Assay

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Assay

Metal purity test to confirm that the metal meets the standards for trading on a commodities exchange (commodities exchange center).

Assay

To test precious metals for their purity. This is important to commodities and futures involving precious metals, in which the quality of the underlying metals must be specified in the contract.

assay

A test to determine the purity of gold, silver, or other precious metals. Metals used for delivery of futures contracts must be assayed to verify that they meet standards established by the exchange on which the contracts trade.
References in periodicals archive ?
94 ounces, with 19 bars by Blake & Company of Sacramento; 27 from the Swiss banker and San Francisco assayer Henry Hentsch; 32 produced by Harris Marchand & Company of Sacrament and Marysvale; 77 produced by Justh & Hunter in San Francisco and Marysville; and 330 ingots from the dominant assaying firm of the day, Kellogg & Humbert of San Francisco, including the largest bar, dubbed the "Eureka.
If agreement cannot be reached due to differences between assays, the third sample is sent to an umpire assayer.
As is clear in The Assayer, Galileo ultimately rejects experiment and observation as a source of true knowledge and turns instead to mathematics.
The son of an Army man, Pitcher was born in Acton, London, and while an apprentice assayer began studying for a degree in chemistry and geology at Chelsea Polytechnic.
Johannes Grill (died 1679), an Amsterdam assayer, collected metallic minerals.
99% from Valcambi, under Swiss certification and are available in tamper-proof packaging having benefits like internationally recognized certification, low risk of duplication, quality packaging, product standardization and numbering with assayer certification.
The jury consists of leaders from the financial world and six assayers from the Worshipful Company of Goldsmiths who, wearing traditional red robes, put the coins to the test.
Melissa Cornelius, director of the Arizona State Board of Technical Registration, said the board formerly regulated assayers, people who test metals for coins and bullion for quality, but noticed it wasnt really necessary anymore after talking to stakeholders on both sides of the debate and researching the license and its use.