What is a Troy Ounce?

what is a troy ounce

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Are you a precious metals investor looking to maximize your knowledge around this financial field? If you answered yes, then it’s critical you understand not only what a Troy Ounce is, but how it’s used. 

The troy ounce is the traditional weight system used to weigh precious metals in 15th-century Europe.

However, these rare precious metals are highly pursued today for their ability to hedge against currency inflation and versatile usefulness in advanced technology.

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What are the most popular precious metals?

The most popular precious metals are well known for currency-powered rarity since ancient times and as desirable alternatives for paper currency and cryptocurrency. 

Precious metals are tangible assets that hold their value over market dips and inflation over generations despite some barriers to entry for beginners ready to invest in precious metals.

However, the investment can prove life-changing due to its natural rarity that keeps precious metals in consistently high demand. 

  • Investing in precious metals is low risk with low market volatility.
  • Traders can purchase precious metals in coins, bars, rounds.
  • Precious metals are timeless investments that you can treasure for generations.

And if you’re wondering which precious metal to collect or invest in, follow this quick guide to the world’s most popular precious metals to choose the suitable investment.

Rhodium

Next-generation investors interested in diversifying their investment portfolios include the platinum metal Rhodium.

The glitter white shimmery platinum finish you find on jewelry is the foundation of your vehicle’s automotive exhaust filtration systems.  

Rhodium lives in South Africa, producing 30 tons of rhodium each year. With its rarity, it is the most valuable precious metal around the world.

It is known for its resistance to wear, corrosion, and high melting point.

Palladium

Palladium is most admirable for its superior application in air pollution control for gasoline-powered vehicles and electronic usage.

It is a lustrous platinum metal that originates from Russia and South Africa. And it’s value continues to increase in years to come as sustainability regulations intensify.

Experienced investors adding precious metals like palladium to their portfolios may experience growth even under inflation costs.

Palladium has a solid history of being highly sought after for its high demand and low supply.

Gold

Gold has been stowed away safely for generations, poured into jewelry, and similarly laced into electronics.

However, gold is one of the most popular recycled and timeless precious metals. It is also rare and highly desirable for jewelry and industrial use. 

Gold mines are most productive in the U.S, Uzbekistan, Indonesia, and Russia. And for new investors unsure where to start, gold recovers its value quickly under economic uncertainty and stock market swings making gold recession-proof separate from personal stock and bonds.

The cost to purchase a troy ounce of gold is universal, easily converted into regional currencies that allow global citizens to participate in trading. The current price of a troy ounce of gold is $56.16 per TO (troy ounce).

Ruthenium

Ruthenium is a hard-to-find silver metal precious metal that belongs to the platinum family in West Russia, Ukraine, Belarus, and Poland.

It is highly desirable for its cost-saving chemical reactions for advanced technology applications and wears resistance.  

The demand for ruthenium heralds an increase alongside the tech revolution that searches for precious metals that can support industrial progressions, such as a semiconductor for microelectronics or an anti-corrosion metal in hard drives and metal shortages.

Silver

Silver is a brilliant shiny white time-tested precious metal that has held intrinsic value for nearly 600 years since 700 BC.

It was a unique commodity in ancient times and was a staple in many industries, including solar technology, medicine, automobile, and jewelry.

Silver is praiseworthy for its high electrical conductivity for electrical circuits, ability to purify water, and rare capability to stimulate rainfall during drought.

For centuries, cultures worldwide have crafted silver into silverware and ornaments infused with other precious metals like copper.

Though silver can be found anywhere in the world, it usually forms in small insignificant amounts. Mexico, Peru, China, and Russia create the most silver precious metals in the world.

The current price of a troy ounce of silver is $19.03 per TO (troy ounce).

How many grams in a Troy Ounce?

There are about 31.1034 grams per troy ounce. Now, you might ask yourself; why do I need to know how many grams are in a troy ounce?

The most straightforward answer is that familiarizing yourself with the troy weight system will help you assess your investments honestly. 

The troy ounce offers buyers price transparency when investing in precious metals. However, some sellers market their products with better value listing them in ounces rather than troy ounces to get the most out of their investment. 

For example, you meet a seller that claims their gold weighs 50 ounces. Though true, the troy ounce would suggest that the gold only weighs 40 troy ounces, and the buyer misses out on capital value. 

However, new buyers that want to know what a troy ounce is can convert ounces into troy ounces to judge whether or not they wish to purchase precious metals for a fair price.

Troy Ounce vs. Ounce: What’s the difference?

The difference between troy ounce and ounce, also known as avoirdupois ounce, is weight. For example, a troy ounce is 2.753 grams heavier than an ounce weighing 31.103 grams.

And when it comes to precious metals, this difference costs you capital. The traditional ounce in your favorite cooking recipes measures volume using fluid ounces in millimeters or weight in grams.

An ounce is a unit of weight or avoirdupois weight that measures cooking goods except for pharmaceuticals and precious metals. 

However, the troy ounce is the primary unit of measurement bullion dealers and investors use for bullion transactions inside the world’s largest global trading bullion market.

And the international standard use of the troy ounce metric system makes it easier to acquire precious metals worldwide.

Trust the Troy Once

Putting your trust in the troy ounce measurements will fill your portfolio with transparent pricing that buyers and sellers look for when purchasing precious metals. 

The troy ounce is the foundation of a healthy investment that reaps benefits for generations. So purchase a precious metal today and see for yourself.

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When it comes to customer service, fees, safety, and overall customer satisfaction, Regal Assets checks all of the boxes.