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If you have ever followed the gold and jewelry news, you must know words like an ounce, gram, and mithqāl. When listening to the news on gold and jewelry, you may have noticed reports on a raise in the global ounce price, the unit which is heard more frequently in international transactions. Unlike ounce, gram is more often used in Iran. In this article, we will discuss the differences between an ounce and a gram to provide you with a better understanding of these two concepts.
Before discussing the differences between an ounce and a gram, it will be useful to introduce each item separately since if you know them wee, it will be much easier to talk about the differences.
What is an ounce?
An ounce is a gold weight measurement unit, which is usually represented as oz. This unit which is currently used for many precious metals such as gold, silver, palladium, platinum, and rhodium, was initially used in ancient Rome only. It was gradually introduced to other countries of the world and today is used as the main measurement unit in many European and American countries.
It may be interesting for you to know that ounce has different meanings. In other words, there are different definitions of an ounce each of which is for one special area of the world. What follows are various interpretations of an ounce all over the world.
| equivalent (gram) | Ounce |
| 28.0668 | Maria Theresa |
| 28.75 | Spanish |
| 50 | Chinese Metrics |
| 100 | Dutch metrics |
| 31.10343 | Trava or Troy |
The above table shows the definition of an ounce in different parts of the world. Each of these definitions is applicable in one or some countries and can be used for several purposes.
However, the term which is widely used these days is the troy ounce which equals 31.10343 grams. This unit which is still known as the Roman currency equals a piece of 24 karat gold of this weight with a purity level of 99.99%. The number, however, is quite arbitrary and a piece of gold with such a level of purity is too soft.
How Much is a Gram of Gold?
In comparison with «ounce», gram sounds a lot more familiar to us. We have heard this term billions of times when buying groceries, and you definitely know that each gram is 0.001 of a kilogram.
Gold is bought and sold in grams in Iran. Though many people doing business in the international markets use ounce as the unit of weight, the unit that people normally use for buying and selling gold is the gram.
How Much Does Mithqāl Weigh?
You might have heard the term mithqāl when buying gold, jewelry, saffron, and medical herbs. There are different interpretations in the case of mithqāl as well. however, the amount that is used in jewelry stores is Seirafi mithqal and equals 4.6 grams. In old days, when there were no scales, each mithqal equaled 18 peas.
5 Differnces between Ounce and Gram as Weight Units
According to the definitions which were just mentioned, the differences and similarities of these two units of measurement were described to some extent. From a general point of view, there are 5 differences between an ounce and a gram as units of measurement which are as follows.
1- The Amounts of an Ounce and a Gram
As mentioned, each troy ounce equals 31.10343 grams. Therefore, this is the first remarkable difference between these two units of measurement. In fact, the weight and content that these two units represent. Each ounce is 31 times heavier and of course bulkier than a gram. therefore the first difference between these two is in their amounts
Ounce and Gram Use
If you have ever sold or bought gold in a jewelry store in your city, you must know that to buy a piece of gold you will be dealing with grams, which, as explained before, is a lot less than grams. Thus the second difference between an ounce and a gram is about how frequently they are used.
The Difference in the Amounts of Two Types of Ounce
According to the table which was mentioned in the same article, there are different interpretations of how much an ounce is. For example, the ounce which is frequently used in international affairs like trade and commerce comes to one-sixteenth of a pound or 400 millets which actually equals 28/349523125 grams. The same unit is used in the case of gold and jewelry however in that case each ounce equals 31.10343 grams. Gram, on the other hand, is a globally known unit of measurement and is considered 0.001 of a kilogram. Thus the difference between an ounce and a gram lies in the constant amount of a gram and the changing amount of an ounce.
The High Level of Purity of Ounce
As mentioned before, the troy ounce is used as a unit for gold weight measurement. It was also mentioned that every ounce weighs 31.10343 grams of 99.99% pure gold. But as mentioned in previous articles, pure gold is too vulnerable that can’t be used for making jewelry. As result, they use 18 karat gold, which is not as pure as 18 karat gold. Therefore, the high purity level of an ounce is another difference between an ounce and a gram.
The Uses of an Ounce
With regard to item number 4, an ounce is of a high purity level which is why it is normally packed and vacuumed for giving as a gift, Gold in grams, on the other hand, can be bought both as ornaments and vacuumed pieces. The fifth point of diversity between an ounce and a gram is thus in the frequency of using a gram as a unit of measurement.
After discussing the differences between an ounce and a gram, we should find out the effect of this international unit of measurement on our transactions and how we can calculate the price of gold with regard to the global price.
Changing Ounce Price to Mithqal
You have heard the term«global price» on the news several times. Sometimes even without any changes in global gold prize we may experience a raise or a reduction in the gold price in Iran. Thus the changes in the gold price in Iran depend largely on the changes in the Dollar exchange rate.
To change an ounce to a mithqal, you need t know these units of measurement well and know the difference between an ounce and a gram. With a fast review of the concepts that have been mentioned in this article, you will remember that every ounce equals 31.1034768 grams and every mithqal represents 4.608 grams. The formula you can see below helps us do this conversion easily.
Another point you should take into account is that every time you need to calculate the ounce and mithqal price, 24 karat gold is considered as 1000 due to its purity and the 17 karat gold which is used to manufacture jewelry here in Iran is 705% pure gold. 17 karat gold, is the gold in every 1000 grams of which, you can find 705 grams of gold. Or if we think of 100 as the whole, the gold karat will be 70.5. But in comparison with 18 karat gold which has a purity level of 750, it has a lower purity level. We may, at times, consider melted gold as 17 karat gold. In calculating the ounce to mithqal rate, we take advantage of the same number.
In one of EG articles titled «How to Distinguish Gold Karat», we have discussed this subject thoroughly. In one of EG articles titled «How to Distinguish Gold Karat», we have discussed this subject thoroughly.
Conclusion
In this article, we discussed the difference between the gold gram and ounce and elaborated on different types of ounces. It was mentioned that the ounce was used in ancient Rome for the first time and that is why is named Troy ounce. Gram is also a familiar concept to us and we all know that every kilogram equals 1000 grams. After mentioning five differences between the ounce and gram, we discussed the method for changing an ounce to a mithqal and explained each of the numbers used in this formula. Finally, we invite you to visit the attractive and unique pieces of gold at EG jewelry store.
