Pound (mass) a legal unit for trade (it was abolished in the United Kingdom on 6 January 1879 by the Weights and Measures Act of 1878), but the troy ounce, of a troy pound, is still used for measurements of gems such as opals, and precious metals such as silver, platinum and particularly gold. The system called Tower weight was the more general name for King Offa's pound. This dates to 757 AD and was based on the silver penny. This in turn was struck over Arabic dirhams (2d). The pound was based on the weight of 120 Arabic silver dirhams, which
Gold IRA Savings Plan (TSP), and 401(k)s. The four precious metals allowed to be held in an individual retirement account are gold, silver, platinum and palladium, provided they are in the form of IRS-approved coin or bar products. Since gold is the most commonly purchased of the four, the overarching term "gold IRA" is used most often as industry slang to mean a retirement account containing any combination of precious metals. Other terms such as, "precious metals IRA", "silver IRA", "platinum IRA", or "palladium IRA" are also frequently used. Investors often use precious metals as a long-term hedge against inflation, to diversify