NGC Precious Metal & Bullion Standards 2 — Questions and Answers
Question 1: What is the millesimal fineness of standard 14-karat gold?
- 583 (Correct answer)
- 625
- 750
- 917
Correct answer: 583
14-karat gold has a millesimal fineness of 583 (actually 583.3), meaning it contains 58.3% pure gold.
Question 2: Which hallmark system uses the lion passant symbol to certify sterling silver in the United Kingdom?
- Assay mark
- Britannia mark
- British hallmarking system (Correct answer)
- Sheffield mark
Correct answer: British hallmarking system
The British hallmarking system uses the lion passant to certify that silver meets the sterling standard of 92.5% purity.
Question 3: A silver bullion coin with a fineness of .999 contains what percentage of silver by weight?
- 99.0%
- 99.5%
- 99.9% (Correct answer)
- 100%
Correct answer: 99.9%
A fineness of .999 means the coin is 99.9% pure silver, with 0.1% being trace alloy metals.
Question 4: The American Gold Eagle bullion coin is struck in what alloy composition?
- Pure .9999 gold
- 22-karat gold with silver and copper (Correct answer)
- 18-karat gold with zinc
- 24-karat gold with platinum
Correct answer: 22-karat gold with silver and copper
American Gold Eagles are struck in 22-karat (91.67%) gold alloyed with silver and copper for added durability.
Question 5: What term describes the process of assaying metal by rubbing it on a black stone and comparing the streak to known standards?
- Fire assay
- Touchstone assay (Correct answer)
- Spectrographic analysis
- Acid test
Correct answer: Touchstone assay
Touchstone assay involves rubbing metal on a dark basanite stone and comparing the resulting streak color to standard needles of known composition.
Question 6: Which platinum group metal has the highest melting point and is sometimes added to platinum bullion alloys?
- Palladium
- Rhodium
- Iridium (Correct answer)
- Osmium
Correct answer: Iridium
Iridium has a melting point of approximately 2446°C, the highest of the platinum group metals, and is added to platinum to increase hardness.
Question 7: Under U.S. law, what is the minimum karat gold that can be legally sold and labeled as 'gold' jewelry?
- 8 karat
- 10 karat (Correct answer)
- 12 karat
- 14 karat
Correct answer: 10 karat
U.S. Federal Trade Commission regulations require that items labeled as gold must be at least 10 karats (41.7% pure gold).
NGC Precious Metal & Bullion Standards 2
What is the millesimal fineness of standard 14-karat gold?