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Gold bullion coins and bars also typically weigh 1 troy ounce, or a measure of troy ounces, such as “10 troy ounces.” A troy ounce is different than a regular ounce. 1 troy ounce = 1.1 regular ounce.
There are 31.1 grams in a troy ounce. There are 20 penny weights in a troy ounce. Scrap gold purchase prices are generally quoted in pennyweights. If prices are quoted in other weights, simply do the calculation so that comparisons can be made in like-weights.

  • 24 grains = 1 pennyweight = 1.5552 grams
  • 1 gram = .64 pennyweight
  • 1 pennyweight = 1.56 grams or .05 troy ounce
  • 20 pennyweight = 1 troy ounce = 31.1035 grams
  • 12 ounces = 1 pound troy = 373.24 grams.
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