What Does DWT Mean in Gold Terms

If you’re looking to sell scrap gold online, you may have run across the abbreviation DWT. With various different terms describing gold, such as karat weight, you may be wondering what DWT means in gold terms?

What Does DWT Stand For?

DWT stands for pennyweight. It is used as a value of measurement. If you have seen DWT in jewelry listings or gold items listings, this is because it is used to measure precious metals.

What Is Pennyweight?

Pennyweight is a measurement for gold. Why is this used if we already have grams for weighing and measuring?

Why Are Jewelers Weighing Gold in Pennyweight?

Pennyweights are much smaller units than ounces. As many articles made of gold, such as jewelry, are small and light, this unit measurement allows for easy calculation and pricings for different karat weight items of precious metals.

How to Calculate Gold Price per Pennyweight

Calculating the pennyweight of a gold item is fairly simple. First, you divide the number of karats of the item by 24 and multiply that number by the weight of your jewelry. Take this new number and multiply it by 20, leaving you with the item’s pennyweight.

How Many Pennyweights Are in One Ounce?

An ounce is roughly equivalent to 18.2 pennyweights. If you know the ounces of gold in an item, you can multiply that number by 18.229 to receive an approximate conversion weight to pennyweight.

How Much Is a Pennyweight of Gold Worth?

Gold prices are constantly changing; however, nearly every jewelry and gold buyer will be able to give you a price of gold per pennyweight. You can check out our prices for gold by pennyweight or use our calculator on our prices page to see an estimated value of how much cash you can get for your gold!

How to Get Cash for Your Gold

At GoldFellow, we provide you with the means to sell your gold online, sell your gold through the mail, and you can come to our in-store location.

We provide fair pricing and post our past payouts for your viewing. Our process is fairly simple and is both secure and quick. We will evaluate your item either in front of you in our store, or we can do the valuation under video surveillance if you choose to mail it in. Our valuation is obligation-free, and if you are not satisfied with our price, we will give back, or ship back, your item at our own cost!

The conditions of your items do not matter. We buy any items made of karat gold, sterling silver, platinum, and diamonds. You can check out examples of what we buy, including gold chains, gold teeth, and class rings.