Troy weight displaced it. Where once 240 pence made a tower pound (and 256 make a troy pound), by the time of the United Kingdom Weights and Measures Act of 1824, a troy pound gives 792 silver pence, still minted as such as Maundy Money. Sterling originally referred to the Norman silver penny of the late 11th century. The coin was minted to a fineness of 11 oz, 2 dwt (in the pound), or 925 Millesimal fineness. Troy weight Troy weight is a system of units of mass customarily used for precious metals and gemstones. One troy ounce (abbreviated "t oz" or
Precious metal "precious" metal can also be determined by high demand or market value. Precious metals in bulk form are known as bullion and are traded on commodity markets. Bullion metals may be cast into ingots or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money. The level of purity varies from issue to issue. "Three nines" (99.9%) purity is common. The purest mass-produced bullion coins are in the Canadian Gold Maple Leaf series, which go up to 99.999% purity. A 100% pure bullion is