28.3495 grams to 1 ounce 31.1030 grams to one troy ounce probably a silly question but it's stuck in my head now and I wanna find out what you guys think... the spot price of gold or silver or other pm's are they in troy ounces or regular ounces also if they are in regular ounces would a 1 troy ounce coin be worth at least 109.71% of the price of a pm per ounce? Alex
some other terms for you ASW: "The Actual Silver Weight (ASW) of a bullion coin or bar is the amount of fine, pure, or intrinsic Silver content in troy ounces." Avoirdupois: The avoirdupois system is a system of weights (or, properly, mass) based on a pound of sixteen ounces. It is the everyday system of weight used in the United States, and is still widely used to varying degrees by many people in Canada, the United Kingdom, and some other former British colonies despite the official adoption of the metric system.
Also, the 'spot' price of silver is per ounce for 1000 ounce bars...anything smaller has been re-manufactured and will always command a premium.
To further confuse, the troy pound is 12 troy oz. So some coins/medals/bars that say they contain one pound of gold means they contain 12 troy oz of gold This has caught a lot of new "investors".
This is an interesting discussion. A Troy ounce is 9.71% heavier than an American oz., but an American pound is 21.5% heavier than a Troy pound. Hmmm... Troy 31.1030 grams = ounce x 12= 373.236 grams in a Troy pound American 28.2495 grams = ounce x16 = 453.592 grams in an American pound
Usually pm prices are given in troy ounces, but it is worth noting the difference in avdp pounds and troy pounds, if you see an auction where someone has weighed 80 pounds of silver on their bathroom scale, figure the troy weight with the above references by dave 92029 453.592 grams in an american pound, equals roughly 14 and a half troy ounces (doing the math so you don't have to)
