Question: What exactly is a Silver Troy ounce? In recent times there has been a surge in interest in buying silver, as a hedge against economic uncertainty.
Some buyers have been scooping up Silver ingots, others scrap silver.
But for most investors their silver purchases take the form of Silver Coins or "Rounds".
Indeed the demand for the Silver Eagle coin is now so great, that virtually the entire silver mining output of the United States is going to meet this demand.
With so many new buyers in the market, this weights and measures question keeps arising: You see, historically, bullion silver has been weighted in Troy ounces.
In more recent times, grams & kilos have also been used, but this form of measurement is still an important unit in the silver market.
The name "Troy" derives from Troyes in France and this metric formed one of the cornerstones of a measurement system that dates back to the middle ages.
If you plan on buying a bullion coin, such as a "Round" then the chances are, that this unit of weight will be indicated on the surface.
So, the next question- the one you are itching to ask: Is a Troy ounce, heavier or lighter than a regular ounce? Good news! A Silver Troy ounce is about 10% heavier than the standard ounce.
Comparing them both in metric: 1 troy ounce weighs 31.
1 grams 1 "ordinary "ounce weighs 28.
34 grams So, when you buy a Silver bullion coin, you may be getting a little more silver than you expected! Till next time, Happy silver coin buying