24 karat in the context of "Nobel Prize"

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⭐ Core Definition: 24 karat

The fineness of a precious metal object (coin, bar, jewelry, etc.) represents the weight of fine metal therein, in proportion to the total weight which includes alloying base metals and any impurities. Alloy metals are added to increase hardness and durability of coins and jewelry, alter colors, decrease the cost per weight, or avoid the cost of high-purity refinement. For example, copper is added to the precious metal silver to make a more durable alloy for use in coins, housewares and jewelry. Coin silver, which was used for making silver coins in the past, contains 90% silver and 10% copper, by mass. Sterling silver contains 92.5% silver and 7.5% of other metals, usually copper, by mass.

Various ways of expressing fineness have been used and two remain in common use: millesimal fineness expressed in units of parts per 1,000 and karats or carats used only for gold. Karats measure the parts per 24, so that 18 karat = 18⁄24 = 75% gold and 24 karat gold is considered 100% gold.

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👉 24 karat in the context of Nobel Prize

The Nobel Prizes are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred Nobel's death. The original Nobel Prizes covered five fields: physics, chemistry, physiology or medicine, literature, and peace, specified in Nobel's will. A sixth prize, the Prize in Economic Sciences, was established in 1968 by Sveriges Riksbank (Sweden's central bank) in memory of Alfred Nobel. The Nobel Prizes are widely regarded as the most prestigious awards available in their respective fields.

Except in extraordinary circumstances, such as war, all six prizes are given annually. Each recipient, known as a laureate, receives a green gold medal plated with 24 karat gold, a diploma, and a monetary award. As of 2023, the Nobel Prize monetary award is 11,000,000 kr, equivalent to approximately US$1,035,000. The medal shows Nobel in profile with "NAT. MDCCCXXXIII-OB. MDCCCXCVI" which is his year of birth, 1833 (NAT) and year of death, 1896 (OB). No more than three individuals may share a prize, although the Nobel Peace Prize can be awarded to organisations of more than three people. Nobel Prizes are not awarded posthumously, but if a person is awarded a prize and dies before receiving it, the prize is presented.

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In this Dossier
LINKED FROM (PARENTS)
← Nobel Prize
LINKS TO (CHILDREN)
Precious metal → Alloy → Base metal → Impurity → Hardness → Coins → Jewelry → Copper → Silver → Silver coin → Mass → Sterling silver → Per mil → Gold →