BULLION TERMINOLOGY - T

*Sourced from Kitco.com*

Tola

Tola is an Indian unit of weight. 1 tola is equal to 0.375 troy oz. or 11.7 grams. Gold bars can be manufactured in tolas and are primarily traded in the Middle East and India.
 

Troy Ounce

Typically referred to as an ounce within the precious metal industry, it is a unit of weight equal to 31.1035 grams. It is not to be mistaken with the more commonly used avoirdupois ounce, which equals to 28.35 grams.


 

Troy pound

Unit of weight, usually used for precious metals, is equal to 12 troy ounces.
 

Tube

Cylindric plastic container used to securely store coins and rounds.

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