This designation came from ancient Rome. This was the name of the measure of weight, which was equal to one twelfth of a libra. A libra is equal to 327.45 grams, so an ounce weighs 28.34 grams. The empire of the ancient Romans covered the entire known world at that time. And through the exchange of goods, cultural influence, especially elements of trade, which included measures of weight, spread throughout Eurasia. From the Roman Empire, the term spread throughout the world. Now an ounce stands for:
- A measure of weight.
- A measure of volume.
- Area measure.
- Monetary units of some countries.
- Parts of an inheritance.
One ounce is how many grams? Answer: An ancient Roman ounce is 28.34 grams.
All this is somehow connected with the division of the whole into twelve parts.
An ounce, how many grams does it weigh?
But the days of Ancient Rome are long gone. Therefore, people meet discrepancies in the interpretation of the concept of "ounce"
- An ounce of avoirdupois is 28.35 g - almost the same weight that was adopted in the Roman Empire.
- A troy ounce is 31.1 g. Gold is measured in such units.
- The apothecary ounce is now obsolete and, depending on the country and application, ranged from 25 to 35 g.
- In the Netherlands, an ounce is currently defined as 100 grams of weight.
So you can understand what kind of ounce we are talking about only from the context. Often in various culinary and pharmacy recipes, an ounce meant something approximate, like a tablespoon in Russia: one pours incomplete, the other - with a slide, the third shakes everything off at the level of the edge of the spoon.
An ounce is how many grams and how can this knowledge be applied?
The first question was answered a little earlier, but what about the second? Despite the old-fashioned sound, the ounce is actively used. This is a verified and documented in a single measurement system - SI - a measure of weight. Where is the ounce used?
- In the measurement of precious metals. On the stock exchanges of European countries: prices for gold, silver, platinum are indicated per ounce of the substance.
- In the US and UK, bulk and viscous products are sold and often measured in ounces, as well as distances in miles and volume in gallons.
If you encounter this term in the text, do not be alarmed. Read carefully which ounce is meant. Check what it is about and be able to imagine the weight of the goods or substances described.
When buying or selling precious metals, one often comes across an unfamiliar unit of measurement - an ounce. It is much easier and clearer for us, who are used to using the metric system in everyday life, to measure weight in grams. However, in international practice, this is the standard for determining the value of precious metals. The answer to the question: 1 ounce, how many grams, is not as simple as it might seem at first glance.
Translation problems
Translation problems arise due to the presence of different names depending on the scope of use and the country where it is used. Adding to the confusion is the fact that some states, such as the United States, still do not use the metric system, preferring the traditional one.
- Averdupois (oz or oz at) - 28.35 g, used by the United States as a measure of weight.
- Fluid ounce (fl oz) - 29.573531 ml, used to determine the volume of liquid.
- Troy ounce (toz or ozt) - 31.1034768 g, all over the world this value is used to measure the weight of precious metals.
Troy ounce
The troy ounce is a common measure for precious metals.
Simplified meaning for translation: 1 ozt - 31.1035 grams.
It should be noted that in international trade this unit is used only to determine the mass of pure metals of the highest standard.
In the world currency markets, the XAU index is used to indicate the rate of 999.9 gold. Mints in different countries mint coins weighing 31.1 g. Many, both old and modern money made of gold and silver, have this denomination.
origin of name
Uncia- Latin term means 1/12 part. This concept came to us from Ancient Rome, but the troy ounce appeared as a measure of weight much later. This name has nothing to do with ancient Troy and comes from the name of the French city Troyes(Troyes), province of Champagne.
In the Middle Ages, famous champagne fairs were held here, which brought together merchants from different countries. The presence of various measures has led to the need to apply some unifying value.
This unit was the troy pound and its 1/12 part - the troy ounce. In the 19th century, Great Britain became the center of world trade. Which inherited and finally fixed the application of this measure as the main one in the international trade in precious metals.
Using recalculation in practice
The need to convert ounce-gram arises, in most cases, when trying to calculate, or silver per gram in national currency, for example, in rubles, today. The calculation algorithm is quite complex and requires knowledge of not only the cost of the metal in dollars per ounce, but also the currency quotes of the ruble/dollar. It looks like this:
the price of gold (dollars/ozt) divided by 31.1035 and multiplied by the dollar/ruble rate, we get the price of gold in rubles/g.
There is a calculator for calculating the cost of gold, which makes calculations according to the data of the Central Bank, which greatly simplifies and speeds up obtaining the desired result.
On the Internet you can find a large number of unit converters, when using such programs to convert the weight of precious metals, it is important to remember that you need a troy ounce, and not any other value.
The word ounce from the Latin "uncia" originated in ancient Rome. The inhabitants used huge bronze coins as money, having previously cut them into pieces. Thus, one twelfth of this coin became known as an ounce and had a weight of 27.288 grams.
Collectible one ounce coin
Naturally, this is different from the weight value of the modern ounce. After a short time, it became very common as a weight unit throughout Europe. Subsequently, many countries of the world began to use the metric system in measuring weight. But the ounce is the oldest unit still in use in jewelry and banking.
History of occurrence
Since the 13th century, 1 ounce has been equal to 1/16 of a pound. As a rule, when it comes to the concept of an ounce of gold, as a rule, they mean a troy. The history of its origin is interesting. In the French city of Troyes, which is located in the province of Champagne, in the 12-13th century, world-famous fairs were held, where, due to the need to exchange money (there were a lot of types, since merchants from all over the world came there), it began to be developed single standard measurement system.
It was based on the French livre, which was equal to a troy pound of silver. When exchanging precious metals, gold was measured in troy ounces. Since then, it has become a measure that determines the weight of precious metals in many modern states. A weight equal to a twelfth of a troy pound is the weight of an ounce. The troy pound, or otherwise the gold coin pound, existed as the main unit of weight in England from 1824 to 1858 and was equal to 373.2417 grams. Thus, one troy ounce of gold in grams has a weight of 31.1035 grams.
Troyes city in France.
Price
Many are interested in the gold rate, or?
Worldwide, the yellow metal has a value expressed in United States dollars per ounce. Despite the fact that the metric system is more common in our time, an ounce of gold is a symbol of centuries of tradition, and its price is determined by the standard of quality and purity.
The London fixing, which is held by the main players in the precious metals market (they are representatives of the five largest world-class banks), sets how much 1 ounce of gold will cost.
The fixed price is set twice a day: 10:30 and 15:00 London time or 13:30 and 18:00 Moscow time. Thus, the value of the precious metal in troy ounces is constantly changing.
In recent years, the price of the yellow metal has risen from $520 to $1,250. According to many financial analysts, we should expect a constant but smooth increase in value. And this gives a good reason to invest in its purchase in order to protect them from inflation. Today, for 1 ounce of the precious metal, you can buy the same benefits as two centuries ago. For example, in the 18th century, one ounce of gold allowed you to buy an excellent men's suit and now its price is at the same level.
London fixing online
Units of measurement in different countries
Shekel. It is of Hebrew origin. It is not used often and is equal to 11.4 grams. One fourth of a shekel is 2.85 grams.
Some countries use their own units of measure.
For example, the unit of tola, equal to 11.6638 grams, is in circulation in Luxembourg. She is measured when buying or selling scrap gold and its other types.
One bass in Taiwan is 15.244 grams. In Thailand, the tael is equal to 37.5 grams, and in China and Hong Kong, one tael weighs a little less - 37.429 grams.
Varieties
Usually, when making a transaction for the purchase or sale of an item, a person asks not only what an ounce of gold is and what its price in grams is, but is also interested in the breakdown and weight of the item. You also need to know that in addition to the Troy, several more varieties are in circulation:
- The pharmacy, in which 1 ounce is 29.860 grams, was distributed in Russia until the end of 1930;
- Maria Theresa, containing 31.1025 grams;
- Ancient Roman, the most common in the history of the ancient world, and when asked how much 1 ounce is a gram, at that time they said that 27.3.
Historically, many coins weigh exactly one ounce.
Thus, how much a troy ounce of gold weighs, you need to know before you buy or sell an ingot or coins, scrap.
Gold reserves are one of the indicators of the country's well-being, a symbolic guarantee of its economic and social well-being. Today, about 90% of the world's gold reserves are stored in the form of gold bars in special vaults of states. The United States, Italy, France, Germany and China have the largest reserves of monetary gold. The United States remains the undisputed leader in terms of gold bullion reserves. However, gold today is also the property of private individuals. But who is the richest owner is not known for certain. As a version, this is one of the royal families of the East.
Why do we need gold reserves?
It is natural to ask why gold reserves are so important? Why did this precious metal become the cornerstone in the world economic system being built?
First, the presence of significant gold reserves allows the state to maintain economic independence from other currencies. Secondly, gold is still one of the safest ways to invest. In the last decade alone, the value of this yellow metal has more than quintupled. In the event of an unstable economic situation in the domestic market of the state, threatening inflation of the national currency, gold will be able to perform the functions of some kind of monetary equivalent, recognized throughout the world.
Investing in gold: profitable or not?
In 2005, Rick Munarits, one of the co-owners of the Internet service, was faced with a dilemma: what is more reliable to invest his money in the Google search engine or gold. At that time, their value on the exchange was the same. But in 2008, the crisis hit and Google closed at $307 per share, and gold at $866 per ounce.
To the origins of history
But what is such a strange measure - a troy ounce of gold? Why is the universal weight unit, grams, not used when weighing gold? And what is the ratio of these two units of measurement. How much is a troy ounce in grams? Let's try to understand the essence of this issue.
An ounce is nothing more than the twelfth of the bronze ancient Roman coin "asses". The Romans used large bronze coins cut into pieces as money. Over time, this monetary unit began to be used as a measure of weight. She owes this to such a pedantic attitude of the Romans to coinage. There was no reason to doubt their observance of coinage standards. How much does a troy ounce weigh in grams? You will learn about this later. First, a little history.
Immediately make a reservation, the ancient city of Troy has nothing to do with this unit of measurement. The troy ounce owes its name to the small town of Troyes. In the twelfth century, fairs were held here, in which merchants from all over the world participated. That is why there was a need for a single universal measure. The variety of already existing national currencies somewhat complicated the establishment of trade relations. Preference was given to the French livre. It consisted of a troy pound of silver, which, in turn, was divided into twelve troy ounces. Since then, the troy ounce has gained popularity and successfully adapted to the realities of the times. Especially for measuring the weight of expensive and valuable materials. Troy ounce - how many grams? It's time to find out about it.
How much does an ounce weigh?
How much does a troy ounce of gold weigh? In grams in ancient Rome, its weight was 27.288. After the disappearance of the Roman Empire, there was no single standard for minting bronze coins, and therefore the ounce lost its infallibility somewhat. Its weight in different areas began to differ markedly. And this, in turn, became the subject of a dispute between the buyer and the seller. The introduction of the metric system of units made it possible to determine how much a troy ounce of gold weighs in grams. Today one ounce weighs 31.1034768 grams.
Purity standards or how many precious metals are in valuable coins?
Today, the ounce is the main unit of trade in precious metals: it measures the weight of investment or weight coins (gold, silver, palladium and platinum) issued by central banks.
What is the current ratio of "USD - troy ounce"? For example, in the USA coins were made of gold weighing 1/10 of a troy ounce, corresponding to a face value of 5 dollars; 25 dollars corresponded to a coin weighing ½ troy ounce, 50 dollars - a coin weighing 1 ounce. The classic version is undoubtedly the American Eagles - they contain one ounce of high-grade platinum.
In Russia, the weight of coins made of precious metals is indicated in grams, but the amount of precious metal is indicated in fractions of a troy ounce. The weight of the gold coin "George the Victorious" with a face value of 50 rubles, issued by the Bank of Russia, has a weight of -7.89 grams, the weight of pure gold is at least 7.78 grams, which is ¼ troy ounce.
How much is an ounce?
What is a troy ounce? How many grams is in it? We have already dealt with this. It remains to find out how much an ounce costs? How is the price of gold formed? There is a reliable and time-tested practice of fixing gold. This tradition began in September 1919 in London. On September 3, 1939, due to the cessation of gold trading, the fixing procedure was terminated. London trading resumed on March 22, 1954 and has not changed significantly since then. Bidders within a minute are ready to answer the question of whether the price of gold is rising or falling. If the number of buyers exceeds the number of sellers, the initial price of gold rises. This procedure is carried out in London at the LBM auction twice a day: at 10.30 am and 3 pm. It is believed that the level of prices for precious metals set by the London fixing is the fairest.
How much gold today?
The dynamics of changes in the price of gold is of great interest not only to those who have chosen it as the object of their investments. This is a kind of indicator of the state of the world economy. So, let's analyze how the price of gold has changed in recent years. In 1996, about 400 dollars were given for one ounce of gold, already in 2010-2011 the price per ounce of gold rose to the level of 1300 dollars. In this time interval, the increase was almost 30%. According to analysts, 2015 was not so prosperous for the precious metals market. The price of one ounce dropped from $1,000 in 2014 to $840 in 2015. And in 2016 there are quite convincing prerequisites for the growth of prices for the yellow metal.
Finally
If you have finally decided to invest in physical gold, the ideal solution would be to purchase gold bars in one of the state banking institutions. In case of making a transaction on the Internet, be vigilant. The fact is that there are two varieties of the ounce: the troy ounce and the avoirdupois ounce. The substitution of concepts has already played a cruel joke with more than one entrepreneur. A troy ounce of gold in grams is almost 9.7% heavier. Good luck with your investment.
Very often there is such a problem as the need to convert ounces to ml: we are talking about fluid ounces. Why might it be necessary to convert one value to another, and what are they? Is such a unit of measure still in use, and where did it come from?
The fluid ounce is a unit of volume commonly used to measure liquids. Approximately it is equivalent to 30 milliliters. Many definitions of this unit of measurement have been used throughout history, but in the modern world only two remain in common use, in England and the United States.
Volume matching
In the UK, a fluid ounce is 1/20 of a pint, or 1/160 of a gallon. If you convert such an ounce to milliliters, then it will be 28.4. An ounce of liquid in the United States is equal to 1/16 of a pint and 1/128 of a gallon. There are many different ounces, most of which are a unit of mass, the fluid ounce is different from them. Sometimes the specification of which ounce is meant is omitted, and it is common to find the name simply "ounce" in relation to any of these quantities. What is at stake is usually clear from the context.
Story
Initially, a fluid ounce was called the volume that one weight ounce of a substance occupies. In England, ounces were used to measure the volume of wine, and in Scotland, water. Therefore, the volume of all ounces was different, depending on the density of the liquid. The situation was further complicated by the practice of allowances, when in the Middle Ages a unit of measurement was not always equal to the sum of its parts.
In 1824, the British Parliament defined a gallon as the volume of 10 pounds of water. A gallon was divided into four quarts, a quart into two pints, a pint into four jills, and a jill into five ounces. Thus, 1 gallon became equal to 160 ounces. And for an ounce, the volume of liquid was taken, which was occupied by 1 ounce of avoirdupois. These ratios are now in force, except that 1 gallon has been revised to equal 4.54609 liters, and accordingly 1 fluid ounce of the British Empire has become equal to 28.4130625 milliliters.
In the US, the ounce was also based on the gallon, which in turn is derived from the wine gallon. The wine gallon was equal to 231 cubic inches and existed in England until 1824. When the international inch was adopted, the fluid ounce in the United States changed accordingly and became equal to 29.5735295625 milliliters, which is approximately 4% more than the fluid ounce of the United Kingdom.
Fluid ounce
The inscription oz is used abroad as a short designation for the ounce. You can meet her if you make purchases, for example, at online auctions. In ounces, any liquid goods will be measured: toilet water, perfumes, aromatic oils, rare liquid spices and more. Naturally, we are talking about buying goods from America and the UK, as well as countries that are members of the Commonwealth of Nations, such as Australia and Canada. It is worth noting that when buying goods from the USA, a simplified measure is used, in which case an ounce will be equal to 30 milliliters.
You may also need to convert ounces to milliliters when trying to use recipes for cooking various dishes. If you come across a cookbook from the UK or Australia, then you know how to convert ounces to milliliters, for example, 10 ounces will contain 300 milliliters. Sometimes the ounce and its fractions are indicated on measuring cups for liquids. Very often you can find such a designation of a measure of volume on children's dishes, for example, feeding bottles. A standard serving of 100 ml will correspond to a little over three ounces. This is possible because such goods are produced mainly for the whole world, but milliliters can also be seen on them at the same time.
Thus, there should be no problem with determining the number of milliliters in a fluid ounce. The main thing to remember is that there are several varieties of them, which can play a significant role when buying expensive goods. It is interesting that the metric system has already been introduced in the United States at the legislative level, but the Americans are so used to the existing one that it has not yet taken root.
Loading...