August 19, 2014

Weighing Gold

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Weighing Gold

So how do all these terms affect you as a gold seller or a gold buyer? What will your gold buyer tell you and why?

 A troy ounce is heavier than a regular ounce. Troy weights are used to weigh all precious metals.

A Troy ounce = 31.1 grams and a regular ounce = 28.3 grams.

The following list breaks it all down for youweighing gold

  • 1 Troy ounce = 31.1 grams
  • 1 Troy ounce = 20 pennyweight (or dwt)
  • 1 pennyweight = 1.55 grams
  • 1 gram = 0.645 pennyweight
  • 1 pennyweight = 24 grains
  • 480 grains = 1 Troy ounce

All of the terms above may be mentioned when you’re talking about gold. The most common, however, are grams and pennyweight. You will want to be clear for yourself what the gold buyer is talking about when you’re discussing the weight of your items, and what you will be paid. All reputable gold buyers should be willing and able to give you a price per gram or pennyweight over the phone or via e-mail.  Again one of the best things to do is tell the buyer the purity of your item (10k, 14k or 18k) and give them an example weight (10 grams is usually really good) and ask them how many dollars you will get for that, and simply call around until you get the best price!

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I started Goldbay in 1999 as a response to man-made or fake gold nuggets being auctioned on Ebay. I wanted a site that could control the authenticity of products and connect gold nugget buyers with a reputable source

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