SKIMPING on their silver pandas

[StreetsOfGold]

No fan of these horrible coins but now it appears the Chinese are leading the charge with the new policy
One troy ounce is defined as exactly 31.1034768

"Beginning in 2016, the Chinese Panda series will come in standardized weights to match the metric system. This means the 1 oz Chinese Panda coins will be replaced with 30 gram coins. This change matches how the majority of the world weighs and trades Gold and Silver and means the 2016 issues are sure to be even more highly collected."

http://www.images-apmex.com/images/Catalog%20Images/Products/92384_Slab.jpg?v=20151215045617&width=900&height=900

[Joshua01]

No fan of these horrible coins but now it appears the Chinese are leading the charge with the new policy
One troy ounce is defined as exactly 31.1034768

"Beginning in 2016, the Chinese Panda series will come in standardized weights to match the metric system. This means the 1 oz Chinese Panda coins will be replaced with 30 gram coins. This change matches how the majority of the world weighs and trades Gold and Silver and means the 2016 issues are sure to be even more highly collected."

http://www.images-apmex.com/images/Catalog%20Images/Products/92384_Slab.jpg?v=20151215045617&width=900&height=900

The same has been happening to hide inflation in the US. The prices stay the same but the volume shrinks on just about everything these days

[madfranks]

Not a big deal, there are lots of gold and silver products weighed by grams instead of ounces. I personally think a 30 gram coin is a little strange, because I don't think anyone else makes them like that, but as long as the coin identifies the weight and purity, no biggie.

[ximmy]

I bought a tidy sum of 2015 Pandas... Hoping their value might rise as the last year of the one ounce Panda.

[Glass]

not the first time apparently. Was looking for the origin of Troy ounce but found nothing specific. Troy obviously conjures thoughts of the historical city of.


Currently in use

International avoirdupois ounce

The international avoirdupois ounce is defined as exactly 28.349523125 g under the international yard and pound (https://en.wikipedia.org/wiki/International_yard_and_pound) agreement of 1959, signed by the United States and countries of the Commonwealth of Nations (https://en.wikipedia.org/wiki/Commonwealth_of_Nations).
In the avoirdupois (https://en.wikipedia.org/wiki/Avoirdupois) system, sixteen ounces make up a avoirdupois pound (https://en.wikipedia.org/wiki/Pound_%28mass%29#Avoirdupois_pound), and the avoirdupois pound is defined as 7000 grains (https://en.wikipedia.org/wiki/Grain_%28unit%29); one avoirdupois ounce is therefore equal to 437.5 grains.
The ounce is still a standard unit in the United States, but in the United Kingdom (https://en.wikipedia.org/wiki/United_Kingdom) it is now only used informally, having ceased to be a legal unit of measure in 2000.[3] (https://en.wikipedia.org/wiki/Ounce#cite_note-3)

International troy ounce
Main article: Troy ounce (https://en.wikipedia.org/wiki/Troy_ounce)
A troy ounce (https://en.wikipedia.org/wiki/Troy_ounce) is equal to 480 grains (https://en.wikipedia.org/wiki/Grain_%28unit%29). Consequently, the international troy ounce is equal to exactly 31.1034768 grams. There are 12 troy ounces in the now obsolete troy pound (https://en.wikipedia.org/wiki/Pound_%28mass%29#Troy_pound).
Today, the troy ounce is used only to express the mass of precious metals such as gold (https://en.wikipedia.org/wiki/Gold), platinum (https://en.wikipedia.org/wiki/Platinum), palladium (https://en.wikipedia.org/wiki/Palladium), rhodium (https://en.wikipedia.org/wiki/Rhodium) or silver (https://en.wikipedia.org/wiki/Silver). Bullion coins (https://en.wikipedia.org/wiki/Bullion_coin) are the most common products produced and marketed in troy ounces, but precious metal bars also exist in gram and kilogram (kg) sizes. (A kilogram bullion bar contains 32.15074657 troy ounces.)
For historical measurement of gold,


a fine ounce is a troy ounce of pure gold content in a gold bar, computed as fineness (https://en.wikipedia.org/wiki/Fineness) multiplied by gross weight[4] (https://en.wikipedia.org/wiki/Ounce#cite_note-4)
a standard ounce is a troy ounce of 22 carat (https://en.wikipedia.org/wiki/Carat_%28purity%29) gold, 91.66% pure (an 11 to 1 proportion of gold to alloy (https://en.wikipedia.org/wiki/Alloy) material)


Metric ounces
Some countries have redefined their ounces in the metric system (https://en.wikipedia.org/wiki/Metric_system).[5] (https://en.wikipedia.org/wiki/Ounce#cite_note-5) For example, the German apothecaries ounce of 30 grams, is very close to the previously widespread Nuremberg ounce, but the divisions and multiples come out in metric.
In 1820, the Dutch redefined their ounce (in Dutch (https://en.wikipedia.org/wiki/Dutch_language), ons) as 100 grams (https://en.wikipedia.org/wiki/Gram).[6] (https://en.wikipedia.org/wiki/Ounce#cite_note-6)[7] (https://en.wikipedia.org/wiki/Ounce#cite_note-7) Dutch amendments to the metric system, such as an ons or 100 grams, has been inherited, adopted, and taught in Indonesia (https://en.wikipedia.org/wiki/Indonesia) beginning in elementary school. It is also listed as standard usage (https://en.wikipedia.org/wiki/Standard_language) in Indonesia's national dictionary, the Kamus Besar Bahasa Indonesia (https://en.wikipedia.org/wiki/Kamus_Besar_Bahasa_Indonesia), and the government's official elementary‐school curriculum.[8] (https://en.wikipedia.org/wiki/Ounce#cite_note-8)

Historical

Apothecaries' ounce
The obsolete apothecaries' (https://en.wikipedia.org/wiki/Apothecaries%27_system) ounce (abbreviated ℥) equivalent to the troy ounce, was formerly used by apothecaries (https://en.wikipedia.org/wiki/Apothecary).

Maria Theresa ounce
"Maria Theresa ounce" was once introduced in Ethiopia and some European countries, which was equal to the weight of one Maria Theresa thaler (https://en.wikipedia.org/wiki/Maria_Theresa_thaler), or 28.0668 g.[9] (https://en.wikipedia.org/wiki/Ounce#cite_note-9)[10] (https://en.wikipedia.org/wiki/Ounce#cite_note-10) Both the weight and the value are the definition of one birr, still in use in present-day Ethiopia and formerly in Eritrea.[citation needed (https://en.wikipedia.org/wiki/Wikipedia:Citation_needed)]

Spanish ounce
Further information: Spanish customary units (https://en.wikipedia.org/wiki/Spanish_customary_units)
The Spanish pound (Spanish (https://en.wikipedia.org/wiki/Spanish_language) libra) was 460 g.[11] (https://en.wikipedia.org/wiki/Ounce#cite_note-11) The Spanish ounce (Spanish onza) was 1⁄16 of a pound, i.e. 28.75 g.[12] (https://en.wikipedia.org/wiki/Ounce#cite_note-12)

Tower ounce
The Tower ounce of 450 grains was used in the English mints, the principal one being in the Tower of London. It dates back to the Anglo-Saxon coinage weight standard. It was abolished in favour of the Troy ounce by Henry VIII in 1527.

wiki (https://en.wikipedia.org/wiki/Ounce#International_troy_ounce)

[Glass]

Further thoughts. If this became more widespread, how would it affect people who were redeeming gold from certificate? Would they get short changed some 1.10xxx grams per ounce? They would if their redemption was based on ounce and not $$$ I guess. Does it affect them the other way?