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
Comparison of the imperial and US customary measurement systems "troy pound" () on January 6, 1879, leaving only the "troy ounce" () and its decimal subdivisions, whereas the troy pound (of 12 troy ounces) and pennyweight are still legal in the United States, although no longer widely used. In all the systems, the fundamental unit is the pound (lb), and all other units are defined as fractions or multiples of it. The tables of imperial troy mass and apothecaries' mass are the same as the corresponding United States tables, except for the British spelling "drachm" in the table of apothecaries' mass. The table of imperial avoirdupois mass is the