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From: Webster's Revised Unabridged Dictionary (1913)

 As·say n.
 1. Trial; attempt; essay. [Obs.]
    I am withal persuaded that it may prove much more easy in the assay than it now seems at distance.   --Milton.
 2. Examination and determination; test; as, an assay of bread or wine. [Obs.]
    This can not be, by no assay of reason.   --Shak.
 3. Trial by danger or by affliction; adventure; risk; hardship; state of being tried. [Obs.]
    Through many hard assays which did betide.   --Spenser.
 4. Tested purity or value. [Obs.]
    With gold and pearl of rich assay.   --Spenser.
 5. Metallurgy The act or process of ascertaining the proportion of a particular metal in an ore or alloy; especially, the determination of the proportion of gold or silver in bullion or coin.
 6. The alloy or metal to be assayed.
 Usage: Assay and essay are radically the same word; but modern usage has appropriated assay chiefly to experiments in metallurgy, and essay to intellectual and bodily efforts. See Essay.
 Note:Assay is used adjectively or as the first part of a compound; as, assay balance, assay furnace.
 Assay master, an officer who assays or tests gold or silver coin or bullion.
 Assay ton, a weight of 29,166⅔ grams.