Hello there and welcome,
You know I often get asked, what’s the difference between an ounce of gold and an ounce of silver -- physically that is. I don’t know if you’ve ever had the pleasure of investing in either of those precious metals but when you’re holding both of them together next to each other you’ll notice a considerable difference in size.
It all comes down to the specific gravity of both metals. Gold has a specific gravity of 19.32 grams per cubic centimetre, and silver is 10.49 grams per cubic centimetre. So, when you’re actually holding the two together, you’ll see that silver is almost twice the size of gold. And, just to put things into perspective for you, an ounce of silver may appear like this. This coin from the Empire Bullion Mint is approximately 31 millimetres in diameter and it weighs 31.105 grams which is one troy ounce of silver. And, then, we have an ounce of gold as you can see it’s considerably smaller, half the size, it still weighs 31.105 grams and above, and it has a diameter of 25 millimetres.
Another interesting fact is how you measure precious metals now the traditional ounce is 28.8 grams which is the imperial system. But, when you’re measuring precious metals, you measure it in troy ounces. One troy ounce is 31.105 grams.
If you’re a new investor into precious metals, one thing that you should take note of is the fluctuation in market prices of gold and silver. You can go visit your local bullion dealer today and buy yourself a kilo of silver for approximately one thousand one hundred dollars, but then if you go back to the same shop tomorrow, you’ll probably find that price would be one thousand two hundred dollars.
I hope you found this educational piece on precious metals valuable, and you have an amazing day. Bye.