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 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