What does “troy ounce” mean? September 23, 2024 16:53 Updated A troy ounce is a unit of measure for precious metals. One troy ounce is approximately 31.1 grams. Related articles How much are these medallions worth? What’s the difference between these Donald Trump medallions and other Trump-themed coins and medallions I’ve seen being sold? What makes this medallion a collector’s item? Is the medallion an official U.S. Mint product? Is this medallion legal tender?