Metal Prices
	GBP	USD	EUR
Gold Price	£3,006.30	$3,976.89	€3,485.90
Silver Price	£43.63	$57.67	€50.54

What is a Troy Ounce?

If you've ever looked at the price of gold or silver, you'll have noticed it quoted in troy ounces rather than standard ounces. Understanding troy ounces is essential when buying gold bars or gold coins, as it directly affects the value and weight of your investment. BullionByPost uses troy ounces as the standard measurement for all precious metals, ensuring you always know exactly what you're buying.

The troy ounce is a unit of weight used specifically for precious metals such as gold, silver, platinum and palladium. Sometimes the symbols oz t, t oz, or ozt are used to differentiate the troy ounce from the standard ounce (oz), however most bullion dealers will simply state ounces, because the troy ounce is the standard measurement unit for precious metals.

How Many Grams Are in a Troy Ounce

One troy ounce equals 31.1035 grams.

To convert grams into troy ounces, multiply the number of grams by 0.03215074656863.

Grams	Troy Ounces
1g	0.032 Troy Ounce
2g	0.064 Troy Ounce
3g	0.096 Troy Ounce
4g	0.129 Troy Ounce
5g	0.161 Troy Ounce
6g	0.193 Troy Ounce
7g	0.225 Troy Ounce
8g	0.257 Troy Ounce
9g	0.289 Troy Ounce
10g	0.322 Troy Ounce

What is the Difference Between an Ounce and a Troy Ounce

Investors in precious metals should be careful to note the difference between a troy ounce and the common 'avoirdupois' ounce, which is still used in some countries such as Great Britain and USA. The troy ounce weighs around 10% (2.75g) more than the standard ounce at 31.1034768g compared to 28.349523125g.

This distinction matters when you're investing in physical gold and silver. When BullionByPost lists a product as one troy ounce of gold, you're receiving 31.1 grams of precious metal, not the lighter 28.3 grams of a standard ounce. This difference can significantly impact the value of larger purchases.

Why Precious Metals Use Troy Ounces

The troy ounce traces its roots back to the medieval trading city of Troyes in France, a major commercial centre in the Middle Ages. Merchants needed a consistent system for weighing valuable goods, and over time the troy system became the standard for precious metals.

Today the troy ounce is still the global benchmark for precious metals. Whether gold bullion is being traded in London, Zurich or New York, it's weighed in troy ounces. This international standardisation ensures that when you buy gold from BullionByPost, you're using the same measurement system recognised by investors, dealers and refineries worldwide.

Troy Ounce

Global Trading Standards

Precious metals markets rely on precise, internationally recognised standards. The troy ounce provides exactly that. It ensures that a gold bar in the UK weighs the same, and is valued the same as a gold bar anywhere else in the world. This standardisation is one of the reasons precious metals can be traded globally with confidence.

The London Bullion Market Association (LBMA), which sets global standards for precious metals trading, uses troy ounces as its standard unit. When BullionByPost sources gold from major European refineries such as Umicore and Metalor, all transactions are conducted in troy ounces. This ensures complete transparency and accuracy in pricing.

Troy Ounces and UK Currency History

The troy ounce use in the measurement of precious metals is due to the fact that the value of money used to be fixed by a certain amount of silver. The monetary unit one pound contained one troy pound of silver. It seems perfectly logical, then, that this unit of measurement be linked to the value of precious metals.

Although the value of money is no longer fixed by precious metals, the troy ounce is still used because of the London Bullion Market Association's use of beam balances to weigh gold, due to technical difficulties in using metric electronic scales.

Troy Ounces at BullionByPost

At BullionByPost, we use troy ounces for all our precious metals pricing because it provides the most accurate and internationally recognised measurement. When you view live gold prices on our website, they're quoted per troy ounce, updating frequently in line with global markets.

Our most popular products include one ounce gold coins such as the Britannia and Canadian Maple Leaf, as well as one ounce gold bars in various sizes from 1g upwards. Understanding that you're purchasing in troy ounces helps you compare prices accurately and make informed investment decisions.

All orders benefit from free, fully insured delivery, transparent pricing based on the spot price per troy ounce, and real-time stock availability. Whether you're buying your first gold coin or adding to an established portfolio, knowing the exact weight in troy ounces gives you confidence in your investment.