(2042-42.22)*8000 tons*2000 pounds per ton*16 ounces per pound=$511,943,680,000.00.
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Not to pick nits, and I may be wrong because I don’t know exactly how gold is measured, but isn’t there something about gold being measured in troy ounces (avoirdupois?), so there’s only 12 troy ounces to a pound?
I kinda answered my own question:
“An avoirdupois ounce weighs 28.3495 grams, while a troy ounce weighs 31.1035 grams. It’s believed that this is a throwback to the historic importance of precious metals in trade markets, and merchants’ need to have a standard unit of weight for gold, silver, gemstones and the like.”
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Is not gold usually measured in troy ounces?
If I buy an ounce of gold from a dealer, am I getting an avoirdupois ounce or a troy ounce?
Avoirdupois is 16 oz/lb. Precious metals are weighed in troy ounces.
A troy ounce is 31.1 grams
An AV ounce is 28.35 grams (rounded)
1 ton = 29166.67 troy ounces.
8000 tons = 233,333,360 troy ounces
233,333,360 troy ounces x $2,042/ozt =
$476,466,721,120
Thx.
1 Troy Ounce = 1.097143 Ounces.
So maybe the party can be a little bigger.
Or last a little longer.
1 pound = 14.583 troy ounces
Gold is weighed in Troy ounces
I thought there was a there will be no math clause when we joined Free Republic.