Pound (mass) for the weight of certain precious metals, especially in the trade; these are normally quoted just in ounces (e.g. "500 ounces") and, when the type of ounce is not explicitly stated, the troy system is assumed. Historically, the pound sterling was a Tower pound of silver. In 1528, the standard was changed to the Troy pound. The avoirdupois pound, also known as the wool pound, first came into general use c. 1300. It was initially equal to 6992 troy grains. The pound avoirdupois was divided into 16 ounces. During the reign of Queen Elizabeth, the avoirdupois pound was redefined as
History of pound sterling in Oceania Papua New Guinea also used the Australian pound, while territories under New Zealand jurisdiction, such as Western Samoa and the Cook Islands, as well as the Pitcairn Islands used the New Zealand pound. Hence there were now a total of three different pound units in use in the Australasian and Pacific region, none of them being equal to the pound sterling. There was the Australian pound, the Fijian pound, and the New Zealand pound. However, the New Zealand pound, as stated above, did return to parity with the pound sterling in 1948. History of pound sterling in Oceania The pound