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).
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
However, the assayers' distinct idea of gold, though definable, can be resolved only into concepts which are themselves confused.
Alex Stewart (Assayers) Ltd, is a privately owned independent company providing fully integrated professional services for the inspection, sampling and assaying of base metal ores and concentrates, recycled metal scrap, and scrap containing precious metals.
Burilladas, the word given for the zigzag markings made by a burin when the assayer took some metal to test for the standard of purity, is often regarded as proof of authenticity.
Assayers performed a vital function during the gold rush, not just testing gold for purity but also melting it down from the dust, nuggets and crystals they were given and casting it into clearly marked, conveniently transportable shapes that could be used like money--primarily in the gambling parlors.
In May Frobisher set out on his third and final voyage, with fifteen ships and two hundred miners, in which Sidney invested [pounds]67/10/-; during this trip, the assayers pronounced the ore worthless.(31) On 1 June, Sidney stood godfather to Du Plessis's second daughter Elisabeth in the French Church in London's Threadneedle Street.
It was already practised by the ancient Romans; it was elaborated later during the Middle Ages by the German assayers who reached a fair degree of proficiency|3~ by the year 1500.
The Alex Stewart Assayers I-Zingari League Officials maraked with an asterisk * MUST travel together please.
Blowpipe kits were available through mine supply companies and dealers in assayers' and chemists' equipment as recently as the 1940's.
IN THE Alex Stewart Assayers I Zingari League Premier Division champions Old Xaverians found their scoring boots with a comprehensive 4-0 thrashing of the luckless Warbreck.