ALLOY, or Allay, in Matters of Coinage, etc., a Proportion of a baser Metal, mingled with a finer, or purer. See METAL, MIXTURE, etc. Such is the Quantity of Copper mingled with Gold, in the Coining of Species of that Metal. See GOLD, MONEY, etc. The Intention of Alloy, is to give the Gold a due hardness, that it may not waste with wearing; and to increase its Weight, so as to countervail the Charges of Coinage. See SEIGNEURAGE. Gold that has more of this, than it ought to have; is said to be of a coarser or greater Alloy, or below Standard. See STANDARD. The Proportion of Alloy for Gold used in our Mints, is about a twelfth Part. See COINING. The Word seems derived from the French, Loy, Law; in regard the Alloy is fixed by Law.
