weight conversion

TCoins

I bought a pure .999 silver ingot with a declared weight of 15 grains for $11.00. Did I get a good deal or was I robbed? I believe 15 grains is close to 96% of an ounce. Does anyone have a good link for weight conversions?

quattrocoins

Here ya go.

dan8402

If I did the calculation right, it shouldn't be called an ingot, but rather a speck.

Texast

Troy
A system historically used for measuring the weight of drugs, precious metals and gemstones

480 grains = 1 ounce troy
31.1035 grams = 1 ounce troy
12 troy ounces = 1 troy pound
20 pennyweights (dwt) = 1 ounce troy
1 pound = 373.242 grams
1 pound = 5760 grains

Grain
An ancient unit which was originally based on the weight of a grain of wheat. The grain is the smallest unit of weight in the avoirdupois, troy, and apothecaries systems. Surprisingly it is identical in all three systems.
4 grains = 1 carat
24 grains =1 pennyweight
480 grains = 1 troy ounce
5760 grains = 1 troy pound
437.5 grains = 1 ounce avoirdupois
7000 grains = 1 pound avoirdupois
1 grain = 0.0648 grams (0.06479891)
15.432 grains = 1 gram

If you bought a 15 grain ingot for $11.00 you paid about $10.60 over the silver value...

TomB

Are you certain it was grains and not grams? I ask because 15 grains is 1/32 of a troy ounce and silver is currently about $13.25 a troy ounce. Therefore, you paid a rate of approximately $352 per ounce for the silver.

Thenewguy

15 grains is just a tad less then 1 gram, there are 31.1 grams in a troy ounce. If it is really 15 grains you paid a very steep price for that silver.

OPA

<< <i>Are you certain it was grains and not grams? I ask because 15 grains is 1/32 of a troy ounce and silver is currently about $13.25 a troy ounce. Therefore, you paid a rate of approximately $352 per ounce for the silver. >>





Your math is impeccable.

StrikeOutXXX

American Royal Mint sells a boat load of 15 grain "1-ounce" silver products with zodiac signs and such - they're referred to as "art bars" . They are usually a copper/brass core with minute amounts of what they describe as "Silver Coating".

A typical one troy ounce silver round is 480 grains. With today's close of $13.25, the silver value in your piece is about 41 cents.

The good news is almost all of these do sell around $10 for some reason, but the value is not in the silver.