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Pennyweight is a standard unit of measurement used in the precious metals industry. It originated as a unit of the troy weight system in 15th Century England and remains the standard for valuing precious metals today.
During 15th Century England, the weight of an English penny was exactly 1/20th of a troy ounce and 1/240th of a troy pound of sterling silver. Therefore, there are 20 pennyweights in a troy ounce and 12 troy ounces in a troy pound.
Although the same grain is used in both the troy weight system and the more common avoirdupois system (used in the United States), a troy ounce is heavier than an avoirdupois ounce, and a troy pound is lighter than an avoirdupois pound. There are 20 pennyweights in a troy ounce, compared to 31.1 grams in a troy ounce.
With prices set per troy ounce by the London fix, calculating a pennyweight price on the spot can be tricky. To help, we’ve provided our pennyweight calculator and conversion chart below. Use these tools to help determine the value of your precious metals.
Use our pennyweight calculator to convert the weight of your precious metals into pennyweights (dwt).
An advanced version of this pennyweight calculator, which provides payout quotes, is available to our customers who register for an account with us. From the largest lot to the smallest collection of scrap jewelry, provide us with your contact information and we’ll follow up with a quote. Call us today 212-398-1454 to discuss hedging options or stop by and visit us in the Diamond District. Our headquarters are at 45 West 47th Street (Exchange).
Need to convert pennyweights to grams? Grams to troy ounces? Troy ounces to pennyweights? Download your print quality (pdf) pennyweight conversion chart from Manhattan Gold & Silver.
|Pennyweight||Grams||Kilograms||Grains weight||Troy ounces||Troy Pounds||Avoirdupois ounces||Avoirdupois pounds||Karats|
|1 troy oz||20||31.104||0.03115||480||1||0.083333||1.0971||0.068571||155.517|
|1 troy lb||240||373.24||0.3732||5760||12||1||13.166||0.822857||1866.208|
|1 oz avoid||18.230||28.35||0.0284||437.52||0.912||0.075954||1||0.062499||141.747|
|1 lb avoid||291.68||453.59||0.4536||7000.32||14.583||1.21527||16||1||2267.961|