Gold is weighed in troy ounces (oz t) which is about 31 grams, rather than avoirdupois ounces (oz) which is about 28 grams. In 1869, gold was $20.65 per oz t; the $1,000,000 in gold would weigh about 1.5 tons. (In 1969, gold value was $35.12 per oz t, so the $1,000,000 was worth about $1.7 million; in 2021 gold about $1767 per oz t, and is worth about $85 million.)