The standard circulating coinage of the United Kingdom, British Crown Dependencies and British Overseas Territories is denominated in pennies and pounds sterling, and ranges in value from one penny sterling to two pounds. Since decimalisation, on 15 February 1971, the pound has been divided into 100 (new) pence. Before decimalisation, twelve pence made a shilling, and twenty shillings made a pound.
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.
Sterling is the currency of the United Kingdom and nine of its associated territories. The pound is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. In British English, its most common nickname is "quid".
Nickel silver, maillechort, German silver, argentan, new silver, nickel brass, albata, or alpacca is a copper alloy with nickel and often zinc. The usual formulation is 60% copper, 20% nickel and 20% zinc. Nickel silver does not contain the element silver. It is named for its silvery appearance, which can make it attractive as a cheaper and more durable substitute. It is also well suited for being plated with silver.
A hallmark is an official mark or series of marks struck on items made of metal, mostly to certify the content of noble metals—such as platinum, gold, silver and in some nations, palladium. In a more general sense, the term hallmark can also be used to refer to any distinguishing mark.
The Coinage Act of 1792, passed by the United States Congress on April 2, 1792, created the United States dollar as the country's standard unit of money, established the United States Mint, and regulated the coinage of the United States. This act established the silver dollar as the unit of money in the United States, declared it to be lawful tender, and created a decimal system for U.S. currency.
Assay offices are institutions set up to assay precious metals. This is often done to protect consumers from buying fake items. Upon successful completion of an assay the assay offices typically stamp a hallmark on the item to certify its metallurgical content. Hallmarking first appeared in France, with the Goldsmiths' Statute of 1260 promulgated under Étienne Boileau, Provost of Paris, for King Louis IX.
The pound was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings, each of 12 pence.
The Canadian five-cent coin, commonly called a nickel, is a coin worth five cents or one-twentieth of a Canadian dollar. It was patterned on the corresponding coin in the neighbouring United States. It became the smallest-valued coin in the currency upon the discontinuation of the penny in 2013. Due to inflation, the purchasing power of the nickel continues to drop and currently the coin represents less than 0.5% of the country's lowest minimum hourly wage.
The fineness of a precious metal object 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.
Britannia silver is an alloy of silver containing 11 ozt 10 dwt silver in the pound troy, equivalent to 23⁄24, or 95.833% by weight (mass) silver, the rest usually being copper.
The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. Silver was far more widespread than gold as the monetary standard worldwide, from the Sumerians c. 3000 BC until 1873. Following the discovery in the 16th century of large deposits of silver at the Cerro Rico in Potosí, Bolivia, an international silver standard came into existence in conjunction with the Spanish pieces of eight. These silver dollar coins played the role of an international trading currency for nearly four hundred years.
Metal clay is a crafting medium consisting of very small particles of metal such as silver, gold, bronze, or copper mixed with an organic binder and water for use in making jewelry, beads and small sculptures. Originating in Japan in 1990, metal clay can be shaped just like any soft clay, by hand or using molds. After drying, the clay can be fired in a variety of ways such as in a kiln, with a handheld gas torch, or on a gas stove, depending on the type of clay and the metal in it. The binder burns away, leaving the pure sintered metal. Shrinkage of between 8% and 30% occurs. Alloys such as bronze, sterling silver, and steel also are available.
The Birmingham Assay Office, one of the four assay offices in the United Kingdom, is located in the Jewellery Quarter, Birmingham. The development of a silver industry in 18th century Birmingham was hampered by the legal requirement that items of solid silver be assayed, and the nearest Assay Offices were in Chester and London. Matthew Boulton and Birmingham's other great industrialists joined forces with silversmiths of Sheffield to petition Parliament for the establishment of Assay Offices in their respective cities. In spite of determined opposition by London silversmiths, an Act of Parliament was passed in March 1773, just one month after the original petition was presented to Parliament, to allow Birmingham and Sheffield the right to assay silver. The Birmingham Assay Office opened on 31 August 1773 and initially operated from three rooms in the King's Head Inn on New Street employing only four staff and was only operating on a Tuesday. The first customer on that day was Matthew Boulton.
The Dublin Assay Office was established in 1637 to supervise the assaying of all gold and silver throughout the whole Kingdom of Ireland, when the Dublin Company of Goldsmiths was founded by royal charter, re-establishing the medieval Guild of All Saints.
Silver standards refer to the standards of millesimal fineness for the silver alloy used in the manufacture or crafting of silver objects. This list is organized from highest to lowest millesimal fineness, or purity of the silver.
A silver object that is to be sold commercially is, in most countries, stamped with one or more silver hallmarks indicating the purity of the silver, the mark of the manufacturer or silversmith, and other (optional) markings to indicate date of manufacture and additional information about the piece. In some countries, the testing of silver objects and marking of purity is controlled by a national assayer's office.
The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.
A metallurgical assay is a compositional analysis of an ore, metal, or alloy, usually performed in order to test for purity or quality.
The Goldsmiths' Company Assay Office in London is the oldest assay office in the United Kingdom. The company has provided hallmarking services since The Goldsmiths Company was founded in the 14th century. The company received its royal charter in 1327 and ranks fifth in order of precedence of the 12 great livery companies of the City of London.
