When buying or selling precious metals, it’s important to know that an ‘ounce’ refers to a troy ounce, not a standard ounce. A troy ounce, the measurement used exclusively for precious metals, weighs about 31.1 grams, compared to the 28.35 grams of a standard ounce (or avoirdupois ounce) used for everyday goods. This difference in weight directly affects precious metal pricing, as a heavier troy ounce represents greater value.

To learn more, check out our Investing Guide article “What Is A Troy Ounce?“.