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Dan
Lv 7
Dan asked in Business & FinanceInvesting · 8 years ago

What is a TROY oz, as in gold?

Is there a Troy POUND? The news stories about gold pricing, is that in Troy's or regular ozs?

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  • ?
    Lv 6
    8 years ago
    Favorite Answer

    A troy ounce is @31.1 grams and the more commonly used avoirdupois ounce is @23.85 grams. Both ounces are legal standards. If you write down ounce as a weight the law says it is assumed to be the avoirdupois ounce. If you use the troy ounce you must state that its a troy ounce. Troy ounce is an older standard the avoirdupois ounce was adopted back when scales were mostly the balance variety. It's smaller gradation allowed merchants to use a simplified set of weights.

    Source(s): http://en.wikipedia.org/wiki/Scale_(weights_and_me... http://en.wikipedia.org/wiki/Ounce
  • wg0z
    Lv 7
    8 years ago

    a troy ounce is 31.1 gram and the unit is definitive. the term troy pound is generally considered indefinite/ meaningless. precious metals trade in troy ounces unless another unit is explicitly refernced.

    buyng/selling gold by the gram might be reasonable, as might silver by 100 g or kg.

    normal quotes for gold prices are for a troy ounce.

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