Troy Ounce to Carat Converter
Convert troy ounces to carats with our free online weight converter.
Quick Answer
1 Troy Ounce = 155.517384 carats
Formula: Troy Ounce × conversion factor = Carat
Use the calculator below for instant, accurate conversions.
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Troy Ounce to Carat Calculator
How to Use the Troy Ounce to Carat Calculator:
- Enter the value you want to convert in the 'From' field (Troy Ounce).
- The converted value in Carat will appear automatically in the 'To' field.
- Use the dropdown menus to select different units within the Weight category.
- Click the swap button (⇌) to reverse the conversion direction.
How to Convert Troy Ounce to Carat: Step-by-Step Guide
Converting Troy Ounce to Carat involves multiplying the value by a specific conversion factor, as shown in the formula below.
Formula:
1 Troy Ounce = 155.517 caratsExample Calculation:
Convert 5 troy ounces: 5 × 155.517 = 777.585 carats
Disclaimer: For Reference Only
These conversion results are provided for informational purposes only. While we strive for accuracy, we make no guarantees regarding the precision of these results, especially for conversions involving extremely large or small numbers which may be subject to the inherent limitations of standard computer floating-point arithmetic.
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View all Weight conversions →What is a Troy Ounce and a Carat?
1 troy ounce = 31.1034768 grams (g) = 480 grains
The troy ounce (abbreviated "oz t", "ozt", or "t oz") is a unit of mass in the troy weight system, used exclusively for precious metals and gemstones. It differs significantly from the avoirdupois ounce used in everyday measurements.
Troy vs. Avoirdupois: Critical Distinction
| Unit | Grams | Use Cases | |----------|-----------|---------------| | Troy ounce | 31.1034768 g | Precious metals (gold, silver, platinum), gemstones, pharmaceuticals (historic) | | Avoirdupois ounce | 28.349523125 g | Food, body weight, general commerce | | Difference | +2.754 g (9.7% heavier) | Troy ounce is HEAVIER |
Critical for buyers: If someone sells you "1 ounce of gold" using avoirdupois ounces instead of troy ounces, you're getting 9.7% less metal than you paid for!
The Troy Weight System
Unlike the avoirdupois system (16 ounces = 1 pound), the troy system uses different ratios:
- 24 grains = 1 pennyweight (dwt)
- 20 pennyweights = 1 troy ounce (oz t)
- 12 troy ounces = 1 troy pound (lb t)
Paradox: The troy ounce is heavier than the avoirdupois ounce, BUT the troy pound (373.24 g) is lighter than the avoirdupois pound (453.59 g) because it contains only 12 ounces instead of 16!
Why Troy Ounces Persist
Despite global metrication, troy ounces remain dominant in precious metals for these reasons:
- Market convention: Centuries of gold/silver trading established price benchmarks in troy ounces
- Legal tender: U.S. Mint, Royal Canadian Mint, and others mint official coins in troy ounce denominations
- Futures contracts: COMEX gold contracts specify 100 troy ounces per contract
- LBMA standards: London Bullion Market Association requires troy ounce quotations
- Central banks: Gold reserves reported in troy ounces (e.g., Fort Knox holds 147.3 million oz t)
A carat (symbol: ct) is a unit of mass used exclusively for measuring gemstones and pearls, defined as:
1 carat = 200 milligrams (mg) = 0.2 grams (g)
Carat vs. Karat: Critical Distinction
Carat (ct) = Gemstone weight
- Measures mass of diamonds, rubies, sapphires, emeralds, pearls, etc.
- 1 ct = 200 mg
Karat (K or kt) = Gold purity
- Measures proportion of pure gold in an alloy
- 24K = 100% pure gold
- 18K = 75% gold (18/24)
- 14K = 58.3% gold (14/24)
Spelling/Pronunciation:
- United States: "Carat" (gemstones), "Karat" (gold) - different spellings
- UK/Commonwealth: Often "carat" for both, distinguished by context (ct vs. K)
- Pronunciation: Both pronounced identically ("CARE-ut")
Example: An 18-karat gold ring set with a 2-carat diamond contains gold that is 75% pure and a diamond weighing 400 mg.
Points: The Carat Subdivision
In the gem trade, carats are divided into 100 points:
- 1 carat = 100 points
- 0.01 carat = 1 point
Trade Terminology:
- "50-pointer" = 0.50 carat (50 points)
- "Three-quarter carat" = 0.75 ct (75 points)
- "10-point diamond" = 0.10 ct
Points allow precise specification of smaller gemstones and enable pricing granularity.
Note: The Troy Ounce is part of the imperial/US customary system, primarily used in the US, UK, and Canada for everyday measurements. The Carat belongs to the imperial/US customary system.
History of the Troy Ounce and Carat
Ancient and Medieval Origins (Pre-1500)
The word "ounce" derives from the Latin "uncia" (one-twelfth), reflecting the Roman system where 1 uncia = 1/12 of a libra (pound). The troy system's specific origins trace to Troyes, France, a major European trade city.
12th-15th centuries - Champagne Fairs: Troyes hosted international trade fairs where merchants from Italy, Flanders, England, and German states exchanged goods. Precious metals, spices, and textiles required standardized weights. The "Troyes weight" system emerged as a trusted standard for valuable commodities, particularly gold, silver, and gemstones.
Why "troy" not "avoirdupois"? Two parallel weight systems developed:
- Troy weights: For precious metals, spices, medicines (high-value, small quantities)
- Avoirdupois weights: For bulk goods like wool, grain, iron (from French "avoir de pois" = goods of weight)
English Standardization (1500-1800)
1527 - King Henry VIII standardization: Henry VIII officially defined troy weights for the English realm, establishing:
- 1 troy pound = 5,760 grains
- 1 troy ounce = 480 grains
- 1 grain = 64.79891 milligrams (based on barley grain weight)
1758 - British assay offices: The Goldsmiths' Company and assay offices in London, Birmingham, Sheffield, and Edinburgh used troy ounces exclusively for hallmarking gold and silver items. This reinforced troy ounces as the legal standard for precious metals in British commerce.
The Tower Pound obsolescence: England previously used the "Tower pound" for minting coins (5,400 grains), but troy weights (5,760 grains per pound) eventually replaced it in 1527, creating unified standards for bullion and coinage.
American Adoption (1776-1900)
1776-1792 - Early United States: American colonies inherited British troy standards. The early U.S. used Spanish silver dollars and British gold sovereigns, all measured in troy ounces.
1828 - U.S. Coinage Act: Congress officially adopted troy weights for all U.S. coinage. The Act specified:
- Gold dollar = 25.8 grains (1.672 g) of 90% gold
- Silver dollar = 412.5 grains (26.73 g) of 90% silver
- All coins measured in troy grains
1849-1855 - California Gold Rush: The discovery of gold at Sutter's Mill created massive demand for standardized weights. Assay offices in San Francisco weighed gold dust and nuggets in troy ounces, establishing the unit in the American West.
1873 - Coinage Act ("Crime of 1873"): This act demonetized silver, ending bimetallism. However, troy ounces remained the standard for measuring both gold and silver bullion.
Global Standardization (1900-Present)
1900-1971 - The Gold Standard era: Most nations tied currencies to gold reserves, measured in troy ounces:
- 1900: Gold Standard Act (U.S. fixed $20.67 per troy ounce)
- 1933: FDR revalued gold to $35 per troy ounce
- 1944: Bretton Woods Agreement ($35/oz t peg)
- 1971: Nixon ended gold convertibility, but troy ounce pricing persisted
1919 - London Bullion Market Association (LBMA): Founded to standardize London gold market practices. LBMA established:
- Good Delivery bars: 350-430 troy ounces (typically 400 oz t)
- Minimum purity: 995 parts per 1,000 (99.5% pure gold)
- Troy ounce quotations for spot prices
1974 - COMEX gold futures: The Commodity Exchange (COMEX) in New York launched gold futures contracts:
- Contract size: 100 troy ounces
- Delivery specifications: 1 kg bars (32.1507 oz t) or 100 oz bars
- Global price discovery mechanism
1975 - Gold ownership legalization: U.S. citizens regained the right to own gold bullion (banned since 1933). Investment coins like the Krugerrand (1 oz t), Canadian Maple Leaf (1 oz t), and American Gold Eagle (1 oz t) popularized troy ounce denominations for retail investors.
2000s-Present - Digital age: Despite metrication, troy ounces dominate:
- ETFs: SPDR Gold Shares (GLD) holds 900+ tons (28.9M oz t)
- Central banks: Reserve holdings reported in troy ounces (U.S. 261.5M oz t, Germany 108.9M oz t)
- Spot prices: Bloomberg, Reuters, Kitco quote gold/silver per troy ounce
- Refineries: Swiss refiners (PAMP, Valcambi) produce bars in troy ounce sizes
Cultural Significance
The troy ounce represents continuity in global finance—a medieval trade standard that survived the industrial revolution, world wars, and digital transformation. While most historical units vanished with metrication, the troy ounce persists because precious metals markets value tradition, legal precedent, and universal standardization over decimal convenience.
of the Carat
Ancient Origins: Carob Seeds (c. 3000 BCE - 500 CE)
The Carob Tree:
- Carob tree (Ceratonia siliqua): Native to Mediterranean region
- Produces seed pods containing small, hard seeds
- Ancient belief: Carob seeds had remarkably uniform weight (~200 mg)
Early Use as Weights:
- Ancient Greece: Used carob seeds ("keration") as counterweights on balance scales
- Roman Empire: Adopted Greek practice for weighing gems, gold, medicines
- Middle East & India: Arab and Indian merchants used carob or similar seeds
- Reason: Small, portable, abundant, believed to be consistent
Reality Check: Modern analysis shows carob seeds actually vary by 10-20% in weight (180-220 mg), so ancient measurements weren't as precise as believed. However, the average (~200 mg) remarkably matches the modern standard.
Medieval to Early Modern Period (500-1800 CE)
Divergent Regional Standards: As gem trade expanded across Europe, Middle East, and Asia, different regions developed local carat standards:
European Carats:
- Florence (Italy): ~197 mg
- Amsterdam (Netherlands): ~205.3 mg
- Paris (France): ~205 mg
- London (UK): ~205.3 mg
- Venice (Italy): ~207 mg
Ottoman Empire:
- Constantinople carat: ~200-205 mg (varied over time)
India:
- Mangelin (Madras): ~193 mg
- Rati: Ancient Indian unit (~188 mg), still used traditionally for pearls
Problems:
- International gem trade faced confusion: "Is this a Florence carat or Amsterdam carat?"
- Disputes over weight and pricing
- Fraudulent practices exploiting different standards
The Diamond Revolution (1800s)
South African Diamond Discoveries (1867-1870s):
- Discovery of diamonds at Kimberley, South Africa
- Massive increase in diamond supply
- Rise of industrial diamond mining
- Expansion of international diamond trade
De Beers Consolidation:
- Cecil Rhodes founded De Beers Mining Company (1888)
- Consolidated South African diamond production
- Established control over global diamond supply
- Created need for international weight standard
Growing Trade Complexity:
- Diamonds moved from South Africa → London → Antwerp → New York → global markets
- Multiple carat standards caused pricing inconsistencies
- Insurers, traders, cutters demanded standardization
International Standardization (1907-1914)
Fourth General Conference on Weights and Measures (1907):
- Convened in Paris to expand metric system
- International gem trade representatives advocated for uniform carat
- Proposal: Define carat as exactly 200 milligrams
- Rationale: Close to existing averages, clean metric value
Advantages of 200 mg:
- Simple metric conversion: 5 carats = 1 gram
- Close to historical average: Most European carats were 197-207 mg
- No major disruption: Minimal adjustment for major markets
- Decimal-friendly: Easy calculation and subdivision
Global Adoption:
- 1907: Metric carat adopted at CGPM Paris
- 1913: United States codified 200 mg carat in federal law
- 1914: Antwerp (Belgium), London (UK), New York officially adopted
- 1920s-1930s: Remaining gem centers transitioned
- By 1950s: Universal acceptance worldwide
The Modern Diamond Industry (1930s-Present)
The "Four Cs" Framework (1940s):
- Gemological Institute of America (GIA) established 1931
- Robert M. Shipley (GIA founder) popularized diamond grading
- 1940s: GIA codified the "Four Cs" of diamond quality:
- Carat (weight)
- Cut (proportions, symmetry, polish)
- Color (D-to-Z scale, D = colorless)
- Clarity (internal inclusions, external blemishes)
Carat as Primary Value Driver:
- Of the Four Cs, carat weight is most objective (precise scale measurement)
- Cut, color, clarity require expert judgment
- Carat directly determines size (larger diamonds rarer, more valuable)
- Price per carat increases exponentially with weight
Diamond Certification:
- GIA, International Gemological Institute (IGI), and others issue certificates
- Certificates specify carat weight to 0.01 ct precision
- Example: "1.27 carats" (127 points), measured to ±0.005 ct accuracy
Electronic Precision Scales:
- Modern gem scales measure to 0.001 carat (0.2 mg precision)
- Temperature-controlled environments ensure accuracy
- Calibrated against reference standards traceable to SI kilogram
Contemporary Developments (1990s-Present)
Synthetic Diamonds:
- Lab-grown diamonds (HPHT, CVD methods) entered market
- Sold by carat, like natural diamonds
- Price typically 30-70% less than natural for same carat weight
Online Diamond Trade:
- Internet sellers (Blue Nile, James Allen, etc.) list specifications including exact carat weight
- Photos, videos, 360° views help buyers assess size
- Carat weight filtering standard on all sites
Famous Large Diamonds:
- Modern discoveries and sales emphasize carat weight as headline figure
- "Largest diamond found in 100 years: 1,109 carats!"
Common Uses and Applications: troy ounces vs carats
Explore the typical applications for both Troy Ounce (imperial/US) and Carat (imperial/US) to understand their common contexts.
Common Uses for troy ounces
1. Precious Metals Trading
The troy ounce is the universal standard for global bullion markets:
Spot price quotations:
- Gold: $1,800-2,100 per troy ounce (fluctuates with markets)
- Silver: $20-30 per oz t
- Platinum: $900-1,200 per oz t
- Palladium: $1,000-1,600 per oz t
- Rhodium: $3,000-15,000 per oz t (highest volatility)
Major markets:
- London Bullion Market (LBMA): Sets gold/silver fix twice daily in troy ounces
- COMEX (New York): Futures contracts (100 oz t gold, 5,000 oz t silver)
- Shanghai Gold Exchange: Trades gold in grams but converts to oz t for international quotes
- Dubai Gold Souk: Retail sales in grams, wholesale in troy ounces
Why troy ounces persist: Centuries of price history, legal contracts, and central bank reserves create network effects—changing to grams would require recalibrating trillions in financial instruments.
2. Investment Coins & Bars
Government minted coins (1 oz troy):
- American Gold Eagle: Most popular U.S. bullion coin, 22K gold
- Canadian Maple Leaf: 24K gold (.9999 fine), iconic design
- South African Krugerrand: First modern bullion coin (1967)
- Austrian Philharmonic: European alternative, euro-denominated
- Chinese Gold Panda: Annual design changes, collector value
Fractional coins:
- 1/2 oz, 1/4 oz, 1/10 oz troy ounce denominations
- Higher premiums per ounce (manufacturing costs)
- Easier to liquidate small amounts
Private mint bars:
- 1 oz, 10 oz, 100 oz troy ounce sizes (silver)
- 1 oz, 10 oz, 1 kg gold bars
- Lower premiums than coins (no numismatic value)
- Stackability for storage
3. Jewelry Manufacturing
Jewelers purchase gold in troy ounces but often work in grams or pennyweights (dwt):
Pricing structure:
- Spot price: Current troy ounce price (e.g., $2,000/oz)
- Karat adjustment: 14K = 58.3%, 18K = 75%, 22K = 91.67%
- Fabrication cost: Labor, design, gemstones
- Retail markup: 2-3× material cost
Example calculation (14K ring):
- Weight: 5 grams = 0.16075 oz t
- Pure gold: 0.16075 × 0.583 = 0.0938 oz t
- Gold value: 0.0938 × $2,000 = $187.60
- Retail price: $500-800 (includes labor, overhead, profit)
Scrap gold recycling: Jewelers sell scrap in troy ounces to refineries, receiving 90-95% of spot price (refining losses, processing fees).
4. Pharmaceutical & Apothecary (Historic)
Before metrication, pharmacists used troy weights for compounding:
Apothecaries' system:
- 20 grains = 1 scruple
- 3 scruples = 1 dram
- 8 drams = 1 troy ounce
Modern legacy:
- Grain measurements persist (aspirin: 5 grains = 325 mg)
- Troy ounces phased out in medicine by 1970s
- Replaced by milligrams and grams for precision
5. Mining & Geology
Gold production and ore grades measured in troy ounces:
Reserve reporting:
- Gold deposits: "10 million oz t at 2 g/t grade" (metric tons ore, troy ounces gold)
- Production rates: "500,000 oz t per year" (annual mine output)
Ore grades:
- High-grade: 10-20 g/t (0.32-0.64 oz t per metric ton ore)
- Low-grade: 1-5 g/t (0.032-0.16 oz t/t)
- Ultra-low-grade: 0.5 g/t (economical with modern extraction)
Example (Nevada Gold Mine):
- Reserves: 50 million metric tons
- Grade: 2 g/t (0.064 oz t/t)
- Contained gold: 3.2 million troy ounces
- Mine life: 15 years (213,000 oz t/year production)
6. Central Banking & Reserves
Countries hold gold reserves measured in troy ounces:
Reserve valuation: Most central banks value gold at historic cost ($42.22/oz t, a 1973 price), not market rates. However, market value uses current spot prices:
- U.S. reserves: 261.5M oz t × $2,000 = $523 billion market value
- Official books: 261.5M oz t × $42.22 = $11 billion (!)
Reserve diversification:
- Gold as % of reserves: U.S. (70%), Germany (67%), Italy (64%)
- Rationale: Inflation hedge, currency crisis protection, geopolitical insurance
7. Collectibles & Numismatics
Coin collectors distinguish between bullion value (troy ounces) and numismatic value (rarity, condition):
Example: 1933 Double Eagle
- Gold content: 0.9675 oz t (~$1,935 melt value)
- Auction price: $18.9 million (2021 Sotheby's)
- Numismatic premium: 9,700× bullion value!
Modern bullion vs. collectible:
- Bullion: Trades at spot + 3-10% premium (1 oz Gold Eagle)
- Collectible: Rare dates, low mintages command 2-100× premiums
When to Use carats
of the Carat in Modern Contexts
1. Jewelry Retail and E-Commerce
Every jewelry store and online retailer specifies carat weight:
- Product listings: "1.5 ct Diamond Solitaire Ring"
- Filters: Search by carat range (0.5-0.75 ct, 0.75-1.0 ct, etc.)
- Pricing: Often listed as "price per carat"
- Certification: GIA, IGI certificates state precise carat weight
Example Product Description:
"18K White Gold Engagement Ring featuring a 1.27 ct Round Brilliant Cut Diamond (G color, VS2 clarity, Excellent cut) with 0.25 ct total weight of side stones."
2. Gemological Laboratories
Institutions like GIA, IGI, AGS (American Gem Society) issue certificates:
- Carat weight: Measured to 0.01 ct precision
- Measurement: Length, width, depth in millimeters
- Report number: Unique identifier
- Laser inscription: Microscopic certificate number on diamond girdle
Certificate ensures:
- Buyer knows exact weight
- Seller can't misrepresent size
- International trade transparency
3. Auction Houses and High-Value Sales
Christie's, Sotheby's, and other auction houses emphasize carat weight:
- Lot descriptions: "Lot 345: 10.12 ct Fancy Vivid Blue Diamond Ring"
- Estimates: "$2-3 million" (often $200,000-$500,000 per carat for rare colors)
- Hammer prices: Record sales widely reported by carat
Recent Record Sales:
- Pink Star (59.60 ct): $71.2 million (2017) = $1.195 million/ct
- Oppenheimer Blue (14.62 ct): $57.5 million (2016) = $3.93 million/ct
4. Mining and Rough Diamond Trade
Diamond mines report production in carats:
- Botswana (Debswana mines): ~23 million carats annually
- Russia (Alrosa): ~28 million carats annually
- Canada (Diavik, Ekati): ~6 million carats annually
Rough Diamond Pricing:
- Sold by carat at rough diamond exchanges (Antwerp, Dubai, Mumbai)
- Average rough prices: $50-$150 per carat (varies by quality)
- High-quality rough: $300-$500+ per carat
5. Customs and Import/Export
International gem trade requires carat weight declarations:
- Harmonized System (HS) codes: Classify gems by type and weight
- Import duties: Often based on declared carat weight and value
- Kimberley Process Certification: Anti-conflict diamond scheme specifies carat weight
Example: Importing 1,000 ct of rough diamonds into EU requires documentation with precise weight.
6. Insurance and Appraisals
Jewelry insurance policies specify carat weight:
- Appraisal: "1.52 ct center stone, 0.40 ct total side stones"
- Replacement value: Based on carat × price-per-carat for quality
- Loss claims: Carat weight determines payout
Example Policy: "Insured item: Platinum ring with 2.03 ct diamond (H color, VS1). Replacement value: $18,000. Annual premium: $180 (1% of value)."
7. Consumer Education and Marketing
Jewelry retailers educate customers using the Four Cs:
- In-store displays: Charts showing carat sizes
- Online tools: Interactive "build your ring" showing carat options with price updates
- Marketing: "50% larger diamond for only 30% more!" (e.g., 0.75 ct vs. 0.50 ct)
De Beers "A Diamond is Forever" Campaign:
- Emphasized carat size as symbol of commitment
- "Two months' salary" guideline (now ~one month average)
Additional Unit Information
About Troy Ounce (oz t)
1. Is a troy ounce the same as a regular ounce?
No. The troy ounce (31.1035 g) is about 9.7% heavier than the avoirdupois ounce (28.3495 g) used for food and general items.
Visual comparison:
- 1 troy ounce gold = Size of a large grape (but very dense)
- 1 avoirdupois ounce flour = Same volume but less mass
When it matters: Precious metals (gold, silver, platinum) always use troy ounces. If someone offers you "1 ounce of gold" at a suspiciously low price, verify it's troy ounces—not avoirdupois!
2. How many grams are in a troy ounce?
Exactly 31.1034768 grams.
This precise definition comes from the 1959 international agreement on units. It's the same globally—LBMA (London), COMEX (New York), and Shanghai Gold Exchange all use this exact conversion.
For practical purposes:
- 1 troy oz ≈ 31.1 grams (rounded)
- 10 troy oz ≈ 311 grams
- 32.15 troy oz = 1 kilogram (exactly 1,000 g)
3. How many troy ounces are in a troy pound?
12 troy ounces = 1 troy pound (373.24 grams).
This differs from the avoirdupois system where 16 ounces = 1 pound. The troy system uses base-12 (duodecimal), a remnant of Roman and medieval counting systems.
Paradox explained:
- Troy ounce (31.10 g) > Avoirdupois ounce (28.35 g)
- BUT Troy pound (373.24 g) < Avoirdupois pound (453.59 g)
Why: 12 × 31.10 = 373.24, while 16 × 28.35 = 453.59.
4. Why do precious metals use troy ounces instead of grams?
Historical inertia and market convention.
Reasons troy ounces persist:
-
Centuries of price data: Gold has been priced per troy ounce since the 1700s. Changing would break historical charts and analysis.
-
Legal tender and contracts: U.S. Mint, Canadian Mint, and others legally define coins in troy ounces. Futures contracts, options, and derivatives are denominated in oz t.
-
Central bank reserves: Fort Knox holds "147.3 million troy ounces," not "4,582.7 metric tons"—the legal records use troy ounces.
-
Network effects: If London uses oz t, New York must too. Shanghai converts grams to oz t for international quotes.
-
Cultural identity: "An ounce of gold" evokes tangibility. "31.1 grams of gold" lacks the same resonance.
Metrication attempts failed: France and other metric-first countries tried quoting gold in grams, but international traders kept converting back to oz t for comparison.
5. How much is 1 troy ounce of gold worth?
It fluctuates constantly. As of 2024, gold trades between $1,800 - $2,100 per troy ounce, depending on economic conditions.
Price drivers:
- Inflation fears: Gold rises when currency value erodes
- Interest rates: Low rates → gold attractive (no yield anyway)
- Geopolitical crises: Wars, sanctions boost safe-haven demand
- Central bank buying: China, Russia, Turkey accumulating reserves
- Jewelry demand: India, China seasonal festivals
Historical context:
- 1900: $20.67/oz (Gold Standard Act)
- 1971: $35/oz (Nixon Shock, end of Bretton Woods)
- 1980: $850/oz (Hunt Brothers silver crisis, inflation)
- 2011: $1,900/oz (Financial crisis aftermath)
- 2020: $2,067/oz (COVID-19 pandemic peak)
Real-time prices: Check Bloomberg, Reuters, Kitco, or bullion dealer sites.
6. What's the difference between "carat" and "karat"?
Completely different units—one measures weight, the other purity:
CARAT (ct) = Gemstone weight
- 1 carat = 200 milligrams = 0.00643 troy ounces
- Measures diamonds, rubies, sapphires, emeralds
- "5-carat diamond" = 1 gram weight
KARAT (K or kt) = Gold purity
- 24K = 100% pure gold
- 18K = 75% gold (18/24)
- 14K = 58.3% gold (14/24)
- Measures alloy composition, not weight
Example: "18K gold ring weighing 0.2 troy ounces" means:
- Karat: 75% pure (18/24)
- Weight: 0.2 oz t = 6.22 g total
- Pure gold: 0.15 oz t = 4.67 g (6.22 × 0.75)
7. Can I buy fractional troy ounces?
Yes! Governments and private mints produce fractional coins:
Common sizes:
- 1/10 oz t (3.11 g) — Popular for small investors
- 1/4 oz t (7.78 g)
- 1/2 oz t (15.55 g)
- 1 oz t (31.10 g) — Most popular size
Trade-offs:
- Pros: Lower entry cost ($200 for 1/10 oz vs. $2,000 for 1 oz), easier to liquidate small amounts
- Cons: Higher premiums per ounce (1/10 oz costs ~15% premium vs. 3-5% for 1 oz)
Example:
- 1 oz Gold Eagle: $2,050 ($50 premium over $2,000 spot = 2.5%)
- 1/10 oz Gold Eagle: $240 ($40 premium over $200 spot = 20%!)
Why higher premiums? Minting costs don't scale linearly. Striking a 1/10 oz coin costs almost as much as a 1 oz coin, so the percentage premium is higher.
8. What is a "Good Delivery" gold bar?
The international standard for large-scale gold bullion, set by the London Bullion Market Association (LBMA).
Specifications:
- Weight: 350-430 troy ounces (typically 400 oz t = 12.4 kg)
- Purity: Minimum 995 parts per 1,000 (99.5% pure gold)
- Fineness stamp: Refinery mark, serial number, purity, year
- Refiners: LBMA-approved list (~70 refineries: PAMP, Valcambi, Rand, Johnson Matthey)
Why "Good Delivery"? Before standardization, banks had to assay every bar (costly, time-consuming). LBMA Good Delivery certification means bars are universally accepted without re-assaying.
Where they're used:
- Central bank reserves (Fort Knox, Bank of England vaults)
- Commercial bank vaults (HSBC, JPMorgan)
- ETF backing (SPDR Gold Shares stores Good Delivery bars)
Retail availability: Most investors never see Good Delivery bars—they're institutional. Retail investors buy 1 oz coins or small bars (1 oz, 10 oz, 100 oz).
9. How do I convert troy ounces to kilograms?
Formula:
1 troy ounce = 0.0311034768 kilograms
OR
1 kilogram = 32.1507466 troy ounces
Quick method: Divide troy ounces by 32.15 to get kilograms:
400 oz t ÷ 32.15 ≈ 12.44 kg
Precise method: Multiply troy ounces by 0.0311034768:
400 oz t × 0.0311034768 = 12.44139072 kg (EXACT)
Common conversions:
- 1 oz t = 0.0311 kg
- 10 oz t = 0.311 kg
- 100 oz t = 3.11 kg
- 1,000 oz t = 31.1 kg
- 32.15 oz t = 1 kg (exactly 1,000 g)
10. What's the smallest amount of gold I can buy?
Technically, you can buy any amount, but practical minimums exist:
Physical gold:
- Smallest coins: 1/10 oz t (~$200-250)
- Gold jewelry: Varies, but 14K chains start around $100-200 (contains ~0.05 oz t pure gold)
- Gold leaf: Decorative, negligible weight (~0.001 oz t per sheet)
Paper gold (no physical delivery):
- Gold ETFs (GLD, IAU): 1 share ≈ 0.1 oz t (~$200)
- Fractional platforms (OneGold, Vaulted): Buy as little as $1 worth (0.0005 oz t)
- Futures contracts: 100 oz t minimum (~$200,000—professional traders only)
Recommendation for beginners: Start with 1/4 oz or 1/2 oz coins (balance between affordability and premiums). Avoid tiny fractions (1/20 oz) due to extremely high premiums.
11. How do jewelers measure gold?
Three units, depending on context:
- Troy ounces (oz t): Buying gold from refineries, calculating melt value
- Pennyweights (dwt): Traditional unit (1 oz t = 20 dwt, 1 dwt = 1.555 g)
- Grams (g): Modern standard, easier math
Example (jeweler selling 14K scrap):
- Weighs scrap: 25.5 grams
- Converts to troy ounces: 25.5 ÷ 31.1 = 0.82 oz t
- Calculates pure gold: 0.82 × 0.583 (14K) = 0.478 oz t
- Refinery pays: 0.478 × $2,000 × 0.95 = $908 (95% of spot, 5% refining fee)
Pennyweight legacy: Older jewelers still use "dwt" for historic reasons. Most modern shops use grams for precision.
12. Why are central banks buying more gold?
Diversification away from the U.S. dollar and geopolitical hedging.
Key drivers:
- De-dollarization: Russia, China, Turkey reducing USD reserves after sanctions
- Inflation hedge: 2020-2024 inflation spikes drove safe-haven demand
- Currency debasement fears: Massive money printing (COVID stimulus) erodes fiat value
- Geopolitical tensions: Ukraine war, Taiwan tensions increase reserve gold holdings
Recent trends (2020-2024):
- China: Added 300+ tons (9.6M oz t) in 2023 alone
- Russia: Doubled reserves to 2,300 tons (74M oz t) before Ukraine war
- Poland: Increased from 103 to 228 tons (7.3M oz t)
- Singapore: Tripled reserves to 230 tons (7.4M oz t)
Why troy ounces matter: Central bank transactions are reported in troy ounces (IMF, World Gold Council standards), even though storage is often measured in metric tons.
About Carat (ct)
1. How many milligrams are in a carat?
There are exactly 200 milligrams (mg) in 1 carat (ct). This precise definition was adopted internationally in 1907 at the Fourth General Conference on Weights and Measures in Paris and has been the global standard ever since. The 200 mg figure was chosen because it was close to the average of various historical carat standards (which ranged from 188-215 mg across different regions) and because it creates a clean metric conversion: 5 carats = 1 gram. Modern gemological laboratories use precision electronic scales that can measure to 0.001 carat (0.2 mg) accuracy, ensuring consistent and transparent gem trade worldwide. For comparison, a US dollar bill weighs approximately 1 gram = 5 carats, and a paperclip weighs ~1 gram = 5 carats. The 200 mg standard is legally enforced by metrology institutes in all countries, making carat weight the most objective and reliable of the "Four Cs" of diamond grading.
2. How many grams are in a carat?
There are exactly 0.2 grams (g) in 1 carat (ct), or conversely, 5 carats = 1 gram. This makes conversion straightforward: multiply carats by 0.2 to get grams, or multiply grams by 5 to get carats. Example: A 2.5-carat diamond weighs 2.5 × 0.2 = 0.5 grams (500 mg). The famous Hope Diamond (45.52 carats) weighs 45.52 × 0.2 = 9.104 grams. This clean metric relationship (5:1 ratio) was one reason the 200 mg standard was adopted in 1907—it integrates seamlessly with the metric system used globally in science and commerce. For context, a single M&M candy weighs approximately 1 gram = 5 carats, and a US nickel (5-cent coin) weighs 5 grams = 25 carats. The simplicity of the 5:1 carat-to-gram ratio facilitates international gem trade calculations and customs declarations.
3. Is carat the same as karat?
No, carat (ct) and karat (K or kt) are completely different units: Carat (ct) measures gemstone weight—1 ct = 200 mg. Used for diamonds, rubies, sapphires, emeralds, pearls, etc. Karat (K) measures gold purity—24K = 100% pure gold, 18K = 75% gold, 14K = 58.3% gold, etc. The fraction of pure gold is: (karat value ÷ 24). Example: 18K gold = 18/24 = 0.75 = 75% gold, 25% other metals (copper, silver, zinc for strength/color). Etymology: Both derive from the same root—"keration" (Greek for carob seed)—but diverged in meaning. In the US, different spellings distinguish them (carat/karat). In UK/Commonwealth, "carat" is used for both, distinguished by context and symbol (ct vs. K). Common example: "18-karat white gold engagement ring with a 1.5-carat diamond" correctly uses both units. Mixing them up causes confusion: "18-carat gold" is meaningless (gold purity isn't measured in gemstone weight units).
4. Why do diamonds cost more per carat as size increases?
Diamond prices exhibit exponential scaling—larger diamonds are disproportionately rarer, so price per carat increases with size. This is called the "carat premium." Example pricing (excellent cut, G color, VS2 clarity): 0.50 ct: $2,000 total = $4,000/ct. 1.00 ct: $6,000 total = $6,000/ct (50% higher per-carat than 0.5 ct). 2.00 ct: $22,000 total = $11,000/ct (83% higher per-carat than 1 ct, 175% higher than 0.5 ct). Why? Rarity: Only ~1 in 1,000 rough diamonds yields a 1-carat polished diamond; only ~1 in 1 million yields 2+ carats. Mining yields mostly small stones. Psychological milestones: Whole carat sizes (1.0, 2.0, 3.0) are culturally significant, driving demand and premiums. Implication: A 2-ct diamond costs ~3-4× more than a 1-ct diamond of identical quality, not 2×. Conversely, buying slightly below milestones (0.90 ct instead of 1.0 ct) can save 15-20% with negligible visual difference.
5. What's the largest diamond ever found?
The largest gem-quality rough diamond ever discovered is the Cullinan Diamond, found on January 26, 1905, at the Premier Mine in Cullinan, South Africa. It weighed an astonishing 3,106.75 carats (621.35 grams, about 1.37 pounds)—roughly the size of a human fist. The diamond was presented to King Edward VII of the United Kingdom and was subsequently cut by Joseph Asscher & Co. in Amsterdam into 9 major gems and 96 smaller brilliants: Cullinan I ("Great Star of Africa"): 530.2 carats, the largest clear-cut diamond in the world, set in the British Royal Sceptre. Cullinan II ("Second Star of Africa"): 317.4 carats, set in the British Imperial State Crown. Both are part of the British Crown Jewels displayed in the Tower of London. Other large rough diamonds: Lesedi La Rona (2015, Botswana): 1,109 carats. Sewelô (2019, Botswana): 1,758 carats (second-largest ever). However, the largest cut and faceted diamond is the Golden Jubilee at 545.67 carats, owned by the Thai Royal Family.
6. Do all gemstones of the same carat weight look the same size?
No! Carat is weight, not size, and different gemstones have different densities (specific gravity), so the same carat weight yields different sizes: 1-carat diamond (SG 3.52): ~6.5 mm diameter (round brilliant). 1-carat ruby/sapphire (SG ~4.0, denser than diamond): ~6.0 mm diameter—looks smaller than diamond. 1-carat emerald (SG ~2.71, less dense than diamond): ~6.9 mm diameter—looks larger than diamond. 1-carat opal (SG ~2.15, much less dense): ~7.5 mm diameter—looks much larger. Implication for buyers: If you want a larger-looking stone for the same budget, emeralds, aquamarines, or opals provide more "visual carat" than diamonds. However, diamonds are harder (Mohs 10) and more durable for daily wear. Cut also matters: A shallow-cut diamond may "spread" to look larger but sacrifices brilliance. A deep-cut diamond looks smaller but may have better light performance. Conclusion: Carat weight alone doesn't determine visual size—gemstone density and cut proportions both matter.
7. Are lab-grown diamonds measured in carats?
Yes, lab-grown (synthetic) diamonds are measured in carats identically to natural diamonds. They are chemically, physically, and optically identical to natural diamonds—pure crystalline carbon (C) with the same hardness (Mohs 10), refractive index (2.42), and density (3.52 g/cm³). Gemological laboratories (GIA, IGI) grade lab-grown diamonds using the same Four Cs (carat, cut, color, clarity) and issue certificates specifying exact carat weight. Key differences: Origin: Lab-grown created in controlled environments (HPHT or CVD methods) in weeks; natural formed over billions of years deep in Earth's mantle. Price: Lab-grown cost 30-70% less than natural diamonds of equivalent quality (e.g., 1 ct lab-grown ~$1,500-$3,000; natural ~$5,000-$8,000). Disclosure: Sellers must disclose lab-grown status; GIA certificates clearly state "laboratory-grown." Market: Growing acceptance, especially among younger, budget-conscious, or environmentally-minded buyers. Some prefer natural for rarity/tradition; others prefer lab-grown for value/ethics. Carat weight identical: 1 carat lab-grown = 200 mg, same as natural.
8. How accurate are carat weight measurements?
Modern carat weight measurements are extremely accurate, thanks to precision electronic scales: Precision: Gemological laboratories use scales calibrated to ±0.001 carat (±0.2 mg), often better. For reference, that's ~1/5th the weight of a single grain of table salt. Calibration: Scales are regularly calibrated against traceable reference standards linked to the SI kilogram (maintained by the International Bureau of Weights and Measures). Environmental control: Measurements performed in temperature-controlled rooms (~20-25°C) to prevent thermal expansion affecting readings. Cleaning: Gemstones cleaned before weighing (dirt, oils, or dust add weight). Repeatability: Multiple measurements averaged to ensure consistency. Certification: GIA, IGI, AGS certificates report carat weight to 0.01 ct (1 point) for consistency: e.g., "1.27 carats," measured to ±0.005 ct. Legal enforcement: Selling gemstones with misrepresented carat weight is fraud in most jurisdictions, punishable by fines and criminal penalties. Result: Carat weight is the most objective, precise, and reproducible of the Four Cs—far more consistent than subjective cut, color, or clarity grading.
9. What does "points" mean in diamond terminology?
In gem trade, 1 carat = 100 points, so 1 point = 0.01 carat = 2 milligrams. "Points" terminology allows precise description of smaller gemstones and fractional carats: Common examples: "50-pointer" = 0.50 carat (50 points). "75-point diamond" = 0.75 carat. "10-point melee" = 0.10 carat (small accent stones). "One-pointer" = 0.01 carat (tiny chip diamonds used in pavé settings). Why use points? Easier for small stones: Saying "ten-pointer" is quicker than "zero-point-one-carat." Pricing precision: Allows price-per-point calculations for wholesale. Trade jargon: Professional jewelers, cutters, and traders use points routinely. Historical: Predates electronic scales; points allowed finer distinctions than early balance scales. Example in retail: "This ring features a 75-point center diamond surrounded by 20 points total weight of accent stones" = 0.75 ct + 0.20 ct = 0.95 ct total carat weight (TCW). Note: While points are common in trade, consumer-facing marketing usually uses decimals: "0.50 ct" rather than "50 points."
10. Why did ancient people use carob seeds to weigh gems?
Ancient Mediterranean merchants used carob seeds (Ceratonia siliqua) as counterweights on balance scales because they believed these seeds had remarkably uniform weight—approximately 200 milligrams each, close to today's carat standard. Practical advantages: Abundance: Carob trees grew widely across Mediterranean (Greece, Italy, Middle East), making seeds readily available. Portability: Small, lightweight seeds easy to carry in pouches for trade. Durability: Dried carob seeds don't decay quickly; can be stored for years. Size: Perfect for weighing small, valuable items (gems, gold, spices, medicines). Ancient trade: Greek, Roman, Arab, and Persian merchants traveled long distances with balance scales and carob seeds, facilitating gem trade across continents. The belief in uniformity: Ancient texts suggest carob seeds were thought to have nearly identical weights, making them natural standard units. Reality: Modern analysis shows carob seeds actually vary by 10-20% (180-220 mg), so ancient weights weren't as precise as believed. However, the average (~200 mg) happens to closely match the modern carat, suggesting ancient merchants intuitively converged on a practical standard that persists today.
11. Can you haggle over carat weight when buying diamonds?
No, carat weight is objectively measurable and non-negotiable—a 1.00 ct diamond weighs exactly 200 mg, confirmed by precision scales. You cannot "haggle" to get 1.10 ct weight for the price of 1.00 ct. What you CAN negotiate: Price per carat: Total cost for the specific diamond (negotiating discount on asking price). Quality trade-offs: Choosing lower color (G vs. D), lower clarity (VS2 vs. VVS1), or different cut to stay within budget while maximizing carat. Just-below milestones: Purchasing 0.90 ct instead of 1.00 ct saves 15-20% with negligible visual difference—smart buying strategy, not haggling on weight. Total jewelry piece: Negotiating on the setting, band material, or package deal (ring + earrings). Trade-in: Bringing old jewelry to trade toward purchase. Timing: Shopping during sales (Black Friday, Valentine's Day) or at end of month/quarter when sellers have targets. What sellers CANNOT do: Misrepresent carat weight. Gemological certificates from GIA/IGI specify exact weight. If a seller claims a 1.00 ct diamond weighs more/less than 200 mg, it's either fraud or an error. Pro tip: Focus negotiations on price-per-carat reduction or value-adds (free resizing, upgraded setting), not on changing the actual diamond weight.
12. How has the carat system changed with modern technology?
The carat definition (200 mg) remains unchanged since 1907, but technology has revolutionized measurement, cutting, and trade: Precision scales: Modern electronic scales measure to ±0.001 ct (±0.2 mg) vs. early 20th-century balance scales (±0.05-0.10 ct). Ensures consistent global trade. Laser cutting: Computer-controlled lasers cut diamonds with micron-level precision, optimizing yield from rough and maximizing brilliance for a given carat weight. Can achieve ideal proportions consistently. 3D scanning: Machines scan rough diamonds in seconds, calculating optimal cut to maximize carat weight retention while achieving excellent proportions. Before: Cutters relied on experience; now: Algorithms optimize. Synthetic diamonds: Lab-grown diamonds (HPHT, CVD) can be produced to target carat weights, unlike mining where sizes are random. Enables consistent supply of specific sizes. Online retail: Internet sellers (Blue Nile, James Allen) list thousands of diamonds with exact carat weights, photos, 360° videos. Buyers filter by precise carat ranges (1.00-1.25 ct). Blockchain tracking: Some companies use blockchain to track diamonds from mine to retail, recording carat weight at each stage, enhancing transparency. AI grading: Emerging AI systems assist gemologists in assessing cut quality and predicting optimal finished carat weight from rough. Result: The carat unit is stable, but technology makes measurement, cutting, and trading far more precise, efficient, and transparent than ever before.
Conversion Table: Troy Ounce to Carat
| Troy Ounce (oz t) | Carat (ct) |
|---|---|
| 0.5 | 77.759 |
| 1 | 155.517 |
| 1.5 | 233.276 |
| 2 | 311.035 |
| 5 | 777.587 |
| 10 | 1,555.174 |
| 25 | 3,887.935 |
| 50 | 7,775.869 |
| 100 | 15,551.738 |
| 250 | 38,879.346 |
| 500 | 77,758.692 |
| 1,000 | 155,517.384 |
People Also Ask
How do I convert Troy Ounce to Carat?
To convert Troy Ounce to Carat, enter the value in Troy Ounce in the calculator above. The conversion will happen automatically. Use our free online converter for instant and accurate results. You can also visit our weight converter page to convert between other units in this category.
Learn more →What is the conversion factor from Troy Ounce to Carat?
The conversion factor depends on the specific relationship between Troy Ounce and Carat. You can find the exact conversion formula and factor on this page. Our calculator handles all calculations automatically. See the conversion table above for common values.
Can I convert Carat back to Troy Ounce?
Yes! You can easily convert Carat back to Troy Ounce by using the swap button (⇌) in the calculator above, or by visiting our Carat to Troy Ounce converter page. You can also explore other weight conversions on our category page.
Learn more →What are common uses for Troy Ounce and Carat?
Troy Ounce and Carat are both standard units used in weight measurements. They are commonly used in various applications including engineering, construction, cooking, and scientific research. Browse our weight converter for more conversion options.
For more weight conversion questions, visit our FAQ page or explore our conversion guides.
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Other Weight Units and Conversions
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- Kilogram (kg) • Troy Ounce to Kilogram
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- Ounce (oz) • Troy Ounce to Ounce
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Last verified: December 3, 2025