Gold Facts

Symbol=Au

Melting point= 1948 degrees Fahrenheit

Specific gravity is 19.3

Hardness=2.5 on Mohs scale

 

How Gold Is Measured -

 

Gold, Silver, and other precious metals are universally bought and sold in Troy ounces. A Troy ounce is heavier than a standard ounce as there are only 12 troy ounces in a pound. Troy ounces are usually subdivided into either Pennyweights, abbreviated (dwt), or Grams. Professional gold dealers prefer grams but pennyweights are preferred by gold prospectors.

In the pennyweight system each Troy Ounce is divided into 20 units called Pennyweights and each pennyweight is further divided into 24 grains. Therefore one troy ounce is equal to 480 grains. This is the same system used in measuring gunpowder and probably accounts for the popularity of the pennyweight system. Most of the early prospectors had no idea what a gram was but they all had a gun powder scale that was calibrated in grains. The metric system is easy to use because all you need to remember is that one troy ounce is 31.1 grams. Since this is based on the metric system grams are simply divided into 1/10th or 1/100th units. When you are buying or selling gold you must be careful when talking to someone about a quantity of gold. Make sure that the ounces you are talking about are the same ounces you are thinking about. Here are a few conversions to help you keep this straight.

 

One Troy lb (pound)=12 troy ounces

One troy oz=20 pennyweight (dwt)

One pennyweight = 24 grains

One troy oz=480 grains

One troy oz=31.1 grams

 

Carat and Karat

 

Carat abbreviated “ct.” and spelled with a “c” is a

measure of weight used for gemstones. One carat

is equal to 1/5 of a gram (200 milligrams). Stones

are measured to the nearest hundredth of a carat. A

hundreth of a carat is also called a point. Thus a .10

carat stone can be called either 10 points, or 1/10 of

a carat. Small stones like .05, and .10ct are most

often referred to by point designations.

Karat with a “K” is a measure of the purity of a

gold alloy. Pure gold is 24 karat and 12 karat gold

is 50% gold.

 

24K 100% gold

18k 75% gold

14K 59% gold

12k 50% gold

 

Tips on digital scales

 

Digital scales are widely available today that are

inexpensive and very accurate. These scales can

be easily adjusted to weigh in several formats

including grams and pennyweights. If you are

using one of these scales you need to be sure that

the scale is set to use the format you prefer. Areas

of potential confusion include the way some

scales abbreviate grams and grains, and the

similarity of troy and regular ounces. Be sure you

check to see that you and your scale are on the

same page.

 

If you are using the gram format it is easy to do a

quick check of the format selection and the

calibration of the scale by weighing a $1.00 bill

or a nickel. The $1.00 bill should weigh almost

exactly one gram and the nickel should weigh

almost exactly five grams.