Silver Troy Ounce Price

Troy System of weights

When you visit the commodity markets or online trading sites, you will see the prices of gold, silver and other precious metals mentioned in troy ounces. This measure belongs to the troy system, which originated in Troyes, France, where it was first used. You may need to convert the silver troy ounce price into other systems, for various purposes. For selling or buying silver, you need to know the difference between the various weights.

Avoirdupois ounce and Troy Ounce

The troy ounce silver price must not be confused with the avoirdupois ounce price of sugar in a grocery store. They both belong to two different systems of measurement of weights. The troy ounce belongs to the troy system of weights coming from Troyes, France. One should also know the relation between a troy ounce and a troy pound, as there are 12 troy ounces in a troy pound. This is different from the avoirdupois ounce of which there are 16 in the avoirdupois pound, which is used to measure the weight of commodities like sugar, salt and other such products.

A troy pound contains 12 troy ounces, as mentioned above, but a standard avoirdupois pound has 14 7/12 ounces in it. Hence, this makes the avoirdupois pound greater in weight than the troy pound. For converting an ounce of silver into troy ounce, you must multiply the ounce weight with .912 to get the silver price per troy ounce. You will notice that silver bars and coins are sold in troy ounces. The difference between ounce and troy ounce is very important, as there may be some unscrupulous dealers who might use the standard scale of avoirdupois ounce instead of troy ounce scale and take advantage of the ignorant consumer.

Knowing various conversion measures

Another measurement in the troy system of weights is the pennyweights. When given the weight of silver in pennyweights, you can convert it by knowing that there are 20 pennyweights in one troy ounce, in order to calculate the silver price per troy ounce. In order to convert a troy ounce into a troy pound, the value of the troy ounce should be multiplied with 0.08333 and in order to convert the troy ounce value into avoirdupois pounds, the value of the troy ounce should be multiplied with 0.06857.If the weight of the silver is given in grams, and you need to know the silver troy ounce price then you can convert by using the relation between grams and troy oz.

Want more information about gold and other precious metals? Visit our guide to Precious Metal.

Silver Troy Ounce Price

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