Coins, precious metals, and monetary systems have a long history. As a result, many different methods have been used to weigh and measure coins. The troy ounce is one of the oldest measurement units, and it remained in use in certain circles when this article was published.
What Is a Troy Ounce?
This medieval measurement unit takes its name from Troyes, France, where it originated. It has long been used for weighing precious metals. The British Empire first adopted the practice in 1527, and the United States has used it since 1828.
What Is an Ordinary Ounce?
When people mention an ounce, they often mean an avoirdupois ounce, equal to 1/16 of a pound. Avoirdupois names the weight system used in the United States and in certain other English-speaking nations.
How Large Is a Troy Ounce Compared With an Ounce?
- One troy ounce equals 31.1 grams
- One regular ounce equals 28.3 grams
The Troy Ounce’s History
Although the measurement takes its name from Troyes, France, its original source is less certain. Many people believe the Romans used a comparable measure because they made significant efforts to standardize monetary systems. Within those systems, Romans used bronze bars consisting of 12 individual “unicas,” with each piece weighing about 31.1 grams, similar to this unit. Historians therefore believe Troyes merchants modeled their monetary system on weights resembling those used by the Romans.
At the time of original publication, the article described the following: Using the Measurement Today
At the time this article was published, buyers and sellers generally used this measure instead of ordinary ounces when buying and selling gold, silver, and other precious metals. Familiarity with it was important because some sellers might increase a product’s apparent value by listing it in ounces. For example, a buyer could purchase 100 ounces of gold bullion and lose 10 percent of the purchase’s value because it weighs only 90 troy ounces.
Gold Coins
Not every such coin weighs exactly one troy ounce, or 31.1 grams. Two popular gold coins in the industry are American gold eagles and South African gold krugerrands. These coins are 22k and include gold plus base metals to improve durability. They contain exactly one troy ounce of fine gold. However, the added base metals used in making these coins bring their overall weight to 33.93 grams.
Troy ounces are among several basic terms buyers and sellers of precious metals or coins should understand. When this article was originally published, readers seeking more information about the process or its products were invited to view the current inventory online or call 404-236-9744 to request an appointment with Atlanta Gold & Coin Buyers.
