Troy ounce of gold in grams. What is meant by an ounce of gold?

English system has such a concept as a troy ounce. The name itself is borrowed from the title French city 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, as well as in various European cities, 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 means they real 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 the famous Seine River, in the northern part of 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 different countries peace. It was then that people first began to wonder: how much does an ounce weigh?

Merchants who purchased gold in ancient times exchanged it at special points, it was then that the 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 regarding weight measures, you can secure your business and get good profit from the purchase and sale of precious metals.

Gold reserves are one of the indicators of a country’s well-being, a symbolic guarantor of its economic and social well-being. Today, about more than 90% of the world's gold reserves are stored in the form of gold bars in special storage facilities of states. The United States, Italy, France, Germany and China have the largest reserves of monetary gold. The United States remains the undisputed leader in gold bullion reserves. However, gold today is also the property of private individuals. But who is the richest owner is not known for certain. As a version - this is one of royal families East.

Why are gold reserves needed?

The natural question is why are gold reserves so important? Why did this precious metal become the cornerstone in the emerging global economic system?

Firstly, the presence of significant gold reserves allows the state to maintain economic independence from other currencies. Secondly, gold is still one of the reliable ways investment investments. Over the last decade alone, the value of this yellow metal has increased more than 5 times. In the event of an unstable economic situation in the domestic market of the state, threatening inflation of the national currency, gold will be able to serve as a kind of monetary equivalent recognized throughout the world.

Investments in gold: profitable or not?

In 2005, Rick Munaritz, one of the co-owners of the Internet service, faced a dilemma: what is more reliable to invest his money in? search engine Google or gold. At that time, their prices on the stock exchange were the same. But in 2008, the crisis struck and trading in Google closed at $307 per share, and in gold at $866 per ounce.

To the origins of history

But what is such a strange measure - a troy ounce of gold? Why is the universal unit of weight, grams, not used when weighing gold? And what is the ratio of these two units of measurement. Troy ounce How much is it in grams? Let's try to understand the essence of this issue.

An ounce is nothing more than a twelfth of the ancient Roman bronze coin “assi”. The Romans used large bronze coins cut into pieces as money. Over time, this monetary unit began to be used as a measure of weight. It owes this to the Romans’ pedantic attitude towards coinage. There was no doubt about their compliance with coinage standards. How much does a troy ounce weigh in grams? You will learn about this later. First, a little history.

Let's make a reservation right away, ancient city Troy has nothing to do with this unit of measurement. The troy ounce owes its name to the small town of Troyes. In the twelfth century, fairs were held here, in which merchants from all over the world participated. That is why the need for a single universal measure arose. The diversity of national currencies already available at that time somewhat complicated the establishment of trade relations. Preference was given to the French livre. It consisted of a troy pound of silver, which, in turn, was divided into twelve troy ounces. Since then, the troy ounce has been gaining popularity and successfully adapted to the realities of the time. Especially for measuring the weight of expensive and valuable materials. Troy ounce - how many grams? It's time to find out about it.

How much does an ounce weigh?

How much does a troy ounce of gold weigh? In grams in Ancient Rome its weight was 27.288. After the disappearance of the Roman Empire, there was no single standard for the minting of bronze coins, and therefore the ounce somewhat lost its infallibility. Her weight in different areas began to differ noticeably. And this, in turn, became the subject of a dispute between the buyer and seller. The introduction of the metric system of units made it possible to determine how much a troy ounce of gold weighs in grams. Today one ounce weighs 31.1034768 grams.

Purity standards or how many precious metals are in valuable coins?

Today the ounce is the main measure in trading precious metals: It measures the weight of bullion or bullion coins (gold, silver, palladium and platinum) issued by central banks.

What is the current ratio "USD - troy ounce"? For example, in the USA, coins were made from gold weighing 1/10 of a troy ounce, corresponding to a denomination of 5 dollars; 25 dollars corresponded to a coin weighing ½ troy ounce, 50 dollars corresponded to a coin weighing 1 ounce. Classic option, are undeniably American Eagles - they contain one ounce of high-grade platinum.

In Russia, the weight of coins made of precious metals is indicated in grams, but the amount of precious metal is indicated in fractions of a troy ounce. The weight of the 50 ruble St. George the Victorious gold coin issued by the Bank of Russia weighs -7.89 grams, the weight of pure gold is at least 7.78 grams, which is ¼ troy ounce.

How much does an ounce cost?

What is a troy ounce? How many grams are in it? We've already dealt with this. All that remains is to find out how much an ounce costs? How is the price of gold formed? There is a reliable and time-tested practice of fixing gold. This tradition began in September 1919 in London. On September 3, 1939, due to the cessation of gold trading, the fixing procedure was discontinued. London trading resumed on March 22, 1954 and has not undergone significant changes since then. Within a minute, trading participants are ready to answer the question of whether the price of gold is rising or falling. If the number of buyers exceeds the number of sellers, the initial price of gold rises. This procedure is carried out in London at LBM auctions twice a day: at 10.30 am and three o'clock in the afternoon. It is believed that the price level for precious metals established by the London fixing is the fairest.

How much is gold today?

The dynamics of changes in the price of gold are of great interest not only to those who have chosen it as an object of investment. This is a kind of indicator of the state of the world economy. So, let's analyze how the gold rate changed over the last years. In 1996, one ounce of gold cost about $400; already in 2010-2011, the price per ounce of gold rose to $1,300. During this time interval the increase was almost 30%. According to analysts, 2015 was not so good for the precious metals market. The cost of one ounce fell from $1,000 in 2014 to $840 in 2015. And in 2016 there are quite convincing preconditions for an increase in the price of the yellow metal.

Finally

If you have finally decided to invest in physical gold, the ideal solution would be to purchase gold bars from one of the state banking institutions. If you make a transaction over the Internet, be careful. The fact is that there are two types of ounce: troy ounce and avoirdupois ounce. The substitution of concepts has already played a cruel joke on more than one entrepreneur. A troy ounce of gold is almost 9.7% heavier in grams. Good luck with your investment.

Very often a problem arises such as the need to convert ounces to ml: we're talking about about fluid ounces. Why might it be necessary to convert one quantity into another, and what are they? Is this unit of measurement still used today and where did it come from?

A fluid ounce is a unit of volume typically used to measure liquids. It is approximately equivalent to 30 milliliters. Many definitions of this unit of measurement have been used throughout history, but modern world only two remain in common use, in England and in the USA.

Volume matching

In the UK, a fluid ounce is 1/20 of a pint, or 1/160 of a gallon. If you convert this ounce into milliliters, it will be 28.4. A fluid ounce in the United States is equal to 1/16 of a pint and 1/128 of a gallon. There are many different ounces, most of which are a unit of mass measurement, the fluid ounce is different from them. Sometimes the specification of which ounce is meant is omitted, and one often finds the name simply "ounce" in relation to any of these quantities. What we are talking about usually becomes clear from the context.

Story

Initially, a fluid ounce began to be called the volume occupied by one weight ounce of a substance. In England, the volume of wine was measured in ounces, and in Scotland, water. Therefore, the volume of all ounces was different, depending on the density of the liquid. The situation was further complicated by the practice of surcharges, when in the Middle Ages a unit of measurement was not always equal to the sum of its parts.

In 1824, the British Parliament defined a gallon as the volume of 10 pounds of water. A gallon was divided into four quarts, a quart into two pints, a pint into four jills, and a jill into five ounces. Thus, 1 gallon became equal to 160 ounces. And the volume of liquid occupied by 1 ounce of avourdupois was taken as an ounce. These ratios are now valid, except that 1 gallon has been revised to equal 4.54609 liters, and accordingly 1 fluid ounce of the British Empire has become equal to 28.4130625 milliliters.

In the US, the ounce was also based on the gallon, which in turn had its origins in the wine gallon. The wine gallon was equal to 231 cubic inches and existed in England until 1824. When the international inch was adopted, the US fluid ounce changed accordingly and became equal to 29.5735295625 milliliters, which is approximately 4% larger than the United Kingdom fluid ounce.

Fluid ounce

The inscription oz is used abroad as a short designation for ounce. You can meet her if you make purchases, for example, at online auctions. Any liquid goods will be measured in ounces: eau de toilette, perfumes, aromatic oils, rare liquid spices and more. Naturally, we are talking about purchasing goods from America and Great Britain, as well as countries that are members of the Commonwealth of Nations, for example, Australia and Canada. It is worth noting that when purchasing goods from the USA, a simplified measure is used; an ounce in this case will be equal to 30 milliliters.

Converting ounces to milliliters may also be necessary when trying to use recipes for various dishes. If you come across a cookbook from the UK or Australia, you will know how to convert ounces to milliliters, for example 10 ounces will contain 300 milliliters. Liquid measuring cups are sometimes labeled with the ounce and its fractions. Very often you can find this designation of a volume measure on children's dishes, for example, feeding bottles. A standard 100 ml serving will equate to just over three ounces. This is possible because such a product is produced mainly for the whole world, but milliliters can also be seen on them at the same time.

Therefore, there should be no problem determining the number of milliliters in a fluid ounce. The main thing to remember is that there are several varieties, which can play a significant role when purchasing expensive goods. Interestingly, the United States has already introduced the metric system at the legislative level, but Americans are so accustomed to the existing one that it has not yet taken root.

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. Moreover, 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 a 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 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.

So when counting percentage and the price of gold is formed. 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.

Mass, as well as two measures of volume of liquid bodies, one unit of force and several monetary units, formed as a twelfth of another unit. The term also comes from ancient Rome, where an ounce denoted a twelfth of a libra. Was one of the main weight units medieval Europe. Today it is used when trading precious metals - troy ounce, as well as in countries where weight is measured in pounds (for example, the USA).

Ancient Rome

Among the ancient Romans, 1/12 of a unit of weight was called libra (lat. libra) or ass and weighed 327.45 g (0.7996 Russian pounds or 76 spools 73 shares), and corresponded to 28.34 g (0.0666 Russian pounds or 6.394 spools). In turn, the ounce was divided into 2 semuntia, 4 sicilicus, 6 sextuli, 24 scrupules and 144 siliqua. The ounce was designated by a dot ( · ) or (on coins) in the form of a small convex hemisphere, sometimes with a horizontal line ( - ), and also (in cursive) with the signs and; ½ ounce (semuntia) was designated by the signs Σ , Є , £ , Sicilian - Ɔ , sextools - 𐆓 , scrupula - ℈ . The Romans used this system of duodecimal division of units for various purposes: for example, the ounce and its multiple designations were defined:

• size of inheritance
• measures of length (ounce = 1/12 Roman foot = 0.0246 m = 9685 lines)
• surface measures (ounce = 1/12 yugra = 2400 Roman square feet = 46 square fathoms, 6 square feet, 72 square inches = 209.91 m²)
• capacity measures (ounce = cyatou = 1/12 sextary = 0.0372 cups)
• banknotes (ounce = 1/12 asses) - while asses were more often used in circulation, containing instead of twelve an average of 10 ounces (from 11 to 9) - 272.88 g = 0.666 Russian pounds. As currency, ounces were minted from copper, with an admixture of 7% tin and 23.6% lead; on one side the head of Minerva (or the goddess of Rome) was depicted, on the other - the coat of arms of the city.

Uncial division was used by the Romans in fractional calculations. Just like in decimals The first place after the decimal point is occupied by tenths, the second by hundredths, and so on; among the Romans, fractions were expressed in series of quantities in which the denominator was a multiple of 12, with the first place being occupied by ounces, the second by semuntia, and so on.

Use of the ounce before the introduction of the metric system of measures

The ounce was borrowed from the Romans by almost everyone European peoples and before the introduction of the metric system of measures, it was the most common unit of weight in the world. In Germany, an ounce was equal to 1/16 of a large trade pound (= 1/8 of a mark) and 1/12 of a small pharmaceutical weight, only replaced in 1872 metric system. From Germany, an ounce appeared in Russian pharmacies. In Italy it was equal to 1/12 of a pound, in Spain and Portugal = 1/16 of a trade (avoirdupois) pound. An ounce was also called in Sicily (until 1865) a monetary unit equal to 2½