Nugget a collector's item.
It has two unique features: a two-tone effect due to the rough matte and glossy surfaces and a custom hard encapsulation that protects the coin from impacts and scratches. These features were unusual for standard gold coins and allowed the Nugget to carve out a unique niche in the market.
Austrian Philharmonic (philharmoniker)
The coin has been minted in 99.99% pure gold since 1989. Issued annually in four denominations, sizes and weights. Legal as a means of payment in Austria, after circulation it inevitably ends up in private collections. According to the World Gold Council, it was the most traded coin in the world in 1932, 1995 and 1996. Produced in a weight of 1 t oz and a denomination of 100 euros.
On the reverse side there is a set of musical instruments representing the Vienna Philharmonic, on the reverse there is a large organ of the concert hall. The denomination of Philharmonikers is indicated in shillings (until 2002) or euros. The weight, purity of the alloy and year of manufacture are also indicated. Since 2008, not only gold, but also silver Philharmonic coins have been minted. Their design is identical to the gold coin except for the stated nominal value of 1.5 euros.
It is obvious that the minting of weight coins not only has not died, but is also experiencing a rebirth. Investors around the world buy and sell gold in troy ounces, so the idea of purchasing legal tender multiples of ozt values will always be attractive.
Source: https://VseoMetallah.ru/zoloto/skolko-gramm-v-trojskoj-untsii
