Apothecaries' system measure precious metals and stones. (The troy pound was already declared illegal for most other uses by the Weights and Measures Act of 1878.) In the US, the metric system replaced the apothecaries' system in the United States Pharmacopoeia of 1971. Apothecaries' system The apothecaries' system or apothecaries' weights and measures is a historical system of mass and volume units that were used by physicians and apothecaries for medical recipes, and also sometimes by scientists. The English version of the system is closely related to the English troy system of weights, the pound and grain being exactly the same in
Taxation of precious metals Taxation of precious metals Precious metals are subject to taxation in most countries, because of their high economic value. In most countries capital gains tax applies when precious metals are sold at a profit. Some countries also apply value added tax to precious metals. In the European Union, the trading of recognised gold coins and bullion products is VAT exempt, but no such allowance is given to silver. Elsewhere in Europe though, Norway has exempted both gold and silver bullion coins with face value from VAT; Norway is part of the wider EEA (European Economic Area) and thus applies the