Thank you for the correction.
I assumed there were 12 Troy ounces per pound. It turns out this is correct for a Troy pound, which is much less than a standard pound!
Troy weight can be confusing (as is evident whenever there’s a thread on FR having to do with quantities of gold or other precious metals). The basic weight unit for both troy and avoirdupois systems is the grain, same grain for both. A troy ounce is 480 grains, but an avoirdupois ounce is only 437.5 grains. A troy pound, though, is 5,760 grains compared to 7,000 grains in an avoirdupois pound. Pretty much nobody uses troy pounds these days anyway.