Search results
Results From The WOW.Com Content Network
After over two years of work, the 99.95% fine platinum coins were released by the United States Mint in 1 ⁄ 10, 1 ⁄ 4, 1 ⁄ 2 and 1 troy oz denominations. In late 2008, the fractional denominations were discontinued, leaving only the one ounce denomination. [ 3 ]
Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in the United States, alloyed with silver and copper to produce a more wear-resistant coin.
On April 19, 1978, the United States Treasury Department announced that a portion of the national gold stockpile was to be auctioned through the General Services Administration (GSA) beginning on May 23, 1978, in the form of 400 troy ounces (12 kg) bars. [1]
Avoirdupois is a system of mass based on a pound of 16 ounces, while Troy weight is the system of mass where 12 troy ounces equals one troy pound. The symbol g 0 is used to denote standard gravity in order to avoid confusion with the (upright) g symbol for gram.
The only troy weight in widespread use is the British Imperial troy ounce and its American counterpart. Both are based on a grain of 0.06479891 gram (exact, by definition), with 480 grains to a troy ounce (compared with 437 + 1 ⁄ 2 grains for an ounce avoirdupois). The British Empire abolished the 12-ounce troy pound in the 19th century.
The ounce (/ ˈ aʊ n s /) is any of several different units of mass, weight, or volume and is derived almost unchanged from the uncia, an Ancient Roman unit of measurement. The avoirdupois ounce (exactly 28.349 523 125 g) is 1 ⁄ 16 avoirdupois pound; this is the United States customary and British imperial ounce. It is primarily used in the ...
The Coinage Act of 1834 was passed by the United States Congress on June 28, 1834. It raised the silver-to-gold weight ratio from its 1792 level of 15:1 (established by the Coinage Act of 1792) to 16:1 thus setting the mint price for silver at a level below its international market price.
The American Silver Eagle is the official silver bullion coin of the United States.It was first released by the United States Mint on November 24, 1986, and portrays the Goddess of Liberty in a design by Adolph A. Weinman that was originally used on the Walking Liberty half dollar from 1916 to 1947.