Carat: Primarily used for gemstones. One carat equals 200 milligrams (0.2 grams). This is the standard measure for diamonds, sapphires, amethysts, lapis lazuli, and other precious/semi-precious stones.
Gram: Commonly used for weighing metals and larger semi-precious stones or cabochons. Jewelry pieces, especially those made of precious metals like gold or silver, are often measured in grams to describe metal content (e.g., a ring made with 5 grams of 18kt gold).
Pennyweight (dwt): An older unit mainly used in the precious metals industry, especially for gold and silver. One pennyweight equals 1.555 grams. It originated in England and was based on the weight of a penny coin, which is a fun historical tidbit!
Thanks for linking the Wikipedia article pennyweight is a fascinating measure with an interesting backstory! Are you weighing metals or stones for a project right now?
Here's another bit of information: when spelling, Karat is used with relation to the purity of metals, and Carat it refers to gemstone weight.
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Answer contributed by Dale "Cougar" Armstrong