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A pennyweight (dwt) is a unit of mass equal to 24 grains, 1 ⁄ 20 of a troy ounce, 1 ⁄ 240 of a troy pound, approximately 0.054857 avoirdupois ounce [1] and exactly 1.55517384 grams. [2] It is abbreviated dwt , d standing for denarius – (an ancient Roman coin), and later used as the symbol of an old British penny (see £sd ).
The pennyweight symbol is dwt. One pennyweight weighs 24 grains, and 20 pennyweights make one troy ounce. [15] Because there were 12 troy ounces in the old troy pound, there would have been 240 pennyweights to the pound (mass) – just as there were 240 pennies in the original pound-sterling.
Another difference arose when Britain abolished the troy pound (373.241 7216 g) on 1 January 1879, leaving only the troy ounce (31.103 4768 g) and its decimal subdivisions, whereas the troy pound (of 12 troy ounces) and pennyweight are still legal in the United States, although they are no longer widely used.
For example, 1 troy ounce of 18 karat gold (which is 75% gold) may be said to have a fine weight of 0.75 troy ounces. Most modern government-issued bullion coins specify their fine weight. For example, the American Gold Eagle is embossed One Oz. Fine Gold and weighs 1.091 troy oz.
In either case, a London bushel was reckoned to contain 64 pounds, 12 ounces, 20 pennyweight, and 32 grains. These measures were based on the relatively light tower pound and were rarely used in Scotland, Ireland, or Wales during the Middle Ages.
English-speaking countries also used a system of units of fluid measure, or in modern terminology volume units, based on the apothecaries' system. Originally, the terms and symbols used to describe the volume measurements of liquids were the same as or similar to those used to describe weight measurements of solids [33] (for example, the pound by weight and the fluid pint were both referred to ...
Nevenka Vrdoljak, the managing director in the chief investment office for Merrill and Bank of America Private Bank, told BI that calculating how much you need for retirement requires difficult ...
The apothecaries and troy pounds are divided into 12 ounces (of 480 grains) while the avoirdupois pound has 16 ounces (of 437.5 grains). The unit of volume, the gallon, has different values in the United States and in the United Kingdom – the US fluid gallon being about 0.83 imperial gallons and the US dry gallon being about 0.97 imperial ...