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Gold Measurements: What Do the Terms “Karat” & “Troy Ounce” Actually Mean?

by Lorimer Wilson, munknee.com:

What’s the difference between 1 troy ounce of gold and 1 (regular) ounce? What’s the difference between 18 and 10 karat gold? What’s the difference between a .75 and a 1.0 carat diamond? Let me explain. Words: 1102

Definition of “Karat”

The term “karat” is used to describe the unit of measurement for the proportion of gold (i.e. % purity of the gold content) in a piece of jewellery, coin, ingot or bar.

Gold will often be mixed with “filler metals” such as silver, palladium, platinum, nickel and even copper to combat the softness of pure 24 karat.

  • Gold which contains a degree of silver, platinum or palladium is referred to as “white gold” and will classify with a higher amount of karats while the presence of nickel leads to a slightly lower designation of karats.
  • Copper is used to give gold durability and give it a golden rosy tone.

Below is a table outlining the karat designations at various gold purity levels plus the extent of “fineness” as is used in some countries such  as Italy.

Karat/Fineness Gold Content [Purity]
24 karat 99+%
22 karat/917 91.6%
21 karat 87.5%
20 karat 83.3%
18 karat/750 75.0%
15 karat 62.5%
14 karat/583 58.5%
10 karat/417 41.7%
9 karat 37.5%
8 karat 33.3%
1 karat 4.2%

 

In some countries “karat” and “carat” are used almost interchangeably although, strictly speaking, the words’ correct meanings are defined as:

  • karat: the % purity of precious metal content
  • carat: the weight of a gemstone

100% pure gold is defined as having a purity of 24 karats so if something is 24 karat gold then it’s made of gold and nothing else – regardless of size… 

Gold is a relatively soft metal and high-karat gold tends to be easily damaged and, as such, a 24 karat item is usually reserved for display or ceremonial use as the picture of me with “my” 100kg. Canadian Maple Leaf 99.99999% pure gold coin which is now worth in excess of $3,500,000 USD! (100kg. x 32.1507466 troy oz. x $1,100/ozt. USD)

World's First 100-kg, .99999% Pure Gold Bullion Coin
munKNEE.com Editor-in-Chief Lorimer Wilson with the world’s first 100-kg, 99999 pure gold bullion coin with a $1 million face value. It was produced by The Royal Canadian Mint.

All jewellery is required by law to be stamped so consumers will know the quality of gold used. Jewellery made in North America is typically marked with the karat grade (10K, 14K, etc.), and jewelry made in Italy is typically marked with the “fineness” such as (417, 583, etc.). Most retail gold items have a karat rating in the range 9 to 18. In the U.S. the minumum karat value for an item to be sold as gold jewelry is 10. In the UK 9 karat is more common.

The number 24 may have originally been chosen to represent pure gold because it divides evenly by 2, 3, 4, 6, 8 and 12. Thus it’s easy to talk about a gold item being half pure (12 kt), 2/3 pure (16kt) etc. 9 karat would thus be 3/8 gold, 18 karat would be 6/8 (i.e. 3/4).

Definition of a “Troy” Ounce

A troy ounce (ozt) is a unit of imperial measure most commonly used to gauge the weight and therefore the price of precious metals.

One troy ounce is equivalent to 1.09714 avoirdupois (our conventional every day measurement) ounces i.e. 9.714% greater in weight and 1 kg. consists of 32.1507466 troy oz.

Please keep the distinction between ounces and troy ounces in mind when buying small quantities of gold and/or silver.

 Definition of “Carat”

The term “carat’ is used to describe the unit of weight of a gemstone, including diamonds, where 1 carat = 200 milligrams or 1/5 of a gram.

Smaller diamonds are often expressed as points, not carats, where 100 points = 1 carat (i.e. each point equals 0.01, or 1/100, of a carat).

Read More @ Munknee.com

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