Jump to: What is a Troy Ounce? | Relevance of Troy Ounce | History | Ounce vs Troy Ounce | Troy Ounces in a Kilo | Conversion Table | Why Precise Conversions Matter? | FAQs
If you are new to the precious metals market, you have probably just come across the term "Troy Ounce," but it is pretty standard terminology when buying products such as gold and silver bullion.
Many investors still don’t know how the troy ounce differs from the regular ounce, much less how it would be equivalent in grams or kilograms.
In this article, we hope to answer the frequently asked question, "How many troy ounces in a kilo ?" as well as dive into the differences between the Ounce and Troy Ounce and why it is important as an investor to be familiar with the official precious metals measurement.
What Is a Troy Ounce?
The Troy Ounce (also symbolized as ozt or just oz) is a unit of weight measurement used as a method to weigh and price precious metals, and it is equal to 31.1035 grams.
Relevance of the Troy Ounce
When buyers purchase a silver bar, for example, it will usually be measured in troy ounces. It is essential to have an internationally standardized measurement for the precious metals market to flow.
The U.S. Mint produces the American Silver Eagles in 1 troy ounce of silver. They are one of the most popular coins among investors and, like many silver bullion coins, are advertised as 1 oz of .999 fine silver products, fully insured by the United States Government.
The standardized measurement is a form of security on the product's value.
The value of bullion products is based mainly on the noble metal's current price per ounce. When investors buy products like silver bars, they will pay a few dollars above the spot price. The extra amount corresponds to the premium, which stands for the extra costs in the manufacturing of the product.
History of the Troy Ounce
The troy ounce most likely originated in the trade markets of Troyes in France in the Middle Ages. It was later adopted by the British and the Americans, becoming the primary unit of measure for precious commodities like gold, silver, platinum, and palladium.
The Differences Between Ounce Vs. Troy ounces
The Standard Ounce (the avoirdupois ounce) usually measures goods like sugar and salt. It is around 28.35 grams.
Troy ounces are specially used when precious metals are purchased, while the Ounce is generally used for everyday things. Both units vary slightly. When compared, products measured in the troy ounce scale will be 10 % heavier than if measured in the standard ounce.
The standard ounce is commonly used throughout the USA and can also be known as an imperial or avoirdupois ounce. It was first used in the early 13th century. It was then updated and made official almost six centuries later. Nowadays, the avoirdupois system is still used, to varying degrees, not only in the U.S., but also in other former British colonies, such as Canada, Australia and New Zealand.
Check out this detailed article about the differences between Ounce Vs. Troy ounces.
How many Troy Ounces in a Kilo?
Kilograms are the most basic form of weight measurement in the metric system. One kilogram is equal to the mass of 1,000 cubic centimeters or the mass of one liter of water, or if you like, 1,000 grams.
1 kilogram is equal to about 32.1507 troy ounces.
The Royal Canadian Mint 1 Kilo Gold Bars. Each of these bars contains a whopping 1-kilogram of pure 0.9999 Au (Gold). They are popular and liquid options in the world of precious metals
Take a look at this SD bullion video answering the question How many Grams are in an ounce of Silver?
Conversion Table
1 Troy Ounce is equivalent to:
|
Standard Ounce |
1.097 |
|
Grams |
31.103 |
|
Kilograms |
0.0311 |
|
Pounds |
0.0685 |
|
Carats |
155.517 |
|
Pennyweight |
20 |
Why Do Precise Conversions Matter?
Understanding the conversion between units such as troy ounces and regular ounces is essential for many reasons: in the trade and investment of precious metals, where prices are often quoted in troy ounces, this knowledge is crucial for assessing costs and values in transactions.
The pricing of products, such as coins and bars, is usually based on weight in troy ounces, requiring familiarity with these units for accurate evaluation. It helps the investor make informed investment decisions and precise analysis of price fluctuations and market trends.
Final Thoughts
We hope to have clarified the technical differences between the Troy ounces and Regular Ounces, as well as answered how many troy ounces are in a kilo.
It is worth mentioning that silver and other physical commodities, such as gold, have been used as a way of wealth protection since ancient times, and nowadays, they are also used as a hedge against inflation and economic recession.
Understanding the measurement of precious metals is not only insightful but is also instrumental in deciphering how bullion products are priced, enabling investors to navigate the market intelligently and make informed choices in their financial lives.
FAQs
What is the difference between 1 oz and 1 troy oz?
The Troy ounces (Troy oz) are used to measure precious metal products like silver bars and gold bullion coins, and 1 troy ounce is equal to 31.1 grams. The Avoirdupois Ounce (oz) is used to measure common goods like sugar and salt, and it is equal to 28.3 grams.
How many troy ounces is a kilo bar of silver?
1 kilo silver bar is usually equal to 32.2 troy ounces.
How many ounces of gold make a kilo?
1 kilo of gold corresponds to 32.15 troy ounces of gold. They normally have a purity of between 0.995 to .9999. The purity refers to how much gold there is in the bullion product alloy composition.
How many kilos is a 1000 oz silver bar?
Considering that 1 Troy oz is equivalent to 31.1035 grams, a 1000 oz silver bar weighs 31.1035 kilos.
