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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (45113)	7/17/2007 4:08:13 PM
From: mimur	Read Replies (1) \| Respond to of 78408

20 penny weight / ounce...i was at a remote bush camp accesible only by river in Guyana recently..no paper...all goods and services priced in penny weight....looking at the inflated prices there was obviously more gold than fried chicken,rice, women and cold beer in the district

To: Canuck Dave who wrote (45113)	7/17/2007 4:20:18 PM
From: E. Charters	Respond to of 78408

The penny was silver, not copper. It was a pound sterling. 240 silver pennies to the pound sterling. 20 pennies to the troy ounce. 12 troy ounces to the troy lb, or the pound sterling. same thing. The pound sterling today would be worth $162.00 pennyweight (dwt): The pennyweight was the weight of a silver penny in medieval England. It is no coincidence that there were 240 pennies to the English pound. 240 silver pennies were equivalent to a pound of silver. The word sterling applies both to the English pound and to the standard purity of silver. 1 pennyweight = 24 grains (dwt) (1 old time French penny) 1.55 grams = 1 pennyweight (dwt) 20 dwt = 1 troy ounce 240 pennyweights = 1 pound troy 24 grains=1 dwt 1 pennyweight =.05 troy ounce 1 gram=.643 pennyweight ******************************************************