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The Pennyweight

Glossary · Care & Sizing

Assay

An assay is the test that determines how much precious metal an item actually contains — historically by cupellation, now more often by X-ray fluorescence. It is what stands behind an official hallmark, and what a refiner runs before quoting on scrap. It is also the idea this publication is named for: a claim about a metal is worth exactly what an assay would confirm.

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The short list

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