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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.90

+0.9%

Nov 18 4:00 PM EST

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To: IngotWeTrust who wrote (75317)	8/20/2001 2:02:33 PM
From: E. Charters	Read Replies (3) of 116762

Actually I keep forgetting. It's 31.1029 grams to the Troy ounce and 12 ounces to the Troy pound. A 100 pound gold brick is about 80 pounds avoirdupois. Troy is American apothecary weight. There are 5760 grains to the Troy pound. 480 grains to the T ounce and 20 pennyweights to the same Troy ounce. An assay ton is a 29.167 gram ore sample. It is so arranged that a one milligram gold bead per assay ton is equal to the ratio of one Troy ounce to the short ton of 2000 pounds avoirdupois. (16 ounce pounds of 28.349 grams each ounce) There are 29167 Troy ounces in the short ton, hence the weight of the assay ton. Watch out for the long ton of 2240 pounds usually used to measure Iron. The British used to measure their gold in pennyweights to the long ton. That assay measure, if you reflect briefly is always larger than the ounces per short ton for the same concentration. They also used to measured assays in dollars per long ton back in the 20's up to the 50's and dollars US per short ton. So an assay of 12.60 is twelve dollars sixty per short ton usually. Metric tonnes are 2204 pounds. If gold is measured in grams per tonne it is the same as parts per million as there are one million grams per tonne metric. One part per million is .029167 ounces per ton. Gold can also be measured in Giffels per Pingotwaby. Don't expect Bill Jackson to know much. Once in a while he wanders away from home and his daughter has to go find him to lead him back. He used to be able to tie his shoelaces. I think he went to school for that. EC<:-}

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