This quantity represents a standard unit of measure for precious metals. Its weight is equivalent to 31.1034768 grams. The fineness indicates a purity level of 99.9%, meaning that the metal contains only 0.1% of other elements. This high level of purity is desirable for both investors and industrial applications. For example, the specified amount of metal with this fineness can be formed into bars, rounds, or used in the creation of specialized alloys.
The unit’s value stems from its use as a tangible store of wealth and its role in various industries. Historically, silver has served as currency and a hedge against economic instability. Its high purity makes it suitable for electronics manufacturing, where even trace amounts of impurities can affect performance. Furthermore, its inherent properties contribute to its enduring appeal and demand across global markets.