In Philippines, we are too familiar with the use of units of measurement such as “tael” to talk about gold. However, in the world, Ounce (oz) is the most common unit of gold measurement. So what is Ounce? 1 Ounce is equal how many taels of gold?
Let’s find out through the following article!
Table of Contents
What is Ounce (OZ)?
Ounce (OZ) is one of many British measurement systems such as volume, mass, and weight. Ounces are most commonly used to measure volume and weight, and are also used to measure force.
Ounce is a universal unit of measurement
Oz appeared in England since 1185, is one of the most used units of measurement in the world. Currently, in the world, there are 5 different types of ounce units, namely:
- International troy ounce: used to measure the mass of gold, silver, and silver metals.
- International ovoirdupois Ounce: most used in the US.
- Maria Theresa ounce: used in European countries.
- Apothecary ounce: used by apothecaries, but has now been abolished.
- Metric Ounce: used to measure distances.
But the most commonly used are still international Ounce avoirdupois and international Ounce troy.
How many grams do 1 ounce equal to?
In 1958, the United States and the British Commonwealth of Nations agreed to define the international pound avoirdupois as exactly 0.45359237 kilograms and have 16 Ounces. As a result, since 1958, one international Ounce avoirdupois (oz) equals exactly 28.349523 grams by definition.
Conclusion: 1 Ounce = 28.349523 grams
Meanwhile, according to the ancient British system of measurement, one pound was equal to 12 ounces, now known as Ounce troy equal to 480 grains or 31.103476 grams or 1,09714 ounces avoirdupois.
We have a specific conversion table as follows:
|
Types of Ounce |
Mass by Gam | Mas by Grain |
|
Roman Empire ounce |
27,264 | |
|
France ounce before 1794 |
30,594 |
|
|
International avoirdupois ounce (usual measurement) |
28,3495231 |
437,5 |
|
International Troy ounce |
31,1034768 |
480 |
|
Ounce of apothecary |
||
|
Maria Theresa ounce |
28,0668 |
433,137 |
| Dutch metric ounce | 100 |
1.543,236 |
|
Note: Grain values for Maria Theresa, Netherlands ounces are rounded to the nearest thousandth of a grain. |
||
One ounce presents to how many taels of gold?
When using Ounce as a unit of measurement, we have the following results:
1 ounce = 31.103476 Grams.
We also know:
- 1 tael of gold = 10 mace of gold
- 1 mace of gold = 3.75 Grams
- 1 tael of gold = 37.5 Grams.
Therefore,
- 1 Ounce = 8,29426 mace of gold
- 1 Ounce = 0.829426 tael of gold
- 1 tael of gold = 1.20565302733 Ounces of Gold.
How much is 1 Ounce of Gold equal to USD?
This is a question that we cannot have an exact answer because foreign currencies such as USD (US dollar) are adjusted daily with each trading transaction, so it is necessary to update the gold price, the foreign exchange rate to get an exact price.
To convert 1 ounce of gold to USD, you need to consider:
- Monetary policy of countries
- Gold deposit interest rate
- Inflation status
- Current market price of gold
- The current gold demand of the market
Note when using Ounce to measure
Although Ounce is the most common unit of measurement in the world, in Philippines it has some differences and is rarely used to calculate the unit of gold and many precious metals in our country. In fact, Ounces (OZ) will be used when comparing domestic and international precious metal prices.
Conclusion
Although Ounce is the most popular unit of measurement in the world, it is still quite new in Philippines. Hopefully this article has provided enough information for you to understand this unit of measurement better.
See also: 1 yuan to Philippine Peso – Yuan to PHP – RMB to PHP
