What does the ounce label measure?
1 troy oz = 31.1034768 g
This conversion uses troy ounces. Check whether the product document gives gross weight or fine-metal content. Do not apply fineness again to a weight already stated as fine content.
Troy ounces and ordinary ounces differ
A precious-metal troy ounce is exactly 31.1034768 grams. An ordinary ounce is approximately 28.3495 grams. Using the wrong ounce introduces a systematic error between weight and price. When a coin is already described by fine metal content, do not apply purity to that fine quantity again. Gross weight and fine content are different starting points.
A worked valuation
The following figures are a worked example, not current prices. Illustrative USD/troy-ounce reference: 31. 10 troy ounces × 1 = 311.0348 grams of fine silver. Illustrative metal value: 310 USD.
This value is neither a dealer’s ask nor your net resale proceeds. Enter actual bid and ask quotes in the same unit and add total fees separately. Quotes taken at different times can also differ from a calculated reference. When changing currency in the calculator, remember that FX is a daily reference.
Silver weight and delivery costs
Physical silver purchases can involve different quantities than gold for the same budget, so assess delivery and storage charges using the actual offer. A 999 designation means 99.9% purity; a fine-gram reference is not identical to a product’s gross-gram price. A price screen does not authenticate purity. Check the certificate and testing conditions separately when needed.