Troy Ounces
Abbreviation/Symbol:
oz t
t oz
Worldwide use:
Troy ounces are a unit of measurement commonly used in the field of precious metals, such as gold, silver, and platinum. Unlike the more widely known avoirdupois ounce, which is used for everyday items like food and household goods, the troy ounce is specifically designed for measuring the weight of precious metals. The use of troy ounces is prevalent worldwide, particularly in the jewelry and bullion industries. This unit of measurement is recognized and accepted by international markets, making it a standard for trading and pricing precious metals. It is commonly used in countries such as the United States, Canada, the United Kingdom, and Australia, among others.
Definition:
The Troy ounce is slightly heavier than the more commonly used avoirdupois ounce, with one Troy ounce equal to approximately 31.1035 grams. The Troy ounce is a sub unit of the Troy pound and divided into smaller units such as the Troy grain, and Troy pennyweight. One Troy pound is equivalent to 12 Troy ounces, while one Troy grain is equal to 1/480th of a Troy ounce. The Troy pennyweight, on the other hand, is equal to 1/20th of a Troy ounce. These smaller units are often used in the jewelry industry for more precise measurements involved in the buying, selling, or trading of precious metals.
Origin:
The origin of Troy ounces can be traced back to ancient times, specifically to the city of Troy in Asia Minor. Troy ounces were used as a unit of weight in the trading of precious metals, such as gold and silver. The name "Troy" is believed to have been derived from the ancient Greek city of Troy, which was renowned for its wealth and trade. The use of Troy ounces as a measurement for precious metals spread throughout the Mediterranean region and eventually became widely adopted in Europe. The Troy ounce differs from the more commonly used avoirdupois ounce, which is used for measuring everyday items.
Usage context:
Troy ounces are a unit of measurement commonly used in the context of precious metals, particularly gold and silver. Unlike the more commonly known avoirdupois ounce, which is used for everyday items like food and household goods, the troy ounce is specifically used in the precious metals industry.