Troy Ounces Converter
Convert between troy ounces and grams for precious metals like gold and silver. Enter values for instant results with step-by-step formulas.
Formula
Grams = Troy Ounces x 31.1035
Where 1 troy ounce equals exactly 31.1034768 grams. A troy ounce is 9.7% heavier than a standard (avoirdupois) ounce of 28.3495 grams. For precious metals pricing: Value = Troy Ounces x Spot Price per Troy Ounce.
Worked Examples
Example 1: Gold Investment Value Calculation
Problem: Calculate the value of 5 troy ounces of gold at a spot price of $2,350 per troy ounce. Also convert to grams and avoirdupois ounces.
Solution: Weight in grams = 5 x 31.1035 = 155.52 g\nWeight in avoirdupois oz = 5 x 1.09714 = 5.49 oz\nWeight in pounds = 5.49 / 16 = 0.343 lb\nGold value = 5 x $2,350 = $11,750\nPennyweights = 5 x 20 = 100 dwt\nGrains = 5 x 480 = 2,400 grains
Result: 5 troy oz = 155.52 g = 5.49 avoirdupois oz | Value: $11,750
Example 2: Scrap Gold Weight Conversion
Problem: A jeweler has 85 grams of 14-karat scrap gold. Convert to troy ounces and calculate melt value at $2,350/oz.
Solution: Troy ounces = 85 / 31.1035 = 2.733 troy oz\nPure gold content (14K) = 2.733 x (14/24) = 1.594 troy oz\nMelt value = 1.594 x $2,350 = $3,746\nPennyweights total = 2.733 x 20 = 54.66 dwt\nPure gold pennyweights = 54.66 x 0.583 = 31.87 dwt
Result: 85 g = 2.733 troy oz total | 1.594 troy oz pure gold = $3,746 melt value
Frequently Asked Questions
What is a troy ounce and how does it differ from a regular ounce?
A troy ounce is a unit of weight measurement used exclusively for precious metals such as gold, silver, platinum, and palladium. One troy ounce weighs exactly 31.1034768 grams, which is approximately 9.7 percent heavier than a standard avoirdupois ounce of 28.3495 grams. The troy system originated in the Middle Ages from the French trading city of Troyes, which hosted major international trade fairs. When gold is priced at a certain amount per ounce, it always refers to the troy ounce, not the standard ounce. This distinction is critically important because confusing the two units when buying or selling precious metals results in roughly a 10 percent pricing error that could mean thousands of dollars on large transactions.
Why are precious metals measured in troy ounces instead of regular ounces?
The use of troy ounces for precious metals is a historical convention dating back to medieval European trade that has persisted because of standardization and industry practice. The troy weight system was already established for precious metals trading at the Troyes fairs in France by the 12th century, and it was formally adopted into English law by Henry VIII in 1527. The troy system provides finer divisions that are useful for precious metals: one troy ounce contains 20 pennyweights, and one pennyweight contains 24 grains, giving exactly 480 grains per troy ounce. This system was embedded into international trade, banking, and commodity markets so deeply that changing to metric or avoirdupois would cause massive confusion. All major precious metals exchanges worldwide including COMEX, LBMA, and the Shanghai Gold Exchange quote prices per troy ounce.
How do I convert between troy ounces and grams for gold?
To convert troy ounces to grams, multiply by 31.1035. To convert grams to troy ounces, divide by 31.1035. For example, a standard 1 troy ounce gold coin like the American Gold Eagle weighs exactly 31.1035 grams. A 10-gram gold bar equals 0.3215 troy ounces. A 1-kilogram gold bar contains 32.1507 troy ounces. To calculate the value of gold in grams, divide the per-troy-ounce price by 31.1035. If gold costs $2,350 per troy ounce, the price per gram is $75.56. These conversions are essential when comparing gold products sold in different units or when purchasing gold in countries that price by the gram rather than the troy ounce.
What is a pennyweight and how does it relate to troy ounces?
A pennyweight, abbreviated dwt, is a traditional unit of weight in the troy system equal to one-twentieth of a troy ounce, or approximately 1.5552 grams. The name comes from the weight of a medieval English silver penny. Pennyweights are commonly used in the jewelry industry in the United States for pricing and weighing gold jewelry, dental gold, and scrap precious metals. When a jeweler or gold buyer quotes a price per pennyweight, multiply by 20 to get the equivalent price per troy ounce for comparison with spot prices. For example, if a gold buyer offers $100 per pennyweight, that equals $2,000 per troy ounce. Jewelers also use the grain, where 24 grains equal one pennyweight and 480 grains equal one troy ounce.
How do international gold markets use troy ounces?
Major international gold markets universally use the troy ounce as their standard unit of trade, though some regional markets also quote in grams or kilograms. The London Bullion Market Association (LBMA) sets the global gold price benchmark twice daily in US dollars per troy ounce. The COMEX division of the New York Mercantile Exchange trades gold futures contracts based on 100 troy ounces per contract. The London Good Delivery bar, the standard for international settlement, weighs approximately 400 troy ounces (12.4 kg). The Shanghai Gold Exchange quotes prices in Chinese yuan per gram but converts to troy ounce equivalents for international comparison. Indian gold markets often price in rupees per 10 grams. Despite these regional variations, the troy ounce remains the universal reference point for comparing gold prices worldwide.
How does the troy system affect gold jewelry pricing?
Gold jewelry pricing involves troy weight but adds complexity because jewelry is rarely pure gold. The karat system indicates purity: 24 karat is pure gold, 18 karat is 75 percent gold, 14 karat is 58.3 percent gold, and 10 karat is 41.7 percent gold. To calculate the gold content value of a piece of jewelry, first weigh it in troy ounces or grams, then multiply by the karat purity fraction, then multiply by the current spot gold price. For example, a 14-karat necklace weighing 1 troy ounce contains 0.583 troy ounces of pure gold. At $2,350 per troy ounce, the gold content value is approximately $1,370. The retail price of jewelry typically exceeds the gold value by two to five times due to design, craftsmanship, brand markup, and retail overhead.