Troy ounce: how much is grams
To date, to measure weightnoble and precious metals there are several different systems. We are used to using grams. And on the stock exchanges and abroad, a troy ounce is often used. This weight system is, perhaps, the oldest and at the same time accurate. What it is, how it differs from the usual and how to translate it into the familiar grammes - this is exactly what this article will discuss.
Troy Ounce: History of Origin
In the old days the means of delivery of cargo and movementwere very primitive, and therefore there was no sense in dealing with the delivery of goods on order. In addition, at that time there was no modern advertising technology. Instead, in medieval Europe, there were fair centers, which from different places were brought all kinds of goods. It was here at a certain time of the year that merchants from different parts of Europe got acquainted with the novelties, bought the necessary and sold the goods brought with them.
Since 1150 the most popularEuropean fairs were those that were held in the province of Champagne (France). Its center was Troyes, whose name is consonant with the ancient Greek city of Troy, although there was nothing in common between them. Once upon a time, back in the time of the Roman Empire, a tribe of tricassi lived here, and it is from its name that the name of Troyes originates. In the 13th century, the richest and most famous fairs operated here, and therefore their organizers strictly controlled the trade in order to avoid the deceptions of visiting merchants. In particular, they ensured that the system of measuring and weighing goods was correct and fair. So there was a troy ounce. Now it is often used in the US and the UK to measure the weight of precious metals, drugs and cosmetics.
Troy ounce in the system of weights and measures
This unit corresponds to one twelfththe gold coin pound of England. One troy ounce of gold in grams corresponds to 31.1034768. This unit is designated as: TR.OZ. or ozt. It should not be confused with the "usual" ounce (denoted as oz or uncia), which is 28.349523125 g. It is easy to see that the latter is about 9% lighter. The troy ounce is part of the so-called troika system, in addition to which there are such units of weight as the troy grin, equal to 64.79891 mg (1/480 TR.OZ.), and the troy pound, which is 373.2417216 grams (12 TR.OZ .). As for the latter, it is rarely used. It has one more name - the gold-coin English pound, and it differs in size from the "standard" pound, equal to 453,59237 g. But the troy grana is used much more often, mainly in medicine and trade, because of what it is also called commercial or apothecary grain. If you do not have a calculator at your fingertips, you can use the online calculator to transfer the units of the troy system to the "usual" calculator, and if you have to do this often, install the corresponding application on your phone.
Troy Ounce of Gold in Modern Trade
When making bank settlements withUsing this unit, its value is rounded to 1/1000. Thus, in practice, the value 31,103 grams is used (sometimes 31,1035). On the stock exchange this measure of gold is designated as XAU, palladium - XPD, silver - XAG and platinum - XPT.