THE SHORT ANSWER
One pennyweight is one twentieth of a troy ounce, before purity or payout
One pennyweight (dwt) equals 1.55517384 grams, 24 grains or exactly 1/20 of a troy ounce. Fine-gold price per dwt is therefore the same-time troy-ounce reference divided by 20. Jewelry and scrap require two more steps: apply the verified purity to the gross dwt, then compare any cash offer separately from contained-metal value.
Exact troy-weight conversion.
Also 480 grains.
Before Karat or dealer payout.
Use the verified item mark or assay.
LIVE DWT CALCULATOR
Convert pennyweight to grams, fine gold and source-labelled value
The default starts with one fine-gold pennyweight in USD. Choose 14K as 583.333 fineness, enter a documented 585 mark as 585, or select another verified purity. Currency, provider, observation time, share link and CSV stay attached to the same calculation.
Price reference
Shows the source and observation time of the metal price used here. Product premiums, dealer quotes and taxes are separate.
- Source
- No provider
- Observed
- Observation time unavailable
- Age
- Checking age…
- Delivery
- No data layer available
Checking the current market reference.
Apply fineness after converting mass
Weight conversion does not change purity. Enter the item's fineness to calculate contained gold and a live metal reference.
One input across all supported units
| Unit | Equivalent | Grams per unit | Definition |
|---|---|---|---|
| MilligramMetric · mg | 1,555.17384 mg | 0.001 g | One thousandth of a gram. |
| GramMetric · g | 1.55517384 g | 1 g | SI metric reference unit used by this calculator. |
| KilogramMetric · kg | 0.00155517384 kg | 1,000 g | 1,000 grams. |
| GrainTroy · gr | 24 gr | 0.06479891 g | 1/480 of a troy ounce. |
| PennyweightTroy · dwt | 1 dwt | 1.55517384 g | 24 grains or 1/20 troy ounce. |
| Troy ounceTroy · oz t | 0.05 oz t | 31.1034768 g | Precious-metals ounce; not the ordinary ounce. |
| Troy poundTroy · lb t | 0.004166666667 lb t | 373.2417216 g | 12 troy ounces. |
| Ordinary ounce (avoirdupois)Avoirdupois · oz av | 0.054857142857 oz av | 28.349523125 g | The common household ounce; not a troy ounce. |
| Ordinary pound (avoirdupois)Avoirdupois · lb av | 0.003428571429 lb av | 453.59237 g | 16 ordinary ounces. |
| TolaSouth Asia · tola | 0.133333333333 tola | 11.6638038 g | Reference convention: 3/8 troy ounce. |
| Vori / BhoriSouth Asia · vori | 0.133333333333 vori | 11.6638038 g | Bangladesh market name using the calculator's tola-equivalent convention. |
| Hong Kong troy taelEast Asia · HK tael | 0.041549970344 HK tael | 37.429 g | Hong Kong precious-metals troy tael. |
| Hong Kong troy maceEast Asia · HK mace | 0.415499703439 HK mace | 3.7429 g | 1/10 Hong Kong troy tael. |
| Taiwan taelEast Asia · TW tael | 0.0414713024 TW tael | 37.5 g | Regional 37.5-gram convention; do not substitute for Hong Kong tael. |
| Thai baht weight — bullionThailand · baht bar | 0.102018750984 baht bar | 15.244 g | Thai gold-bar weight reference. |
| Thai baht weight — jewelryThailand · baht jewelry | 0.102584026385 baht jewelry | 15.16 g | Thai gold-jewelry weight reference; differs from bullion. |
A calculated match does not verify a scale, hallmark, fineness or product. For a material transaction, confirm the unit convention printed on the quote and use a suitable calibrated scale.
TROY RELATIONSHIPS
Dwt is a mass unit, not another name for a gram or ordinary ounce
Using an ordinary ounce in a precious-metal calculation creates a material error. Record the scale mode and write “dwt” or “oz t” rather than an unlabeled “oz.”
KARAT PRICE LADDER
Each Karat row is a fraction of the fine-gold dwt price
A 14K calculation and a 585-fineness calculation are close but not identical. Use the representation documented for the actual item; do not silently replace a stamped fineness with a rounded Karat fraction.
QUOTE AUDIT
Translate a buyer's dwt offer into comparable economics
Exclude stones and identifiable non-gold parts.
Hallmark, construction mark or assay.
Currency, provider and observation time.
Cash amount after every stated deduction.
Offer ÷ calculated melt value × 100.
Ask whether the scale reading is gross or eligible gold-alloy weight, how purity is tested, which market price is used, when the quote expires, and whether assay, refining, shipping or payment charges are still deducted.
ITEM BOUNDARIES
Not every yellow-metal dwt is solid gold available for melting
The Federal Trade Commission Jewelry Guides emphasize truthful representation of metallic content, weight and product construction. Treat an unclear mark as unresolved rather than inventing precise purity.
METHOD & PRIMARY SOURCES
The conversion is exact; the transaction adjustments are not universal
- NIST precious-metals conversion information for 1 pennyweight = 1.55517384 grams and the troy-ounce relationships.
- Federal Trade Commission Jewelry Guides for truthful descriptions of precious-metal content, weight and construction.
- GoldObserve data methodology for price-provider validation, unit normalization, freshness and unavailable states.
GoldObserve supplies a contained-metal reference, not an assay, appraisal, dealer quote or guaranteed payout. It does not publish a fabricated “fair dealer percentage”; commercial costs and risks differ by item and counterparty.
RELATED TOOLS
Move from one dwt to a complete selling worksheet
FAQ
Gold price per pennyweight questions
How many grams are in one pennyweight of gold?
One pennyweight is exactly 1.55517384 grams under the troy-weight conversion used by NIST. There are 20 pennyweights in one troy ounce.
What does dwt mean on a gold scale or quote?
Dwt is the abbreviation for pennyweight. In this context it is a unit of mass, not a purity, currency, price or dry-weight instruction.
How do I calculate gold price per pennyweight?
For fine gold, divide the source-labelled price per troy ounce by 20. For alloy gold, multiply that fine-gold pennyweight value by the verified purity fraction.
How much pure gold is in one pennyweight of 14K gold?
Using the exact karat fraction, 14K is 14/24 pure, so one gross pennyweight contains about 0.90718474 grams of fine gold. A documented 585 fineness item instead uses 0.585.
Is pennyweight the same as a gram?
No. One dwt is 1.55517384 grams, while one gram is about 0.64301493 dwt.
Is pennyweight part of the troy system?
Yes. One pennyweight is 24 grains, one troy ounce is 20 pennyweights or 480 grains, and one troy pound is 12 troy ounces.
Why is a buyer offer below the calculated dwt value?
The calculated result is contained-metal value. A buyer may deduct for testing, refining, non-gold material, logistics, payment timing and margin. Compare the offer as a percentage of melt using the same item and timestamp.
Should antique or branded jewelry be sold for melt?
Not automatically. Maker, age, design, stones, condition and provenance can create value above metal. Obtain an appropriate appraisal before treating a potentially collectible object as scrap.