Pennyweight is derived from the price for a hundred nails in 15th century England: the larger the nail, the higher the cost per hundred. The pennyweight also bears no relation to the weight of the American "penny" (1 cent) coin, which weighs 2.5 g (for those minted after 1982). Pennyweight A pennyweight (abbreviated dwt, from denarius weight) is a unit of mass that is equal to 24 grains, of a troy ounce, of a troy pound, approximately 0.054857 avoirdupois ounce and exactly 1.55517384 grams. In the Middle Ages, a British penny's weight was literally, as well as monetarily, of an ounce
Grain (unit) England, re-iterating decrees that go back as far as King Offa (eighth century). The tower pound was one of many monetary pounds of 240 silver pennies. The pound in question is the Tower pound. The Tower pound, abolished in 1527, consisted of 12 ounces like the troy pound, but was (~6%) lighter. The weight of the original sterling pennies was 22½ troy grains, or 32 "Tower grains". Physical grain weights were made and sold commercially at least as late as the early 1900s, and took various forms, from squares of sheet metal to manufactured wire shapes and coin-like weights. The