Fineness in the context of "Chopmarks"

Troy weight is a system of units of mass whose origin is uncertain. By far the most common troy unit is the troy ounce (oz t), the standard mass unit for precious metals in industry and in trade; it equals 31.1034768 grams. The troy weight units are the grain, the pennyweight (24 grains), the troy ounce (20 pennyweights), and the troy pound (12 troy ounces). The troy grain is equal to the grain unit of the avoirdupois and apothecaries' systems, but the troy ounce is heavier than the avoirdupois ounce, and the troy pound is lighter than the avoirdupois pound.

A gold coin is a coin that is made mostly or entirely of gold. Most gold coins minted since 1800 are 900–920 ‰ gold (22‑karat), while most of today's gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo. Alloyed gold coins, like the American Gold Eagle and South African Krugerrand, are typically 917 ‰ gold by weight, with the remainder being silver and copper.

Until about the 1930s, gold coins were circulation coins, including coin-like bracteates and dinars. Since then, gold coins have mainly been produced as bullion coins for investors and as commemorative coins for collectors. While modern gold coins are still legal tender, they are not used in everyday financial transactions, as the metal value invariably exceeds the nominal value. For example, the quarter-ounce American Gold Eagle has a denomination of $10, but a metal value of approximately $500 (as of January 2024).

Sterling silver is an alloy composed by weight of 92.5% silver and 7.5% other metals, usually copper. The sterling silver standard has a minimum millesimal fineness of 925.

Fine silver, which is 99.9% pure silver, is relatively soft, so silver is usually alloyed with copper to increase its hardness and strength. Sterling silver is prone to tarnishing, and elements other than copper can be used in alloys to reduce tarnishing, as well as casting porosity and firescale. Such elements include germanium, zinc, platinum, silicon, and boron. Recent examples of these alloys include argentium, sterlium and silvadium.

Bullion coin or specie refers to coin struck from bullion (namely, highly refined precious metal) and kept as a store of value or an investment rather than used in day-to-day commerce, or collectable, with numismatic value beyond that of its metal content. A bullion coin is distinguished by its weight (or mass) and fineness on the coin. Unlike rounds, bullion coins are minted by government mints and have a legal tender face value. Bullion coins can have fineness ranging from 91.9% (22 karat) to 99.99% purity (24 karat).

In the United Kingdom coins deemed to be investment coins are exempt from value-added tax (VAT) on transactions. A coin is considered to be an investment coin if it was minted after 1800, and at least 900 thousandths fine, and has been legal tender in its country of origin, and not normally sold at more than 180% of the value of its precious metal content; or if it is on a long list of coins deemed to be investment coins. Under United States law, "coins" not stamped by authority of the government are not coins and must be advertised as "rounds" instead.

Silver-gilt or gilded/gilt silver, sometimes known in American English by the French term vermeil, is silver (either pure or sterling) which has been gilded. Most large objects made in goldsmithing that appear to be gold are actually silver-gilt; for example, most sporting trophies (including medals such as the gold medals awarded in all Olympic Games after 1912) and many crown jewels are silver-gilt objects.

Apart from the raw materials being much less expensive to acquire than solid gold of any karat, large silver-gilt objects are also noticeably lighter, as well as more durable. (Gold is about 1.7× heavier than lead and 1.8× heavier than silver and is easily scratched and bent.) For objects that have intricate detail such as monstrances, gilding greatly reduces the need for cleaning and polishing, and so reduces the risk of damage. Ungilded silver would suffer oxidation and need frequent polishing; gold does not oxidize at all. The "gold" threads used in embroidered goldwork are normally also silver-gilt.

The livre tournois (French pronunciation: [livʁ tuʁnwa]; lit. 'Tours pound'; abbreviation: ₶ or £) was one of numerous currencies used in medieval France, and a unit of account (i.e., a monetary unit used in accounting) used in early modern France.

The 1262 monetary reform established the livre tournois as 20 sous tournois, or 80.88 grams of fine silver. The franc à cheval was a gold coin of one livre tournois minted in large numbers from 1360.In 1549, the livre tournois was decreed a unit of account, and in 1667 it officially replaced the livre parisis. In 1720, the livre tournois was redefined as 0.31 grams of pure gold, and in 1726, in a devaluation under Louis XV, as 4.50516 grams of fine silver.It was the basis of the revolutionary French franc of 1795, defined as 4.5 grams of fine silver exactly.

Chop marks on coins are Chinese characters stamped or embossed onto coins by merchants in order to validate the weight, authenticity and silver content of the coin. Depending on particular technique coins said to have been "chopmarked", "countermarked" and "counterstamped".

The earliest chopmarks are found on bronze coins of the Wanli era of the Ming Dynasty. These have become known as "Manila Chopmarks" and are believed to have been marked in Manila by Chinese merchants. The marks are usually small and unclear but occasionally full Chinese characters, or small fish symbols, can be found. The character Tian (天), meaning "Heaven" is known from at least one example. The purpose of such chopmarks has been debated, with one theory suggesting it was a way to mark the premium full sized cash coins when compared to the diminutive small picis cash which were minted during the Wanli era. Nevertheless, these Manila Chopmarks have proven to be the earliest chopmarks in a centuries long tradition.