Troy weight them Holland troy, Paris troy, etc. Their values varied from one another by up to several percentage points. Troy weights were first used in England in the 15th century, and were made official for gold and silver in 1527. The British Imperial system of weights and measures (also known as Imperial units) was established in 1824, prior to which the troy weight system was a subset of pre-Imperial English units. The troy ounce in use today is essentially the same as the British Imperial troy ounce (1824–1971), adopted as an official weight standard for United States coinage by Act of
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