The word sterling refers to metals and coins of a standard value. It is also used, as in “pounds sterling”, to distinguish British pounds from other currencies.
Sterling is said to be derived from the Easter lings, which were German coiners and were brought to England by King Henry II to improve the quality of the money. Another suggestion is that the word comes from the star with which some early Norman coins were stamped.
In 1300 king Edward I ordered that all silver worked by silver- smiths should be of the same purity as the silver coins. This purity was called the sterling standard. It was introduced to prevent silversmiths from debasing silver with cheap metal. Sterling silver contains 92.5% silver. The other 7.5% is usually copper and is used for hardening.
When fixing this standard Edward also instituted a system called hallmarking. This meant that every single piece of silver worked by the smiths had to be tested or assayed at the Goldsmiths’ Hall. If the article passed the test, it was then stamped with a leopard’s head. (A crown was later used for gold.) In 1544 the mark for English silver was changed to a walking lion, or lion passant. This is still used to stamp silver in London.