Oldest Gold Assaying Ceremonies
One of the worlds oldest gold assaying ceremonies happens in the United Kingdoms annual Trial of the Pyx, which is a yearly process for assaying both cupronickel circulation coins and bullion products produced by the Royal Mint.
It tests not only coin and bullion product purity levels, but also honesty of measurements and guarantees made. Below is a short video documenting the ceremony and the reasons for its existence.
Gold Assay at the Trial of the Pyx
Is The Omicron Variant Setting Up For A Repeat Of 2020 For Gold Prices Whats Next
Gold prices exploded higher after Fed chair Jay Powell signalled that the Omicron variant of the coronavirus could slow the U.S economic recovery and prolong global supply chain disruptions that are fuelling unstoppable inflation.
The remarks by the Fed chief are his first on the state of the economy since the World Health Organization dubbed a new strain of the coronavirus as a variant of concern.
Even before Powell spoke, the precious metal ticked higher amid comments from Moderna CEO Stephane Bancel.
Bancel raised alarm bells as he declared that existing vaccines would be much less effective at tackling Omicron than earlier strains of coronavirus. He also warned it would take months for pharmaceutical companies to manufacture new variant-specific vaccines at scale.
Golds price action over the past week is beginning to resemble the identical trend seen during the first wave of the pandemic in April 2020.
What comes next will be dictated by what scientists discover about the new COVID-19 variant, including how resistant it is to vaccines and how more transmissible it is than the delta variant.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
For a look at all of todays economic events, check out our economic calendar.
Assaying A Science To Analyse The Purity Of Gold
How do you know that the gold is pure? If you are a jeweller or a metal refiner, Assaying is essential to test the gold. It is an assessment that analyses the purity of gold or any other metal object. From jewellery to bullion bars, assay tests are performed on them to determine their value and purity. There are different ways of assaying the metal. Some of them are as below:
Used since ancient times, this is the simplest way to tell the purity of the gold. A stone assay is a hard, dark colour touchstone with a finely grained surface. All the jeweller has to do is draw the metal across it, which leaves a visible line. The colour of the line determines the purity of the gold.
This assay is much more complicated compared to the stone assay. It tests the purity fast with accuracy, without damaging the metal. Here, the metal is bathed in X-Rays, after which the metal emits fluorescent light at an energy level explicit to the golds atomic structure. XRF machine measures the energy levels to determine the purity as well as the percentage of impurities.
Gold is commonly tested with XRF and fire assays. They are precise and allow the jewellers to make quick and accurate payouts for their customers.
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Where Will You Find Assay Cards/certificates
Assays typically come with bullion bars and they are common with all investment grade precious metals. This is because bars are often considerably bigger than coins, and they are often created by private companies, so that extra verification is welcomed by the investor. You may also get assays with special edition coins, commemorative coins and other high-value coins, although they are rarely included with bullion coins, where production numbers are high and authenticity is rarely an issue. In most cases, high-value coins will come with a Certificate of Authenticity.
What Is Credit Suisse Gold Bar
The Credit Suisse Gold Bar 1 oz is an iconic gold bullion bar which has been actively traded for decades. This brand recognition makes their gold bullion bars a popular choice with investors. The Credit Suisse Gold Bar 1 oz features a sealed plastic holder which includes a white card with the manufacture’s name.
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What Is The Difference Between Assay And Purity
The main difference between assay and purity is that an assay is the determination of one of the main component in a sample whereas purity is the determination of impurities in a sample. Furthermore, an assay may provide either a quantitative or qualitative measurement while purity is typically a quantitative measurement.
Assay and purity are two types of measurements used to determine the components of a sample. Both of them are important aspects of chemistry and biochemistry.
Reason For Assaying Gold
Because purity is essential for gold coin or gold bullion bar values, assaying gold contents is therefore critical.
The main reason for assaying gold bullion products is to make sure they meet the standards claimed by their respective issuing mint, meeting the minimum purity requirement for a particular gold coin or gold bar stamping.
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What Is An Assay/certificate Of Authenticity
An assay is an analysis designed to measure and test the composition in ore, alloys, and precious metals. With respect to precious metals, specifically silver and gold, it is a way to make sure that all the coins or bars produced in a mint meet the correct purity standards and content. For example, if a mint promises that a gold bar has 99.9 percent purity, an assay is necessary to make sure that all the gold minted in that lot meets those standards.
The practice of assaying was commonplace when gold and silver coins actually were used in circulation, as with the silver half-dollar. Although most countries, including the United States, no longer circulate full gold or silver coins for spending, the process is still important. For example, content purity is still essential in the creation of silver and gold bullion, coins, and special releases.
Bullion Products Offered With Coa
Often limited or special coin releases are sold with a COA which proves their authenticity. Usually these coins are commemorative pieces hence the proof of authenticity is a priority while the proof of purity is a bonus. For this reason, COA typically accompanies coins or exclusive pieces and not bars.
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What Is A Certificate Of Authenticity
The Certificate of Authenticity represents a seal or a sticker placed on a certificate or a piece of paper. This Certificate of Authenticity seal guarantees that the bullion item or coin is authentic. However, unlike an assay, there is no detailed process that certifies the exact the purity of the item. Also, a COA doesnt seal the bullion piece like an assay card. Though, a COA contains vital details such as the authenticity and approval stamp, purity, and mint mark, acting as a proof that the item is legit. Some bullion pieces arent accompanied by a COA for different reasons, like products sold in bulk, or they may come with an assay, instead.
How Accurate Is Portable Xrf Compared To Fire Assay For Gold Analysis
A very common question we receive from folks in the precious metals business is about the accuracy of portable XRF technology.
Pawn shops, jewelers, and cash-for-gold operations need to accurately assess if a piece of jewelry is made of real gold and precious metals or if its alloyed with other metals, and more importantly, the percentage of the precious metal content so value can be determined.
You cannot always tell the exact metal, or the percentage of precious metals in a piece, just by looking at it.
Fire assay is the most accurate technique, and is considered the legal method for gold hallmarking, but it is a destructive method because you have to melt the piece in order to determine the gold or other metal concentration.
Portable X-Ray Fluorescence technology is another technique commonly used in pawn shops, cash-for-gold operations, and jewelry stores. With XRF precious metals analyzersthe shop workers can measure the content of all gold and precious metals, as well as determine the presence and concentration of other trace, alloying elements, and dangerous heavy elements, which could impact health and the valuation of the pieces. Most importantly, it is a non-destructive technology, so the piece does not lose any value during testing. This is an especially important factor if youre dealing with high value items.
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Reason For Assaying Precious Metals
Because purity is essential in gold and silver coins or bullion, as well as in platinum and palladium pieces, assaying is likewise essential. The main reason for assaying precious metals is to make sure they meet the standards put forth by the mint, or the requirements necessary for a particular coin or bar. As in the Trial of the Pyx, which is a ceremonial process for assaying still used in the Royal Mint, the procedure goes far back in history. It tested not only purity, but also honesty.
Types Of Assay How Precious Metals Are Tested For Purity
Assays are an important part of being a jeweler or metal refiner. An assay is a test used to analyze the purity of a metal object. There are several types of assays that can be performed and used to determine the value of all kinds of metal objects from jewelry to bullion bars. Types of assays include:
Stone assay This is the simplest assay to perform and has been in use since ancient times. The central tool in a stone assay is a touchstone , which is usually a dark, hard stone with a finely grained surface. When soft metals like gold are drawn across it, they leave a visible line. The color of the line varies with the purity of the gold. The touchstone is also typically treated with chemicals that will only react with certain purities of gold. By observing the color of the line and whether or not a chemical reaction occurs, you can tell the purity the gold.
X-ray fluorescence Also known as XRF, this type of assay is much more complex than a stone assay. XRF assays are known for being fast and accurate tests that do not damage the metal being tested. Essentially, a metal sample is bathed in X-rays. The metal then emits light at an energy level specific to its atomic structure. This energy level is measured by the XRF machine and purity of the metal is determined. An XRF is so thorough it can also measure the percentage of impurities at the same time.
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Us Mint Gold Assay Process
The practice of gold assaying is commonplace within the gold bullion, gold refining, and gold mining industries.
Understanding gold grades and gold purity through accurate gold assaying is key to profitable gold mining, gold refining, and gold bullion product production.
Gold coin and gold bar content purity also remains essential in the creation of trustworthy gold bullion products and establishing reputable brand or gold bullion hallmarks by both private gold mints and government gold mints respectively.
Submitting Samples For Assay: A Checklist
- Made sure the sample is clearly labeled or secured in a clearly labeled sample bag?
- Packaged the samples securely?
- Specified the analyses that you require, and given any special instructions?
- Given the lab a contact name, phone number and address?
- Specified if you want the pulps returned to you. This may be done at your cost.
- Specified how you want to receive the assay results ?
Avoid contaminating your samples at this stage.
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What Is A Gold Assay
Gold Assay – a process to measure purity of items containing gold.
The process of gold assaying is a way to ensure that gold coins or gold bullion bars produced by a gold mint meet the correct purity standards and content.
For example, the US Mint guarantees that its American Gold Buffalo Coin has a minimum 99.99% purity. Since the price of gold per ounce is based on 1 troy ounce of per gold, this is important that the assay for 1 ounce coins also measures pure gold.
In the following video you will hear from a US Mint chemist describing the precious metals and gold assay process necessary to make sure that all the gold coins minted by the US Mint meet the purity standards they indeed guarantee.
What Is Fire Assaying
Fire assaying is the quantitativedetermination in which a metal or metals are separated fromimpurities by fusion processes and weighed in order to determinethe amount present in the original sample.
Metals recovered in fire assaying are the metals that emergefrom the fusion of the material in a assay furnace, for gold,usually at temperatures of about 2,000 Degrees F. The Fire AssayMethod is centuries old, but it is still one of the most reliablemethods for performing assays of ores that contain precious metals – Gold,Silver and Platinum. Ore from the mine, or exploration samplingprogram is scientifically sampled using a statistically accuratemethod fitting the desired accuracy, it is then prepared bycrushing, splitting and pulverizing. This is a process referredto as sample preparation. Since the original sample may be ahundred pounds or more, a scientific method of obtaining arepresentative sample for testing of usually 30 grams is used,and it includes reducing the ore to a predetermined particle sizeand then splitting the ore using a statistically accurate method,to obtain the 30 gram representative sample for fire assaying.
Accuracy in sampling, preparation, assaying, handling,weighing is extremely important in fire assaying, since errorswill influence the 0.0001 g final gold bead in sometimesastronomical proportions, if done improperly, using un-scientificmethods, and little attention paid to the assay process.
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Assay Of Gold And Silver Ores By Scorification:
Half the lead should be mixed with the powdered ore and placed in the scorifier the other half should be spread over this, and the borax on the top. The scorifier may then be placed in the muffle and the door closed until fusion is complete. Then the door may be partly opened and the temperature raised until the surface is covered with litharge, the whole time being about half an hour. The scorifier can then be taken out by the tongs and the contents carefully poured out into an iron cup or mould. When cool, the button of lead should be detached from the slag, cleaned by hammering, and then, in the shape of a cube, is ready for cupellation.
If Fusion in a Crucible be desirable, the following formulae are to be recommended :For ore, chiefly of rock
The more quartz in the ore, the more carbonate of soda should be used the more iron and other metallic bases,
the more borax. The ingredients should be well mixed together and a little borax placed on the top. The crucible should be heated, though not too rapidly at first, until the contents are quite liquid. This will take about twenty minutes. After which it may be removed and the contents poured into the iron mould. When cool, the lead button should be detached from the slag, cleaned, and beaten into the shape of a cube it is then ready for cupellation. Fusion for silver and gold bearing copper ores and sulphides. Weigh the ore and roast it before fusion is commenced:
Assays And Geochemical Analysis
A chemical analysis that determines the proportion of metallic or non- metallic elements in a sample is commonly referred to as an assay. A wide variety of geological materials can be chemically analyzed: these include water, vegetation, soil, sediment and rock.
Assay labs can provide you with single and multi-element analyses by a variety of methods. Rock and soil samples are crushed, powdered, fused or digested in acid and then analysed using any one of several analytical methods/instruments. The most common methods are: AA: atomic absorption spectrometry FA: fire assay ICP: Inductively Coupled Plasma Atomic Emission Spectrometer ICP-MS: Inductively Coupled Plasma Mass Spectrometer and INAA: Induced Neutron Activation Analysis.
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How Does Fire Assay Work
Fire assaying is the quantitative determination in which a metal or metals are separated from impurities by fusion processes and weighed in order to determine the amount present in the original sample. For fire assaying ores, usually fluxes, materials such as borax, soda, silica are added to the ore.
Qiagen And Diasorin Widen Access To Latent Tb Testing In The Us With Fda Approval Of Quantiferon
Additional U.S. approval for LIAISON® XS platform builds on FDA approval in 2019 for QuantiFERON assay running on DiaSorins LIAISON® XL analyzer
Collaboration now provides full range of automation platforms for TB testing options to customers, ranging from small healthcare clinics to larger hospitals and reference laboratories
QIAGENs QuantiFERON Interferon Gamma Release Assay technology the leading assay for detection of latent TB with high clinical sensitivity
HILDEN, Germany & SALUGGIA, Italy, November 29, 2021—-QIAGEN and DiaSorin today announced that the U.S. Food and Drug Administration has approved the LIAISON® QuantiFERON®-TB Gold Plus assay for use on DiaSorins automated LIAISON® XS platform.
The approval widens the accessibility of U.S. customers to automation solutions for processing QIAGENs leading blood-based test for latent tuberculosis detection and support the conversion from the traditional tuberculin skin tests that were developed over a century ago.
The highly automated workflow on LIAISON® platforms gives QuantiFERON® customers a powerful, flexible automated option for all throughput ranges. The addition of the fully automated LIAISON® XS platform to the already approved use of this assay on the LIAISON®XL version expands the range of potential customers to include experts at smaller healthcare clinics alongside those at larger hospitals and medical centers and reference laboratories.
Further information on the product can be found here.
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