Zolotnik Zolotnik A zolotnik (in Russian: золотни́к; abbr.: zol.) was a small Russian unit of weight, equal to 0.1505 avoirdupois ounces, or 4.2658 grams (about 65.83 grains). Used from the 10th to 20th centuries, its name is derived from the Russian word "zoloto", meaning gold. As a unit, the zolotnik was the standard for silver manufacture, much as the troy ounce is currently used for gold and other precious metals. This unit was originally based on a coin of the same name. The zolotnik circulated in the Kievan Rus until the 11th century; it was equal in weight to the Byzantine
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