Troy ounce of gold in grams. What does the concept of an ounce include in the field of gold and precious metals?

How to convert ounces to grams? In order to learn how to convert these quantities, first of all, it is necessary to say what this very ounce is.

The word ounce, or “uncia,” takes its name from ancient Rome. In turn, an ounce, in the concept of the ancient Romans, was 1/12 of a large bronze coin weighing 27.288 grams, or one tenth depending on the time.

Since the 13th century, 1 ounce has been equal to 1/16 of a pound. Needless to say, the modern ounce differs significantly in weight from the ancient Roman one.

Years later, this measure of weight was used throughout Europe, and in modern world it is widely used in banking, pharmaceuticals and jewelry. Therefore, the need to convert ounces to grams arose there.

As a rule, when people talk about gold, they most often mean the troy ounce.

Convert oz to grams

It is worth noting that the ounce has the international designation oz. 1 ounce, per this moment, is 28.349523 grams. The value of this value changes twice a day and depends on the London fixing rate.

Of course, in the modern world there are a huge number of currency converters that can easily help you convert one value into another. We are pursuing another goal - to learn how to independently translate these values. This way we can find out how many grams an ounce is.

The formula for calculation will be as follows: (? oz) * (1 lb/16 oz) * (1 kg / 2.2046 lb) * (1000 g / 1 kg) =

To calculate how many grams are in ounces, you need to substitute the value you are interested in. So, 1 ounce in grams will be:

1oz * (1lb/16 oz) * (1 kg/2.2046 lb) * (1000g/1 kg) = 28.349814g

Four ounces:

4oz * (1lb/16 oz) * (1 kg/2.2046 lb) * (1000g/1 kg) =113.396041g

5 oz:

5oz * (1lb/16 oz) * (1 kg/2.2046 lb) * (1000g/1 kg) =141.749070g

9 oz:

9oz * (1lb/16 oz) * (1 kg/2.2046 lb) * (1000g/1 kg) =255.148326g

This method is one of the most accurate; it will easily help you find out how many grams are contained in a particular quantity of oz, thereby showing the weight of an ounce.

In addition to this method, the table will help you find out how much one tenth or more of an ounce contains:

• Few people know that in addition to a measure of weight, 1 ounce can be represented as a measure of liquid volume, or 1 fl oz, so 1 ounce in grams will be equivalent to 30 ml of liquid.
• Freely convertible currencies currently account for 15% of the entire financial market;
• 1 pharmacy ounce is 29.860 grams. This value was widespread until 1930, then lost its validity;
• Not every person knows about Maria Theresa's ounce, which was 31.1025 grams. This coin was forged many times, and finally, for the tenth time, it came out the way the queen wanted.

An ounce is a unit of weight used in the banking and jewelry markets to measure precious metals. The measure was used by most peoples of Europe, having borrowed it from the Romans. It has become one of the most common units of weight throughout the world.

It is considered a kind of standard for the weight of gold. This unit determines the weight, volume and strength of objects and substances in many countries.

Common measure of gold

Gold has always been a measure of wealth and success. This metal has long been valued; jewelry and cash coins were made from it.

In order to determine the value of a gold product, it is important to know its exact weight. Such that it would be understandable in any country. In ancient Rome, a coin was used that was divided into parts. It was one twelfth of its component that was called an ounce. In grams, its weight was approximately 27. The troy ounce was also used to measure the weight of bread.

The minting of coins was always carried out under strict control, which means that the weight of the coins was always accurate and was often used to measure the weight of small measures of various substances. The yellow metal has always been expensive, so it required careful measurements to more accurately estimate the value.

This small measure of weight was so convenient that it spread throughout Europe. Furthermore, on modern market gold and precious metals, the ounce of gold continues to be successfully used as a measure of weight.

Unit division was also used for fractional calculations. Ounces and its multiples were suitable for determining:

• the size of the inheritance;
• measures of length;
• surface measures;
• capacity measures.

Types of measurements

When buying gold, you need to clearly know its weight. There are:

It does not matter whether gold is bought or sold, in the form of sand, bars or coins, the size of an ounce is approximately 30 grams.

This fact is explained by the fact that for a long time a stable unit of measurement, the ounce, was used to measure the weight of precious metals. For hundreds of years, the question of discrepancies in weight measures has constantly arisen. The world needed a unified calculation of the weight of precious metals that everyone would use. The ounce has become such a measure, which has held its position for many years.

Troy ounce

After the collapse of the Roman Empire, the minting of coins was not so strictly controlled, as a result of which they could be in different regions different in weight.

In France, namely in the city of Troyes, in the 12th-13th centuries huge fairs were held, which attracted traders from all over the world. Thus, the need for a unified measurement standard arose. For this function, we chose the troy ounce, which is still used to exchange precious metals. Merchants easily changed coins at special exchange offices thanks to the introduction of a single standard. The French liv was used as the basis for the troy ounce. It consisted of a troy pound of silver and at that time was approximately 31.103 g.

On the one hand, many people ask the question: why complicate everything and translate into measures a weight that is not equal to the whole number of grams familiar to most?

Along with gold bars, many banks also issue gold coins. So you can invest money in gold in different ways.

Moreover, the weight of the coin may fluctuate, but the composition of the precious metal is neither more nor less – exactly troy ounce. You can name such famous gold coins as the Australian Lunar and Philharmonic, the American Buffalo and Eagle, the Canadian Maple Leaf and the Chinese Panda. Thus, a rather old measure of weight entered quite tightly and took its place in the modern world.

Cost of an ounce of yellow metal

For many years a bar of gold cost £3 17s 9d. But the first World War everything changed radically. Gold miners flatly refused to sell the tears of the sun. They turned to the Rothschild family. So September 12, 1919 became the day of the world's first fixing. Fixing is the price of a product at a certain time in a certain place.

Prices are set twice a day and depend on:

• the number of applications for the purchase of yellow metal;
• number of applications for gold sales.

This is how the price of gold is formed when calculating the percentage. The base unit remains the troy ounce. To calculate how many grams are in a gold product, you need to remember that an ounce is equal to 31.1035 g.

The fixed price of the metal, 1 ounce of gold, is set twice a day at London time at 10.30 and 15.30.

The price of the yellow metal is constantly increasing. For many years, the same weight can buy approximately the same goods.

For one amount of precious metal you could buy a suit 200, 100 years ago, and in our time the price is approximately the same. This means that gold is an excellent and profitable way to invest money that is not afraid of inflation and depreciation.

Now there are both supporters and opponents of changing weight measures. Some suggest using more modern systems measurements, others prove the convenience of proven old methods. In any case, the ounce has served for many years and may well continue to do so.

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, however, 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.

The English system has such a concept as a troy ounce. The name itself is borrowed from the name of the French city of Troyes. 1 ounce today is especially popular in indicating the mass of certain jewelry; it shows the weight. This type of measurement is also known in other various areas, as in particular in cosmetology. Certain types of ingredients are designated by this term (their weight).

1 ounce is...

An ounce is a measure that was used in ancient times. In Rome, such a measure took place and its weight was 27.3 grams. IN ancient Ethiopia, and also in various cities of Europe there was such a measure of an ounce (Maria Teresa) - 31.1025 grams. In pharmacy, until the 27th year of the last century, the measure of one ounce was equal to 29.86 grams. During the transition to another system of measures in the Netherlands, a certain value was adopted for an ounce - and this is the weight of 100 grams. A certain designation was adopted for the troy ounce (depending on the type of metal):

• palladium - XPD;
• platinum - XPT;
• silver - XAG;
• gold - XAU.

Currently, one ounce is a measure that is used to denote metals (precious). One troy ounce is equal to 31.1034768 grams, which is one-twelfth of a pound, which is used to denote the weight of the gold metal in England. Gold coins are also measured in ounces, which indicates their actual weight. But the price of a particular coin is primarily influenced by its features, not just its mass. However, as a measure they resort to an ounce.

Ounce - how many grams?

People who want to buy gold are wondering: how many grams are in 1 ounce? Today, thanks to the Internet, you can calculate how many grams are in an ounce and convert the weight of the gold metal into ounces. It should be noted that today the international market still uses such a measure as an ounce as a unit of weight; it is equal to a certain value.

Let's say gold weighs 100 grams, then an ounce is equal to: 3.2151. Gold bars with the designation of this measure prevail over others with a weight indicator in grams. This is why it is so important to understand what an ounce is and how many grams it means. Understanding such a concept as the weight of an ounce, you can easily calculate how many grams a particular gold bar weighs. Today, the weight of an ounce can be calculated using a special calculator.

In order to understand the situation on the world market, it should be taken into account that throughout the world the cost of an ounce is expressed in dollars. This is customary in all countries of the world. 1 ounce in grams will represent a troy unit. This centuries-old tradition, despite some difficulty in perception by contemporaries, is still particularly stable in our times and there are no plans to change it.

From history - what is 1 ounce equal to?

The city of Troyes, which gave the name to the ounce, is located in the provincial region of Champagne, on famous river Seine, in northern France. The town has a great past, steeped in centuries-old history. In ancient times, when gold gained particular popularity, the designation was adopted - what is the equivalent and how much of 1 ounce is a gram. This allowed us to avoid many misunderstandings.

This measure began to be used especially actively during the emergence of folk fairs, which attracted traders and buyers from around the world. It was then that people first began to wonder: how much does an ounce weigh?

Merchants who in ancient times purchased gold exchanged it at special points; it was then that a universal unit of mass of gold was adopted, it was about an ounce. A standard system was adopted at fairs; it was very convenient in trading.

At first, the livre (French) was used, which contained the silver pound itself. Knowing how many grams are in one ounce can help you avoid many problems regarding buying and selling gold. Thanks to the ounce, today it is possible to calculate the value of gold on the world market. After all, this is precisely the measure that applies to gold bars and coins.

London fixing

The London fixing (gold price) sets the price of gold around the world. In London, this price is set as a result of a decision made by representatives of the world's five largest banks. These are players in the metals market, which are of particular value and demand throughout the world. The price is set twice a day, in the morning and after lunch: at 10:00 and at 15:00 (Moscow time: 13:30, 18:00). It is after this time that price fluctuations on the global precious metals market can be monitored.

In order to protect their enterprise during inflation and crisis, entrepreneurs resort to methods of investing their investments. Buying gold can help you avoid difficult moments. To do this, you need to know what an ounce is equal to and track the price of precious metals based on London fixing data. Methods of investing in gold to avoid problems in difficult times:

• gold bars (measured), gold bars are bought or sold in a bank (special documents are required);
• gold coins (collectible or investment);
• impersonal metal accounts (depositors buy impersonal gold metal stored in the account, and have the opportunity to receive either money or gold at any time).

Power

Today, gold coins are especially popular. Investment coins of this type have certain characteristics:

• value in terms of artistry and investment;
• have a solid circulation;
• investment coins have a special manufacturing technology - uncirculated;
• unlike other investment coins, they are timed to coincide with certain events.

A distinctive feature of purely investment coins from collectible coins is profitability due to the increase in the value of the metals on the basis of which they are created. Knowing the state of affairs on the international market and having knowledge of weights, you can secure your business and make a good profit from buying and selling precious metals.

Gold, like an ounce. What does this mean? What does this correspond to in our usual units? What is the history of this concept?

A troy ounce of gold in grams is 31.1034768. This unit of measurement is also used for other valuable substances: silver, platinum and more. Valuable ingredients in the cosmetics industry are also sometimes measured by weight using this measurement.

Despite the fact that an ounce of gold in grams is not a whole number, but a rather complex number, it has remained the de facto standard for many centuries. This began a long time ago, at the height of the Middle Ages. In the twelfth century, fairs took place annually in the French city of Troyes, which attracted huge numbers of people, goods, and money from various countries. There was a need for a standard unit of measurement for precious metals that would allow for correct calculations when trading, despite the fact that coins were in use different types and different denominations. In those years there were no banknotes, and coins were often valued based on their exact weight.

But this is not the only ounce of gold known in history. In grams, which amounted to 29.860, Russia had its own troy ounce. There were others similar. There was, for example, an ounce of Maria Teresa, which was 31.1025 grams. However, in goldsmithing, the same unit was always adopted, which was used at the official level.

At one time, a whole system of weights was used related to the troy ounce

A Troy grain was 1/480 of it. Twelve of these units made up a pound. It was called troy, and should not be confused with the usual weight measure under the same name.

Some states nowadays issue coins whose weight is one troy ounce of gold, which in grams is exactly 31.1034768. An example is the one minted in the USA.

Since 1919, the so-called fixing has been carried out in London, during which it is determined how much 1 ounce of gold costs. This event occurs twice a day. Representatives of the world's five largest banking organizations get together and set the price in US dollars per ounce.

Beginning in the first half of the nineteenth century, a gold standard began to exist. Its essence boils down to the fact that each currency strictly fixes its price ratio with gold. And all international payments are thus brought to a single basis. This brings an element of stability to world economy, however, with the advent of the twentieth century and the outbreak of the First World War

This standard began to gradually become obsolete. States incurred enormous costs, and this greatly influenced the possibility of establishing a fixed price for gold. The world gradually began to divide into several economic zones, who took as a basis one or another peg of their national currency. Zones of the American dollar and gold were formed. Afterwards, the American one finally won this competition. currency unit.

Much has changed in the economy, but a troy ounce in grams is the same value - 31.1034768. It was used previously and continues to exist. When weighing gold, grams are practically not used. Oz continues a centuries-old tradition.