Karat and carat share a common word derivation and both indicate a small weight. Karat indicates the fraction of gold in a gold alloy, while carat is a measure of weights used for gems.
1 karat = 1/24 = 4.167%
100% gold = 24 karat
75% gold (alloyed with copper and/or brass) = 18 karat
50% gold = 12 karat
1 troy ounce = 31.103 grams = 480 grains
1 pennyweight of gold = 1/20 of a troy ounce = 24 grains = 1.555 grams
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