What is pennyweight?
– Pennyweight is the common weight used in the valuation of precious metals. A pennyweight (dwt) is a unit of mass, which equals 1/20th of a troy ounce, approximately 0.055 avoirdupois ounce, or approximately 1.555 grams. Historically, a “penny’s weight” was literally (as well as monetarily) 1/240th of a troy pound of sterling silver. Jewelers use the pennyweight in their calculations for creating jewelry pieces. It is the common weight used in the valuation of precious metals. While “dwt.” Is the most common abbreviation for pennyweight (“d” for “penny” and “wt” for “weight”) some sources list “pwt.” as an alternative.
After determining quality and purity, www.GoldBuyerPartyPlanner.com gold buying experts measure your gold not by the gram but by the pennyweight. A pennyweight (dwt) is a unit of mass, which is the same as 24 grains, 1/240th of a troy pound, 1/20th of a troy ounce, approximately 0.055 ounces, or approximately 1.555 grams. It is the standard to which most precious metals are weighed.
