Weight & Purity in Precious Metals

Weight & PurityWeight & Purity
What Determines the Value ofWhat Determines the Value of
Precious MetalsPrecious Metals
Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454

Dealer JargonDealer Jargon
• Professions in the precious metals business (such as
jewelers, pawnbrokers, and metal refiners) use lots
of jargon in their everyday transactions.
• Most of this jargon describes the weight and purity
of precious metals.
– Weight and purity determine the amount of precious
metal in a sample. They are the most important factors for
determining the sample’s worth.
2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver
www.mgsrefining.com | 212-398-1454www.mgsrefining.com | 212-398-1454

An Intro to Weight and PurityAn Intro to Weight and Purity
• Measures of Weight
– Grams
– Kilograms
– Grains Weight
– Pennyweight
– Troy Ounces
– Troy Pounds
– Avoirdupois Ounces
– Avoirdupois Pounds
• Measures of Purity
– Karats
– Millesimal Fineness

Precious Metal WeightPrecious Metal Weight
• There are many ways to measure the weight of a
precious metal sample. However, there are only 3
concepts you need to know:
• Avoirdupois
• Troy
• Pennyweight

Avoirdupois vs. TroyAvoirdupois vs. Troy
• “Avoirdupois” refers to the everyday weight system
in the US.
– It uses pounds of 16 ounces (oz.)
• While avoirdupois weight is commonly understood,
it is never used by the precious metal industry.
• You may know the avoirdupois weight of your gold,
but you will need to convert it if you want to sell or
trade it.

Avoirdupois vs. TroyAvoirdupois vs. Troy
• The troy system of measurement is used by all
members of the precious metal industry.
– It uses pounds of 12 ounces (ozt.)
• The troy ounce slightly heavier than the avoirdupois
ounce:
– 1 ozt = 1.097 oz.
• When dealing with jewelry, bullion, or any precious
metal industry – all references to ounces are troy
ounces.

The PennyweightThe Pennyweight
• The pennyweight (dwt) is a troy unit commonly used
by jewelers and refiners.
• When you are selling gold or other precious metals,
you’ll need to know the weight of your lot in
pennyweights.
• Using a pennyweight conversion calculatorpennyweight conversion calculator makes
this task very easy!

Karats (Purity)Karats (Purity)
• Karats (kt) are used to measure gold purity. Karats
are determined by dividing the mass of the metal by
the amount of gold within the metal and multiplying
by 24.
– 24kt is equal to pure gold, 18kt is equal to 75% pure, 12kt
is 50%, and so on.
• Outside the US and Canada, karat is spelled “carat.”
– A carat is another unit of measurement used for weighing
gemstones (e.g. a 2 carat diamond in an 18 karat gold
setting).

Millesimal Fineness (Purity)Millesimal Fineness (Purity)
• Millesimal fineness denotes the precious metal in an alloy by
parts per thousand.
• Millesimal fineness measurements are stamped on jewelry,
dining sets, bullion coins, and other precious metal products.
– E.g. a platinum coin with an 850 stamp would mean it is 85%
pure platinumpure platinum.
• When dealing in golddealing in gold, the term “nines fine” refers to
millesimal fineness.
– Gold stamped 900, or 90% is referred to as one-nine fine. Gold that is
99.9% pure, or 999, is three-nines fine.

About MGSAbout MGS
• Manhattan Gold & Silver (MGS) is a precious metals refiner that has been
based in Manhattan’s historic Diamond District since 1985. We are a B2B
company that buys and recycles precious metal scraps that accumulate in
other businesses.
• We serve:
– Jewelers
– Pawnbrokers
– Dentists
– The industrial sector
– Antique dealers
– Machinists
– And more!
• MGS also creates charts, calculators, and other online tools for our
customers to use.
– Try our Precious Metals Prices app, which lets you monitor the real-time precious metals
market situation from anywhere, right from your iPhone.

Recycle your PreciousRecycle your Precious
Metals for ProfitMetals for Profit
• MGS accepts gold, silver, platinum, and palladium.
• Payouts are based on the London Fixing.
• Up to 98% payout (among the highest in the US)
– Up to 98.5% for gold brought in for hand testing.
• Not in NYC? Ship us your precious metals using
our Ship & Sell service. Ship & Sell offers:
– Same day wired payment (once lot is received)
– Discounted, insured shipping
– Payout calculator

Connect with MGSConnect with MGS
• For amazing facts, history and news, read our
gold and precious metals blog.
• Join the conversation about precious metals on the
MGS Facebook page.
• Follow gold, silver, and other precious metal trends at the
MGS Twitter account.
• Circle MGS on Google+ to hear our latest updates.
• If you do business with us, connect with us on the
MGS LinkedIn page.
• To see precious metal melting and refinement in action, visit the
MGS Youtube channel.

Weight & Purity in Precious Metals

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