troy weight

noun
1.
a system of weights in use for precious metals and gems (formerly also for bread, grain, etc.): 24 grains = 1 pennyweight (1.555 grams); 20 pennyweights = 1 ounce (31.103 grams); 12 ounces = 1 pound (0.373 kilogram). The grain, ounce, and pound are the same as in apothecaries' weight, the grain alone being the same as in avoirdupois weight. The troy pound is no longer a standard weight in Great Britain.
Origin
1425-75; late Middle English
British Dictionary definitions for troy weight

troy weight

/trɔɪ/
noun
1.
a system of weights used for precious metals and gemstones, based on the grain, which is identical to the avoirdupois grain. 24 grains = 1 pennyweight; 20 pennyweights = 1 (troy) ounce; 12 ounces = 1 (troy) pound
Word Origin
C14: named after the city of Troyes, France, where it was first used
troy weight in Science
troy weight
  (troi)   
A system of weights and measures in which the grain is the same as in the avoirdupois system, and a pound contains 12 ounces, or 5,760 grains. Troy weight is used primarily by miners and gold dealers. Compare avoirdupois weight.
Encyclopedia Article for troy weight

traditional system of weight in the British Isles based on the grain, pennyweight (24 grains), ounce (20 pennyweights), and pound (12 ounces). The troy grain, pennyweight, and ounce have been used since the Middle Ages to weigh gold, silver, and other precious metals and stones. The name supposedly derives from the city of Troyes in France, site of one of the major medieval fairs. The troy pound was adopted by the U.S. Mint for the regulation of coinage in 1828.

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