Calculating Gold Price Per Gram and Grain

Calculating Gold Price Per Gram and Grain

Gold has been an international measure of wealth virtually since the dawn of history and a monetary standard for well over a millennium. Gold weights and value are expressed according to the custom of each culture and era. 

Measuring every gold price per gram is not just a matter of the metric system, since gold is so valuable that even a single grain is worth something.

 Gold price per gram and grain in detail

The grain was the legal foundation of traditional English weight systems. The unit was based on the weight of a single grain of barley and it is equal throughout the troy, avoirdupois, and apothecaries’ systems of mass. Since the implementation of the international yard and pound agreement of 1 July 1959, the grain or troy grain measure has been defined in terms of units of mass in the International System of Units as precisely 64.79891 milligrams, so 1 gram is approximately 15.4323 grains.

The grain was used by jewelers to measure the weight of precious stones and was called the jeweler’s grain or pearl grain; it is equal to 14 of a carat. Gold foil, used in dentistry as a material to restore teeth is measured in grains and miniscule 1 troy grain gold pieces can be found in many collections. One grain of pure gold is worth $2.60 with the spot price of gold at $1,250 per troy ounce.

The gold content of the British gold Sovereign was fixed by the coin act of 1816 at 7.32 grams, nearly 113 grains. This weight has remained practically constant to the present day while the standard of a US gold dollar (23.22 grains of pure gold) only barely changed from 1792 to 1933, was hugely inflated from 1933 to 1972, at which time it was abandoned entirely. The accelerating devaluation of the US dollar since 1972 is the very reason that gold today is more important than ever.

Gold spot price

At the same spot price, one gram of gold is worth $40.2 or £24.6. One gram gold bars and coins are tremendously popular with gold aficionados as they carry a symbolic value and present a brilliant token gift for novice investors or gold coin collectors. At coininvest.com you will find four different options for one gram gold mini bars, perfect for every occasion. You will also be impressed by a number of  extremely beautiful miniature coins such as the Australian “Mini Roo” gold Kangaroo, weighing  0.5 g., the 2014 1/20oz Gold (1.55 g) Lunar Horse, as well as the 120 oz. Canadian Maple Leaf and China Panda bullion coins .

When buying gold in miniature quantities remember that the abbreviation “g” is used for grams while the symbol “gr” stands for grains. A charming example of a miniature coin is the 1 gram Goddess Lakshmi pure gold coin depicting the Hindu Goddess of wealth, prosperity and fortune. Also known as Mahalakshmi, wife of Vishnu, she is believed to protect her devotees from all kinds of misery and money-related burdens.