Troy Ounce to Ounce Converter
Convert troy ounces to ounces with our free online weight converter.
Quick Answer
1 Troy Ounce = 1.097143 ounces
Formula: Troy Ounce × conversion factor = Ounce
Use the calculator below for instant, accurate conversions.
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Troy Ounce to Ounce Calculator
How to Use the Troy Ounce to Ounce Calculator:
- Enter the value you want to convert in the 'From' field (Troy Ounce).
- The converted value in Ounce 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 Ounce: Step-by-Step Guide
Converting Troy Ounce to Ounce involves multiplying the value by a specific conversion factor, as shown in the formula below.
Formula:
1 Troy Ounce = 1.09714 ouncesExample Calculation:
Convert 5 troy ounces: 5 × 1.09714 = 5.4857 ounces
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 Ounce?
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)
The ounce (symbol: oz, from Italian onza) is a unit of mass equal to exactly 1/16 of an avoirdupois pound, which is 28.349523125 grams in the metric system.
Avoirdupois Ounce vs. Troy Ounce
When Americans say "ounce" in everyday life, they almost always mean the avoirdupois ounce (28.35 g). However, there's a second type of ounce:
Avoirdupois Ounce (Standard Ounce):
- 28.35 grams
- Used for: food, cooking, postal weight, groceries, body weight, general commerce
- 16 ounces = 1 avoirdupois pound
Troy Ounce:
- 31.10 grams (about 10% heavier)
- Used exclusively for: precious metals (gold, silver, platinum), gemstones, gunpowder
- 12 troy ounces = 1 troy pound
- Abbreviated: "oz t" or "ozt"
Critical distinction: When buying gold or silver, prices are quoted per troy ounce (31.1 g), not avoirdupois ounce (28.35 g). A troy ounce is about 2.75 grams heavier than a standard ounce.
Ounce vs. Fluid Ounce
This is one of the most common sources of confusion in American cooking:
Ounce (oz): Measures weight/mass
- Used for solid or bulk ingredients: flour, sugar, meat, cheese
- 1 oz = 28.35 grams
- Measured with a scale
Fluid Ounce (fl oz): Measures volume/capacity
- Used for liquids: water, milk, juice, oil
- 1 fl oz = 29.57 milliliters (US) or 28.41 mL (UK)
- Measured with measuring cups
When they happen to match: For pure water at room temperature, 1 fluid ounce weighs approximately 1 ounce. This coincidence often misleads people into thinking oz and fl oz are interchangeable—they're not.
Example of the difference:
- 8 fl oz of water weighs about 8 oz
- 8 fl oz of honey weighs about 12 oz (honey is denser)
- 8 fl oz of olive oil weighs about 7.3 oz (oil is less dense)
Mathematical Relationships
1 ounce equals:
- 1/16 of a pound (exactly)
- 28.349523125 grams (exactly)
- 0.028349523125 kilograms
- 437.5 grains (grain is an even smaller unit)
- 28,349.523125 milligrams
Common fractions of a pound:
- 1 oz = 1/16 lb = 0.0625 lb
- 4 oz = 1/4 lb = 0.25 lb (quarter-pound)
- 8 oz = 1/2 lb = 0.5 lb (half-pound)
- 12 oz = 3/4 lb = 0.75 lb
- 16 oz = 1 lb (full pound)
Note: The Troy Ounce is part of the imperial/US customary system, primarily used in the US, UK, and Canada for everyday measurements. The Ounce belongs to the imperial/US customary system.
History of the Troy Ounce and Ounce
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.
Roman Origins: The Uncia
Latin Etymology: The word "ounce" comes from the Latin "uncia," meaning "one-twelfth" (related to "inch," from the same root).
Roman Measurement: In ancient Rome, the uncia was 1/12 of a Roman pound (libra), approximately 27 grams. The Romans used base-12 (duodecimal) systems for many measurements.
Symbol Origin: The abbreviation "oz" comes from the medieval Italian word onza (ounce), not from any English word starting with "o" and "z."
Medieval European Variation
Regional Chaos: Throughout medieval Europe, dozens of different "ounces" existed, varying by region, city, and trade guild. An ounce in Paris differed from an ounce in London, Venice, or Amsterdam.
Two Main English Systems:
Troy System (for precious goods):
- Used for gold, silver, jewels, and later gunpowder
- Troy ounce: 31.1 grams
- 12 troy ounces = 1 troy pound
- Named after Troyes, France, site of important medieval trade fairs
Avoirdupois System (for bulk goods):
- From French avoir de pois ("goods of weight")
- Used for wool, grain, cheese, meat—everyday bulk commodities
- Avoirdupois ounce: 28.35 grams
- 16 avoirdupois ounces = 1 avoirdupois pound
- Developed by medieval merchants for practical trade
English Standardization
1300s-1500s: Gradual Standardization: English monarchs attempted to standardize weights and measures, but variation persisted.
1588: Queen Elizabeth I: Confirmed the avoirdupois system for general trade, establishing 16 ounces per pound for commerce.
Troy System Preserved: The troy ounce remained the standard for precious metals, a tradition maintained to this day.
1959: International Agreement
Modern Definition: The 1959 international yard and pound agreement between the United States, United Kingdom, Canada, Australia, New Zealand, and South Africa defined:
- 1 pound (avoirdupois) = exactly 453.59237 grams
- 1 ounce (avoirdupois) = exactly 1/16 pound = 28.349523125 grams
This eliminated minor variations between US and British measurements and anchored imperial units to the metric system.
Common Uses and Applications: troy ounces vs ounces
Explore the typical applications for both Troy Ounce (imperial/US) and Ounce (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 ounces
Cooking and Baking
Recipe Measurements: American recipes commonly specify ingredient weights in ounces:
- Dry ingredients: flour, sugar, chocolate chips, nuts
- Solid fats: butter, shortening, cream cheese
- Proteins: chicken breasts (6 oz), ground beef (12 oz)
Kitchen Scales: Digital kitchen scales display weight in ounces (and grams), allowing precise measurement:
- Toggle between oz and g
- Tare function to zero out container weight
- Precision to 0.1 oz or 1 gram
Baker's Preference: Professional bakers prefer weight (ounces) over volume (cups) because:
- More accurate and consistent
- Eliminates measurement errors
- Works regardless of how ingredients settle or compact
Grocery Shopping and Pricing
Price per Pound, Sold by Ounce: Many items are priced per pound but sold in ounce quantities:
- Deli meat: "$8.99/lb, customer orders 6 oz"
- Cheese: "$10.99/lb, customer gets 4 oz"
- Bulk nuts: "$12.99/lb, customer takes 8 oz"
Nutrition Labels: US food labels show serving size in both household measures and ounces:
- "Serving Size: 3/4 cup (30g, about 1 oz)"
- This allows people to weigh food if they don't have measuring cups
Comparison Shopping: Savvy shoppers compare unit prices (price per ounce) to find better deals:
- Large box cereal: $0.25/oz
- Small box cereal: $0.35/oz
- Buying larger sizes often reduces cost per ounce
Postal Services and Shipping
USPS Pricing Tiers: First-Class Mail costs increase per ounce:
- 0-1 oz: $0.68 (2024 rate)
- 1-2 oz: $0.92
- 2-3 oz: $1.16
- 3-3.5 oz: $1.40
Package Weight Categories:
- Under 1 pound: priced per ounce
- Over 1 pound: typically priced per pound
Shipping Strategy: Sellers carefully package items to stay under weight thresholds, sometimes removing extra packaging to save an ounce.
Precious Metals and Jewelry
Troy Ounce Standard: Gold, silver, platinum, and palladium are traded globally in troy ounces:
- Gold price: "$2,050 per troy ounce" (example)
- Silver price: "$25 per troy ounce" (example)
- Bullion bars marked in troy ounces (1 oz, 10 oz, etc.)
Jewelry Weights: Precious metal jewelry is often described by weight:
- "14K gold chain, 0.5 troy oz"
- "Sterling silver bracelet, 1.2 troy oz"
Investment: Investors buy gold/silver coins and bars measured in troy ounces (1 oz American Gold Eagle, 5 oz silver bar).
Medical and Healthcare
Infant Weight: Hospitals and pediatricians measure newborn weight in pounds and ounces:
- Birth weight: "7 pounds 6 ounces"
- Weight checks: tracking gains of 4-6 oz per week
- Feeding goals: "baby should gain 5-7 oz weekly"
Medication Dosing: Some medications dose by body weight:
- Pediatric doses calculated per pound or per ounce
- Conversion to metric (kg) for precise dosing
Nutrition and Dietetics: Dietitians often recommend portion sizes in ounces:
- "3 oz serving of protein" (deck of cards size)
- "1 oz serving of cheese" (pair of dice size)
Portion Control and Diet
Standard Serving Sizes:
- Meat/fish: 3-4 oz (cooked)
- Cheese: 1-1.5 oz
- Nuts: 1 oz (small handful)
- Pasta: 2 oz dry per serving
- Cereal: 1 oz (varies by type; check label)
Visual Cues for Ounces:
- 3 oz meat = deck of playing cards
- 1 oz cheese = pair of dice
- 1 oz nuts = small handful
- 2 oz pasta = fits in cupped palm
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.
Conversion Table: Troy Ounce to Ounce
| Troy Ounce (oz t) | Ounce (oz) |
|---|---|
| 0.5 | 0.549 |
| 1 | 1.097 |
| 1.5 | 1.646 |
| 2 | 2.194 |
| 5 | 5.486 |
| 10 | 10.971 |
| 25 | 27.429 |
| 50 | 54.857 |
| 100 | 109.714 |
| 250 | 274.286 |
| 500 | 548.571 |
| 1,000 | 1,097.143 |
People Also Ask
How do I convert Troy Ounce to Ounce?
To convert Troy Ounce to Ounce, 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 Ounce?
The conversion factor depends on the specific relationship between Troy Ounce and Ounce. 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 Ounce back to Troy Ounce?
Yes! You can easily convert Ounce back to Troy Ounce by using the swap button (⇌) in the calculator above, or by visiting our Ounce 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 Ounce?
Troy Ounce and Ounce 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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⚖️ Metric vs Imperial
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All Weight Conversions
Other Weight Units and Conversions
Explore other weight units and their conversion options:
- Kilogram (kg) • Troy Ounce to Kilogram
- Gram (g) • Troy Ounce to Gram
- Milligram (mg) • Troy Ounce to Milligram
- Pound (lb) • Troy Ounce to Pound
- Stone (st) • Troy Ounce to Stone
- Ton (metric) (t) • Troy Ounce to Ton (metric)
- Ton (US) (ton) • Troy Ounce to Ton (US)
- Ton (UK) (long ton) • Troy Ounce to Ton (UK)
- Microgram (µg) • Troy Ounce to Microgram
- Carat (ct) • Troy Ounce to Carat
Verified Against Authority Standards
All conversion formulas have been verified against international standards and authoritative sources to ensure maximum accuracy and reliability.
National Institute of Standards and Technology — US standards for weight and mass measurements
International Organization for Standardization — International standard for mechanics quantities
Last verified: December 3, 2025