Baby Boomer Pocket Change

How Much Does Your Gold Weigh? How Do You Really Know?

I just found out this week that if someone brings in coins that have a precious metal value  for  redemption that the weight is measured in something called troy ounces. This measurement is different from the ounces used for food. But it is important for you to know the measurements of coins if you ever plan to cash them in.

I wish I had some to cash in but for now I must be content in knowing that I can always refer to this post. That is another  reason I set up this site in all honesty.  Check out this excerpt on Wikepedia:

The demand for precious metals is driven not only by their practical use, but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals. In January 2009, gold was about $840/troy ounce and silver was about $11/troy ounce, compared to copper at $1.50/pound and nickel at $5/pound. (soure:Wikepedia)

So I am listing a couple of references for review. Why? Because if you are getting precious metal weight YOU DON’T WANT TO GET CHEATED. Believe it or not everyone is just not honest.

Troy ounces vs the ounce you you weighed your apples

News item about gold scams and how penny weights are used

How  to sell gold

Do you have anything to add?

Tags: coins, gold, silver, troy weight