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Business Definition for: assay
assay
test of a metal's purity to verify that it meets the standards for trading on a commodities exchange. For instance, a 100 troy-ounce bar of refined gold must be assayed at a fineness of not less than 995 before the Comex will allow it to be used in settlement of a gold contract.
assay
test of a precious metal or oil commodity to determine if it meets quality standards for trading on commodities exchanges. An assay test also determines the cost of materials (assay value) in coins.
assay
test of a metal's purity to verify its content, such as to determine whether gold is 99.5% fine.
Copyright © 2006, 2003, 1998, 1995, 1991, 1987, 1985 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
