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What is Troy Ounce?

Crypto Terms Glossary: What is Troy Ounce?

The troy ounce is the global standard for measuring the weight and implied purity of precious metals. One troy ounce is equal to approximately 31.1 grams, in contrast to the standard ounce which is 28.35 grams, and this unit of measure is commonly abbreviated as either "t oz" or "oz t."

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