Pennyweight Act of 1878; only the Troy ounce and its decimal subdivisions remained official. The Troy ounce enjoys a specific legal exemption from metrication in the UK. The pennyweight is the common weight used in the valuation and measurement of precious metals. Jewellers use the pennyweight in calculating the amount and cost of precious metals used in fabricating or casting jewellery. Similarly, dentists and dental labs still use the pennyweight as the measure of precious metals in dental crowns and inlays. Pennyweight and grains are still used to weigh gooseberries in competitions in Cheshire, northwest UK. Over the Pennines in Yorkshire
Precious metal coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded. The demand for precious metals is driven not only by their practical use but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals. A metal is deemed to be "precious" if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish. The status of a