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A possible source of confusion is that gold is often priced on the open market in the more traditional troy ounce (one troy ounce is exactly 31.1034768 grams, which is larger than the avoirdupois ounce generally in use in the United States and has a mass of 28.35 grams).
Generally, miners say that they extract between 0.05 and 0.1 grams (known locally as a “point”) each day. [1] This local price level was barely half the price level on international commodity markets. In early April 2011, gold was trading at $1,476 per troy ounce, equivalent to $47.45 per gram, or $4.75 per point.
The sizes of bullion coins range from 0.1 to 2 troy ounces (3.1 to 62.2 g), with the 1 troy ounce (31 g) size being most popular and readily available. [ citation needed ] The Krugerrand is the most widely held gold bullion coin, with 46 million troy ounces (1,400 tonnes) in circulation.
The Australian Gold Nugget, also sometimes known as the Australian Gold Kangaroo, [1] is a gold bullion coin minted by the Perth Mint. The coins have been minted in denominations of 20 oz, 10 oz, 4 oz, 2 oz, 1 oz, 2 oz, 10 oz, and 1 kg of 24 carat gold. They have legal tender status in Australia and are one of few legal tender bullion gold ...
The Imperial gallon was based on the concept that an Imperial fluid ounce of water would have a mass of one Avoirdupois ounce, and indeed 1 g/cm 3 ≈ 1.00224129 ounces per Imperial fluid ounce = 10.0224129 pounds per Imperial gallon. The density of precious metals could conceivably be based on Troy ounces and pounds, a possible cause of confusion.
Avoirdupois is a system of mass based on a pound of 16 ounces, while Troy weight is the system of mass where 12 troy ounces equals one troy pound. The symbol g 0 is used to denote standard gravity in order to avoid confusion with the (upright) g symbol for gram.
ons, once – 1 ⁄ 16 pond = 30.881 g (1.0893 oz) (with variations, now 100 g) An ons was 1 ⁄ 16 of a pond. An ons was generally around 30 grams, but there was much variation. The figures provided above for the weight of the various pounds used in the Netherlands can be divided by 16 to obtain the weights of the various ounces in use.
The equivalent weight of an element is the mass which combines with or displaces 1.008 gram of hydrogen or 8.0 grams of oxygen or 35.5 grams of chlorine. The equivalent weight of an element is the mass of a mole of the element divided by the element's valence. That is, in grams, the atomic weight of the element divided by the usual valence. [2]