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How Gold Is Measured

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     How Gold Is Measured In the category gold discovery more articles and learn more information about How Gold Is Measured Reviews Price Specifications Features Image manuals videos Accessories All this in metal detectors for gold.


    How Gold Is Measured



    Gold Facts

    Symbol=Au

    Melting point= 1948 degrees Fahrenheit

    Specific gravity is 19.3

    Hardness=2.5 on Mohs scale

    How Gold Is Measured


    Gold, Silver, and other precious metals are universally bought and sold in

    Troy ounces. A Troy ounce is heavier than a standard ounce as there are only

    12 troy ounces in a pound. Troy ounces are usually subdivided into either

    Pennyweights, abbreviated (dwt), or Grams. Professional gold dealers prefer

    grams but pennyweights are preferred by gold prospectors.

    In the pennyweight system each Troy Ounce is divided into 20 units called

    Pennyweights and each pennyweight is further divided into 24 grains.

    Therefore one troy ounce is equal to 480 grains. This is the same system used

    in measuring gunpowder and probably accounts for the popularity of the

    pennyweight system. Most of the early prospectors had no idea what a gram

    was but they all had a gun powder scale that was calibrated in grains.

    The metric system is easy to use because all you need to remember is that one

    troy ounce is 31.1 grams. Since this is based on the metric system grams are

    simply divided into 1/10th or 1/100th units.

    When you are buying or selling gold you must be careful when talking to

    someone about a quantity of gold. Make sure that the ounces you are talking

    about are the same ounces you are thinking about. Here are a few conversions

    to help you keep this straight.

    One Troy lb (pound)=12 troy ounces

    One troy oz=20 pennyweight (dwt)

    One pennyweight = 24 grains

    One troy oz=480 grains

    One troy oz=31.1 grams


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