A pennyweight is a unit of mass equal to 24 grains, 1⁄20 of a troy ounce, 1⁄240 of a troy pound, approximately 0.054857 avoirdupois ounce and exactly 1.55517384 grams. It is abbreviated dwt, d standing for denarius – an ancient Roman coin, later used as the symbol of an old British penny.

What is the difference between gram and pennyweight?

Here is the trick; a pennyweight weighs 1.514 grams or roughly one and a half gram. Now for customers of cash for gold who want to sell gold, gold prices displayed in pennyweights (DWT) may appear much higher than prices displayed in grams. Naturally the reason for this being that a pennyweight weighs more!

How much is a pennyweight of gold worth?

The current stock price per pennyweight for pure gold is $87.69. The current purchase price for pure gold is $83.39 per pennyweight. One pennyweight (dwt) equals 1.555 grams and 1/20 troy ounce.