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
United States customary units grain and ounce (apothecaries' has scruple and dram, troy has pennyweight, and avoirdupois has just dram, sometimes spelled "drachm"). The dram in avoirdupois weighs just under half of the dram in apothecaries'. The fluid dram unit of volume is based on the weight of 1 dram of water in the apothecaries' system. To alleviate confusion, it is typical when publishing non-avoirdupois weights to mention the name of the system along with the unit. Precious metals, for example, are often weighed in "troy ounces", because just "ounce" would be more likely to be assumed to mean an avoirdupois ounce. For the