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
Pennyweight the alternative drams and grains measurement has been used since a new set of scales was purchased by the Egton Bridge Old Gooseberry Society in 1937. As of 2018, the world record for the heaviest gooseberry of 41 dwt 11 gr was held by Kelvin Archer of Cheshire. The most common abbreviation for pennyweight is "dwt"; "d", for the Roman "denarius", was the abbreviation for "penny" before Decimalization of the British monetary system. Alternate abbreviations are "pwt" and "PW". Although the abbreviations are the same, the pennyweight bears no relation to the weight of the American penny nail. That name