Imperial and US customary measurement systems the Troy units of weight—the troy ounce used to this day for weighting precious metals. Edward I (1272–1307) broke the link between a coin's value and its weight when he debased the English coinage by introducing a groat (four pence) which weighed of 89 grains rather than the expected 96 grains. The groat was further devalued in the 1350s when its weight was reduced to 72 grains. During Saxon times land was measured both in terms of its economic value and in terms of its size. The Domesday Book used the hide, an economic unit of measure. In other references
Taxation of precious metals same "intra-community transaction" rules to all of Europe on a bilateral basis resulting in legally tax-free silver coin availability throughout all of Europe. Precious metals are subject to tax as collectibles, with any profit being taxed at the collectibles capital gains rate. This is normally the standard income tax rate, with metal held over 1 year is subject to a maximum of 28%. Note that many people unfamiliar with the collectibles tax rates (including some well-known websites) incorrectly think that precious metals are taxed at a flat 28% (because they interpret the word "maximum" in "maximum 28% rate"). Taxation of