Imperial and US customary measurement systems different concepts – the imperial gallon is defined in terms of the volume occupied by a specified mass of water, while the US gallon is specified in terms of cubic linear measure. Notes Notes Units of weight in both the imperial and US customary system always used the same standard, though differences in multiples of the avoirdupois pound developed in the nineteenth century. Both systems used the three different scales – the avoirdupois system for general use, the troy system for precious metals and the apothecaries system in the pharmacy industry. The term "weight" and "mass" are used interchangeably in
Taxation of precious metals Taxation of precious metals Precious metals are subject to taxation in most countries, because of their high economic value. In most countries capital gains tax applies when precious metals are sold at a profit. Some countries also apply value added tax to precious metals. In the European Union, the trading of recognised gold coins and bullion products is VAT exempt, but no such allowance is given to silver. Elsewhere in Europe though, Norway has exempted both gold and silver bullion coins with face value from VAT; Norway is part of the wider EEA (European Economic Area) and thus applies the