Gold, gemstones and other precious metals are measured in Troy ounces, where 1 troy ounce is 31.1034768 grams. Troy ounces are heavier than a normal ounce, known as an "Avoirdupois" ounce. There are 28.35 grams in an Avoirdupois ounce.
It is said that the name "Troy" was taken from an annual fair, also known as the Champagne fairs, held in France where traders used to come from all over the world to trade.
Gold is also measured by its purity, for example, 100% pure gold is 24 karat. If gold is not pure and is mixed with alloys then the karat will be decrease, as will its value.
If you want to sell your gold for money, most good jewelers will have the correct scales and will generally give you a price there and then. As gold fluctuates in value on a daily basis, pick your time wisely to get the best price.
Be sure that if you have gold or silver to sell, that you and the buyer are using the same weight system as some will use the Troy ounce and some will use the Avoirdupois ounce. To save any confusion or disappointment, make sure you are aware of the denomination they are working with.
To convert a Troy ounce to an Avoirdupois ounce, simply take the Troy ounce figure and multiply by 1.0971. To convert an Avoirdupois ounce to a Troy ounce, simply take your Avoirdupois ounce figure and multiply by 0.9115.
If you are buying gold, be sure that you are buying from a reliable source and that you have some knowledge of the hallmarks and their meanings. Also, take a good set of scales with you - one little mistake could end up costing you dearly.
It is said that the name "Troy" was taken from an annual fair, also known as the Champagne fairs, held in France where traders used to come from all over the world to trade.
Gold is also measured by its purity, for example, 100% pure gold is 24 karat. If gold is not pure and is mixed with alloys then the karat will be decrease, as will its value.
If you want to sell your gold for money, most good jewelers will have the correct scales and will generally give you a price there and then. As gold fluctuates in value on a daily basis, pick your time wisely to get the best price.
Be sure that if you have gold or silver to sell, that you and the buyer are using the same weight system as some will use the Troy ounce and some will use the Avoirdupois ounce. To save any confusion or disappointment, make sure you are aware of the denomination they are working with.
To convert a Troy ounce to an Avoirdupois ounce, simply take the Troy ounce figure and multiply by 1.0971. To convert an Avoirdupois ounce to a Troy ounce, simply take your Avoirdupois ounce figure and multiply by 0.9115.
If you are buying gold, be sure that you are buying from a reliable source and that you have some knowledge of the hallmarks and their meanings. Also, take a good set of scales with you - one little mistake could end up costing you dearly.
