Gold 0.21%
£3,220.18 OZ
Silver -2.37%
£48.76 OZ
Platinum -0.49%
£1,359.44 OZ
The Silver Britannia is capital gains tax free in the UK, making is a very popular choice with UK investors
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Understanding how the precious metals are measured ensures fair trade, informed buying and selling as well as consistent valuation in global markets. This article will look at the historical background of precious metals measurements, modern measurements, common measurements, how different industries use these measurements and equipment which can be used to measure precious metals using today’s technology
Early Civilisation Standards Early societies, including Mesopotamians and Egyptians, measured metals using rudimentary scales and weighted stones. These early systems laid the foundation for later trade regulations
Ancient Egyptian Measurement Systems Egyptians used the “deben,” an ancient weight unit, to standardise transactions involving gold and silver. This enabled consistent valuations in their vast trade networks
The Greeks introduced the drachma, while the Romans established the aureus coin standard, creating a basis for monetary systems still echoed today.
During medieval times, trade guilds and monarchies created official mints to regulate coin weights and purity, standardising metal values.
Ancient civilizations developed systems to measure precious metals and standardize trade. The Egyptians used the “deben” for consistent valuations in gold and silver transactions, while the Greeks and Romans introduced the drachma and aureus, respectively, laying the groundwork for modern monetary systems. In medieval times, trade guilds and monarchies established official mints to regulate coin weights and purity, ensuring standardised metal values.
The “Troy Ounce” (oz t) was invented specifically for the trade of precious metals and gemstones. It originated from the medieval town of Troyes in France. Prior to this, disputes arose in the settlement of trade which would act as a barrier in everyday commerce
The troy ounce remains the primary unit for weighing precious metals globally. There are 31.1035 grams of Gold in a troy ounce and this measurement is the standard in bullion trading, when establishing price changes of over time in terms of Gold, it is usually given in ounces
Trading Gold in grams is common in the jewellery trade which sees smaller pieces per transaction. Larger bullion trades are typically in kilos, with 32.1507 troy ounces in a kg of Gold
Measures gold purity on a scale from 1 to 24 karats where 24 karat is pure. The other method of expressing Gold purity is Millesimal Fineness which indicates purity in parts per thousand
Gold bullion bars under this system are given as .999 (99.9% pure) whilst Gold Krugerrands and the Gold Sovereign coins are both .916 (91.6% pure)
Gold is often seen in lower purities because it can make the item more durable and appropriate for purpose. This is why rings are not made from pure gold
| Karat | Parts Gold | Hallmark | Gold % |
|---|---|---|---|
| 6 | 1/4 | 250 | 25% |
| 8 | 1/3 | 333 | 33% |
| 9 | 3/8 | 375 | 38% |
| 10 | 3/7 | 417 | 42% |
| 12 | 1/2 | 500 | 50% |
| 14 | 3/5 | 583 | 58% |
| 15 | 5/8 | 625 | 63% |
| 18 | 3/4 | 750 | 75% |
| 20 | 5/6 | 833 | 83% |
| 21 | 7/8 | 875 | 88% |
| 22 | 1 | 916 | 92% |
| 24 | 24/24 | 999 | 100% |
Investing in British Gold
The Gold Britannia coins are the Royal Mint’s flagship fine Gold coin and is available at low-premiums, buyback guarantee and no Capital Gains Tax to pay when selling
