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All Forums Category: General Numismatic Forums Forum: Tokens, Medals, Challenge Coins, and other Exonumia

Grams In An Ounce?

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coinheir
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 Posted 07/07/2007  12:25 pm Show Profile   Bookmark this topic Add coinheir to your friends list Get a Link to this Message Number of Subscribers
Hi. I'm spanking new to all this coin and precious metals stuff..

I seem to remember from my high school days, that an ounce was equal to 28 grams. (Don't ask why I knew that, I just did! and besides, it was almost 30 years ago!)
But when I'm looking at the spot price of silver and gold, and I have a coin that is 56.56 grams, can I just divide the spot by 28 and multiply by 56.56 to get a bullion value? Also, if Sterling Silver is 92.5% do I have to multiply my final result by that?

Thanks.
Edited by coinheir
07/07/2007 12:34 pm
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GO
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 Posted 07/07/2007  12:30 pm  Show Profile   Check GO's eBay Listings Bookmark this reply Add GO to your friends list Get a Link to this Reply
Silver and other Bullion metals are measured in Troy Ounces. 12 Troy Ounces = 1 Troy Pound. 1 Troy Ounce = 31.1034768 grams

Kinda weird at first to get used to. I have formulas all typed up but here's a good link I think that lists most of them

http://www.goldcalculator.com/index...page0033.htm
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coinheir
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 Posted 07/07/2007  12:35 pm  Show Profile   Bookmark this reply Add coinheir to your friends list Get a Link to this Reply
Wow! That was FAST!

Thanks so much.
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Always Write
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 Posted 07/07/2007  2:19 pm  Show Profile   Bookmark this reply Add Always Write to your friends list Get a Link to this Reply
Yes, bullion is measured in troy ounces, about 31.1 grams. And yes, if your coin is sterling, you have to multiply the total weight by 92.5% to get the silver weight.
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All Forums Category: General Numismatic Forums Forum: Tokens, Medals, Challenge Coins, and other Exonumia



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