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 -
Introduction to Rare Coin Collecting Coin dealers, just like any other type of dealer or business, requires stock that they can sell to the public. Rather than obtaining or acquiring their stock from a factory or manufacturer however, they obtain their coins from the public instead. Classic types of rare coins have to be acquired...... -
Coin Collecting at Coin Shows There are a couple of different ways that you can approach coin collecting. Most people are going to look to the Internet or look to local coin collecting shops as they work to expand their coin collection. What many fail to realize is that coin collecting at coin shows is...... -
The Benefits of Getting Kids into Coin Collecting Parents will often push kids into different forms of collecting, like coin collecting, because they understand the significance of the hobby. Each type of collection has specific benefits, benefits that can give your child far more than simple monetary value. There are a wide variety of benefits to be had...... -
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...... -
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......
Related Websites -
Things to Avoid When Collecting Rare Coins and Old Money The world of coin collecting revolves around many types of currency, including rare coins and old money. These types of coins and currency are the hardest to find, and are the most sought after. People will make brainless decisions about these types of currency simply because they want to be...... -
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...... -
Get to Know the American Collectible Gold Coins Gold has always been a highly valuable commodity. It caused a rush in the west when it was discovered and has been valuable throughout time. This is why so many civilizations used it to create their currency. The gold coins which were created have been used throughout time either because...... -
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,...... -
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......
- Foods, Bars & Snacks Weight Management
- Coin Purses Bags, Cases, Wallets Contemporary (1968-Now) Disneyana Collectibles
- Coin Platinum & Palladium Bullion Coins & Paper Money
- Weight Mold Downrigger, Outrigger Gear Fishing
- Troy Built Tillers Outdoor Power Equipment Yard, Garden & Outdoor Living Nursery
