This is a series of blog posts provided by Canada Gold to educate our customers on the fundamentals of gold buying and selling.
To see earlier posts in this series
You may have heard the term troy ounce when looking at gold or silver prices and wondered:
“Is that the same as a regular ounce?”
It is a great question, and the answer is no.
When it comes to precious metals like gold and silver, the industry uses a different system of measurement than the one we use for everyday items like food or shipping. Understanding the difference can help you make sense of pricing, weight and value when buying or selling precious metals.
Let’s walk through it.
What Is a Troy Ounce?
A troy ounce is the standard unit of weight used for precious metals such as gold, silver, platinum and palladium.
One troy ounce equals 31.103 grams.
This is the measurement used worldwide when pricing precious metals. So when you see the price of gold or silver listed online, it is almost always referring to the price per troy ounce, not a regular ounce.
Why Is It Called a Troy Ounce?
The term troy ounce comes from the city of Troyes in France, a major trading hub during the Middle Ages.
Merchants needed a reliable way to measure valuable goods, so they created a standardized system of weights. That system became known as the troy system, and it is still used today to measure precious metals around the world.
It may sound historical, but the reason it stuck is simple. It provides a consistent, trusted way to measure valuable materials.
What Is a Regular Ounce?
The ounce most people are familiar with is called an avoirdupois ounce, often just referred to as a regular ounce.
This is the measurement used for everyday items like:
- food
- packages
- household goods
- postage and shipping
A regular ounce weighs 28.35 grams, which is slightly lighter than a troy ounce.
The Simple Difference
Here is the key takeaway.
A troy ounce is heavier than a regular ounce.
- 1 troy ounce = 31.103 grams
- 1 regular ounce = 28.35 grams
That means a troy ounce is about 10 percent heavier than a regular ounce.
It may not sound like a big difference, but when you are dealing with valuable metals, even small differences in weight can affect the value.
Why Precious Metals Use Troy Ounces
The precious metals industry uses the troy system because it creates consistency across markets around the world.
Using the same standard measurement helps ensure:
- fair and accurate pricing
- consistent weights for coins and bars
- reliable comparisons between buyers and sellers
In short, it keeps things transparent and standardized, which is especially important when dealing with valuable materials.
Where You’ll See Troy Ounces
You will most commonly see troy ounces used when:
- buying or selling gold or silver
- checking live precious metal prices
- weighing bullion coins or bars
- calculating the value of scrap jewellery
For example, a standard Canadian Gold Maple Leaf coin contains one troy ounce of gold, which equals about 31.1 grams.
Why This Matters When Selling Jewellery or Precious Metals
When customers bring items into our stores, one of the most common questions is:
“How do you calculate the value?”
Weight is a big part of the answer.
At Canada Gold, items are weighed using the same industry standard measurement system used around the world. That ensures accuracy and fairness when determining value.
It also means customers can compare prices confidently, knowing they are based on a consistent unit of measurement.
Curious About the Value of Your Gold or Silver?
If you are unsure how your items are measured or valued, you are always welcome to stop by and ask questions.
Our team will:
- test your items
- verify purity
- weigh them accurately
- explain the process step by step
There is no pressure to sell. Our goal is simply to help you understand what you have and how the value is determined.
Photo Courtesy of Vecteezy