[Webfunds-users] Re: WebFunds-Users digest, Vol 1 #93 - 1 msg

Sun, 04 Feb 2001 11:53:39 -0800

"Jay W." <jrw@sphinx.org> wrote:

> as far as i can tell, the ISO specification
> seems to be silent on the actual units of XAG/XAU/XPD/XPT.

ISO 4217 is updated only rarely, which is unworkable in a world where
revolutions, anti-revolutions, and all sorts of other turmoil take place
with distressing frequency.

So, the industry makes up its own codes to supplement the ISO standard, as
needed.  For example, the industry began using "EUR" to designate the new
euro, long before the ISO met to update its standard.

XAG, XAU, XPD, and XPT (the X-prefix designations) are the
international-style designations that the industry chose a long time ago for
the four precious metals: silver (Ag), gold (Au), palladium (Pd), and
platinum (Pt).

AGG, AUG, PDG, and PTG (the G-suffix designations) appear only in marketing
materials produced by DigiGold Ltd, e-gold Ltd, and Standard Reserve, which
are members of a closely related family of commercial enterprises.

It is possible, of course, that the industry could replace XAG, XAU, XPD,
and XPT with AGG, AUG, PDG, and PTG, if e-gold wielded sufficient influence.
For now, though, the X-prefix designations are the only ones that are
universally recognized by major industry participants.

C.Evans