Published 18 September 2025 · updated 2 June 2026
Grams: the default
A gram is a gram, the same in every context, and is the unit used by virtually all UK and European bullion and scrap pricing. When a buyer publishes a per-gram rate, that is exactly what they mean. GoldPaid prices and reports in grams, weighed to 0.01g precision.
Troy ounces: the bullion unit
Investment bullion (bars, sovereigns, krugerrands) is often quoted per troy ounce. One troy ounce equals 31.1035 grams. Importantly, it is not the same as a regular "avoirdupois" ounce used for groceries (28.3495g), confusing the two can cause meaningful errors. When converting a troy-ounce quote to a per-gram figure, divide by 31.1035.
Pennyweights: the old unit
A pennyweight (abbreviated "dwt") is one-twentieth of a troy ounce, or 1.555 grams. It is still used by some American pawnbrokers and in older jewellery-trade contexts. If you are comparing offers and one quotes "per dwt," translate to per-gram before comparing, a "high" per-dwt rate is much smaller in per-gram terms.
Quick conversions
| From | To grams | Notes |
|---|---|---|
| 1 troy ounce | 31.1035g | Standard bullion unit |
| 1 avoirdupois ounce | 28.3495g | Not used in bullion, do not confuse with troy |
| 1 pennyweight (dwt) | 1.555g | 1/20 of a troy ounce |
| 1 grain | 0.0648g | Old jewellery unit; 24 grains = 1 dwt |
Common questions
Is a troy ounce heavier than a normal ounce?
Yes. 31.1035g versus 28.3495g, roughly 10% heavier. Always check which "ounce" is being quoted in any precious-metal context; bullion always uses troy.
Should I worry about pennyweight quotes?
Mainly when comparing offers across buyers. A per-pennyweight figure looks higher than the equivalent per-gram figure simply because a pennyweight is larger than a gram. Translate to per-gram before comparing.
How precisely does GoldPaid weigh my items?
To 0.01 of a gram on calibrated scales, with mixed lots separated by carat before weighing.