GOLD WEIGHTS

Our common weight units (pounds, ounces, grams) are measured in what is called the Avoirdupois weight system. When you talk about a pound of butter, you would be talking about the Avoirdupois weight system. Gold is weighed in what is called Troy weights. One pound of butter would equal 1.22 troy pounds of gold.

If I weighed 170 lbs (don't I wish), what would my weight in gold be worth at $650/oz? Well here goes:

Gold’s value per ounce: $650
12 troy ounces per troy pound
$650 X 12 = $7800 per troy pound
My weight is 170 regular pounds
My weight in troy pounds: 170 X 1.22 = 207.4 troy lbs.
207.4 X $7800 = $1,617,720.00

WOW, my weight in gold is $1,617,720.00
Actually I lied; my weight is closer to 210 lbs!!!!

What is a nugget worth?

It's worth its weight in gold of course but there are other factors involved. If you were crazy enough to turn your nugget into a smelter to have it melted down into bullion, you would probably receive 60% to 80% of the market value of gold. Fortunately for us prospectors, gold nuggets are a collector's item and their value is driven by supply and demand. The more unique the specimen, the more it will bring on the market. A good rule of thumb is that a nugget will bring 1.5 to 2.5 times its value by weight in gold depending on its uniqueness. If you were to make that nugget into jewelry, the value goes up substantially.

Rob Ruth - Prospector/Webmaster

Troy measure
24 grains = 1 pennyweight
20 pennyweight = 1 oz troy
12 oz = 1 lb troy

Troy to Avoirdupois
1 pennyweight = 1.54 grams
1 oz. troy = 1.095 oz.
1 lb. troy = 0.82 lb.

Avoirdupois to Troy
1 gram = 15.43 grains
1 gram = 0.65 pennyweight
1 oz. = 0.913 oz. troy
1 lb. = 1.22 lb. troy