The fineness of a precious metal object 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
1 troy ounce of four nines fine gold (999.9)
A 2019 American Silver Eagle bullion coin with a fineness of 999 (three nines fine), together with a Walking Liberty half dollar with a fineness of 900 (one nine fine); this latter alloy is also often referred to as 90% silver or coin silver.
Carob (Ceratonia siliqua) pod and seeds, origin of carat via Arabic qīrāṭ which itself comes from the Greek word for the seed kerátion
Sterling silver is an alloy composed by weight of 92.5% silver and 7.5% other metals, usually copper. The sterling silver standard has a minimum millesimal fineness of 925.
Fineness
…for use in coins, housewares and jewelry. Coin silver, which was used for making silver coins in the past, contains 90% silver and 10% copper, by mass. Sterling silver contains 92.5% silver and 7.5% of other metals, usually copper, by mass. Various ways of expressing fineness have been used and two remain in common…
Tiffany & Co. pitcher (c. 1871) having paneled sides and repoussé design with shells, scrolls and flowers; top edge is repousse arrowhead leaf design
A Macedonian sterling silver Hanukkah menorah
A Chinese export sterling silver punch bowl, c. 1875 (from the Huntington Museum of Art)
Norman silver pennies changed designs every three years. This two-star design (possible origin of the word "sterling"), issued by William the Conqueror, is from 1077 to 1080.