What Is Troy Silver and How Is It Measured?

Silver, a precious metal, has held significant value throughout history, used for currency and adornments. Its unique properties make it indispensable across many industries. Specialized systems ensure accuracy in measuring valuable commodities, including “troy silver,” which defines the material and its precise quantity.

Defining Troy Silver

“Troy silver” refers to silver measured using the troy weight system, specifically in troy ounces. This unit of mass differs from the common avoirdupois ounce used for everyday goods. A single troy ounce weighs approximately 31.103 grams, about 10% heavier than an avoirdupois ounce (around 28.35 grams). The troy system applies exclusively to precious metals such as gold, silver, platinum, and palladium, standardizing their measure in global markets.

The “troy” in troy silver comes from Troyes, a medieval trading city in northeastern France. Merchants gathered there, needing a uniform weight system for fair commerce. The troy weight system was first adopted for gold and silver in England during the 15th century, later formalized in the British Imperial system. The United States adopted the troy system for coinage in 1828, establishing it as the standard for precious metals.

Characteristics and Purity

Silver, designated by the chemical symbol Ag, is a lustrous white metal. It exhibits exceptional physical and chemical properties, including the highest electrical and thermal conductivity among all metals, and the lowest contact resistance. Silver is also highly malleable, meaning it can be hammered into thin sheets, and ductile, allowing it to be drawn into fine wires.

Silver purity is expressed using a millesimal fineness system, indicating parts per thousand of pure silver in an alloy. Investment-grade silver is typically .999 fine (99.9% pure), or sometimes .9999 fine. Only silver with at least .999 purity is generally accepted for trading on metal and commodities exchanges.

For jewelry, silver is often alloyed with other metals, usually copper, to enhance strength and durability. Sterling silver, for example, is .925 fineness (92.5% pure silver).

Common Applications

Silver’s unique properties make it valuable across diverse applications. As an investment asset, silver is widely traded in forms such as bullion bars, rounds, and coins. These investment products are often sought for wealth preservation and portfolio diversification, particularly during market uncertainty.

Beyond investment, silver plays a significant role in industrial sectors. It is used in electronics for components like circuit boards, electrical contacts, and semiconductors found in modern devices such as smartphones and computers. Silver is also used in the solar energy industry, where silver paste is a core component in photovoltaic cells, converting sunlight into electricity. Furthermore, silver’s antimicrobial properties make it valuable in medical devices, wound dressings, and water purification systems. Silver is also traditionally used in jewelry and silverware, often as sterling silver for added hardness.