An abbreviation for pennyweight, a unit of weight equal to 1/20 of a troy ounce, commonly used for measuring precious metals and gemstones.
Abbreviation of 'pennyweight' (abbreviated as 'dwt' from the Old English symbol for penny 'ð' and 'wt' for weight). Pennyweight originated from the weight of a silver penny coin.
Jewelers still use this medieval unit today—a diamond might weigh 2.5 dwts, and it's a direct link to an old English coin's actual weight, making measurements thousands of years old!
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