Dollar gold to silver ratio be exactly 15.5. Then a pennyweight of gold, that is 24 grains of gold, is nearly equal in value to a dollar of silver (1 dwt of gold = $1.002 of silver). Second, a dollar of gold is nearly equal in value to a pound of silver ($1 of gold = 5754 3/8 grains of silver = 0.999 Lb of silver). Third, the number of grains in a dollar (371.25) roughly equals the number of grams in a troy pound (373.24). The actual process of defining the US silver dollar had nothing to do with any
Troy weight was based on the tower pound, which is of a troy pound.) The "d" in "dwt" stands for "denarius", the ancient Roman coin that equates loosely to a penny. The symbol "d" for penny can be recognized in the notation for British pre-decimal pennies, in which pounds, shillings, and pence were indicated using the symbols "£", "s", and "d", respectively. For example, "£6 11s 8d" indicated six pounds, eleven shillings, and eight pence. Mint weights, also known as "moneyers' weights" were legalised by Act of Parliament dated 17 July 1649 entitled "An Act touching the monies and coins of England".