{"id":20244,"date":"2026-10-05T05:42:21","date_gmt":"2026-10-05T04:42:21","guid":{"rendered":"https:\/\/metalsradar.com\/glossary\/troy-ounce\/"},"modified":"2026-10-05T07:45:09","modified_gmt":"2026-10-05T06:45:09","slug":"troy-ounce","status":"publish","type":"page","link":"https:\/\/metalsradar.com\/au\/glossary\/troy-ounce\/","title":{"rendered":"Troy Ounce"},"content":{"rendered":"<div class=\"mrf-gl\"><p class=\"gl-def\">A troy ounce is the unit used to weigh precious metals worldwide and equals 31.1035 grams. It is about 10% heavier than the avoirdupois ounce (28.35 g) that older Australians may remember from kitchen scales.<\/p><aside class=\"panel gl-live\"><p class=\"gl-live-h\">\ud83c\udde6\ud83c\uddfa Today in Australia<\/p><div class=\"gl-row\"><span>Gold, 1 troy ounce (spot)<\/span><b>A$5,993<\/b><\/div><div class=\"gl-row\"><span>Cheapest 1 oz gold coin: <a href=\"https:\/\/metalsradar.com\/au\/product\/1-oz-kangaroo-gold-coin\/\">1 oz Kangaroo Gold Coin<\/a><\/span><b>A$6,182<\/b> <small>+3.3% premium<\/small><\/div><p class=\"gl-src\">Data as of 05.10.2026, updated daily.<\/p><a class=\"btn primary\" href=\"https:\/\/metalsradar.com\/au\/cheapest-gold-coins\/\">Compare gold coin prices \u203a<\/a><\/aside><div class=\"gl-body\"><p>The full conversion table and the history of the unit are in our <a href=\"\/au\/blog\/troy-ounce-definition-your-comprehensive-guide\/\">troy ounce guide<\/a>. This entry covers what the troy ounce means when you compare prices in Australia: fine weight, gross weight and the cost per ounce in AUD.<\/p><h2>Gross weight and fine weight<\/h2><p>What you pay for is the fine weight: the amount of pure metal inside. The gross weight includes any alloy. Two coins that both contain one troy ounce of gold can therefore weigh different amounts on your scales:<\/p><ul><li>The Perth Mint's <a href=\"\/au\/product\/1-oz-kangaroo-gold-coin\/\">1 oz Kangaroo gold bullion coin<\/a> is struck in 99.99% gold, so gross and fine weight are almost identical at about 31.1 g.<\/li><li>A South African Krugerrand is 22 carat (91.67% gold). To hold one troy ounce of fine gold it weighs about 33.93 g, with copper making up the rest.<\/li><\/ul><p>Worked example: 33.93 g x 0.9167 = 31.10 g of fine gold, which is one troy ounce. The extra 2.8 g of copper adds hardness, not value. Read more about purity in our entry on <a href=\"fineness}}\">fineness<\/a> and how alloys are expressed in <a href=\"karat}}\">carats<\/a>.<\/p><h2>Converting troy ounces to AUD prices<\/h2><p>International <a href=\"spot-price}}\">spot prices<\/a> are quoted in US dollars per troy ounce. Australian dealers convert that figure into AUD using the current exchange rate, so the Australian price can move even on a day when the US dollar gold price is flat. If you think in grams, divide the price per troy ounce by 31.1035, or use our <a href=\"\/au\/charts\/gold-price\/gold-price-per-gram\/\">gold price per gram in AUD<\/a>. For larger holdings, the <a href=\"\/au\/charts\/gold-price\/gold-price-per-kilogram\/\">price per kilo<\/a> is handy, since 1 kg cast bars are a common size in Australia.<\/p><p>Fractional coins are labelled in parts of a troy ounce: 1\/2, 1\/4, 1\/10 and 1\/20 oz. A 1\/10 oz Kangaroo holds 3.11 g of gold, but its price per gram is usually higher than a 1 oz coin because minting costs are spread over less metal. That difference is the <a href=\"premium}}\">premium over spot<\/a>, which we rank for every product in our list of the <a href=\"\/au\/cheapest-gold-coins\/\">cheapest gold coins in Australia<\/a>.<\/p><\/div><h2>Related terms<\/h2><p class=\"gl-chips\"><a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/au\/glossary\/fineness\/\">Fineness<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/au\/glossary\/spot-price\/\">Spot Price<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/au\/glossary\/premium-over-spot\/\">Premium Over Spot<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/au\/glossary\/carat\/\">Carat (Gold Purity)<\/a><\/p><section class=\"mrf-faq\"><h2>FAQ<\/h2><div class=\"faq-list\"><details open><summary><h3>Where can I find a troy ounce conversion table?<\/h3><\/summary><div class=\"a\"><p>Our troy ounce guide on the blog has the full conversion table and the history of the unit. This entry focuses on fine weight and AUD prices.<\/p><\/div><\/details><details><summary><h3>Is a troy ounce heavier than a normal ounce?<\/h3><\/summary><div class=\"a\"><p>Yes. A troy ounce is about 10% heavier than the avoirdupois ounce of 28.35 g used for everyday goods.<\/p><\/div><\/details><details><summary><h3>Does a 1 oz Krugerrand contain less gold than a 1 oz Kangaroo?<\/h3><\/summary><div class=\"a\"><p>No. Both contain one troy ounce of fine gold; the Krugerrand is heavier overall because it is a 22 carat alloy with copper.<\/p><\/div><\/details><\/div><\/section><details class=\"gl-src-list\"><summary>Sources<\/summary><ul><li><a href=\"https:\/\/www.perthmint.com\/shop\/bullion\/bullion-coins\/australian-kangaroo-2026-1oz-gold-bullion-coin\/\" rel=\"nofollow noopener\" target=\"_blank\">The Perth Mint: Australian Kangaroo 1oz Gold Bullion Coin<\/a><\/li><li><a href=\"https:\/\/www.lbma.org.uk\/good-delivery\/about-good-delivery\" rel=\"nofollow noopener\" target=\"_blank\">LBMA: About Good Delivery<\/a><\/li><\/ul><\/details><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":0,"featured_media":0,"parent":20236,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","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,"footnotes":""},"class_list":["post-20244","page","type-page","status-publish","hentry"],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"","author_link":"https:\/\/metalsradar.com\/au\/"},"comment_info":0,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/pages\/20244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/types\/page"}],"replies":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/comments?post=20244"}],"version-history":[{"count":1,"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/pages\/20244\/revisions"}],"predecessor-version":[{"id":20332,"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/pages\/20244\/revisions\/20332"}],"up":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/pages\/20236"}],"wp:attachment":[{"href":"https:\/\/metalsradar.com\/au\/wp-json\/wp\/v2\/media?parent=20244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}