VIDEO: TRIAL OF THE PYX AT LONDON'S GOLDSMITHS’ HALL

A 1kg gold coin struck to commemorate the London Olympics was just one of the new coins put through its paces, as the Goldsmiths Company opened their doors to the Telegraph to witness the ancient 'Trial of the Pyx'.

"The one kilo coin is a new addition to the UK coinage. It came through legislation in 2012 and it's a gold alloy and there's a silver demonination as well," said Gwyn Roberts, head of quality assurance at the Royal Mint. "They are then marketed and bought by private coin collectors."

The gold kilo coin was amongst the coins being examined on Tuesday at the ‘Trial of the Pyx’, an ancient ceremony to test the integrity of new coins produced by the Royal Mint.

The ceremony takes place each year at the Goldsmiths’ Hall in the City of London, which is the home of the Goldsmiths livery company.

Steeped in history, the Trial of the Pyx – which is Latin for chest - dates back to the 13th century and is one of Britain’s longest-established judicial procedures.

The three-stage trial involves a jury of goldsmiths counting and weighing a selection of new coins.

These coins are then tested by the Goldsmiths’ Assay Office and two months later a verdict is delivered on whether the coins meet the required standard.

"It would be easy to say this is no longer relevant anymore when money is created electronically," said Nick Harland, deputy clerk of the Goldsmiths' Company.

"But in fact this sort of assessment once a year does maintain the standards of the Royal Mint. The cachet which they get from being held up to the very highest standards here is something they can trade on out in the greater world."

To read the complete article, see: Trial of the Pyx: Goldsmiths put the nation's coins through their paces (www.telegraph.co.uk/finance/currency/9851289/Trial-of-the-Pyx-
Goldsmiths-put-the-nations-coins-through-their-paces.html)

Wayne Homren, Editor

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