Convert Pennyweights to Troy Ounces

Convert Pennyweights (dwt) to Troy Ounces (ozt) instantly and accurately.

Conversion Formula

ozt = dwt × 0.05

About Pennyweights

A pennyweight (dwt or pwt) equals 24 grains or 1/20 of a troy ounce - approximately 1.555 grams. Its name derives from the weight of an English silver penny in the medieval period. Pennyweights are the standard unit used by jewellers and goldsmiths in North America for weighing precious metals: gold, silver, and platinum. When a jeweller quotes the gold weight of a ring or chain, they typically use pennyweights. Gold buyers, refiners, and scrap metal dealers quote prices per pennyweight (often abbreviated 'DWT') when appraising jewellery.

About Troy Ounces

The troy ounce (ozt or oz t) is the global standard for weighing and pricing precious metals - gold, silver, platinum, and palladium. Equal to 31.1034768 grams (about 10% heavier than the avoirdupois ounce), it originates from the medieval fair at Troyes, France, where a standardised weight system facilitated international trade. All gold spot prices quoted on financial markets (LBMA, COMEX, MCX) are priced per troy ounce. A standard 'Good Delivery' gold bar approved by the London Bullion Market Association weighs approximately 400 troy ounces (12.4 kg).

Quick Reference Table

→ Full Weight Converter