Troy ounce of gold in grams. The use of a fluid ounce and the rules for converting it to ml

When it comes to the weight of precious stones and metals, the term “ounce” appears, which is unusual for the average person. This measure has been known since Roman times and was the main unit of weight in Europe during the Middle Ages. Now it is not as widespread as it was before. Most often it occurs in transactions of purchase and sale of precious metals. Let's figure out how to find out how much an ounce of gold weighs in grams and what it is needed for.

A measure of weight with a rich past

When you hear the word “ounce”, you should know that the ancestor of this unit of weight was troy ounce. In international practice, this value has a fixed abbreviation consisting of three letters in Latin letters. This can be an option t oz or ozt.

This mass value received its name from the French city of Troyes. In the Middle Ages it was large shopping center, where representatives of different nations brought all kinds of items in demand. To avoid confusion with calculations, all goods were bought and sold for pure gold. And the main measure of gold became the troy value. One troy ounce of gold weighs 31.103 grams.

Moreover, between 1824 and 1858 the troy pound (comprised of twelve ounces of the same name) was the basic unit of weight in Great Britain. Then the metric system of measures became generally accepted, which is used by most modern people. But goldsmiths continue to use the troy value in calculations. This is a kind of gesture of continuity between generations of jewelers and a tribute to this figure with its rich past. In addition, it is used in cosmetology when weighing particularly expensive and unique ingredients.

It is in the troy unit that the mass of precious bank investment coins is measured.

Painstaking calculations

In order to correctly and quickly convert an ounce of gold into grams, you can use one of the online converters that are available in sufficient quantities on the Internet. If you do not have the opportunity to use World Wide Web or you are just a supporter of traditional calculation methods, you can do it yourself. To calculate the weight of a precious measure you will need a special formula:

(? oz) x (1 lb/16 oz) x (1 kg/2.2046 lb) x (1000 g/1 kg) =

Explanations of abbreviations used

Using this formula, you can find out how many grams of gold are in, for example, five or nine ounces:

5 oz x (1 lb/16 oz) x (1 kg/2.2046 lb) x (1000g/1 kg) = 141.749 g

9 oz x (1 lb/16 oz) x (1 kg/2.2046 lb) x (1000g/1 kg) = 255.148 g

Thus, to calculate exact quantity grams in this unit you need to know the values ​​of one avoirdupois ounce, kilogram and avoirdupois pound in grams.

How much does an ounce of gold cost?

If we talk specifically about the “yellow devil”, then the importance of the troy unit for this precious metal is difficult to overestimate. The fact is that the cost of gold is calculated in US dollars per troy ounce, and not per gram. Every day in Great Britain, in London, the question is decided how much this one measure of gold will cost in dollars. Moreover, prices are set twice every day. According to Moscow time, this happens at half past two in the afternoon and at six in the evening (10:30 and 15:00 - London time).

It is interesting that the question of how much one troy value of gold will cost in dollars is decided not by governments or presidents, but by several large banks that have the greatest power in the market. And the process of their agreement to set a single price for gold is called “fixing”. Thus, it is difficult to talk about the fixed cost of an ounce of gold, since these quotes change not just daily, but even twice a day.

The issue of the cost of gold of different grades is even more complicated. The fact is that bank quotes indicate the price of pure gold of 999 purity. And many gold products are alloys of pure gold with silver, copper, platinum and so on. Therefore, the cost will be lower in any case, unless we are talking about metal in bank bullion.

If you are planning to sell gold jewelry, be sure to keep track of pure gold quotes so you can try to sell your items when the price of this precious metal is at its peak.

Beginner investors often encounter weight confusion because they do not know how many grams are in an ounce of gold. Having bought an ingot, a person suddenly receives more metal than he expected to receive. But is it?

This happens because even in modern world They use a system such as the troy ounce to determine the weight of gold. And this ounce is often confused with an ordinary ounce, since grams are used in Russia.

Therefore, when buying on foreign markets, you must take into account the fact that a troy ounce weighs nine point seven percent more than avoirdupois.

Ounce avoirdupois

Abbreviation oz or oz at - in the USA and a number of other countries the basic unit of weight is the avoirdupois pound (453.592 370 g). It consists of 16 oz. The weight of an ounce of avoirdupois is 28.35 g (28.349 523 125 g).

What is a troy ounce?

This is the name of the unit for determining the weight of precious metals, which is included in the troy system of measures. Designated as TR.OZ, or troy ounce, or simply ozt. This system was used by the Romans to measure gold, silver and gems. This system includes pound and grain.

To understand the difference, you need to know what an ounce is equal to.

So: One troy ounce will be equal to 31.1034768 grams. A pound is equal to 373.2417216g. or twelve troy ounces. A grain is equal to 1 in 480 ounces or 64.79891 milligrams.

There is no need to confuse the pound in England and the troy pound, since the latter is rarely used nowadays. And it is absolutely necessary to separate the ordinary and troy ounces.

In the modern world, it is sometimes still measured in troy ounces, especially in the financial sector, in jewelry stores, in the pharmacy and cosmetics industries. In order to calculate the metal in banks, the troy ounce is rounded, and it turns out 31.103 grams.

In this case, it is not clear why use an outdated system. Why can't you use more modern systems measures Let's try to answer this question.

The most important feature troy ounce is its convenience in calculating the weight of precious metals to determine their prices in the banking and jewelry industries.

How to convert ounce to grams

This can be done using an online calculator. To find out how many grams there are in an ounce of gold, you need to enter the number of ounces and the calculator will automatically convert it to grams. The troy ounce is a kind of royal symbol for measuring gold.

Some coins are equal in weight to exactly a troy ounce:

• USA golden eagle
• golden buffalo usa
• Gold bar Australia
• Panda China
• Krugerrand South Africa
• Maple Leaf Canada
• Philharmonic Australia

The ancient city of Troy in no way influenced the name of the troy ounce. The troy ounce was named after a small town in France - Troyes. This city became popular in the twelfth century because it hosted fairs with the participation of merchants from all over the world.

Previously, each country used its own system to measure the value of gold, which constantly created difficulties. At first it was proposed to take the livre as the universal standard; the same system included the troy pound. Soon the troy ounce became the main way to determine precious metals.

The word ounce from the Latin “uncia” arose back in times Ancient Rome. Residents used huge bronze coins as money, after cutting them into pieces. Thus, one twelfth of this coin became known as an ounce and had a weight of 27.288 grams.

Collectible One Ounce Coin

Naturally, this differs from the weight value of a modern ounce. After a short time it became very common as a unit of weight throughout Europe. Subsequently, many countries around the world began to use the metric system in measuring weight. But an ounce oldest unit still in use in jewelry and banking.

History of origin

Since the 13th century, 1 ounce has been equal to 1/16 of a pound. As a rule, if we're talking about When talking about the concept of an ounce of gold, they usually mean a troy ounce. The story of its origin is interesting. In the French city of Troyes, which is located in the province of Champagne, in the 12-13th century, world-famous fairs were held, where, due to the need to exchange money (of which there were many types, since traders from all over the world came there), the development of unified measurement system standard.

The basis was the French livre, which was equal to a troy pound of silver. When exchanging precious metals, gold was measured in troy ounces. Since then, it has become a measure that determines the weight of precious metals in many modern countries. A weight equal to a twelfth of a troy pound is the weight of an ounce. The troy pound, or otherwise the gold coin pound, existed as the main weight unit in England from 1824 to 1858 and was equal to 373.2417 grams. Thus, one troy ounce of gold in grams has a weight of 31.1035 grams.

City of Troyes in France.

Price

Many people are interested in the gold rate, or?

Around the world, the yellow metal has a value expressed in United States dollars per ounce. Although the metric system is more common today, an ounce of gold is a symbol of centuries-old traditions, and its price is determined by a standard of quality and purity.

The London fixing, which is carried out by the main players in the precious metals market (they are representatives of the five largest world-class banks), determines how much 1 ounce of gold will cost.

The fixed price is set twice a day: 10:30 and 15:00 London time or 13:30 and 18:00 Moscow time. Thus, the price of the precious metal in troy ounces is constantly changing.

IN last years the price of the yellow metal increased from 520 to 1250 US dollars. According to many financial analysts, one should expect a constant but smooth increase in value. And this gives a good reason to invest in its purchase to protect them from inflation. Today, for 1 ounce of precious metal you can buy the same benefits as two centuries ago. For example, in the 18th century, one ounce of gold could buy excellent men's suit and now its price is at the same level.

London fixing online

Units of measurement in different countries

Shekel. It is of Hebrew origin. Not used often and equals 11.4 grams. A quarter of a shekel is 2.85 grams.

Some countries use their own units of measurement.

For example, a tola unit equal to 11.6638 grams is used in Luxembourg. It is measured when buying or selling scrap gold and other types of gold.

One bass in Taiwan will be 15.244 grams. In Thailand, a thael is used equal to 37.5 grams, and in China and Hong Kong one thael weighs a little less - 37.429 grams.

Varieties

Usually, when making a transaction to buy or sell an item, a person asks not only what an ounce of gold is and what its price is in grams, but is also interested in the fineness and weight of the item. It is also necessary to know that in addition to Troy, there are several other varieties in circulation:

• The pharmacy, in which 1 ounce equals 29.860 grams, was common in Russia until the end of 1930;
• Maria Teresa, containing 31.1025 grams;
• Ancient Roman, the most widespread in history ancient world, and when asked how much 1 ounce is a gram, at that time they said that it was 27.3.

Historically, many coins weigh exactly one ounce.

Thus, you need to know how much a troy ounce of gold weighs before you buy or sell an ingot or coins or scrap.

In our turbulent times, one of the most important indicators of the reliability of the economic condition of a country is the totality of its gold reserves. When talking about the value of this yellow metal in one currency or another, they use a rather strange measure called the troy ounce of gold. For some reason, the cost of this metal is not reflected in grams. How did this happen, why is the universal weight unit not used when weighing gold? And how much does a troy ounce weigh in grams?

What is an "ounce"

The concept of an ounce was born in Ancient Rome. In those days, bronze coins were in circulation, which were divided into parts. The twelfth part of a bronze ancient Roman coin was called an ounce. In modern equivalent, its weight was just over 27 grams.

Over time, the ounce began to be used not only as currency unit. Since Rome had fairly strict standards for minting coins, ounces became convenient for weighing small measures of various substances. The price of gold has always been high, so the ounce was the best choice for weighing this metal. Over time, this small measure of scales spread throughout Europe.

How to convert troy ounce to grams

Converting troy ounces to grams is quite simple. It should be remembered that one troy ounce is equal to 31.1035 grams. Accordingly, to convert, you should multiply this value by the required number of ounces.

When buying or selling precious metals, a unit of measurement that is unfamiliar to many is the ounce. Much simpler and clearer, we are used to Everyday life Use the metric system, measure weight in grams. However, in international practice, this is the standard for determining the value of precious metals. The answer to the question: 1 ounce, how many grams, is not as simple as it might seem at first glance.

Translation problems

Translation problems arise due to the presence of different names depending on the field of use and the country where it is used. Adding to the confusion is the fact that some countries, such as the United States, still do not use the metric system, preferring the traditional one.

• Avoirdupois (oz or oz at) – 28.35 g, used by the USA as a measure of weight.
• Fluid ounce (fl oz) – 29.573 531 ml, used to determine the volume of liquid.
• Troy ounce (toz or ozt) – 31.1034768 g, this value is used throughout the world to measure the weight of precious metals.

Troy ounce

The troy ounce is a generally accepted measure for precious metals.

Simplified meaning for translation: 1 ozt – 31.1035 grams.

It should be noted that in international trade this unit is used only to determine the mass of pure metals of the highest standard.

On world currency markets, the XAU index is used to indicate the rate of 999.9 gold. Mints different countries coins weighing 31.1 g are minted. Many, both old and modern money made of gold and silver, have this denomination.

origin of name

Uncia– Latin term means 1/12 part. This concept came to us from Ancient Rome, but the troy ounce appeared as a measure of weight much later. This name has nothing to do with ancient Troy and comes from the name of the French city Troyes(Troyes), Champagne province.

In the Middle Ages, famous champagne fairs were held here, where traders from different countries gathered. The presence of various measures led to the need to use some kind of unifying value.

This unit became the troy pound and its 1/12th part - the troy ounce. In the 19th century, Great Britain became the center of world trade. Which inherited and finally consolidated the use of this measure as the main one in international trade in precious metals.

Using recalculation in practice

The need to convert ounces to grams arises, in most cases, when trying to calculate silver per gram in national currency, for example in rubles, today. The calculation algorithm is quite complex and requires knowledge not only of the cost of the metal in dollars per ounce, but also of the ruble/dollar exchange rate. It looks like this:

the cost of gold (USD/ozt) divided by 31.1035 and multiplied by the exchange rate USD/RUB, we get the price of gold in RUB/g.

There is a calculator for calculating the cost of gold, which makes calculations based on data from the Central Bank, which makes it much easier and faster to get the desired result.

You can find on the Internet a large number of unit converters, when using such programs to convert the weight of precious metals, it is important to remember that you need a troy ounce, and not some other unit.