Systems of measurement
In the Anglo-Saxon system, troy ounce of gold is the conventional system of weighing gold. Though nowadays, people have converted to the metric system of grams, in case of trade the measurement is still in troy ounce and leading gold markets continue to use this system for expressing the weights and the price of gold. One troy ounce of gold is the equivalent of 31.1034807 grams.
Coins containing a troy ounce
The safest and most traditional form of investment in gold is in the form of bullion, and the one troy ounce of gold coins is the standard coin in the Western countries. This is the most effective method of buying gold as it can be easily traded in any market throughout the world. You can easily calculate your investment in this manner, as the markets throughout the world quote the prices in one troy ounce for. Most of the troy ounce gold coins are of 24 karat purity, which means they are .9999 purity. However, sometimes the South African Krugerands as well as the US Gold Eagle contain one troy ounce of gold and in addition, they also have some alloys in it, such as copper, which makes their weight a little more. Some of the coins are of the vintage type and are bought by collectors. The prices quoted on the online sites are based on the spot price reigning in the market that day.
Bars of Gold in troy ounce
You can also purchase the one ounce gold bars which are of 99.9% purity and are stamped to weigh exactly one troy ounce of gold. These are in the form of Australia’s Perth Mint Gold Ingot, or the Pamp Suisse Gold Ingot from Switzerland. They are certified and sealed with serial number. This is the most cost-effective of buying internationally recognized gold in a compact size. This is a very practical size to hold and can be easily traded in case of urgent need. These coins come in a standard thickness and dimensions. You can also buy the Pamp Suisse 100 gram coins which are of 3.125 troy ounce of gold. These are also 24 karat gold and have the purity of .9999 with certificate and serial number matching that imprinted on the gold bar.
It is especially advantages to invest in gold during times of economic recession, as it provides a safe haven. In such times of stress, other industries fail to provide youwith profits, but this is the only asset which will continue to remain upbeat. Gold can be the best hedge against inflation and is an excellent way of diversification of portfolio.