Pennyweight to Grams: Compare Gold Buyer Quotes
One pennyweight equals exactly 1.55517384 grams. To convert pennyweight to grams, multiply by 1.55517384; to convert grams to pennyweights, divide by that number. When comparing gold buyer quotes, also match purity, payable weight, fees, and timing. The highest advertised rate does not necessarily produce the largest payment.
What Is a Pennyweight?
A pennyweight is a unit of mass in the troy system, commonly abbreviated dwt. It measures weight, not gold purity or dollar value. A buyer quoting dollars per pennyweight is using a different unit from a buyer quoting dollars per gram.
NIST’s precious-metal conversion chart establishes that 20 pennyweights equal one troy ounce. Its conversion information is designed to help consumers compare transactions expressed in different units. [1]
An item weighing 10 dwt therefore weighs approximately 15.5517 grams. Switching the scale between those units does not change the amount of metal on it.
How to Convert Pennyweight to Grams
Use these formulas:
Grams = pennyweights × 1.55517384
Pennyweights = grams ÷ 1.55517384
| Pennyweights (dwt) | Grams (g) |
|---|---|
| 1 dwt | 1.5552 grams |
| 5 dwt | 7.7759 grams |
| 10 dwt | 15.5517 grams |
| 20 dwt | 31.1035 grams |
Retain the full conversion factor while calculating and round the final result. For a wider weight reference, see Agate’s troy-ounce conversion guide .
Weight and Gold Content Are Different
A 10 dwt jewelry item is not necessarily 10 dwt of pure gold. The Federal Trade Commission explains karat purity as parts of gold out of 24. For example, 18K represents 18 parts gold, while 14K represents 14 parts. [2]
A theoretical melt calculation for a homogeneous gold alloy is:
Estimated gold value = payable alloy weight in dwt ÷ 20 × gold purity fraction × gold reference price per troy ounce
For illustration, assume 10 dwt of metal has nominal 14K purity, contains no stones or other excluded material, and the hypothetical gold reference is $3,000 per troy ounce:
10 ÷ 20 × 14 ÷ 24 × $3,000 = $875
That is an illustrative metal-value calculation, not an offer. The actual assessment must use the accepted metal weight and appropriate purity. A marked fineness of .585 and the nominal fraction 14/24 are not mathematically identical.
Do not treat the weight of stones, filling, or unrelated components as gold. Do not multiply by purity a second time if a quote already pays a stated rate for that specific alloy. Agate’s gold melt-value guide explains these distinctions in more detail.
Convert the Price Unit Before Comparing Offers
A price per pennyweight will look larger than an equivalent price per gram because a pennyweight is heavier.
Price per gram = price per dwt ÷ 1.55517384
Price per dwt = price per gram × 1.55517384
These conversions are meaningful only when both rates apply to the same material. A quote for each gram of verified 14K alloy cannot be compared directly with a reference price for each gram of pure gold.
A Worked Example: Which Buyer Pays More?
Assume two buyers accept the same 10 dwt lot, agree on its purity, and quote at the same time. Their rates already account for that purity. The figures below are hypothetical.
| Quote detail | Buyer A | Buyer B |
|---|---|---|
| Offered rate | $50 per gram | $80 per pennyweight |
| Accepted weight | 15.5517384 grams | 10 dwt |
| Gross offer | $777.59 | $800.00 |
| Disclosed fee | $10.00 | $35.00 |
| Net proceeds | $767.59 | $765.00 |
Buyer B has the higher gross offer, but Buyer A pays $2.59 more after the stated fees. A shipping charge, different accepted weight, or changed quote could alter the result.
Compare the complete written settlement rather than a rate displayed on a sign.
What a Useful Written Quote Includes
Before accepting an offer, request:
- The item or lot being evaluated.
- The accepted weight and unit.
- The purity used and how it was determined.
- The rate, currency, and whether it applies to alloy weight or fine gold.
- Any spot-price reference, timestamp, and price-lock conditions.
- Testing, shipping, refining, or transaction deductions.
- The estimated net payment and payment timing.
- Return terms if you decline a revised offer after inspection.
Use Agate’s gold-dealer selection guide to assess the business behind the quote. A clear calculation matters, but so do documented identity and transaction terms.
Which Comparison Fits Your Situation?
| Item type | What to compare |
|---|---|
| Plain scrap jewelry | Compare the same verified alloy weight and purity after deductions. |
| Signed, antique, or gemstone jewelry | Consider a separate jewelry valuation before accepting a melt-based offer. |
| Bullion | Request a bid for the exact coin or bar because product recognition and demand may affect the offer. |
If buyers disagree about purity or payable weight, resolve that disagreement first. Converting the units cannot correct different assumptions about the material.
Frequently Asked Questions
How many grams are in one pennyweight?
Exactly 1.55517384 grams. Approximately 1.5552 grams is suitable for a displayed comparison, while calculations should retain the full factor.
Is a pennyweight the same as a gram?
No. One pennyweight is heavier than one gram. Neither unit tells you an item’s purity.
How many pennyweights are in a troy ounce?
There are 20 pennyweights in one troy ounce.
Why does one buyer quote per gram and another per pennyweight?
They are using different weight conventions. Convert both offers to the same unit and confirm they apply to the same purity and payable weight.
Should I multiply a 14K buyer quote by 14/24?
Not if the buyer has already quoted a payable rate specifically for 14K alloy weight. Ask how the rate is defined before applying another purity adjustment.
Does melt value equal what a dealer will pay?
Not necessarily. It is a reference calculation. The actual offer depends on the item, testing, costs, market conditions, and the buyer’s terms.
Related Agate Guides
Sources and Review
- [1] NIST — Conversion Factors for Precious Metal Sales (PDF)
- [2] FTC — Buying Platinum, Gold, and Silver Jewelry
Sources and calculations checked . All prices are hypothetical educational examples, not current Agate offers. This guide does not authenticate or appraise an item.