Platinum price per pennyweight in JPY today

Definition. The pennyweight (1.55517 g, one twentieth of a troy ounce) is the unit American jewellers and scrap buyers still quote in. One pennyweight equals 1.55517 grams, or 0.05000 troy ounces, which at today's platinum spot price works out to — JPY.

Where it is used. Repair work, casting weights and scrap gold offers in the US are almost always priced per pennyweight rather than per gram. The unit is the trading standard in United States jewellery trade.

Pricing conventions. A scrap buyer quoting per dwt is quoting on a unit roughly 1.5 times a gram, so always convert before comparing with an online per-gram offer. Platinum has almost no traditional-unit retail market: it is quoted per ounce or per gram, and this conversion is mainly used for jewellery weighing and industrial stock.

Good to know. The name survives from the medieval English penny, which literally weighed one pennyweight of silver.

At the live price shown above per pennyweight, the price you see here is the international XPT spot price converted into Japanese Yen. Physical buyers in Japan pay that reference plus a premium, and local trading is concentrated around Tokyo, where Tanaka Kikinzoku and Mitsubishi Materials set retail quotes. Buyers there generally watch the domestic per-gram retail price published each morning by the major refiners as the day's reference.

Taxes and duties. Silver, platinum and palladium are also sold with 10% consumption tax; Japan is one of the deepest retail platinum markets in the world. Platinum is a much smaller market driven by autocatalyst and jewellery demand, so local availability is patchier and dealer spreads wider. That is why the shop price of platinum in JPY can sit noticeably above the spot value of the same pennyweight of metal.

How people usually buy. The common routes in Japan are Tanaka Kikinzoku shops, department-store precious metal counters, monthly gold accumulation plans (junkin tsumitate) and TOCOM futures. The products most often quoted locally include 500 g and 1 kg Tanaka bars, platinum bars, momme-weight jewellery.

Local conventions. Traditional weights such as the momme (3.75 g) are still used for pearls and some jewellery, while bullion is quoted per gram. Before you buy, compare the dealer's asking price per pennyweight with the live platinum price above, and check the buy-back spread the same dealer offers — that round-trip cost matters more than a small difference in the headline JPY quote.

Market information only, updated with live prices. Not tax or investment advice; tax rules in Japan can change.