When you are bidding on gold, silver and other coins that are listed by weight, it is important for you to have an understanding of what the weight actually is. If someone is listing an item by weight and they list ounces, then what they may mean is troy ounce, but this is not always the case. If you assume that a troy ounce and an ounce are the same thing, then you are going to come up relatively short by about 9 percent. If you are buying, selling or trading in precious metal coins then you need to understand the difference between troy ounces and regular ounces and this is where a troy oz conversion comes in. Precious metal coins are sold based on troy ounces rather than regular ounces of weight.
If you are buying an item and it is made out of gold or silver or another precious metal and the weight is given to you in ounces, then you should actually be suspicious because the seller is using this to their advantage in order to trick you into thinking that you are getting more coin than you deserve. The troy oz conversion is a difference of 9 percent meaning that you would be getting ripped off if you buy a coin thinking it is in troy oz when it is not. If they list regular ounces rather than the proper troy oz conversion, then take this troy oz conversion to mind:
Take the amount of oz listed, multiplying it by .91.
Example: If they state that the coin is 8.9 ounces, then do this:
8.9 x 0.91 = 8.099 troy oz.
You are also going to see people that are listing the weight of items based on postal ounces. Postal ounces and troy ounces are NOT the same thing. You just have to use the exact same calculation, 91 percent of the amount that is being listed.
So if someone states that a coin is 8.9 postal ounces, then you can do this:
8.9 postal ounces x 0.91 troy oz conversion = 8.099 troy ounce.
If on the other hand someone is listing a weight in grams, then you can do a similar troy oz conversion. Converting grams into troy ounces is done this way:
1 troy ounce = 31.103 grams
So if you have a weight that is 126 grams, then you would divide 126 by 31.103.
126 grams / 31.103 = 4.05 troy ounces.
This is the best way that you can make sure that you get what you were paying for when it comes to buying coins and collecting coins, especially online when you cannot easily look at the coin in person. It is vitally important that you only buy coins that are what they claim to be, and so you should make sure to do the math to ensure that you get the right weight for your money.
Photo Credits: Christian Frausto Bernal
Originally posted 2009-09-18 03:53:36. Republished by Blog Post Promoter
Related Posts -
Judging Your Collection Based on Coin Collecting Values If you are serious about collecting coins, then one of the things that you should be putting consideration into when collecting is coin collecting values. The thing about coin collecting values is that they let you know what price a particular coin is going for. In other words, if you...... -
Earn a Profit Collecting Rare Coins If you are looking to earn a profit with a unique type of collection, then one of the collection options that you may want to consider is rare coins. When you are collecting coins for the purpose of an investment, then it is probably going to follow that you are...... -
Coin Collection and Coin Shows Anyone who is interested in expanding their coin collection is going to want to hit up some of the different coin shows in their area. These coin shows feature coin dealers who are looking to sell off large amounts of coins. They provide coin collectors with an incredible opportunity to...... -
Selling Your Coin Collection There are plenty of people who will keep their coin collection into old age, hanging on to the sentimental value of the coins they have collected. There are others who have simply lost interest in their collection and have no need to keep it. These individuals are better off trying...... -
The Rare Coin Collecting Debate Those who are thinking about getting into coin collecting are going to have to make a somewhat serious decision about their collection. These collectors are going to have to start to think about rare coins and are going to need to decide whether or not they plan on taking their......
Related Websites -
Must Have Supplies for Collecting Rare Coins There are many different hobbies that you can take on. One of the hobbies that you can enjoy which can turn into a profession if you want it to is collecting rare coins. These are expensive to buy, but a lot of fun to learn about. After all, there is...... -
Get to Know the Collectability of Coins from the National Collectors Mint There are all different manner of coin numismatists collect. These include the currencies of the United States and all of the other countries which happen to be in a coin form. Along the way there have been coins which have been produced which were intended to be legal tender which...... -
Making the Transaction From Hobby Coin Collecting to Serious Coin Collecting There are some people who see coin collecting as a simple and fun hobby. They like to pick out coins that they enjoy looking at and reading about, and add coins to their collection every few months. There are others who are incredibly serious about their collections and their hobby,...... -
Get to Know the Value of CSN Collectible Coins There are many different kinds of coin collectors out there with a wide variety of coins you can collect. There are some only interested in buying raw coins so that they can turn around and sell them at a huge profit. There are others who pride themselves on being able...... -
Weight Loss Photos Well I decided it was time to start a photo page to document pictorially my progress. So without further ado I present... Before and After Weight Loss Pictures Future updates will be added to the linked page with the full size photos being added. A blog post with thumbnail(s) will announce any......
- Coin Platinum & Palladium Bullion Coins & Paper Money
- Troy Built Tillers Outdoor Power Equipment Yard, Garden & Outdoor Living Nursery
- Foods, Bars & Snacks Weight Management
- Weight Mold Downrigger, Outrigger Gear Fishing
- Coin Purses Bags, Cases, Wallets Contemporary (1968-Now) Disneyana Collectibles
Categories:
Coin Collecting
Tags:
0 comments ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment