Chris Telden enjoys to teach others just how to apply an easy mathematical to work in real-life situations. Mathematics is power!
Here room the an easy instructions for just how to calculate, in pennyweight, the price of her old yellow jewelry, miscellaneous gold scrap, or any kind of other yellow items the you hope to sell, even if it is in 10k, 14k, 18k, or various other karat weights. I will certainly walk friend through five easy measures teaching you exactly how to:Find the existing price of gold in trojan ounces.Convert trojan ounces to pennyweight.Weigh the gold by karat units in grams, trojan ounces, or pennyweight.Factor in the purity (in various other words, the amount of yes, really precious metal versus basic metal) that the gold alloy.Calculate the worth of the yellow in pennyweight. (I will be using U.S. Dollars, but it's basic to convert the amount come a different currency.)
For her convenience, friend can additionally find here a quick reference because that pennyweight conversion come ounces, trojan ounces, grams and grains.
You are watching: How many pennyweight in a ounce
When Is Pennyweight Used?
Though trojan ounces have come to be the traditional weight for reporting gold prices, pennyweight is commonly used to measure:dental gold such together that offered in crowns and also inlaysgold jewelry
The abbreviation because that pennyweight, dwt, derives native denarius, the Latin word because that penny.
1. Pennyweight Conversion: find Out the Price of gold per trojan Ounce
Visit NASDAQ to discover today's yellow price per troy ounce, additionally called the spot price of gold.
As that April 2020, the price of yellow is end $1,700, but other time it may be listed below $1,000 or even much higher.
But because that now, as an example, let's use a nice round number and say the existing gold price is $1,000 exactly.
Basic Pennyweight Conversion to Gram, Grain, and Troy Ounces
One pennyweight that gold, additionally called 1 dwt, equals:1.555 grams24 grains.05 troy ounces.055 ounces (standard)
For turning back conversion:1 gram = .643 dwt1 serial = .042 dwt1 troy ounce = 20 dwt1 standard avoirdupois ounce = 18.23 dwt
2. Transform From trojan Ounces
Use the switch metrics in this post under the section Basic Pennyweight Conversion come Gram, Grain, and also Troy Ounces to transform troy ounces to pennyweight. This will certainly yield the yellow price every pennyweight.
This is how to do it:
We see that one troy ounce equals 20 pennyweight of gold.
So using our example, since 1 trojan ounce has actually a existing value the $1,000, then 20 pennyweight of gold is precious $1,000. Yet we want to understand the value of 1 dwt that gold, not 20.
So we division $1,000 by 20 to calculation the gold price per pennyweight.
In this example, the gold price every pennyweight is $50 exactly.
Now it's time to calculate the value of the gold - in other words, what her actual gold scrap or various other items space worth.
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3. Sweet the gold Scrap
Sort the gold jewelry, dentist gold, yellow bullion, yellow coins, or everything other item you have into separate units by karat - 10k, 12k, 14k, 18k, 24k. Leave out any kind of items that are gold plated.