Gold at a purity of .916 is still considered fine Gold, although its value is reduced to 22 karat Gold, rather than the 24 karat Gold of .999 fine Gold. Many popular Gold coins from around the world contain a purity of .916, including the U.S. Mint’s 1 oz Gold American Eagle coin and the South African Mint’s 1 oz Gold …
The fineness of a precious metal object (coin, bar, jewelry, etc.) represents the weight of fine metal therein, in proportion to the total weight which includes alloying base metals and any impurities.Alloy metals are added to increase hardness and durability of coins and jewelry, alter colors, decrease the cost per weight, or avoid the cost of high-purity refinement.