Conversion Calculator
Conversion Tables
| 31.1034768 | Grams |
| 0.0311035 | Kilograms |
| 0.0321507 | Troy Ounces |
| 0.001 | Kilograms |
| 32.1507466 | Troy Ounces |
| 1000 | Grams |
Glossary
- Bullion
- General term for investment-grade precious metals (gold, silver, platinum, etc.) in the form of bars, coins, and rounds
- Troy Ounce
- Unit of measure for weights of precious metals. See the FAQ for the difference between a standard ounce vs. troy ounce
- Spot Price
- The current price of the metal, usually quoted in $ per troy ounce. This is best thought of as an institutional price and retail investors should expect to pay a premium above the spot price.
- Premium
- The amount paid over the spot price. Premiums can vary depending on number of factors such as how liquid a product is and volatility of the market.
- Assay
- Test to determine the weight and purity of a precious metal item. Products that have been assayed will often be accompanied with a certificate.
FAQ
What's the difference between an ounce and a troy ounce?
A standard ounce is commonly used for weighing everyday items (ex: an ounce of sugar), while a troy ounce is used specifically for precious metals like gold and silver. The troy ounce is slightly heavier than the standard ounce, with 1 troy ounce equal to approximately 1.097 standard ounces. Technically speaking, a standard ounce is abbreviated as "oz" and a troy ounce as "t oz" or "ozt". However, the use of troy ounces is so common in the precious metals industry you'll often see sellers use just "oz" to represent troy ounces. Always check product details before buying to be sure.
What's the difference between a coin and a round?
A coin refers to government-issued legal tender that has a stated value and can technically be used like paper currency. In practice, the precious metal "melt" value most always exceeds the printed currency value. A round may have the same form but has no legal currency status and can be created by private mints.
Why are some gold coins less pure than others and should I only buy pure gold coins?
Coins may be a mix of more than one metal, usually for the sake of durability as gold is a relatively soft metal. As an example the United States Mint produces two gold coins, the Buffalo (24 karat, 0.9999 pure) and the Eagle (22 karat, 0.9167 pure) but both contain the same amount of gold. Many factors determine a coin's market value. Some investors prefer pure gold while others may not or consider it unimportant.