In the United States and Britain, as well as countries using the metric system, the price of gold and other precious metals usually goes by the ounce, but this actually refers to the troy ounce. This obscure unit comes from the old troy system that has otherwise become obsolete. One troy ounce represents the equivalent of approximately 31.1 grams.
Grams to Troy Ounce Conversion
One troy ounce of weight is the same measurement as precisely 31.1034768 grams. This means that if you know the weight of an object in grams, you can divide that number by 31.1034768 to find the answer in troy ounces. For example, if an item weighs 100 grams, you can divide that by 31.1 and know that the item weighs approximately 3.215 troy ounces.
Customary vs. Troy Ounce
One standard ounce equals 28.3495231 grams, meaning that a standard ounce represents slightly less absolute weight than a troy ounce. To convert standard ounces to troy ounces, you can multiply the weight in ounces by 0.911458333 to find the answer in troy ounces. Measurements in pounds can be multiplied by 14.58 to find the figure in troy ounces. To change troy ounces to regular ounces, multiply the troy measurement by 1.09714286; you can divide troy ounces by 14.58 to find an answer in pounds.
Troy Weights History
Originating during the Middle Ages, the troy weight system is believed to take its name from Troyes, France, a town about 100 miles east of Paris. The units later became standard for general use in the British Isles. In 1828, the U.S. Mint officially adopted the troy ounce as the standard unit for regulating its coin production. The metric system and what we now call customary units (or English units) have since become standard for all uses besides in precious metal markets.
The troy system varies in multiple ways from the customary English units. A troy pound consists of 12 troy ounces, rather than the 454gr in a standard pound. Each troy ounce consists of 20 pennyweights and each pennyweight consists of 24 grains, the smallest troy unit. A troy pound measures the same as another unit called the "apothecaries' pound," but otherwise the system differs from other ancient systems such as the avoirdupois weights system.
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