Beyond just being shiny and expensive, gold is a treasure that has been valued for generations. It is one of the most popular precious metals for investment. The higher the demand, the greater the possibility of counterfeiting in the mixture. However, have you ever wondered how this precious metal is measured? Is the measured gold pure or not? We are aware that standard measurement units are needed, but did you know that there are numerous units—instead of just one or two—to measure gold? Particularly for inexperienced investors in gold bullion, this can be confusing. Therefore, you’ll need to first become familiar with gold measurement systems, its purity, and various units to determine whether you’re getting a good deal on gold. For more information, continue reading!
Different Ways To Measure the Weight of Gold
Accurate gold weight measurement is essential for both personal and commercial dealings. Hence, for centuries, many measurements have been tried and tested and are still used to measure this precious metal, all of which are as follows:
Tola
The ‘Tola’ is a traditional weight-measuring unit that was first used in India in 1833. Its goal was to make it possible to exchange valuable metals and grain fairly. Up until the middle of the 20th century, the traditional Tola was widely used; however, its transformation occurred when nations like India and England adopted the metric system. The weight of the Tola is now expressed in grams. In the current metric system, 1 tola equals 11.6638 grams. Moreover, to facilitate the transition to the metric system, it has been rounded up to 10 grams in India. Use tola to gram conversion tool for quick conversions in grams
Troy Ounce
While a troy ounce is used to measure the precious metal in the gold market, a standard ounce is usually used to weigh gold bullion. It is believed that the troy ounce got its name from the market city of Troye in France. This small trading market was frequented by traders from all over the area who came to exchange gold and other precious metals. Troy ounce serves to evaluate the weight of gold bullion. You do not have to compare troy ounce weighting to standard ounce weighting if you choose to measure in troy ounces. Troy ounces weigh about the same as a standard ounce. Each troy ounce contains 1.09714 ounces.
Pennyweight
These days, pennyweights are not that common. But it used to be one of the main methods that collectors used to measure gold. However, most traders stopped using pennyweights as the troy ounce became the standard weighing unit for precious metals. Yet, pennyweights are still occasionally used, particularly for gold jewelry. The weight of one pennyweight is 1.55517 grams.
Grams
Grams is the standard unit of mass for weight measurement it is also used for measuring gold, by standard all units are converted in gram for measuring gold.
How to know if your gold is pure?
Since pure gold is very soft and malleable, it is typically alloyed—mixed with—a harder metal for most practical purposes. Most often, items labeled as gold are alloys made of gold rather than pure gold. Hence, Carats, or fineness, are commonly used to measure the purity of metal and are frequently expressed as a percentage.
In 24 parts, the carat represents the proportion of pure gold to other metals. Thus, 24-carat gold is pure gold. A karat is equivalent to 1/24 of a unit of gold. Put another way, it represents 4.1667% of the total purity weight. Additionally, the BIS identification for gold hallmarks can be used to determine the purity of gold.
Conclusion
To sum up, the measurement of gold includes both its weight, expressed in troy ounces or grams, and its purity, which is established by the carat system or fineness. Therefore, assessing the worth and use of gold, as a treasured piece of jewelry or an investment, requires an understanding of these measurements.
