{"id":7887,"date":"2025-01-24T15:18:58","date_gmt":"2025-01-24T14:18:58","guid":{"rendered":"https:\/\/metalsradar.com\/?post_type=blog&#038;p=7887"},"modified":"2026-10-03T07:10:36","modified_gmt":"2026-10-03T06:10:36","slug":"troy-ounce-definition-your-comprehensive-guide","status":"publish","type":"blog","link":"https:\/\/metalsradar.com\/au\/blog\/troy-ounce-definition-your-comprehensive-guide\/","title":{"rendered":"Troy Ounce: Definition, History and Conversion Table"},"content":{"rendered":"<div class=\"mrf-takeaways\">\n<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>One troy ounce is exactly 31.1034768 grams.<\/strong> Most people round it to 31.1 g. Dealers and mints use the exact figure.<\/li>\n<li><strong>It is heavier than a kitchen ounce:<\/strong> a regular (avoirdupois) ounce is 28.35 g, so a troy ounce is about 9.7% heavier.<\/li>\n<li><strong>It is legal for trade in Australia:<\/strong> the National Measurement Regulations allow the troy ounce for weighing and trading precious metals.<\/li>\n<li><strong>A 1 kg bar holds 32.15 troy ounces.<\/strong> That number turns any price per ounce into a price per kilo.<\/li>\n<li><strong>On 2 October 2026,<\/strong> one troy ounce of gold was worth A$5,966.56 at spot and one troy ounce of silver A$87.19.<\/li>\n<\/ul>\n<\/div>\n<p>A troy ounce is the unit used to weigh and price gold, silver, platinum and palladium around the world. When you see the gold price quoted on the news, or a 1 oz Kangaroo coin on a dealer&#8217;s website, the &#8220;ounce&#8221; is always a troy ounce. It is not the same ounce you find in an old recipe book. The difference is small on paper but real on your invoice.<\/p>\n<p>In this guide, we explain what a troy ounce is, how it differs from a standard ounce, where the name comes from and how to convert troy ounces to grams and kilograms. You will also find conversion tables with current AUD values from our <a href=\"\/au\/\">precious metals price comparison<\/a> and a short FAQ at the end.<\/p>\n<h2>What Is a Troy Ounce?<\/h2>\n<p>A troy ounce (symbol oz t, ozt or, in Australian law, oz tr) is a unit of mass equal to exactly 31.1034768 grams, usually rounded to 31.1 grams or 31.103 grams. It belongs to the troy weight system, an old set of units that survives today almost only in the precious metals trade.<\/p>\n<p>Why does it still matter? Because the global market runs on it. Prices in London, New York and Shanghai, the spot price you see on our <a href=\"\/au\/charts\/gold-price\/\">gold price chart<\/a> and the weight stamped on most bullion coins are all in troy ounces.<\/p>\n<h3>The exact definition<\/h3>\n<p>The troy ounce is defined through the international pound. One avoirdupois pound is exactly 0.45359237 kg and contains 7,000 grains. One troy ounce contains 480 grains. So:<\/p>\n<p><strong>1 troy ounce = 480 \u00d7 0.45359237 \/ 7,000 kg = 0.0311034768 kg = 31.1034768 g<\/strong><\/p>\n<p>This is the same formula written into Australia&#8217;s National Measurement Regulations, which list the troy ounce as an additional legal unit for &#8220;ascertaining the mass of precious metals&#8221;. In other words, the troy ounce is a legal unit for weighing precious metals, not for general goods.<\/p>\n<h3>Is the troy ounce legal for trade in Australia?<\/h3>\n<p>Yes, it is. Australia uses metric units to measure almost everything, but the regulations make a specific exception for precious metals. A dealer can legally sell you a coin described as &#8220;1 oz&#8221; as long as it contains one troy ounce of metal. The Department of Industry, Science and Resources also publishes trade measurement guidance for <a href=\"https:\/\/industry.gov.au\/regulations-and-standards\/buying-and-selling-goods-and-services-by-weights-and-other-measures\/precious-metals-and-stones\" rel=\"noopener\" target=\"_blank\">precious metals and stones<\/a>.<\/p>\n<h2>Troy Ounce vs Ounce: What Is the Difference?<\/h2>\n<p>The everyday ounce is the avoirdupois ounce. It equals 28.349523125 grams and is used for food, parcels and other general goods in countries that still use imperial units. The troy ounce is about 2.75 grams heavier: a troy ounce weighs 31.1 grams, while an avoirdupois ounce weighs 28.35 grams.<\/p>\n<p>That is why the bullion trade rarely spells out &#8220;troy&#8221;. The Perth Mint gives a simple rule of thumb:<\/p>\n<blockquote>\n<p>\u201cSo when you see \u2018ounce\u2019 and \u2018oz\u2019 used in the context of precious metals, assume the reference is to troy ounces.\u201d<\/p>\n<p><cite>The Perth Mint, investor guide \u201cTroy ounce vs ounce: What\u2019s the difference?\u201d, December 2020<\/cite><\/p><\/blockquote>\n<p>Non-precious metals do not use troy units at all. Copper, for example, is priced per tonne on the London Metal Exchange and per avoirdupois pound on the COMEX exchange in New York.<\/p>\n<figure class=\"mrf-table\">\n<table>\n<thead>\n<tr>\n<th>Unit<\/th>\n<th>Grams<\/th>\n<th>Grains<\/th>\n<th>Used for<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Troy ounce (oz t)<\/td>\n<td>31.1034768<\/td>\n<td>480<\/td>\n<td>Gold, silver, platinum, palladium<\/td>\n<\/tr>\n<tr>\n<td>Avoirdupois ounce (oz)<\/td>\n<td>28.349523125<\/td>\n<td>437.5<\/td>\n<td>Food, general goods<\/td>\n<\/tr>\n<tr>\n<td>Troy pound (12 oz t)<\/td>\n<td>373.2417216<\/td>\n<td>5,760<\/td>\n<td>Historical, rarely used today<\/td>\n<\/tr>\n<tr>\n<td>Avoirdupois pound (16 oz)<\/td>\n<td>453.59237<\/td>\n<td>7,000<\/td>\n<td>General goods<\/td>\n<\/tr>\n<\/tbody>\n<\/table><figcaption>Values derived from the international pound (0.45359237 kg = 7,000 grains). Source: National Measurement Regulations 1999 (Cth), LBMA.<\/figcaption><\/figure>\n<p>Here is the twist that confuses many people:<\/p>\n<ul>\n<li><strong>A troy ounce is heavier<\/strong> than an avoirdupois ounce (31.10 g vs 28.35 g).<\/li>\n<li><strong>A troy pound is lighter<\/strong> than an avoirdupois pound (373.24 g vs 453.59 g), because it has only 12 ounces instead of 16.<\/li>\n<\/ul>\n<figure class=\"mrf-chart\">\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 720 250\" role=\"img\" aria-labelledby=\"tc2\" style=\"width:100%;height:auto;font-family:inherit\">\n<title id=\"tc2\">Weight in grams of the troy ounce, avoirdupois ounce, troy pound and avoirdupois pound<\/title>\n<text x=\"200\" y=\"40\" text-anchor=\"end\" font-size=\"13\" fill=\"#243044\">Avoirdupois ounce<\/text><rect x=\"210\" y=\"26\" width=\"25.6\" height=\"22\" rx=\"3\" fill=\"#8a94a6\"\/><text x=\"243\" y=\"42\" font-size=\"13\" font-weight=\"600\" fill=\"#243044\">28.35 g<\/text>\n<text x=\"200\" y=\"84\" text-anchor=\"end\" font-size=\"13\" fill=\"#243044\">Troy ounce<\/text><rect x=\"210\" y=\"70\" width=\"28.1\" height=\"22\" rx=\"3\" fill=\"#c9a227\"\/><text x=\"246\" y=\"86\" font-size=\"13\" font-weight=\"600\" fill=\"#243044\">31.10 g<\/text>\n<text x=\"200\" y=\"128\" text-anchor=\"end\" font-size=\"13\" fill=\"#243044\">Troy pound (12 oz t)<\/text><rect x=\"210\" y=\"114\" width=\"337.4\" height=\"22\" rx=\"3\" fill=\"#c9a227\"\/><text x=\"555\" y=\"130\" font-size=\"13\" font-weight=\"600\" fill=\"#243044\">373.24 g<\/text>\n<text x=\"200\" y=\"172\" text-anchor=\"end\" font-size=\"13\" fill=\"#243044\">Avoirdupois pound (16 oz)<\/text><rect x=\"210\" y=\"158\" width=\"410.0\" height=\"22\" rx=\"3\" fill=\"#8a94a6\"\/><text x=\"628\" y=\"174\" font-size=\"13\" font-weight=\"600\" fill=\"#243044\">453.59 g<\/text>\n<rect x=\"210\" y=\"208\" width=\"12\" height=\"12\" rx=\"2\" fill=\"#c9a227\"\/><text x=\"228\" y=\"219\" font-size=\"12\" fill=\"#243044\">Troy system (precious metals)<\/text><rect x=\"440\" y=\"208\" width=\"12\" height=\"12\" rx=\"2\" fill=\"#8a94a6\"\/><text x=\"458\" y=\"219\" font-size=\"12\" fill=\"#243044\">Avoirdupois (everyday goods)<\/text>\n<\/svg><figcaption>The troy ounce is heavier than a regular ounce, but the troy pound is lighter than a regular pound. Bar lengths are to scale. Source: unit definitions in the National Measurement Regulations 1999 (Cth).<\/figcaption><\/figure>\n<p>Does the difference really matter? On one ounce of gold, yes. If a seller quoted you a price per avoirdupois ounce, you would get 2.75 g less gold, which was worth about A$528 on 2 October 2026.<\/p>\n<h2>Where Does the Name &#8220;Troy&#8221; Come From?<\/h2>\n<p>The most widely accepted explanation points to Troyes, a market town south-east of Paris. In the medieval period, Troyes hosted one of the Champagne Fairs, where merchants from across Europe traded cloth, spices and metals. A reliable common weight helped them trade fairly, and the weights used there seem to have spread with the merchants.<\/p>\n<p><!-- FOTO: troyes-champagne-old-town.webp | alt: Half-timbered houses in Troyes, France | podpis: Troyes, the Champagne fair town that most likely gave the troy ounce its name. --><\/p>\n<p>Here is a short timeline of what is well documented:<\/p>\n<ul>\n<li><strong>12th century or earlier:<\/strong> troy weights are used for precious metals in England, according to the London Bullion Market Association.<\/li>\n<li><strong>1527:<\/strong> under Henry VIII, the verdict of the Trial of the Pyx (the annual test of the coinage) ruled that English weights for gold and silver would move from the old Tower pound to the troy pound of 12 troy ounces.<\/li>\n<li><strong>Today:<\/strong> the troy ounce is the reference unit of the global bullion market. The LBMA explains this history on its page about <a href=\"https:\/\/www.lbma.org.uk\/wonders-of-gold\/items\/the-troy-ounce\" rel=\"noopener\" target=\"_blank\">the troy ounce<\/a>.<\/li>\n<\/ul>\n<p>You may read elsewhere that the name comes from the ancient city of Troy. There is no good evidence for that. The Troyes link is the explanation used by the LBMA and most historians of weights and measures.<\/p>\n<h2>The Troy Weight System Today<\/h2>\n<p>The full troy system has more units than the ounce. Two of them are still in daily use in parts of the jewellery and refining trade:<\/p>\n<figure class=\"mrf-table\">\n<table>\n<thead>\n<tr>\n<th>Unit<\/th>\n<th>Equals<\/th>\n<th>Grams<\/th>\n<th>Where you still see it<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Grain (gr)<\/td>\n<td>1\/480 troy ounce<\/td>\n<td>0.06479891<\/td>\n<td>Ammunition, some jewellery and pharmacy references<\/td>\n<\/tr>\n<tr>\n<td>Pennyweight (dwt)<\/td>\n<td>24 grains, 1\/20 troy ounce<\/td>\n<td>1.55517384<\/td>\n<td>Jewellery trade, scrap gold buyers in some countries<\/td>\n<\/tr>\n<tr>\n<td>Troy ounce (oz t)<\/td>\n<td>20 pennyweights<\/td>\n<td>31.1034768<\/td>\n<td>Bullion prices, coins, bars<\/td>\n<\/tr>\n<tr>\n<td>Troy pound<\/td>\n<td>12 troy ounces<\/td>\n<td>373.2417216<\/td>\n<td>Rarely used<\/td>\n<\/tr>\n<\/tbody>\n<\/table><figcaption>Source: LBMA (pennyweight and grain relationships); gram values calculated from the legal definition of the troy ounce.<\/figcaption><\/figure>\n<p>In Australia, most jewellers and gold buyers quote in grams. Bullion dealers usually quote in both: troy ounces for coins and smaller bars, grams and kilograms for other bars.<\/p>\n<h2>Troy Ounce Conversion Table<\/h2>\n<p>How many grams are in a troy ounce? There are 31.1034768 grams in one troy ounce. To convert, use these two formulas:<\/p>\n<ul>\n<li><strong>Grams = troy ounces \u00d7 31.1034768<\/strong><\/li>\n<li><strong>Troy ounces = grams \u00f7 31.1034768<\/strong> (or kilograms \u00d7 32.1507466)<\/li>\n<\/ul>\n<h3>Troy ounces to grams and kilograms<\/h3>\n<figure class=\"mrf-table\">\n<table>\n<thead>\n<tr>\n<th>Troy ounces<\/th>\n<th>Grams<\/th>\n<th>Kilograms<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1\/10 oz t<\/td>\n<td>3.110<\/td>\n<td>0.0031<\/td>\n<\/tr>\n<tr>\n<td>1\/4 oz t<\/td>\n<td>7.776<\/td>\n<td>0.0078<\/td>\n<\/tr>\n<tr>\n<td>1\/2 oz t<\/td>\n<td>15.552<\/td>\n<td>0.0156<\/td>\n<\/tr>\n<tr>\n<td>1 oz t<\/td>\n<td>31.103<\/td>\n<td>0.0311<\/td>\n<\/tr>\n<tr>\n<td>2 oz t<\/td>\n<td>62.207<\/td>\n<td>0.0622<\/td>\n<\/tr>\n<tr>\n<td>5 oz t<\/td>\n<td>155.517<\/td>\n<td>0.1555<\/td>\n<\/tr>\n<tr>\n<td>10 oz t<\/td>\n<td>311.035<\/td>\n<td>0.3110<\/td>\n<\/tr>\n<tr>\n<td>32.15 oz t<\/td>\n<td>1,000.000<\/td>\n<td>1.0000<\/td>\n<\/tr>\n<tr>\n<td>100 oz t<\/td>\n<td>3,110.348<\/td>\n<td>3.1103<\/td>\n<\/tr>\n<\/tbody>\n<\/table><figcaption>Calculated from 1 oz t = 31.1034768 g, rounded to three decimal places.<\/figcaption><\/figure>\n<h3>Common bullion sizes in troy ounces and AUD<\/h3>\n<p>Most Australian buyers think in grams for bars and in ounces for coins. This table shows both, together with the value of the pure metal at the spot price on 2 October 2026: A$5,966.56 per troy ounce of gold and A$87.19 per troy ounce of silver.<\/p>\n<figure class=\"mrf-table\">\n<table>\n<thead>\n<tr>\n<th>Size<\/th>\n<th>Grams<\/th>\n<th>Troy ounces<\/th>\n<th>Gold value at spot<\/th>\n<th>Silver value at spot<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1 g bar<\/td>\n<td>1<\/td>\n<td>0.0322<\/td>\n<td>A$191.83<\/td>\n<td>A$2.80<\/td>\n<\/tr>\n<tr>\n<td>1\/10 oz coin<\/td>\n<td>3.110<\/td>\n<td>0.1<\/td>\n<td>A$596.66<\/td>\n<td>A$8.72<\/td>\n<\/tr>\n<tr>\n<td>10 g bar<\/td>\n<td>10<\/td>\n<td>0.3215<\/td>\n<td>A$1,918.29<\/td>\n<td>A$28.03<\/td>\n<\/tr>\n<tr>\n<td>1\/2 oz coin<\/td>\n<td>15.552<\/td>\n<td>0.5<\/td>\n<td>A$2,983.28<\/td>\n<td>A$43.59<\/td>\n<\/tr>\n<tr>\n<td>20 g bar<\/td>\n<td>20<\/td>\n<td>0.6430<\/td>\n<td>A$3,836.59<\/td>\n<td>A$56.06<\/td>\n<\/tr>\n<tr>\n<td>1 oz coin or bar<\/td>\n<td>31.103<\/td>\n<td>1<\/td>\n<td>A$5,966.56<\/td>\n<td>A$87.19<\/td>\n<\/tr>\n<tr>\n<td>50 g bar<\/td>\n<td>50<\/td>\n<td>1.6075<\/td>\n<td>A$9,591.47<\/td>\n<td>A$140.16<\/td>\n<\/tr>\n<tr>\n<td>100 g bar<\/td>\n<td>100<\/td>\n<td>3.2151<\/td>\n<td>A$19,182.94<\/td>\n<td>A$280.32<\/td>\n<\/tr>\n<tr>\n<td>10 oz bar<\/td>\n<td>311.035<\/td>\n<td>10<\/td>\n<td>A$59,665.60<\/td>\n<td>A$871.90<\/td>\n<\/tr>\n<tr>\n<td>1 kg bar<\/td>\n<td>1,000<\/td>\n<td>32.1507<\/td>\n<td>A$191,829.36<\/td>\n<td>A$2,803.22<\/td>\n<\/tr>\n<\/tbody>\n<\/table><figcaption>Spot values only, without dealer premiums. Source: metalsradar price service, spot prices in AUD, 2 October 2026. Prices change throughout the trading day.<\/figcaption><\/figure>\n<p>Remember that these are spot values. A dealer will charge more than this, because every product carries a premium for minting, distribution and margin. Compare live prices for <a href=\"\/au\/categories\/1-oz-gold-bars\/\">1 oz gold bars<\/a>, <a href=\"\/au\/categories\/100-gram-gold-bars\/\">100 g gold bars<\/a> and <a href=\"\/au\/categories\/1-kilo-silver-bars\/\">1 kg silver bars<\/a> to see the real cost.<\/p>\n<h2>How the Troy Ounce Is Used in Pricing<\/h2>\n<p>The spot price of gold is the price of one troy ounce of pure gold for immediate delivery. Internationally, the price is usually in troy ounces and in US dollars: the LBMA Gold Price is set in USD per troy ounce, with the price in British pounds (GBP) and euros (EUR) published alongside it. In Australia, you will usually see it quoted in AUD, converted from the price in USD per troy ounce at the current exchange rate.<\/p>\n<figure class=\"mrf-chart\">\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 720 380\" role=\"img\" aria-labelledby=\"tc1\" style=\"width:100%;height:auto;font-family:inherit\">\n<title id=\"tc1\">Gold spot price in Australian dollars per troy ounce, 2 October 2025 to 2 October 2026<\/title>\n<line x1=\"70\" y1=\"276.7\" x2=\"696\" y2=\"276.7\" stroke=\"#d9dee7\" stroke-width=\"1\"\/><text x=\"62\" y=\"280.7\" text-anchor=\"end\" font-size=\"12\" fill=\"#243044\">6,000<\/text>\n<line x1=\"70\" y1=\"214.3\" x2=\"696\" y2=\"214.3\" stroke=\"#d9dee7\" stroke-width=\"1\"\/><text x=\"62\" y=\"218.3\" text-anchor=\"end\" font-size=\"12\" fill=\"#243044\">6,500<\/text>\n<line x1=\"70\" y1=\"151.9\" x2=\"696\" y2=\"151.9\" stroke=\"#d9dee7\" stroke-width=\"1\"\/><text x=\"62\" y=\"155.9\" text-anchor=\"end\" font-size=\"12\" fill=\"#243044\">7,000<\/text>\n<line x1=\"70\" y1=\"89.6\" x2=\"696\" y2=\"89.6\" stroke=\"#d9dee7\" stroke-width=\"1\"\/><text x=\"62\" y=\"93.6\" text-anchor=\"end\" font-size=\"12\" fill=\"#243044\">7,500<\/text>\n<text x=\"70.0\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Oct 25<\/text>\n<text x=\"172.9\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Dec 25<\/text>\n<text x=\"279.2\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Feb 26<\/text>\n<text x=\"380.4\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Apr 26<\/text>\n<text x=\"485.0\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Jun 26<\/text>\n<text x=\"589.7\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Aug 26<\/text>\n<text x=\"694.3\" y=\"350\" text-anchor=\"middle\" font-size=\"12\" fill=\"#243044\">Oct 26<\/text>\n<polyline fill=\"none\" stroke=\"#c9a227\" stroke-width=\"2.5\" 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214.1,189.9 215.8,182.6 217.5,179.9 219.2,179.8 220.9,201.1 222.6,212.8 224.4,217.2 226.1,218.7 227.8,213.6 229.5,218.4 231.2,218.2 232.9,197.8 234.6,189.7 236.4,199.3 238.1,196.5 239.8,187.8 241.5,182.9 243.2,182.7 244.9,170.7 246.7,170.4 248.4,163.1 250.1,166.4 251.8,169.0 253.5,169.3 255.2,169.1 256.9,155.2 258.7,148.9 260.4,130.1 262.1,135.5 263.8,121.1 265.5,115.9 267.2,115.6 268.9,111.3 270.7,107.9 272.4,83.3 274.1,60.0 275.8,118.0 277.5,150.4 279.2,151.4 281.0,186.3 282.7,153.4 284.4,134.5 286.1,153.4 287.8,151.1 289.5,136.7 291.2,136.4 293.0,132.4 294.7,137.2 296.4,136.6 298.1,145.8 299.8,144.4 301.5,135.5 303.2,135.7 305.0,144.9 306.7,159.0 308.4,153.0 310.1,142.9 311.8,134.5 313.5,122.5 315.3,122.2 317.0,113.2 318.7,113.0 320.4,112.3 322.1,116.7 323.8,111.0 325.5,99.2 327.3,98.6 329.0,81.4 330.7,100.7 332.4,110.8 334.1,116.5 335.8,111.5 337.6,103.0 339.3,103.9 341.0,117.5 342.7,115.2 344.4,119.6 346.1,126.4 347.8,125.0 349.6,135.1 351.3,135.3 353.0,135.9 354.7,143.1 356.4,161.0 358.1,193.4 359.8,209.0 361.6,232.0 363.3,231.9 365.0,239.7 366.7,237.3 368.4,210.2 370.1,225.7 371.9,217.7 373.6,211.7 375.3,211.9 377.0,202.9 378.7,188.2 380.4,173.8 382.1,179.6 383.9,180.5 385.6,180.5 387.3,181.2 389.0,183.2 390.7,185.9 392.4,179.4 394.1,182.3 395.9,183.8 397.6,185.8 399.3,187.1 401.0,189.1 402.7,182.7 404.4,184.7 406.2,188.7 407.9,187.3 409.6,185.7 411.3,186.5 413.0,187.0 414.7,194.5 416.4,198.4 418.2,203.4 419.9,202.8 421.6,201.2 423.3,201.6 425.0,209.8 426.7,222.6 428.4,229.1 430.2,219.3 431.9,218.5 433.6,217.7 435.3,217.6 437.0,234.0 438.7,231.2 440.5,221.5 442.2,214.2 443.9,211.3 445.6,211.9 447.3,212.2 449.0,214.7 450.7,211.6 452.5,215.8 454.2,219.3 455.9,228.9 457.6,233.6 459.3,233.5 461.0,232.4 462.8,232.2 464.5,234.9 466.2,232.5 467.9,234.7 469.6,236.4 471.3,235.6 473.0,230.1 474.8,237.8 476.5,244.2 478.2,247.2 479.9,234.8 481.6,233.3 483.3,233.4 485.0,244.0 486.8,242.5 488.5,248.8 490.2,245.5 491.9,254.8 493.6,267.6 495.3,267.6 497.1,260.2 498.8,263.6 500.5,287.2 502.2,290.9 503.9,279.9 505.6,277.4 507.3,276.4 509.1,261.5 510.8,260.4 512.5,261.9 514.2,266.8 515.9,286.1 517.6,286.4 519.3,286.5 521.1,277.4 522.8,283.7 524.5,294.8 526.2,300.9 527.9,292.2 529.6,285.1 531.4,286.2 533.1,293.7 534.8,297.7 536.5,297.4 538.2,286.3 539.9,274.9 541.6,274.6 543.4,274.4 545.1,276.6 546.8,282.1 548.5,288.2 550.2,286.4 551.9,286.3 553.6,284.6 555.4,285.3 557.1,299.1 558.8,299.3 560.5,302.9 562.2,309.9 563.9,309.5 565.7,306.1 567.4,306.4 569.1,310.0 570.8,303.3 572.5,289.0 574.2,297.6 575.9,301.7 577.7,301.5 579.4,300.9 581.1,296.9 582.8,302.9 584.5,299.2 586.2,293.3 588.0,306.0 589.7,308.9 591.4,308.5 593.1,303.8 594.8,302.1 596.5,282.7 598.2,270.7 600.0,260.6 601.7,255.2 603.4,255.2 605.1,257.0 606.8,249.3 608.5,246.2 610.2,249.8 612.0,256.3 613.7,253.0 615.4,253.0 617.1,253.2 618.8,255.8 620.5,245.8 622.3,236.8 624.0,227.2 625.7,223.1 627.4,223.0 629.1,215.3 630.8,214.2 632.5,222.4 634.3,225.2 636.0,236.3 637.7,252.3 639.4,252.3 641.1,251.3 642.8,259.8 644.5,264.6 646.3,251.8 648.0,253.8 649.7,257.4 651.4,257.5 653.1,263.6 654.8,264.2 656.6,265.8 658.3,268.5 660.0,268.4 661.7,268.1 663.4,268.3 665.1,271.3 666.8,273.8 668.6,269.9 670.3,265.5 672.0,259.6 673.7,258.6 675.4,258.7 677.1,263.1 678.8,263.7 680.6,266.3 682.3,266.7 684.0,264.5 685.7,264.5 687.4,264.8 689.1,285.8 690.9,284.1 692.6,278.5 694.3,273.0 696.0,280.8\"\/>\n<rect x=\"70\" y=\"12\" width=\"14\" height=\"4\" fill=\"#c9a227\"\/><text x=\"90\" y=\"19\" font-size=\"12\" fill=\"#243044\">Gold, A$ per troy ounce<\/text>\n<\/svg><figcaption>Gold spot price in AUD per troy ounce, daily close. Source: metalsradar price service, 2 October 2025 to 2 October 2026.<\/figcaption><\/figure>\n<p>The chart shows how much one troy ounce moved in a year. It started at A$5,836.51 on 2 October 2025, reached a high of A$7,736.89 on 29 January 2026 and stood at A$5,966.56 on 2 October 2026. That is why dealers also show prices per gram and per kilogram: the ounce is the reference, but your purchase may be measured in other units. See the <a href=\"\/au\/charts\/gold-price\/gold-price-per-gram\/\">gold price per gram<\/a> and <a href=\"\/au\/charts\/gold-price\/gold-price-per-kilogram\/\">gold price per kilogram<\/a>, or the same for silver on our <a href=\"\/au\/charts\/silver-price\/silver-price-per-gram\/\">silver price per gram<\/a> page.<\/p>\n<h3>Fine weight vs gross weight<\/h3>\n<p>Does a &#8220;1 oz&#8221; coin always weigh 31.10 g? Not always. The &#8220;1 oz&#8221; refers to the fine weight, meaning the pure metal inside. The gross weight can be higher:<\/p>\n<ul>\n<li><strong>Perth Mint Kangaroo (gold, 99.99%):<\/strong> minimum gross weight 31.107 g, so almost all of it is gold.<\/li>\n<li><strong>South African Krugerrand (22 carat, 91.67%):<\/strong> gross weight about 33.93 g, because copper is added for hardness. It still contains one full troy ounce of gold.<\/li>\n<li><strong>American Gold Eagle (22 carat, 91.67%):<\/strong> also about 33.93 g gross, made from a gold alloy with silver and copper, and also holding one troy ounce of fine gold.<\/li>\n<\/ul>\n<p>To work out the gold content of anything, use this formula:<\/p>\n<p><strong>Fine weight (oz t) = gross weight in grams \u00d7 purity \u00f7 31.1034768<\/strong><\/p>\n<p>For example, a 20 g chain of 18 carat gold (75% purity) contains 20 \u00d7 0.75 \u00f7 31.1034768 = 0.48 troy ounces of gold.<\/p>\n<p>The same applies to silver. Sterling silver is an alloy of 92.5% silver, usually with copper, so a 31.1 g sterling item holds only 0.925 oz t of silver. Investment silver is different: a typical 1 kg silver bar is 999 fine, meaning 99.9% pure, and holds 32.12 troy ounces of silver.<\/p>\n<p>Read also: <a href=\"\/au\/blog\/what-are-the-best-gold-coins-to-buy\/\">What Are the Best Gold Coins to Buy in Australia?<\/a><\/p>\n<h2>Why Precious Metals Still Use Troy Ounces<\/h2>\n<p>Australia went metric decades ago, so why hasn&#8217;t gold? The short answer is that the market is global and has always worked this way. A few practical reasons keep the troy ounce alive:<\/p>\n<ul>\n<li>world benchmark prices, including the LBMA Gold Price, are set in US dollars per troy ounce,<\/li>\n<li>government gold bullion and silver coins are minted to round troy ounce weights (1\/10, 1\/4, 1\/2 and 1 oz),<\/li>\n<li>contracts, vault records and exchange-traded products are usually kept in ounces,<\/li>\n<li>changing would force every mint, refiner and dealer to re-price and re-label at the same time.<\/li>\n<\/ul>\n<p>Metric sizes are growing alongside it. Many bars are sold in grams, and the Chinese Panda gold coin switched from troy ounces to 30 g in 2016. Even so, its price is still worked out from the spot price per troy ounce.<\/p>\n<h2>Troy Ounces When Buying Bullion in Australia<\/h2>\n<p>What should you check before you buy? These four points cover most mistakes:<\/p>\n<ol>\n<li><strong>Compare price per ounce, not per item.<\/strong> A 50 g bar and a 1 oz coin are different weights. Divide the price by the troy ounces in each product.<\/li>\n<li><strong>Check fine weight on the listing.<\/strong> &#8220;1 oz&#8221; should mean one troy ounce of pure metal. If a product is described only in grams, convert it.<\/li>\n<li><strong>Look at the premium, not just the price.<\/strong> Premium % = (dealer price \u2212 spot value of the metal) \/ spot value \u00d7 100.<\/li>\n<li><strong>Know the GST rule.<\/strong> The ATO treats gold of at least 99.5% fineness, silver of at least 99.9% and platinum of at least 99% in investment form as &#8220;precious metal&#8221;, and a dealer&#8217;s sale of it is input taxed, so no GST is added.<\/li>\n<\/ol>\n<p><!-- FOTO: gold-bar-1-oz-stamp.webp | alt: 1 oz gold bar stamped with weight and fineness | podpis: A minted bar shows its fine weight in troy ounces and its purity on the face. --><\/p>\n<p>Want the price of an ounce for a specific coin? Compare <a href=\"\/au\/categories\/kangaroo-gold-coin\/\">Kangaroo gold coins<\/a> or <a href=\"\/au\/categories\/kangaroo-silver-coin\/\">Kangaroo silver coins<\/a> across Australian dealers.<\/p>\n<p>Read also: <a href=\"\/au\/blog\/gold-vs-silver-investments\/\">Gold vs Silver Investments: Which Is Better for Australians?<\/a><\/p>\n<h2>Common Mistakes With Troy Ounces<\/h2>\n<ul>\n<li><strong>Using a kitchen scale and a recipe ounce.<\/strong> A standard ounce is 28.35 g, so your coin will look about 10% &#8220;too heavy&#8221;.<\/li>\n<li><strong>Mixing up gross and fine weight.<\/strong> A Krugerrand weighs more than 31.1 g but holds exactly one ounce of gold.<\/li>\n<li><strong>Rounding too early.<\/strong> On a 1 kg bar, using 32 oz instead of 32.15 oz understates the value by about A$900 at today&#8217;s gold price.<\/li>\n<li><strong>Assuming &#8220;ounce&#8221; means the same thing everywhere.<\/strong> In precious metals it always means troy, but on a general marketplace listing it may not.<\/li>\n<\/ul>\n<p>Read also: <a href=\"\/au\/blog\/what-are-the-top-silver-coins-for-investment\/\">What Are the Top Silver Coins for Investment in Australia?<\/a><\/p>\n<h2>Summary: Troy Ounce<\/h2>\n<figure class=\"mrf-table\">\n<table>\n<thead>\n<tr>\n<th>Question<\/th>\n<th>Answer<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Grams in a troy ounce<\/td>\n<td>31.1034768 g exactly<\/td>\n<\/tr>\n<tr>\n<td>Troy ounces in a kilogram<\/td>\n<td>32.1507 oz t<\/td>\n<\/tr>\n<tr>\n<td>Troy ounce vs regular ounce<\/td>\n<td>About 9.7% heavier (31.10 g vs 28.35 g)<\/td>\n<\/tr>\n<tr>\n<td>Legal in Australia<\/td>\n<td>Yes, for precious metals under the National Measurement Regulations<\/td>\n<\/tr>\n<tr>\n<td>Gold per troy ounce<\/td>\n<td>A$5,966.56 at spot, 2 October 2026<\/td>\n<\/tr>\n<tr>\n<td>Silver per troy ounce<\/td>\n<td>A$87.19 at spot, 2 October 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table><figcaption>Sources: National Measurement Regulations 1999 (Cth), LBMA, metalsradar price service (2 October 2026).<\/figcaption><\/figure>\n<h2>FAQ: Troy Ounce<\/h2>\n<h3>How many grams are in a troy ounce?<\/h3>\n<p>There are exactly 31.1034768 grams in one troy ounce. For everyday sums, 31.1 g is close enough, but dealers and mints use the full figure.<\/p>\n<h3>Is a troy ounce heavier than a regular ounce?<\/h3>\n<p>Yes, a troy ounce is heavier. It weighs 31.10 g, while a regular (avoirdupois) ounce weighs 28.35 g, a difference of about 2.75 g or 9.7%.<\/p>\n<h3>How many troy ounces are in a kilogram?<\/h3>\n<p>There are 32.1507 troy ounces in one kilogram. A 1 kg gold bar therefore holds just over 32 ounces of gold.<\/p>\n<h3>Why is gold measured in troy ounces and not grams?<\/h3>\n<p>Gold is measured in troy ounces because the global market has used the unit for centuries and benchmark prices are still set per troy ounce. Grams are common for bars and jewellery, especially in Australia.<\/p>\n<h3>Is a 1 oz gold coin exactly one troy ounce?<\/h3>\n<p>Yes, a 1 ounce bullion coin contains one troy ounce of fine gold. Its total weight can be higher if the coin is 22 carat, like the Krugerrand.<\/p>\n<h3>How much is one troy ounce of gold in Australia?<\/h3>\n<p>On 2 October 2026, one troy ounce of gold was worth A$5,966.56 at the spot price. Dealer prices are higher because they include a premium.<\/p>\n<h3>What does &#8220;oz t&#8221; mean?<\/h3>\n<p>&#8220;Oz t&#8221; is short for troy ounce. You may also see ozt, troy oz or, in Australian legislation, oz tr.<\/p>\n<h2>Compare Prices per Ounce Before You Buy<\/h2>\n<p>Knowing the troy ounce is the first step. The second is knowing what you actually pay for it. metalsradar compares prices from Australian bullion dealers and shows the premium over spot for each product, so you can see the cost per ounce at a glance.<\/p>\n<p>Check today&#8217;s prices for <a href=\"\/au\/categories\/gold-coins\/\">gold coins<\/a>, <a href=\"\/au\/categories\/gold-bars\/\">gold bars<\/a> and <a href=\"\/au\/categories\/silver-coins\/\">silver coins<\/a>, follow the <a href=\"\/au\/charts\/silver-price\/\">silver price chart<\/a>, or browse our list of <a href=\"\/au\/dealers\/\">Australian dealers<\/a>.<\/p>\n<p class=\"mrf-disclaimer\"><em>This article is for informational purposes only and is not investment or tax advice.<\/em><\/p>\n","protected":false},"featured_media":7734,"template":"","format":"standard","meta":{"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0},"class_list":["post-7887","blog","type-blog","status-publish","format-standard","has-post-thumbnail","hentry"],"taxonomy_info":[],"featured_image_src_large":["https:\/\/metalsradar.com\/wp-content\/uploads\/2024\/12\/Grafiki-do-Whitepress-1024x576.jpg",1024,576,true],"author_info":[],"comment_info":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/blog\/7887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/types\/blog"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/media\/7734"}],"wp:attachment":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/media?parent=7887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}