A troy ounce coin is a coin, typically made from precious metals like silver or gold, that is measured in troy ounces. The troy ounce is a unit of weight specifically used in the precious metals industry and is slightly heavier than a standard (avoirdupois) ounce. One troy ounce equals 31.1034768 grams.
- Purity: Troy ounce coins are typically made from highly pure precious metals. For example, American Silver Eagles contain 1 troy ounce of .999 pure silver. Canadian Silver Maple Leaf coins are even purer, containing 1 troy ounce of .9999 pure silver, [according to JM Bullion].
- Standardization: The troy ounce is the universally accepted standard for weighing precious metals, ensuring consistent pricing and valuation across the global market. This standardization helps prevent discrepancies and facilitates fair transactions.
- Investment and Collectible Value: Troy ounce coins are popular among both investors and collectors. They offer a way to invest in physical precious metals and can also have numismatic value due to their design, rarity, and historical significance.
- American Silver Eagle.
- Canadian Gold Maple Leaf.
- Silver Britannia.
- Silver Kangaroo.
Understanding the troy ounce is crucial for anyone involved in buying, selling, or investing in precious metals, as it’s the standard for accurate valuation and fair transactions.
Which is heavier, 1 oz or 1 troy ounce?
What Is the Difference Between an Ounce and a Troy Ounce? A single troy ounce has 2.75 grams more than a regular avoirdupois ounce. If this was placed on a regular scale, it would be around 10% heavier than the standard unit of measure. In exact terms, one ounce is 28.35 grams whereas a troy ounce is 31.1 grams.